Sandisk Corporation (NASDAQ:SNDK) Receives Consensus Rating of “Moderate Buy” from Analysts

Shares of Sandisk Corporation (NASDAQ:SNDK) have been assigned a consensus recommendation of “Moderate Buy” from the twenty ratings firms that are presently covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, eight have given a hold recommendation, nine have issued a buy recommendation and two have issued a strong buy recommendation on the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $105.1875.

A number of equities analysts recently weighed in on SNDK shares. Sanford C. Bernstein upgraded shares of Sandisk to a “strong-buy” rating in a research report on Tuesday, September 16th. Wells Fargo & Company upped their price target on shares of Sandisk from $50.00 to $115.00 and gave the stock an “equal weight” rating in a research note on Monday, October 13th. Jefferies Financial Group started coverage on shares of Sandisk in a research note on Monday, July 7th. They set a “buy” rating and a $60.00 price target on the stock. Morgan Stanley upped their price target on shares of Sandisk from $70.00 to $96.00 and gave the stock an “overweight” rating in a research note on Thursday, September 11th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Sandisk in a research note on Wednesday, October 8th.

Hedge Funds Weigh In On Sandisk

A number of institutional investors and hedge funds have recently made changes to their positions in SNDK. Osaic Holdings Inc. acquired a new position in shares of Sandisk during the 2nd quarter worth $317,000. Corient Private Wealth LLC purchased a new stake in shares of Sandisk in the 2nd quarter worth about $353,000. Praxis Investment Management Inc. purchased a new stake in shares of Sandisk in the 3rd quarter worth about $533,000. GAMMA Investing LLC purchased a new stake in shares of Sandisk in the 3rd quarter worth about $439,000. Finally, Voya Investment Management LLC purchased a new stake in shares of Sandisk in the 3rd quarter worth about $8,917,000.

Sandisk Stock Performance

NASDAQ:SNDK opened at $195.82 on Friday. The firm’s fifty day moving average price is $106.72 and its 200 day moving average price is $63.54. Sandisk has a 1-year low of $27.89 and a 1-year high of $205.64. The company has a debt-to-equity ratio of 0.20, a current ratio of 3.56 and a quick ratio of 2.11. The firm has a market cap of $28.67 billion and a price-to-earnings ratio of -337.62.

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.