Insider Selling: Sanjay Mehrotra Sells 12,132 Shares of SanDisk Stock (SNDK)
SanDisk (NASDAQ:SNDK) CEO Sanjay Mehrotra unloaded 12,132 shares of the company’s stock on the open market in a transaction dated Monday, August 18th. The stock was sold at an average price of $93.67, for a total value of $1,136,404.44. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.
Shares of SanDisk (NASDAQ:SNDK) traded up 1.09% on Tuesday, hitting $95.30. 2,073,771 shares of the company’s stock traded hands. SanDisk has a 52 week low of $53.80 and a 52 week high of $108.77. The stock has a 50-day moving average of $97.26 and a 200-day moving average of $87.74. The company has a market cap of $21.369 billion and a price-to-earnings ratio of 19.25.
SanDisk (NASDAQ:SNDK) last released its earnings data on Wednesday, July 16th. The company reported $1.41 earnings per share for the quarter, beating the analysts’ 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 $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 1.26%. The ex-dividend date of this dividend is Thursday, July 31st. This is an increase from SanDisk’s previous quarterly dividend of $0.23.
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, August 14th. 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. Eleven research analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have given a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $105.03.
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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