waypoint wealth counsel Takes Position in Sandisk Corporation $SNDK

Key Points

• Waypoint Wealth Counsel acquired a new stake of 1,632 shares in Sandisk (NASDAQ:SNDK) in Q4, valued at about $387,000.
• Analysts have turned more bullish—several firms raised price targets (Bank of America to $1,080, KGI to $992, Goldman to $700) and the consensus rating is a “Moderate Buy” with an average target of $752.48.
• Sandisk posted strong quarterly results, beating estimates with $6.20 EPS versus $3.31 expected and revenue of $3.03 billion, up 61.2% year-over-year.

waypoint wealth counsel acquired a new stake in Sandisk Corporation (NASDAQ:SNDK - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 1,632 shares of the data storage provider's stock, valued at approximately $387,000.

Other hedge funds also recently modified their holdings of the company. Whittier Trust Co. bought a new stake in shares of Sandisk in the fourth quarter valued at approximately $26,000. Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in shares of Sandisk in the third quarter valued at approximately $27,000. CVA Family Office LLC bought a new stake in shares of Sandisk in the third quarter valued at approximately $28,000. Parallel Advisors LLC bought a new stake in shares of Sandisk in the third quarter valued at approximately $30,000. Finally, Westfuller Advisors LLC boosted its position in shares of Sandisk by 51.8% in the fourth quarter. Westfuller Advisors LLC now owns 126 shares of the data storage provider's stock valued at $30,000 after acquiring an additional 43 shares during the period.

Analysts Set New Price Targets

Several research firms have commented on SNDK. KGI Securities began coverage on Sandisk in a report on Wednesday, March 18th. They issued an "outperform" rating and a $992.00 price target for the company. Bank of America upped their price target on Sandisk from $900.00 to $1,080.00 and gave the company a "buy" rating in a report on Friday, April 17th. The Goldman Sachs Group upped their price target on Sandisk from $320.00 to $700.00 and gave the company a "buy" rating in a report on Friday, January 30th. Barclays upped their price target on Sandisk from $385.00 to $750.00 and gave the company an "equal weight" rating in a report on Monday, February 2nd. Finally, Wall Street Zen raised Sandisk from a "buy" rating to a "strong-buy" rating in a report on Saturday, January 31st. Three research analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $752.48.

Sandisk Trading Down 2.5%

SNDK stock opened at $954.50 on Thursday. The business has a fifty day moving average price of $703.96 and a 200 day moving average price of $434.16. Sandisk Corporation has a fifty-two week low of $30.31 and a fifty-two week high of $981.06. The stock has a market capitalization of $140.88 billion, a price-to-earnings ratio of -126.45 and a beta of 5.04. 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 - Get Free Report) last released its quarterly earnings results on Thursday, January 29th. The data storage provider reported $6.20 earnings per share for the quarter, beating 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 firm had revenue of $3.03 billion during the quarter, compared to analysts' expectations of $2.67 billion. Sandisk's quarterly revenue was up 61.2% compared to the same quarter last year. Analysts expect that Sandisk Corporation will post 39.01 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director Miyuki Suzuki sold 3,500 shares of the firm's stock in a transaction on Wednesday, February 25th. The stock was sold at an average price of $627.53, for a total transaction of $2,196,355.00. Following the completion of the sale, the director directly owned 9,907 shares of the company's stock, valued at $6,216,939.71. This trade represents a 26.11% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.21% of the stock is owned by corporate insiders.

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. It offers SSDs for client computing applications, which encompass desktop computers, notebook computers, tablets and other computing devices.

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