SanDisk Receives Neutral Rating from JPMorgan Chase & Co. (SNDK)
SanDisk (NASDAQ:SNDK)‘s stock had its “neutral” rating restated by JPMorgan Chase & Co. in a research note issued on Thursday. They currently have a $100.00 target price on the stock, up from their previous target price of $87.00. JPMorgan Chase & Co.’s price target would indicate a potential downside of 7.26% from the stock’s previous close.
SanDisk (NASDAQ:SNDK) traded down 14.05% on Thursday, hitting $92.68. 25,790,464 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 $101.6 and its 200-day moving average is $84.1. The company has a market cap of $21.009 billion and a P/E ratio of 22.40. SanDisk also saw some unusual options trading activity on Monday. Stock investors purchased 9,327 put options on the stock. This is an increase of 104% compared to the typical daily volume of 4,568 put options.
SanDisk (NASDAQ:SNDK) last announced its 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. 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. Shareholders 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 1.11%.
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 shares were sold at an average price of $105.67, for a total value of $264,175.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
Other equities research analysts have also recently issued reports about the stock. 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. Separately, analysts at Needham & Company LLC reiterated a “buy” rating on shares of SanDisk in a research note on Thursday. They now have a $115.00 price target on the stock. Finally, analysts at Pacific Crest reiterated an “outperform” rating on shares of SanDisk in a research note on Thursday. They now have a $116.00 price target on the stock, down previously from $123.00. Ten equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $102.72.
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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