Analysts Set Sandisk Corporation (NASDAQ:SNDK) Target Price at $77.50

Sandisk Corporation (NASDAQ:SNDK) has been given a consensus rating of “Moderate Buy” by the twenty ratings firms that are presently covering the company, MarketBeat Ratings reports. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, nine have assigned a buy rating and two have issued a strong buy rating on the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $77.50.

A number of equities analysts have weighed in on the stock. Citigroup boosted their target price on shares of Sandisk from $80.00 to $125.00 and gave the stock a “buy” rating in a research note on Wednesday, September 24th. Jefferies Financial Group initiated coverage on shares of Sandisk in a research note on Monday, July 7th. They set a “buy” rating and a $60.00 price target on the stock. Morgan Stanley boosted their price objective on shares of Sandisk from $70.00 to $96.00 and gave the stock an “overweight” rating in a research report on Thursday, September 11th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Sandisk in a report on Saturday, September 27th. Finally, Bank of America lifted their target price on Sandisk from $59.00 to $125.00 and gave the company a “buy” rating in a research note on Tuesday, September 23rd.

Sandisk Stock Up 3.4%

Sandisk stock opened at $128.41 on Wednesday. The stock has a 50-day simple moving average of $66.09 and a 200 day simple moving average of $49.68. The company has a quick ratio of 2.11, a current ratio of 3.56 and a debt-to-equity ratio of 0.20. Sandisk has a 12-month low of $27.89 and a 12-month high of $137.05.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Osaic Holdings Inc. acquired a new stake in shares of Sandisk during the 2nd quarter worth approximately $317,000. Corient Private Wealth LLC bought a new position in Sandisk in the second quarter valued at approximately $353,000. Praxis Investment Management Inc. acquired a new stake in Sandisk during the 3rd quarter worth $533,000. Finally, GAMMA Investing LLC acquired a new stake in Sandisk during the 3rd quarter worth $439,000.

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.