A stock is given a rating between 1 and 5 where 1 represents a Strong Buy and 5 a Strong Sell. Post opening the session at $63.94, the shares hit an intraday low of $61.77 and an intraday high of $64.35 and the price vacillated in this range throughout the day.
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Micron and Western Digital seemed “perplexing” suitors for SanDisk, Wedbush Securities analyst Betsy van Hees said, adding that Micron already had a significant flash memory operation.
Taking a look at earnings, SanDisk Corporation last reported quarterly results for the period ending on 2014-12-31 of $0.55. Finally, Goldman Sachs downgraded SanDisk from a buy rating to a neutral rating and decreased their price objective for the stock from $73.00 to $55.00 in a report on Wednesday, September 16th. Following the completion of the sale, the senior vice president now directly owns 3,762 shares of the company’s stock, valued at approximately $225,720. The Insider information was disclosed with the Securities and Exchange Commission in a Form 4 filing. The firm earned $1.24 billion during the quarter, compared to the consensus estimate of $1.19 billion. The company reported net income of £53 million. Piper Jaffray restated a “buy” rating on shares of SanDisk in a report on Thursday, July 23rd. The target price could deviate by a maximum of $10.22 from the forecast price. The company’s revenue was down 24.3% on a year-over-year basis.
Brokerage firm analysts now have a consensus short term price target of $65.176 that cover the stock. Deutsche Bank’s price objective would suggest a potential downside of 2.87% from the company’s current price.
SanDisk, based in Silicon Valley, has started to lag behind the competition recently, as production delays and poor sales affect its enterprise flash products. The Business ‘s solutions include a wide selection of solid state drives (NASDAQ:SNDK), embedded products, removable cards, universal serial bus (USB), drives, wireless media drives, digital media players, and wafers and components. Its removable cards are used in a range of consumer electronics devices, such as mobile phones, digital cameras, gaming devices and laptop computers.
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SanDisk works closely with Toshiba to manufacture NAND flash memory. In addition, it provides software solutions, which are found in conjunction with flash storage products.
