Sandisk (NASDAQ:SNDK) Reaches New 1-Year High – Here’s What Happened

Sandisk Corporation (NASDAQ:SNDK) hit a new 52-week high during mid-day trading on Monday . The company traded as high as $213.40 and last traded at $207.13, with a volume of 1213610 shares trading hands. The stock had previously closed at $199.33.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. Benchmark raised their price target on shares of Sandisk from $85.00 to $125.00 and gave the company a “buy” rating in a report on Wednesday, September 24th. Citigroup raised their price target on shares of Sandisk from $125.00 to $150.00 and gave the company a “buy” rating in a report on Monday, October 13th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $50.00 price target on shares of Sandisk in a report on Friday, August 15th. Wedbush reissued an “outperform” rating and issued a $220.00 price objective (up previously from $60.00) on shares of Sandisk in a report on Wednesday, October 29th. Finally, Mizuho raised their price objective on shares of Sandisk to $215.00 and gave the stock an “outperform” rating in a report on Tuesday, October 28th. Two research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Sandisk has an average rating of “Moderate Buy” and a consensus price target of $120.41.

Sandisk Price Performance

The company has a quick ratio of 2.11, a current ratio of 3.56 and a debt-to-equity ratio of 0.20. The firm has a market cap of $31.52 billion and a PE ratio of -371.22. The firm’s fifty day simple moving average is $115.97 and its two-hundred day simple moving average is $67.52.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. John G Ullman & Associates Inc. bought a new position in Sandisk during the third quarter valued at $3,163,000. Bessemer Group Inc. purchased a new stake in shares of Sandisk during the third quarter valued at $114,000. Savant Capital LLC purchased a new stake in shares of Sandisk during the third quarter valued at $1,455,000. Machina Capital S.A.S. purchased a new stake in shares of Sandisk during the third quarter valued at $275,000. Finally, J.W. Cole Advisors Inc. purchased a new stake in shares of Sandisk during the third quarter valued at $1,899,000.

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.