SanDisk Corp. (SNDK)

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SanDisk (SNDK) Shares Given New $51.00 Price Target by Analyst at Wedbush

Posted by LUSA Staff on Jan 25th, 2012 // No Comments

Wedbush increased their price target on shares of SanDisk (NASDAQ: SNDK) to $51.00 in a research note issued on Wednesday.
Separately, analysts at Nomura (NYSE: NMR) reiterated a “buy” rating on shares of SanDisk in a research note to investors on Monday. Analysts at Sterne Agee upgraded shares of SanDisk from a “neutral” rating to a “buy” rating in a research note to investors on Friday, January 6th. They now have a $57.00 price target on the stock. Also, analysts at Citigroup (NYSE: C) downgraded shares of SanDisk to a “neutral” rating in a research note to investors on Tuesday, January 3rd. They noted that the move was a valuation call.

SanDisk Corporation (SanDisk) is engaged in designing, developing and manufacturing data storage solutions in a range of form factors using the flash memory, controller and firmware technologies. The Company operates through flash memory storage products segment. Most of its products are manufactured by combining NAND flash memory with a controller chip. The Company’s solutions include removable cards, embedded products, universal serial bus (USB) drives, digital media players, wafers and components. The removable card products are used in a range of consumer electronics devices, such as mobile phones, digital cameras, gaming devices and laptop computers. Its embedded flash products are used in mobile phones, tablets, eReaders, global positioning system, (GPS), devices, gaming systems, imaging devices and computing platforms. In May 2011, it acquired Pliant Technology, Inc., pursuant to which Pliant Technology became SanDisk’s Enterprise Storage Solutions business.

SanDisk opened at 51.725 on Wednesday. SanDisk has a 1-year low of $32.24 and a 1-year high of $53.46. The stock has a 50-day moving average of $49.83 and a 200-day moving average of $44.83. The company has a market cap of $12.429 billion and a price-to-earnings ratio of 10.40.
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