AXQ Capital LP Buys New Position in Sandisk Corporation $SNDK

AXQ Capital LP bought a new position in shares of Sandisk Corporation (NASDAQ:SNDK) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 6,555 shares of the data storage provider’s stock, valued at approximately $735,000.

A number of other institutional investors have also modified their holdings of SNDK. CVA Family Office LLC purchased a new position in shares of Sandisk during the third quarter worth about $28,000. Covestor Ltd acquired a new stake in Sandisk during the 3rd quarter worth approximately $37,000. Cromwell Holdings LLC purchased a new position in shares of Sandisk in the 3rd quarter valued at approximately $39,000. True Wealth Design LLC purchased a new position in shares of Sandisk in the 3rd quarter valued at approximately $40,000. Finally, Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of Sandisk in the third quarter valued at approximately $41,000.

Analyst Ratings Changes

Several brokerages recently weighed in on SNDK. Bank of America increased their price target on Sandisk from $300.00 to $390.00 and gave the stock a “buy” rating in a report on Wednesday, January 7th. Wells Fargo & Company raised their target price on shares of Sandisk from $230.00 to $380.00 and gave the stock an “equal weight” rating in a research note on Thursday, January 15th. Jefferies Financial Group lifted their target price on shares of Sandisk from $600.00 to $700.00 and gave the company a “buy” rating in a report on Friday, January 30th. Fox Advisors raised shares of Sandisk from a “hold” rating to a “strong-buy” rating in a report on Friday, November 7th. Finally, China Renaissance began coverage on Sandisk in a report on Friday, December 5th. They issued a “buy” rating and a $322.00 price objective on the stock. One analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Sandisk currently has a consensus rating of “Moderate Buy” and a consensus price target of $542.85.

Sandisk Stock Up 2.5%

SNDK opened at $666.49 on Tuesday. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.92 and a current ratio of 3.11. The company has a market cap of $98.37 billion and a price-to-earnings ratio of -87.81. Sandisk Corporation has a one year low of $27.89 and a one year high of $725.00. The business’s fifty day moving average is $436.39 and its two-hundred day moving average is $245.22.

Sandisk (NASDAQ:SNDK) last released its quarterly earnings results on Thursday, January 29th. The data storage provider reported $6.20 earnings per share (EPS) for the quarter, topping the consensus estimate 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 business had revenue of $3.03 billion during the quarter, compared to the consensus estimate of $2.67 billion. The business’s revenue for the quarter was up 61.2% compared to the same quarter last year.

Insider Activity

In other Sandisk news, Director Necip Sayiner sold 1,271 shares of the company’s stock in a transaction dated Wednesday, December 3rd. The shares were sold at an average price of $195.14, for a total value of $248,022.94. Following the sale, the director owned 3,479 shares of the company’s stock, valued at $678,892.06. This represents a 26.76% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.21% of the stock is owned by company insiders.

About Sandisk

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.