Sandisk Corporation (NASDAQ:SNDK) Receives $542.85 Average Target Price from Brokerages

Sandisk Corporation (NASDAQ:SNDK) has been given an average recommendation of “Moderate Buy” by the twenty-three ratings firms that are currently covering the firm, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, six have given a hold recommendation, fourteen have given a buy recommendation and two have issued a strong buy recommendation on the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $542.85.

Several brokerages have recently weighed in on SNDK. The Goldman Sachs Group increased their price objective on shares of Sandisk from $320.00 to $700.00 and gave the stock a “buy” rating in a research note on Friday, January 30th. Jefferies Financial Group upped their price objective on Sandisk from $600.00 to $700.00 and gave the stock a “buy” rating in a research note on Friday, January 30th. Mizuho set a $600.00 target price on Sandisk in a research report on Tuesday, January 27th. Bank of America raised their price objective on Sandisk from $300.00 to $390.00 and gave the stock a “buy” rating in a research note on Wednesday, January 7th. Finally, Weiss Ratings reissued a “sell (d+)” rating on shares of Sandisk in a report on Monday, December 29th.

Sandisk Stock Performance

Shares of NASDAQ SNDK traded down $38.26 during midday trading on Friday, hitting $527.33. 16,002,923 shares of the stock traded hands, compared to its average volume of 18,972,092. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.92 and a current ratio of 3.11. Sandisk has a one year low of $27.89 and a one year high of $725.00. The firm has a market capitalization of $77.83 billion and a P/E ratio of -69.48. The firm has a 50-day moving average of $502.89 and a two-hundred day moving average of $277.38.

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

Insiders Place Their Bets

In related news, Director Miyuki Suzuki sold 3,500 shares of the company’s stock in a transaction on Wednesday, February 25th. The shares were sold at an average price of $627.53, for a total value of $2,196,355.00. Following the completion of the transaction, the director owned 9,907 shares of the company’s stock, valued at approximately $6,216,939.71. This represents a 26.11% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 0.21% of the company’s stock.

Institutional Trading of Sandisk

Several institutional investors have recently made changes to their positions in the business. Vanguard Personalized Indexing Management LLC bought a new position in shares of Sandisk during the third quarter worth $1,136,000. New York State Teachers Retirement System bought a new stake in Sandisk in the 3rd quarter valued at $13,546,000. Sage Rhino Capital LLC purchased a new stake in Sandisk in the 3rd quarter worth $587,000. Y Intercept Hong Kong Ltd purchased a new stake in Sandisk in the 3rd quarter worth $7,046,000. Finally, Sumitomo Mitsui Trust Group Inc. bought a new position in shares of Sandisk during the 3rd quarter valued at about $514,000.

About Sandisk

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.