Teachers Retirement System of The State of Kentucky Makes New Investment in Sandisk Corporation $SNDK

Teachers Retirement System of The State of Kentucky bought a new stake in Sandisk Corporation (NASDAQ:SNDK) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 38,006 shares of the data storage provider’s stock, valued at approximately $4,264,000.

Other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. bought a new position in Sandisk during the 3rd quarter valued at about $1,970,388,000. Victory Capital Management Inc. purchased a new position in shares of Sandisk during the third quarter valued at approximately $120,363,000. Parnassus Investments LLC purchased a new position in shares of Sandisk during the third quarter valued at approximately $103,815,000. DNB Asset Management AS bought a new position in shares of Sandisk during the third quarter valued at approximately $94,540,000. Finally, Principal Financial Group Inc. purchased a new stake in shares of Sandisk in the third quarter worth approximately $74,265,000.

Insider Transactions at Sandisk

In other Sandisk news, Director Miyuki Suzuki sold 3,500 shares of the business’s stock in a transaction dated 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 directly owned 9,907 shares in the company, valued at approximately $6,216,939.71. The trade was a 26.11% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.21% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on SNDK. Citigroup boosted their price objective on Sandisk from $490.00 to $750.00 and gave the company a “buy” rating in a report on Monday, February 2nd. Fox Advisors upgraded Sandisk from a “hold” rating to a “strong-buy” rating in a research report on Friday, November 7th. Weiss Ratings reissued a “sell (d+)” rating on shares of Sandisk in a research note on Monday, December 29th. Sanford C. Bernstein raised their price target on shares of Sandisk from $300.00 to $580.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 14th. Finally, Susquehanna lifted their price objective on shares of Sandisk from $250.00 to $300.00 and gave the company a “positive” rating in a report on Monday, December 8th. Two analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Sandisk presently has an average rating of “Moderate Buy” and an average price target of $542.85.

Sandisk Stock Up 6.0%

Sandisk stock opened at $599.06 on Thursday. The business has a fifty day moving average of $491.04 and a two-hundred day moving average of $271.99. The company has a quick ratio of 1.92, a current ratio of 3.11 and a debt-to-equity ratio of 0.06. The firm has a market cap of $88.42 billion and a P/E ratio of -78.93. Sandisk Corporation 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 analysts’ consensus estimates of $3.31 by $2.89. The business 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%.Sandisk’s quarterly revenue was up 61.2% compared to the same quarter last year.

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.