Robert W. Baird Increases SanDisk Price Target to $100.00 (SNDK)
Robert W. Baird raised their price target on shares of SanDisk (NASDAQ:SNDK) from $85.00 to $100.00 in a research note issued on Thursday. The firm currently has a “neutral” rating on the stock. Robert W. Baird’s target price would suggest a potential upside of 7.28% from the company’s current price.
In other SanDisk news, Director Catherine P. Lego sold 2,500 shares of the company’s stock in a transaction that occurred on Monday, July 14th. The stock was sold at an average price of $105.67, for a total transaction of $264,175.00. The transaction was disclosed in a filing with the SEC, which is available at this link.
Shares of SanDisk (NASDAQ:SNDK) traded down 13.56% during mid-day trading on Thursday, hitting $93.2099. 29,611,698 shares of the company’s stock traded hands. SanDisk has a 52 week low of $53.09 and a 52 week high of $108.77. The stock’s 50-day moving average is $101.5 and its 200-day moving average is $84.1. The company has a market cap of $21.130 billion and a price-to-earnings ratio of 22.40. SanDisk also saw some unusual options trading activity on Monday. Stock traders acquired 9,327 put options on the company. This represents an increase of approximately 104% compared to the typical daily volume of 4,568 put options.
SanDisk (NASDAQ:SNDK) last posted its quarterly earnings results on Wednesday, July 16th. The company reported $1.41 EPS for the quarter, beating the Thomson Reuters consensus estimate of $1.39 by $0.02. The company had revenue of $1.63 billion for the quarter, compared to the consensus estimate of $1.60 billion. During the same quarter in the prior year, the company posted $1.21 earnings per share. The company’s quarterly revenue was up 10.7% on a year-over-year basis. Analysts expect that SanDisk will post $6.09 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Monday, August 25th. Shareholders of record on Monday, August 4th will be given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 1.29%. The ex-dividend date of this dividend is Thursday, July 31st. This is a positive change from SanDisk’s previous quarterly dividend of $0.23.
SNDK has been the subject of a number of other recent research reports. Analysts at Jefferies Group raised their price target on shares of SanDisk from $118.00 to $125.00 in a research note on Thursday. They now have a “buy” rating on the stock. Separately, analysts at JPMorgan Chase & Co. raised their price target on shares of SanDisk from $87.00 to $100.00 in a research note on Thursday. They now have a “neutral” rating on the stock. Finally, analysts at Morgan Stanley reiterated an “equal weight” rating on shares of SanDisk in a research note on Thursday. They now have a $100.00 price target on the stock, up previously from $90.00. Eleven equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have assigned a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $105.14.
SanDisk Corporation designs, develops and manufactures data storage solutions in a range of form factors using its flash memory, controller and firmware technologies.
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