US Bancorp DE Acquires Shares of 8,221 Sandisk Corporation $SNDK

US Bancorp DE bought a new stake in shares of Sandisk Corporation (NASDAQ:SNDK) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm bought 8,221 shares of the data storage provider’s stock, valued at approximately $922,000.

A number of other hedge funds and other institutional investors have also modified their holdings of SNDK. Vanguard Personalized Indexing Management LLC purchased a new stake in Sandisk during the 3rd quarter worth approximately $1,136,000. New York State Teachers Retirement System purchased a new position in shares of Sandisk during the 3rd quarter valued at approximately $13,546,000. Sage Rhino Capital LLC purchased a new position in shares of Sandisk during the 3rd quarter valued at approximately $587,000. Y Intercept Hong Kong Ltd acquired a new stake in shares of Sandisk during the third quarter worth approximately $7,046,000. Finally, Sumitomo Mitsui Trust Group Inc. bought a new stake in shares of Sandisk in the third quarter worth $514,000.

Analyst Ratings Changes

Several research firms recently issued reports on SNDK. Raymond James Financial raised shares of Sandisk from a “market perform” rating to an “outperform” rating and set a $725.00 price target on the stock in a report on Friday, January 30th. UBS Group set a $1,000.00 price objective on shares of Sandisk in a report on Monday, February 2nd. Barclays upped 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. Susquehanna increased their price target on shares of Sandisk from $250.00 to $300.00 and gave the stock a “positive” rating in a research report on Monday, December 8th. Finally, Citigroup boosted their price objective on Sandisk from $490.00 to $750.00 and gave the company a “buy” rating in a report on Monday, February 2nd. Two analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $542.85.

Insiders Place Their Bets

In related news, Director Miyuki Suzuki sold 3,500 shares of the stock in a transaction dated Wednesday, February 25th. The shares were sold at an average price of $627.53, for a total transaction of $2,196,355.00. Following the sale, the director owned 9,907 shares in the company, valued at $6,216,939.71. This represents a 26.11% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.21% of the stock is currently owned by company insiders.

Sandisk Stock Down 6.8%

SNDK stock opened at $527.33 on Friday. The firm has a market cap of $77.83 billion and a price-to-earnings ratio of -69.48. Sandisk Corporation has a 1-year low of $27.89 and a 1-year high of $725.00. The firm has a fifty day moving average price of $502.89 and a two-hundred day moving average price of $277.38. The company has a debt-to-equity ratio of 0.06, a current ratio of 3.11 and a quick ratio of 1.92.

Sandisk (NASDAQ:SNDK) last posted its quarterly 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 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 the consensus estimate 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.