Sandisk Corporation (NASDAQ:SNDK – Get Free Report) has earned a consensus rating of “Moderate Buy” from the twenty-eight analysts that are currently covering the stock, Marketbeat Ratings reports. Five investment analysts have rated the stock with a hold rating, twenty-two have given a buy rating and one has assigned a strong buy rating to the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $2,056.23.
A number of research analysts have recently issued reports on SNDK shares. Susquehanna cut their price target on Sandisk from $2,745.00 to $2,720.00 and set a “positive” rating on the stock in a report on Friday, October 30th. Zacks Research upgraded Sandisk from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 13th. UBS Group reaffirmed an “overweight” rating and set a $1,750.00 price objective on shares of Sandisk in a research report on Friday, August 14th. JPMorgan Chase & Co. initiated coverage on Sandisk in a research note on Friday, August 14th. They issued an “overweight” rating and a $2,250.00 target price on the stock. Finally, Wedbush reiterated an “outperform” rating and issued a $2,000.00 target price on shares of Sandisk in a report on Friday, August 14th.
Read Our Latest Stock Analysis on SNDK
Sandisk Stock Performance
NASDAQ SNDK opened at $886.51 on Thursday. The company has a market cap of $126.14 billion, a PE ratio of 8.88, a P/E/G ratio of 0.08 and a beta of 5.66. The firm’s 50 day moving average price is $1,492.47 and its 200-day moving average price is $1,266.90. Sandisk has a 52-week low of $183.00 and a 52-week high of $2,354.39.
Sandisk’s stock is scheduled to split before the market opens on Friday, November 20th. The 8-1 split was announced on Thursday, October 29th. The newly issued shares will be distributed to shareholders after the closing bell on Thursday, November 19th.
Sandisk (NASDAQ:SNDK – Get Free Report) last posted its earnings results on Thursday, October 29th. The data storage provider reported $49.51 earnings per share for the quarter, topping analysts’ consensus estimates of $46.19 by $3.32. The company had revenue of $11.03 billion during the quarter. Sandisk had a return on equity of 125.70% and a net margin of 67.04%. The firm’s quarterly revenue was up 23.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.22 EPS. On average, analysts forecast that Sandisk will post 226.01 earnings per share for the current fiscal year.
Sandisk announced that its board has authorized a share repurchase plan on Wednesday, August 5th that permits the company to buy back $14 billion in shares. This repurchase authorization permits the data storage provider to purchase up to 6.6% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s management believes its stock is undervalued.
More Sandisk News
Here are the key news stories impacting Sandisk this week:
- Positive Sentiment: Sandisk’s latest quarterly results beat earnings expectations, with revenue of $11.03 billion. Recent bullish analyst commentary argues that the pullback has left the shares undervalued and points to AI-related demand, buybacks, and the company’s cash position as supports. Sandisk: This Is Not Over (Rating Upgrade)
- Positive Sentiment: The day’s move also appears to reflect a broader recovery in memory stocks after last week’s selloff, rather than a new company-specific announcement. Why are Micron and SanDisk stocks rising today?
- Neutral Sentiment: Sandisk’s announced 8-for-1 stock split may make shares more accessible to some investors, but a split by itself does not change the company’s value. Sandisk: Following A 60 Percent Decline It’s Too Cheap To Ignore
- Negative Sentiment: Recent losses reflected investor fears that political changes could weigh on data-center investment and AI-related stocks. Bears also warn that today’s earnings strength may not last: memory prices and margins could face pressure, and some argue the apparent low forward valuation depends on optimistic assumptions. SanDisk down 64% as post-election data center fears hit Sandisk: The Mirage Of A 2.9x Forward 2028 P/E
Insider Activity
In other news, insider Bernard Shek sold 2,308 shares of Sandisk stock in a transaction that occurred on Tuesday, September 8th. The shares were sold at an average price of $1,767.33, for a total value of $4,078,997.64. Following the transaction, the insider owned 25,305 shares of the company’s stock, valued at $44,722,285.65. The trade was a 8.36% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Alper Ilkbahar sold 4,712 shares of the business’s stock in a transaction that occurred on Thursday, September 3rd. The stock was sold at an average price of $1,540.58, for a total transaction of $7,259,212.96. Following the transaction, the executive vice president owned 44,134 shares of the company’s stock, valued at approximately $67,991,957.72. This trade represents a 9.65% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 77,899 shares of company stock worth $121,156,782 in the last quarter. 0.29% of the stock is currently owned by corporate insiders.
Hedge Funds Weigh In On Sandisk
A number of large investors have recently made changes to their positions in SNDK. Western Wealth Management LLC raised its stake in Sandisk by 3.1% in the third quarter. Western Wealth Management LLC now owns 573 shares of the data storage provider’s stock valued at $997,000 after buying an additional 17 shares during the last quarter. Francis Financial Inc. grew its stake in shares of Sandisk by 15.0% during the third quarter. Francis Financial Inc. now owns 138 shares of the data storage provider’s stock worth $240,000 after acquiring an additional 18 shares during the last quarter. Intech Investment Management LLC increased its holdings in shares of Sandisk by 18.3% during the third quarter. Intech Investment Management LLC now owns 9,205 shares of the data storage provider’s stock valued at $16,016,000 after acquiring an additional 1,427 shares in the last quarter. Silver Oak Securities Incorporated increased its holdings in shares of Sandisk by 109.4% during the third quarter. Silver Oak Securities Incorporated now owns 536 shares of the data storage provider’s stock valued at $933,000 after acquiring an additional 280 shares in the last quarter. Finally, Wall Street Financial Group Inc. increased its holdings in shares of Sandisk by 19.1% during the third quarter. Wall Street Financial Group Inc. now owns 224 shares of the data storage provider’s stock valued at $389,000 after acquiring an additional 36 shares in the last quarter.
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.
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