Sandisk (NASDAQ:SNDK) Stock Price Down 7.6% – Should You Sell?

Sandisk Corporation (NASDAQ:SNDK) shares traded down 7.6% on Tuesday . The stock traded as low as $612.92 and last traded at $615.63. 21,538,380 shares were traded during trading, an increase of 9% from the average session volume of 19,744,584 shares. The stock had previously closed at $666.49.

Analyst Ratings Changes

Several equities research analysts have recently commented on SNDK shares. Fox Advisors raised Sandisk from a “hold” rating to a “strong-buy” rating in a report on Friday, November 7th. Jefferies Financial Group raised their target price on shares of Sandisk from $600.00 to $700.00 and gave the stock a “buy” rating in a report on Friday, January 30th. UBS Group set a $1,000.00 target price on shares of Sandisk in a research report on Monday, February 2nd. Barclays boosted their price target on shares of Sandisk from $385.00 to $750.00 and gave the company an “equal weight” rating in a report on Monday, February 2nd. Finally, The Goldman Sachs Group raised their price objective on shares of Sandisk from $320.00 to $700.00 and gave the stock a “buy” rating in a research note on Friday, January 30th. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Sandisk has a consensus rating of “Moderate Buy” and a consensus target price of $542.85.

Sandisk Stock Down 6.4%

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 capitalization of $92.04 billion and a PE ratio of -82.15. The business’s 50-day moving average price is $436.39 and its 200-day moving average price is $245.22.

Sandisk (NASDAQ:SNDK) last announced its quarterly earnings data 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 the consensus estimate of $2.67 billion. Sandisk’s revenue was up 61.2% compared to the same quarter last year.

Insider Buying and Selling at Sandisk

In related 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 completion of the sale, the director directly owned 3,479 shares in the company, valued at approximately $678,892.06. This trade represents a 26.76% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.21% of the company’s stock.

Institutional Investors Weigh In On Sandisk

A number of hedge funds and other institutional investors have recently made changes to their positions in SNDK. Greenline Wealth Management LLC acquired a new position in Sandisk in the fourth quarter worth approximately $26,000. Whittier Trust Co. bought a new stake in Sandisk in the fourth quarter worth approximately $26,000. Chung Wu Investment Group LLC acquired a new position in shares of Sandisk during the 4th quarter worth $27,000. Westfuller Advisors LLC increased its stake in shares of Sandisk by 51.8% during the 4th quarter. Westfuller Advisors LLC now owns 126 shares of the data storage provider’s stock worth $30,000 after purchasing an additional 43 shares during the last quarter. Finally, TD Private Client Wealth LLC raised its holdings in shares of Sandisk by 137.9% during the 4th quarter. TD Private Client Wealth LLC now owns 138 shares of the data storage provider’s stock valued at $33,000 after purchasing an additional 80 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.