L & S Advisors Inc Buys New Holdings in Sandisk Corporation $SNDK

L & S Advisors Inc purchased a new position in shares of Sandisk Corporation (NASDAQ:SNDK) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 32,238 shares of the data storage provider’s stock, valued at approximately $3,617,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. NewEdge Wealth LLC purchased a new stake in shares of Sandisk during the 3rd quarter worth $1,576,000. Supplemental Annuity Collective Trust of NJ acquired a new stake in Sandisk in the third quarter valued at $389,000. GSA Capital Partners LLP purchased a new stake in Sandisk during the 3rd quarter worth about $783,000. Rothschild Investment LLC acquired a new position in shares of Sandisk during the 3rd quarter worth about $267,000. Finally, Skandinaviska Enskilda Banken AB publ acquired a new position in shares of Sandisk during the 3rd quarter worth about $2,328,000.

Sandisk Stock Up 1.7%

Shares of NASDAQ:SNDK opened at $600.40 on Thursday. Sandisk Corporation has a 1-year low of $27.89 and a 1-year high of $725.00. The company has a debt-to-equity ratio of 0.06, a current ratio of 3.11 and a quick ratio of 1.92. The stock has a market cap of $88.60 billion and a P/E ratio of -79.10. The firm has a fifty day moving average price of $410.63 and a 200 day moving average price of $231.13.

Sandisk (NASDAQ:SNDK) last announced its earnings results on Thursday, January 29th. The data storage provider reported $6.20 EPS for the quarter, beating analysts’ consensus estimates of $3.31 by $2.89. Sandisk had a negative net margin of 11.66% and a positive return on equity of 10.11%. The business had revenue of $3.03 billion during the quarter, compared to analysts’ expectations of $2.67 billion. Sandisk’s revenue was up 61.2% compared to the same quarter last year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on SNDK shares. Barclays boosted their target price on Sandisk from $385.00 to $750.00 and gave the stock an “equal weight” rating in a research note on Monday, February 2nd. UBS Group set a $1,000.00 price objective on shares of Sandisk in a research report on Monday, February 2nd. Wells Fargo & Company upped their target price on shares of Sandisk from $230.00 to $380.00 and gave the company an “equal weight” rating in a report on Thursday, January 15th. Mizuho set a $600.00 price target on shares of Sandisk in a research note on Tuesday, January 27th. Finally, Cantor Fitzgerald boosted their price target on shares of Sandisk from $550.00 to $800.00 and gave the company an “overweight” rating in a research report on Friday, January 30th. One analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $542.85.

Insider Buying and Selling

In other news, Director Necip Sayiner sold 1,271 shares of the business’s stock in a transaction that occurred on Wednesday, December 3rd. The stock was sold at an average price of $195.14, for a total value of $248,022.94. Following the transaction, the director owned 3,479 shares of the company’s stock, valued at approximately $678,892.06. The trade was a 26.76% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.21% of the stock is currently owned by corporate insiders.

Sandisk Profile

SanDisk Corporation offers flash storage solutions. The Company designs, develops and manufactures data storage solutions in a range of form factors using flash memory, controller, firmware and software technologies. The Company operates through flash memory storage products segment. Its solutions include a range of solid state drives (SSD), embedded products, removable cards, universal serial bus (USB), drives, wireless media drives, digital media players, and wafers and components. It offers SSDs for client computing applications, which encompass desktop computers, notebook computers, tablets and other computing devices.