Sandisk Corporation $SNDK Position Boosted by SG Americas Securities LLC

SG Americas Securities LLC boosted its holdings in Sandisk Corporation (NASDAQ:SNDK) by 6,940.8% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 453,144 shares of the data storage provider’s stock after acquiring an additional 446,708 shares during the quarter. SG Americas Securities LLC owned 0.31% of Sandisk worth $107,567,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in the business. Wealth Enhancement Advisory Services LLC boosted its position in Sandisk by 5.0% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 31,691 shares of the data storage provider’s stock worth $7,523,000 after acquiring an additional 1,497 shares during the period. NorthCrest Asset Manangement LLC increased its holdings in shares of Sandisk by 12.4% during the fourth quarter. NorthCrest Asset Manangement LLC now owns 3,525 shares of the data storage provider’s stock valued at $837,000 after purchasing an additional 388 shares during the period. Wedmont Private Capital bought a new stake in shares of Sandisk during the fourth quarter valued at about $414,000. MassMutual Private Wealth & Trust FSB lifted its holdings in Sandisk by 18.2% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 752 shares of the data storage provider’s stock worth $179,000 after purchasing an additional 116 shares during the period. Finally, Riversedge Advisors LLC acquired a new stake in Sandisk in the fourth quarter worth about $242,000.

Analyst Ratings Changes

Several equities analysts have commented on the stock. Jefferies Financial Group raised their target price on shares of Sandisk from $600.00 to $700.00 and gave the company a “buy” rating in a research note on Friday, January 30th. Sanford C. Bernstein upped 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. Zacks Research upgraded shares of Sandisk from a “hold” rating to a “strong-buy” rating in a report on Friday, February 20th. Royal Bank Of Canada reiterated a “sector perform” rating and set a $650.00 price objective on shares of Sandisk in a research note on Friday, January 30th. Finally, Wedbush boosted their target price on Sandisk from $600.00 to $740.00 and gave the stock an “outperform” rating in a report on Friday, January 30th. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Sandisk presently has an average rating of “Moderate Buy” and an average price target of $594.48.

Insider Buying and Selling

In related news, Director Miyuki Suzuki sold 3,500 shares of the firm’s stock in a transaction that occurred on Wednesday, February 25th. The shares were sold at an average price of $627.53, for a total transaction of $2,196,355.00. Following the completion of the sale, the director directly owned 9,907 shares in the company, valued at approximately $6,216,939.71. This trade represents a 26.11% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.21% of the stock is currently owned by corporate insiders.

Sandisk Price Performance

Shares of Sandisk stock opened at $701.34 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’s 50-day moving average price is $586.72 and its two-hundred day moving average price is $329.70. Sandisk Corporation has a 52 week low of $27.89 and a 52 week high of $777.60. The stock has a market cap of $103.52 billion and a PE ratio of -92.40.

Sandisk (NASDAQ:SNDK) last posted 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 company had revenue of $3.03 billion during 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 company’s revenue for the quarter was up 61.2% on a year-over-year basis.

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.