Sandisk Corporation (NASDAQ:SNDK) Given Consensus Rating of “Moderate Buy” by Brokerages

Shares of Sandisk Corporation (NASDAQ:SNDK) have received an average rating of “Moderate Buy” from the twenty-three ratings firms that are currently covering the stock, MarketBeat reports. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $542.85.

A number of brokerages have commented on SNDK. Fox Advisors upgraded Sandisk from a “hold” rating to a “strong-buy” rating in a report on Friday, November 7th. JPMorgan Chase & Co. started coverage on Sandisk in a research report on Monday, December 8th. They issued a “neutral” rating and a $235.00 price objective on the stock. Barclays lifted their price objective on Sandisk from $385.00 to $750.00 and gave the stock an “equal weight” rating in a research report on Monday, February 2nd. Weiss Ratings restated a “sell (d+)” rating on shares of Sandisk in a report on Monday, December 29th. Finally, Morgan Stanley set a $690.00 price target on shares of Sandisk in a research note on Friday, January 30th.

Sandisk Stock Performance

NASDAQ:SNDK opened at $583.40 on Tuesday. The company has a current ratio of 3.11, a quick ratio of 1.92 and a debt-to-equity ratio of 0.06. The company has a market capitalization of $86.09 billion and a P/E ratio of -76.86. The firm has a 50-day moving average price of $356.71 and a two-hundred day moving average price of $204.87. Sandisk has a twelve month low of $27.89 and a twelve month high of $725.00.

Sandisk (NASDAQ:SNDK) last announced its quarterly earnings results on Thursday, January 29th. The data storage provider reported $6.20 earnings per share (EPS) for the quarter, beating the consensus estimate 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 company had revenue of $3.03 billion for the quarter, compared to the consensus estimate of $2.67 billion. The company’s revenue for the quarter was up 61.2% compared to the same quarter last year.

Insiders Place Their Bets

In other Sandisk news, Director Necip Sayiner sold 1,271 shares of the stock in a transaction on Wednesday, December 3rd. The stock was sold at an average price of $195.14, for a total transaction of $248,022.94. Following the transaction, the director owned 3,479 shares of the company’s stock, valued at $678,892.06. This represents a 26.76% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Company insiders own 0.21% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in SNDK. Whittier Trust Co. acquired a new stake in Sandisk during the fourth quarter worth about $26,000. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in Sandisk during the 3rd quarter worth approximately $27,000. Chung Wu Investment Group LLC purchased a new position in Sandisk in the fourth quarter valued at approximately $27,000. CVA Family Office LLC acquired a new position in Sandisk during the third quarter valued at approximately $28,000. Finally, Westfuller Advisors LLC grew its stake in Sandisk by 51.8% during the fourth quarter. Westfuller Advisors LLC now owns 126 shares of the data storage provider’s stock worth $30,000 after buying an additional 43 shares during the period.

Sandisk Company 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.