Talos Eurisko Asset Management LP Purchases New Position in Sandisk Corporation $SNDK

Talos Eurisko Asset Management LP acquired a new stake in shares of Sandisk Corporation (NASDAQ:SNDK) during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 248,000 shares of the data storage provider’s stock, valued at approximately $27,826,000. Sandisk makes up about 5.4% of Talos Eurisko Asset Management LP’s portfolio, making the stock its 8th biggest position.

Several other large investors also recently added to or reduced their stakes in the business. Mitsubishi UFJ Asset Management Co. Ltd. bought a new position in shares of Sandisk during the 3rd quarter valued at $27,000. CVA Family Office LLC acquired a new stake in shares of Sandisk in the third quarter worth about $28,000. Covestor Ltd bought a new stake in shares of Sandisk during the 3rd quarter worth about $37,000. Cromwell Holdings LLC acquired a new position in shares of Sandisk during the 3rd quarter valued at about $39,000. Finally, True Wealth Design LLC acquired a new position in shares of Sandisk during the 3rd quarter valued at about $40,000.

Insiders Place Their Bets

In other Sandisk news, Director Miyuki Suzuki sold 3,500 shares of the business’s stock in a transaction dated Wednesday, February 25th. The stock was 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 of the company’s stock, valued at approximately $6,216,939.71. The trade was a 26.11% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.21% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the company. Wells Fargo & Company upped their target price on Sandisk from $230.00 to $380.00 and gave the stock an “equal weight” rating in a research report on Thursday, January 15th. Sanford C. Bernstein upped their price target on Sandisk from $300.00 to $580.00 and gave the stock an “outperform” rating in a report on Wednesday, January 14th. Cantor Fitzgerald increased their target price on shares of Sandisk from $550.00 to $800.00 and gave the company an “overweight” rating in a research note on Friday, January 30th. Morgan Stanley set a $690.00 price target on shares of Sandisk in a report on Friday, January 30th. Finally, UBS Group set a $1,000.00 target price on Sandisk in a report on Monday, February 2nd. Two research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $542.85.

Sandisk Stock Up 6.0%

NASDAQ SNDK opened at $599.06 on Thursday. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.92 and a current ratio of 3.11. The stock has a market capitalization of $88.42 billion and a P/E ratio of -78.93. The stock has a fifty day moving average of $491.04 and a 200-day moving average of $271.99. Sandisk Corporation has a 52 week low of $27.89 and a 52 week high of $725.00.

Sandisk (NASDAQ:SNDK) last announced its quarterly earnings data on Thursday, January 29th. The data storage provider reported $6.20 earnings per share for the quarter, beating the consensus estimate of $3.31 by $2.89. The business had revenue of $3.03 billion for the quarter, compared to analyst estimates of $2.67 billion. Sandisk had a negative net margin of 11.66% and a positive return on equity of 10.11%. The firm’s quarterly revenue was up 61.2% compared to the same quarter last year.

Sandisk 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.