Zacks Research Upgrades Sandisk (NASDAQ:SNDK) to "Hold"

Key Points

• Zacks Research upgraded Sandisk (NASDAQ:SNDK) from a "strong sell" to a "hold" rating, reflecting a shift in market sentiment.
• Multiple analysts, including Goldman's and Morgan Stanley, have significantly raised their target prices for Sandisk, indicating a positive outlook with ratings from "buy" to "strong buy."
• Sandisk's shares have experienced substantial volatility, with a 12-month low of $27.89 and a high of $144.55, highlighting recent investor interest and market movements.

Sandisk (NASDAQ:SNDK - Get Free Report) was upgraded by research analysts at Zacks Research from a "strong sell" rating to a "hold" rating in a note issued to investors on Tuesday,Zacks.com reports.

A number of other analysts have also weighed in on the company. The Goldman Sachs Group upped their target price on Sandisk from $55.00 to $140.00 and gave the stock a "buy" rating in a report on Thursday, October 9th. Morgan Stanley lifted their target price on shares of Sandisk from $70.00 to $96.00 and gave the company an "overweight" rating in a report on Thursday, September 11th. Bank of America upped their price objective on shares of Sandisk from $59.00 to $125.00 and gave the company a "buy" rating in a research note on Tuesday, September 23rd. Sanford C. Bernstein raised shares of Sandisk to a "strong-buy" rating in a report on Tuesday, September 16th. Finally, Benchmark increased their target price on shares of Sandisk from $85.00 to $125.00 and gave the company a "buy" rating in a report on Wednesday, September 24th. Two research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $88.44.

Sandisk Price Performance

Shares of SNDK opened at $144.30 on Tuesday. Sandisk has a 12 month low of $27.89 and a 12 month high of $144.55. The company has a current ratio of 3.56, a quick ratio of 2.11 and a debt-to-equity ratio of 0.20. The business's fifty day simple moving average is $79.84 and its two-hundred day simple moving average is $53.75.

Institutional Trading of Sandisk

Large investors have recently added to or reduced their stakes in the business. Farther Finance Advisors LLC acquired a new position in Sandisk during the 3rd quarter valued at $108,000. Parcion Private Wealth LLC bought a new position in shares of Sandisk in the 3rd quarter valued at about $200,000. ARS Investment Partners LLC bought a new position in Sandisk during the 3rd quarter worth approximately $248,000. S.A. Mason LLC acquired a new stake in Sandisk during the 3rd quarter worth approximately $252,000. Finally, Osaic Holdings Inc. acquired a new stake in Sandisk during the 2nd quarter worth approximately $317,000.

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.

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