Susquehanna Increases SanDisk Price Target to $120.00 (SNDK)
Analysts at Susquehanna hoisted their price objective on shares of SanDisk (NASDAQ:SNDK) from $110.00 to $120.00 in a research report issued to clients and investors on Thursday. The firm currently has a “positive” rating on the stock. Susquehanna’s target price indicates a potential upside of 28.74% from the stock’s previous close.
Shares of 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’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 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 stock. This is an increase of approximately 104% compared to the average daily volume of 4,568 put options.
SanDisk (NASDAQ:SNDK) last released its 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. Analysts expect that SanDisk will post $6.09 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Monday, August 25th. Stockholders 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 a boost from SanDisk’s previous quarterly dividend of $0.23.
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 document filed with the Securities & Exchange Commission, which can be accessed through this link.
A number of other analysts have also recently weighed in on SNDK. Analysts at RBC Capital reiterated an “outperform” rating on shares of SanDisk in a research note on Thursday. They now have a $118.00 price target on the stock, down previously from $120.00. Separately, 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. Finally, 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. Eleven research analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have assigned a strong buy rating to the company’s stock. SanDisk has an average rating of “Buy” and an average target price 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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