Insider Selling: SanDisk Director Unloads 2,500 Shares of Stock (SNDK)
SanDisk (NASDAQ:SNDK) Director Catherine P. Lego sold 2,500 shares of SanDisk stock in a transaction dated Monday, August 11th. The shares were sold at an average price of $92.30, for a total transaction of $230,750.00. Following the transaction, the director now directly owns 4,216 shares in the company, valued at approximately $389,137. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.
SanDisk (NASDAQ:SNDK) traded down 1.06% on Tuesday, hitting $91.40. The stock had a trading volume of 2,564,087 shares. SanDisk has a one year low of $53.80 and a one year high of $108.77. The stock’s 50-day moving average is $98.35 and its 200-day moving average is $86.99. The company has a market cap of $20.494 billion and a price-to-earnings ratio of 18.86. SanDisk also saw a significant growth in short interest in July. As of July 31st, there was short interest totalling 17,927,150 shares, a growth of 10.1% from the July 15th total of 16,277,486 shares. Based on an average daily trading volume, of 6,706,071 shares, the short-interest ratio is presently 2.7 days. Approximately 7.9% of the shares of the stock are short sold.
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. Analysts expect that SanDisk will post $5.92 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 1.30%. The ex-dividend date is Thursday, July 31st. This is a boost from SanDisk’s previous quarterly dividend of $0.23.
A number of analysts have recently weighed in on SNDK shares. Analysts at Wedbush reiterated an “outperform” rating on shares of SanDisk in a research note on Thursday, July 17th. They now have a $105.00 price target on the stock, down previously from $115.00. Separately, analysts at Susquehanna raised their price target on shares of SanDisk from $110.00 to $120.00 in a research note on Thursday, July 17th. They now have a “positive” rating on the stock. Finally, analysts at RBC Capital reiterated an “outperform” rating on shares of SanDisk in a research note on Thursday, July 17th. They now have a $118.00 price target on the stock, down previously from $120.00. Ten analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have given a strong buy rating to the stock. SanDisk has a consensus rating of “Buy” and a consensus price target of $105.29.
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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