L & S Advisors Inc Takes Position in Sandisk Corporation $SNDK

L & S Advisors Inc purchased a new position in shares of Sandisk Corporation (NASDAQ:SNDK) in the 3rd quarter, Holdings Channel reports. The institutional investor purchased 32,238 shares of the data storage provider’s stock, valued at approximately $3,617,000.

Other institutional investors also recently added to or reduced their stakes in the company. CVA Family Office LLC purchased a new position in shares of Sandisk during the 3rd quarter worth approximately $28,000. Covestor Ltd acquired a new position in Sandisk during the third quarter worth $37,000. Cromwell Holdings LLC purchased a new position in Sandisk in the third quarter worth $39,000. True Wealth Design LLC acquired a new stake in Sandisk in the third quarter valued at $40,000. Finally, Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of Sandisk during the 3rd quarter worth $41,000.

Insider Buying and Selling at Sandisk

In other Sandisk 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 transaction, the director owned 3,479 shares of the company’s stock, valued at $678,892.06. This represents a 26.76% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. 0.21% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several analysts recently commented on the stock. Jefferies Financial Group raised their price objective 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. Raymond James Financial raised Sandisk from a “market perform” rating to an “outperform” rating and set a $725.00 price target on the stock in a research note on Friday, January 30th. Sanford C. Bernstein raised their price objective on Sandisk from $300.00 to $580.00 and gave the company an “outperform” rating in a research note on Wednesday, January 14th. Citigroup boosted their target price on Sandisk from $490.00 to $750.00 and gave the stock a “buy” rating in a research report on Monday, February 2nd. Finally, UBS Group set a $1,000.00 price target on Sandisk in a research report on Monday, February 2nd. One research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Sandisk has a consensus rating of “Moderate Buy” and a consensus price target of $542.85.

Sandisk Trading Up 1.7%

Shares of SNDK stock opened at $600.40 on Thursday. The company has a market capitalization of $88.60 billion and a price-to-earnings ratio of -79.10. 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 firm has a 50-day moving average price of $410.63 and a 200 day moving average price of $231.13. Sandisk Corporation has a twelve month low of $27.89 and a twelve month high of $725.00.

Sandisk (NASDAQ:SNDK) last issued its quarterly earnings results on Thursday, January 29th. The data storage provider reported $6.20 EPS for the quarter, topping analysts’ consensus estimates of $3.31 by $2.89. The business had revenue of $3.03 billion during the quarter, compared to the consensus estimate 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 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.