WT Asset Management Ltd Purchases New Shares in Sandisk Corporation $SNDK

WT Asset Management Ltd purchased a new stake in Sandisk Corporation (NASDAQ:SNDK) in the third quarter, Holdings Channel.com reports. The firm purchased 40,000 shares of the data storage provider’s stock, valued at approximately $4,488,000. Sandisk makes up about 0.2% of WT Asset Management Ltd’s investment portfolio, making the stock its 29th biggest position.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Vanguard Group Inc. bought a new position in shares of Sandisk in the third quarter worth about $1,970,388,000. Parnassus Investments LLC bought a new stake in shares of Sandisk during the third quarter valued at approximately $103,815,000. Principal Financial Group Inc. acquired a new stake in shares of Sandisk in the third quarter valued at approximately $74,265,000. Public Sector Pension Investment Board bought a new position in Sandisk in the 3rd quarter worth approximately $60,415,000. Finally, GF Fund Management CO. LTD. acquired a new position in Sandisk during the 3rd quarter worth $45,206,000.

Insider Transactions at Sandisk

In other Sandisk news, Director Necip Sayiner sold 1,271 shares of Sandisk stock in a transaction dated 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 owned 3,479 shares of the company’s stock, valued at $678,892.06. This trade represents a 26.76% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 0.21% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on SNDK shares. Morgan Stanley set a $690.00 target price on Sandisk in a research report on Friday, January 30th. Barclays raised their target price 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. Wells Fargo & Company boosted their price target on shares of Sandisk from $230.00 to $380.00 and gave the stock an “equal weight” rating in a research note on Thursday, January 15th. Royal Bank Of Canada reaffirmed a “sector perform” rating and issued a $650.00 price objective on shares of Sandisk in a research note on Friday, January 30th. Finally, Fox Advisors upgraded shares of Sandisk from a “hold” rating to a “strong-buy” rating in a research report on Friday, November 7th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $542.85.

Sandisk Stock Up 2.5%

Shares of NASDAQ SNDK traded up $15.61 during mid-day trading on Friday, reaching $636.70. 3,815,428 shares of the company’s stock were exchanged, compared to its average volume of 19,377,988. Sandisk Corporation has a twelve month low of $27.89 and a twelve month high of $725.00. The company has a current ratio of 3.11, a quick ratio of 1.92 and a debt-to-equity ratio of 0.06. The firm has a market capitalization of $93.98 billion and a price-to-earnings ratio of -83.89. The business has a fifty day simple moving average of $418.22 and a 200 day simple moving average of $233.84.

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

Sandisk 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.