Focus Partners Advisor Solutions LLC Invests $929,000 in Sandisk Corporation $SNDK

Focus Partners Advisor Solutions LLC bought a new stake in Sandisk Corporation (NASDAQ:SNDK) in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 8,282 shares of the data storage provider’s stock, valued at approximately $929,000.

Other large investors also recently bought and sold shares of the company. Vanguard Personalized Indexing Management LLC purchased a new position in shares of Sandisk in the 3rd quarter worth $1,136,000. New York State Teachers Retirement System bought a new stake in shares of Sandisk in the 3rd quarter worth about $13,546,000. Sage Rhino Capital LLC purchased a new stake in shares of Sandisk during the 3rd quarter valued at about $587,000. Y Intercept Hong Kong Ltd purchased a new stake in shares of Sandisk during the 3rd quarter valued at about $7,046,000. Finally, Sumitomo Mitsui Trust Group Inc. bought a new position in shares of Sandisk in the 3rd quarter valued at about $514,000.

Insider Activity

In other news, Director Miyuki Suzuki sold 3,500 shares of the 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 transaction, the director owned 9,907 shares of the company’s stock, valued at approximately $6,216,939.71. This represents a 26.11% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.21% of the company’s stock.

Analyst Upgrades and Downgrades

SNDK has been the topic of several analyst reports. Jefferies Financial Group boosted their price objective on Sandisk from $600.00 to $700.00 and gave the stock a “buy” rating in a research note on Friday, January 30th. Benchmark raised their price objective on Sandisk from $260.00 to $450.00 and gave the company a “buy” rating in a research note on Thursday, January 15th. Barclays lifted their target price on Sandisk from $385.00 to $750.00 and gave the stock an “equal weight” rating in a report on Monday, February 2nd. Raymond James Financial raised Sandisk from a “market perform” rating to an “outperform” rating and set a $725.00 target price on the stock in a research report on Friday, January 30th. Finally, Susquehanna increased their price target on Sandisk from $250.00 to $300.00 and gave the company a “positive” rating in a report on Monday, December 8th. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $542.85.

Sandisk Stock Performance

Sandisk stock opened at $527.33 on Friday. 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 capitalization of $77.83 billion and a PE ratio of -69.48. The company has a 50 day moving average price of $502.89 and a 200-day moving average price of $277.38. Sandisk Corporation has a fifty-two week low of $27.89 and a fifty-two week high of $725.00.

Sandisk (NASDAQ:SNDK) last announced its quarterly earnings data 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. The company had revenue of $3.03 billion for the quarter, compared to analysts’ expectations of $2.67 billion. Sandisk had a positive return on equity of 10.11% and a negative net margin of 11.66%.The company’s revenue for the quarter was up 61.2% on a year-over-year basis.

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.