SanDisk Rating Reiterated by RBC Capital (SNDK)
SanDisk (NASDAQ:SNDK)‘s stock had its “outperform” rating restated by equities researchers at RBC Capital in a research report issued on Thursday. They currently have a $118.00 price objective on the stock, down from their previous price objective of $120.00. RBC Capital’s price objective suggests a potential upside of 26.60% from the company’s current price.
In other SanDisk news, Director Catherine P. Lego sold 2,500 shares of the stock on the open market in a transaction that occurred on Monday, July 14th. The shares were sold at an average price of $105.67, for a total value of $264,175.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
A number of other firms have also recently commented on SNDK. Analysts at Robert W. Baird raised their price target on shares of SanDisk from $85.00 to $100.00 in a research note on Thursday. They now have a “neutral” rating on the stock. Separately, 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. Finally, 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. Eleven investment 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 stock. The company has a consensus rating of “Buy” and an average price target of $105.14.
SanDisk (NASDAQ:SNDK) traded down 13.56% on Thursday, hitting $93.2099. The stock had a trading volume of 29,611,698 shares. SanDisk has a 52 week low of $53.09 and a 52 week high of $108.77. The stock has a 50-day moving average of $101.5 and a 200-day moving average of $84.1. The company has a market cap of $21.130 billion and a P/E ratio of 22.40. SanDisk also was the recipient of some unusual options trading activity on Monday. Stock traders purchased 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 issued its quarterly earnings data on Wednesday, July 16th. The company reported $1.41 earnings per share (EPS) for the quarter, beating the 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 previous year, the company posted $1.21 earnings per share. The company’s revenue for the quarter was up 10.7% on a year-over-year basis. On average, analysts predict that SanDisk will post $6.09 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Monday, August 25th. Investors of record on Monday, August 4th will be paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 1.29%. The ex-dividend date is Thursday, July 31st. This is an increase from SanDisk’s previous quarterly dividend of $0.23.
SanDisk Corporation designs, develops and manufactures data storage solutions in a range of form factors using its flash memory, controller and firmware technologies.