SanDisk Target of Unusually High Options Trading (SNDK)
SanDisk (NASDAQ:SNDK) was the target of unusually large options trading activity on Wednesday. Stock investors bought 10,976 call options on the company, Analyst Ratings Network reports. This is an increase of 137% compared to the typical volume of 4,640 call options.
In other SanDisk news, CEO Sanjay Mehrotra sold 12,132 shares of SanDisk stock on the open market in a transaction that occurred on Monday, August 18th. The shares were sold at an average price of $93.67, for a total value of $1,136,404.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
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 issued a buy rating and two have issued a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $105.03.
SanDisk (NASDAQ:SNDK) traded up 2.50% during mid-day trading on Wednesday, hitting $97.68. The stock had a trading volume of 4,322,591 shares. SanDisk has a 1-year low of $53.80 and a 1-year 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 $21.903 billion and a P/E ratio of 19.46.
SanDisk (NASDAQ:SNDK) last posted its quarterly 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 $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. Shareholders 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 1.23%. The ex-dividend date of this dividend is Thursday, July 31st. This is a boost from SanDisk’s previous quarterly dividend of $0.23.
SanDisk Corporation designs, develops and manufactures data storage solutions in a range of form factors using its flash memory, controller and firmware technologies.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.