Crossmark Global Holdings Inc. Invests $957,000 in Sandisk Corporation $SNDK

Crossmark Global Holdings Inc. purchased a new stake in shares of Sandisk Corporation (NASDAQ:SNDK) during the 3rd quarter, Holdings Channel reports. The institutional investor purchased 8,532 shares of the data storage provider’s stock, valued at approximately $957,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Mitsubishi UFJ Asset Management Co. Ltd. bought a new position in Sandisk in the third quarter worth $27,000. CVA Family Office LLC bought a new stake in shares of Sandisk during the 3rd quarter valued at $28,000. Covestor Ltd bought a new stake in shares of Sandisk during the 3rd quarter valued at $37,000. Cromwell Holdings LLC purchased a new stake in shares of Sandisk in the 3rd quarter worth about $39,000. Finally, True Wealth Design LLC purchased a new stake in shares of Sandisk in the 3rd quarter worth about $40,000.

Insider Buying and Selling

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

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the stock. Raymond James Financial raised shares of Sandisk from a “market perform” rating to an “outperform” rating and set a $725.00 price target for the company in a research report on Friday, January 30th. Mizuho set a $600.00 price objective on shares of Sandisk in a report on Tuesday, January 27th. Citigroup raised their target price on shares of Sandisk from $490.00 to $750.00 and gave the company a “buy” rating in a research note on Monday, February 2nd. Jefferies Financial Group lifted their target price on shares of Sandisk from $600.00 to $700.00 and gave the company a “buy” rating in a report on Friday, January 30th. Finally, Susquehanna boosted their price target on Sandisk from $250.00 to $300.00 and gave the stock a “positive” rating in a research report on Monday, December 8th. Two research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Sandisk presently has a consensus rating of “Moderate Buy” and a consensus price target of $542.85.

Sandisk Stock Up 11.6%

Shares of Sandisk stock opened at $588.76 on Tuesday. The company has a 50-day simple moving average of $509.78 and a two-hundred day simple moving average of $284.48. The stock has a market capitalization of $86.90 billion and a PE ratio of -77.57. Sandisk Corporation has a 52-week low of $27.89 and a 52-week high of $725.00. 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 (NASDAQ:SNDK) last posted its quarterly 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 firm had revenue of $3.03 billion for the quarter, compared to analysts’ expectations of $2.67 billion. The business’s revenue was up 61.2% on a year-over-year basis.

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.