SanDisk Given Average Recommendation of “Buy” by Brokerages (NASDAQ:SNDK)
SanDisk (NASDAQ:SNDK) has earned a consensus recommendation of “Buy” from the thirty-one ratings firms that are covering the company, StockRatingsNetwork reports. Eleven equities research analysts have rated the stock with a hold recommendation, thirteen have given a buy recommendation and two have given a strong buy recommendation to the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $105.03.
A number of research firms have recently commented on SNDK. Analysts at Zacks reiterated a “neutral” rating on shares of SanDisk in a research note on Thursday. They now have a $98.00 price target on the stock. Separately, 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. Finally, 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.
SanDisk (NASDAQ:SNDK) opened at 94.03 on Thursday. SanDisk has a one year low of $53.80 and a one year high of $108.77. The stock has a 50-day moving average of $97.56 and a 200-day moving average of $87.26. The company has a market cap of $21.084 billion and a price-to-earnings ratio of 19.03.
SanDisk (NASDAQ:SNDK) last posted its quarterly earnings results 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 $5.92 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Monday, August 25th. Investors 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 1.28%. The ex-dividend date of this dividend is Thursday, July 31st. This is an increase 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 dated Monday, August 11th. The stock was sold at an average price of $92.30, for a total transaction of $230,750.00. The sale was disclosed in a filing with the SEC, which can be accessed through this link.
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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