SanDisk CEO Sanjay Mehrotra Sells 12,132 Shares (SNDK)
SanDisk (NASDAQ:SNDK) CEO Sanjay Mehrotra sold 12,132 shares of the company’s stock on the open market in a transaction that occurred on 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 filing with the SEC, which is available at this link.
A number of analysts have recently weighed in on SNDK shares. 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 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 company’s stock. The company has an average rating of “Buy” and a consensus target price of $105.03.
Shares of SanDisk (NASDAQ:SNDK) traded down 0.25% on Thursday, hitting $97.44. The stock had a trading volume of 2,061,057 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 $96.84 and its 200-day moving average is $87.95. The company has a market cap of $21.849 billion and a price-to-earnings ratio of 19.95. SanDisk also was the target of some unusual options trading activity on Wednesday. Stock investors purchased 10,976 call options on the company. This is an increase of approximately 137% compared to the average volume of 4,640 call 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 $5.92 EPS 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 positive change 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.
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