Sandisk (NASDAQ:SNDK) Shares Down 6.8% - Time to Sell?

Key Points

• Shares of Sandisk fell 6.8% to about $527 on Friday, trading ~20% below average session volume during the drop.
• Sandisk posted a quarterly beat—EPS $6.20 vs. $3.31 and revenue of $3.03B (+61.2% YoY)—but still shows a negative net margin (-11.66%) and a negative P/E.
• Analysts are mixed but the consensus is a Moderate Buy with an average price target of $542.85, while individual targets range widely (e.g., Raymond James $725, Benchmark $450, Weiss Ratings sell).

Sandisk Corporation (NASDAQ:SNDK - Get Free Report)'s stock price traded down 6.8% during trading on Friday . The stock traded as low as $526.63 and last traded at $527.33. 15,838,149 shares traded hands during mid-day trading, a decline of 20% from the average session volume of 19,694,521 shares. The stock had previously closed at $565.59.

Analyst Ratings Changes

Several equities research analysts have issued reports on SNDK shares. Benchmark lifted their price objective on Sandisk from $260.00 to $450.00 and gave the stock a "buy" rating in a report on Thursday, January 15th. Susquehanna increased their price objective on shares of Sandisk from $250.00 to $300.00 and gave the company a "positive" rating in a research note on Monday, December 8th. Raymond James Financial raised shares of Sandisk from a "market perform" rating to an "outperform" rating and set a $725.00 target price for the company in a research report on Friday, January 30th. Weiss Ratings reaffirmed a "sell (d+)" rating on shares of Sandisk in a research report on Monday, December 29th. Finally, Wall Street Zen upgraded Sandisk from a "buy" rating to a "strong-buy" rating in a research note on Saturday, January 31st. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, six have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $542.85.

Sandisk Stock Down 6.8%

The company has a quick ratio of 1.92, a current ratio of 3.11 and a debt-to-equity ratio of 0.06. The firm's 50-day moving average price is $497.35 and its 200 day moving average price is $274.02. The firm has a market cap of $77.83 billion and a P/E ratio of -69.48.

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 company had revenue of $3.03 billion for the quarter, compared to analysts' expectations of $2.67 billion. The business's revenue for the quarter was up 61.2% on a year-over-year basis.

Insider Transactions at Sandisk

In other Sandisk news, Director Miyuki Suzuki sold 3,500 shares of the firm's 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 transaction, the director owned 9,907 shares of the company's stock, valued at approximately $6,216,939.71. This trade represents a 26.11% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.21% of the stock is owned by corporate insiders.

Institutional Trading of Sandisk

A number of institutional investors have recently made changes to their positions in SNDK. Hsbc Holdings PLC raised its holdings in Sandisk by 351.1% during the 4th quarter. Hsbc Holdings PLC now owns 176,439 shares of the data storage provider's stock worth $41,959,000 after buying an additional 246,699 shares during the period. Pure Financial Advisors LLC purchased a new position in shares of Sandisk during the fourth quarter valued at $288,000. Caitong International Asset Management Co. Ltd raised its position in Sandisk by 126.2% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 9,954 shares of the data storage provider's stock valued at $2,363,000 after buying an additional 5,554 shares during the period. SG Trading Solutions LLC purchased a new stake in Sandisk in the 4th quarter worth about $247,000. Finally, Pacer Advisors Inc. acquired a new stake in Sandisk during the 4th quarter worth about $2,624,000.

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

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