Sandisk (NASDAQ:SNDK) Given New $1,080.00 Price Target at Bank of America

Sandisk (NASDAQ:SNDK) had its price target lifted by research analysts at Bank of America from $900.00 to $1,080.00 in a report issued on Friday,Benzinga reports. The brokerage presently has a “buy” rating on the data storage provider’s stock. Bank of America‘s price target indicates a potential upside of 17.46% from the stock’s current price.

Other equities analysts have also recently issued reports about the stock. The Goldman Sachs Group boosted their price objective on shares of Sandisk from $320.00 to $700.00 and gave the company a “buy” rating in a research note on Friday, January 30th. Weiss Ratings reissued a “sell (d+)” rating on shares of Sandisk in a research note on Monday, December 29th. Benchmark boosted their price objective on shares of Sandisk from $260.00 to $450.00 and gave the company a “buy” rating in a research note on Thursday, January 15th. Barclays boosted their price objective on shares of Sandisk from $385.00 to $750.00 and gave the company an “equal weight” rating in a research note on Monday, February 2nd. Finally, Raymond James Financial raised shares of Sandisk from a “market perform” rating to an “outperform” rating and set a $725.00 price objective on the stock in a research note on Friday, January 30th. Three investment analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Sandisk presently has an average rating of “Moderate Buy” and an average price target of $692.68.

Sandisk Stock Performance

Shares of Sandisk stock opened at $919.47 on Friday. The company has a debt-to-equity ratio of 0.06, a current ratio of 3.11 and a quick ratio of 1.92. The stock has a market capitalization of $135.71 billion, a price-to-earnings ratio of -121.14 and a beta of 5.04. The firm’s fifty day simple moving average is $676.08 and its 200-day simple moving average is $409.39. Sandisk has a 12 month low of $28.94 and a 12 month high of $965.00.

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

Insider Buying and Selling at Sandisk

In other news, Director Miyuki Suzuki sold 3,500 shares of the company’s stock in a transaction 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 transaction, the director directly owned 9,907 shares of the company’s stock, valued at $6,216,939.71. This represents a 26.11% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.21% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Sandisk

Large investors have recently added to or reduced their stakes in the business. Roble Belko & Company Inc acquired a new stake in Sandisk in the 1st quarter valued at about $39,000. Greenline Wealth Management LLC acquired a new stake in shares of Sandisk during the 4th quarter worth about $26,000. Whittier Trust Co. acquired a new stake in shares of Sandisk during the 4th quarter worth about $26,000. Chung Wu Investment Group LLC acquired a new stake in shares of Sandisk during the 4th quarter worth about $27,000. Finally, Westfuller Advisors LLC boosted 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.

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.