Sandisk (NASDAQ:SNDK) Stock Price Up 4.6% – Should You Buy?

Sandisk Corporation (NASDAQ:SNDK)’s stock price was up 4.6% during mid-day trading on Friday . The stock traded as high as $650.29 and last traded at $649.97. Approximately 16,823,926 shares changed hands during trading, a decline of 15% from the average daily volume of 19,794,645 shares. The stock had previously closed at $621.09.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on SNDK shares. Barclays upped their price objective 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. China Renaissance began coverage on shares of Sandisk in a research note on Friday, December 5th. They set a “buy” rating and a $322.00 price target on the stock. Wells Fargo & Company raised their price target on shares of Sandisk from $230.00 to $380.00 and gave the stock an “equal weight” rating in a report on Thursday, January 15th. Fox Advisors raised shares of Sandisk from a “hold” rating to a “strong-buy” rating in a report on Friday, November 7th. Finally, Morgan Stanley set a $690.00 target price on Sandisk in a research note on Friday, January 30th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Sandisk currently has a consensus rating of “Moderate Buy” and an average price target of $542.85.

Sandisk Stock Performance

The firm’s 50 day moving average is $427.09 and its 200-day moving average is $238.06. The stock has a market capitalization of $95.94 billion and a price-to-earnings ratio of -85.64. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.92 and a current ratio of 3.11.

Sandisk (NASDAQ:SNDK) last released its quarterly earnings results on Thursday, January 29th. The data storage provider reported $6.20 EPS for the quarter, beating the consensus estimate 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 company had revenue of $3.03 billion for the quarter, compared to analyst estimates of $2.67 billion. The company’s quarterly revenue was up 61.2% on a year-over-year basis.

Insider Buying and Selling

In other Sandisk news, Director Necip Sayiner sold 1,271 shares of the firm’s stock in a transaction that occurred on Wednesday, December 3rd. The stock was sold at an average price of $195.14, for a total value of $248,022.94. Following the sale, the director directly owned 3,479 shares of the company’s stock, 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 document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.21% of the company’s stock.

Institutional Investors Weigh In On Sandisk

Institutional investors have recently added to or reduced their stakes in the stock. Greenline Wealth Management LLC acquired a new stake in shares of Sandisk in the fourth quarter valued at about $26,000. Whittier Trust Co. purchased a new position in Sandisk in the 4th quarter valued at about $26,000. Chung Wu Investment Group LLC purchased a new position in Sandisk in the 4th quarter valued at about $27,000. Westfuller Advisors LLC boosted its holdings in Sandisk by 51.8% in the 4th quarter. Westfuller Advisors LLC now owns 126 shares of the data storage provider’s stock worth $30,000 after buying an additional 43 shares during the last quarter. Finally, TD Private Client Wealth LLC increased its stake in Sandisk by 137.9% during the 4th quarter. TD Private Client Wealth LLC now owns 138 shares of the data storage provider’s stock worth $33,000 after buying 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.