Victory Capital Management Inc. Invests $120.36 Million in Sandisk Corporation $SNDK

Victory Capital Management Inc. purchased a new position in shares of Sandisk Corporation (NASDAQ:SNDK) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 1,072,754 shares of the data storage provider’s stock, valued at approximately $120,363,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Mitsubishi UFJ Asset Management Co. Ltd. bought a new position in shares of Sandisk in the 3rd quarter valued at about $27,000. CVA Family Office LLC bought a new position in Sandisk in the 3rd quarter valued at about $28,000. Covestor Ltd bought a new position in shares of Sandisk during the third quarter worth approximately $37,000. Cromwell Holdings LLC acquired a new stake in shares of Sandisk during the third quarter worth $39,000. Finally, True Wealth Design LLC acquired a new position in shares of Sandisk during the 3rd quarter worth approximately $40,000.

Analyst Upgrades and Downgrades

SNDK has been the subject of several research analyst reports. Sanford C. Bernstein boosted their price objective on shares of Sandisk from $300.00 to $580.00 and gave the company an “outperform” rating in a research report on Wednesday, January 14th. Zacks Research upgraded shares of Sandisk from a “hold” rating to a “strong-buy” rating in a research report on Friday, February 20th. Citigroup raised their price objective on Sandisk from $490.00 to $750.00 and gave the stock a “buy” rating in a research report on Monday, February 2nd. Susquehanna boosted their target price on shares of Sandisk from $250.00 to $300.00 and gave the company a “positive” rating in a report on Monday, December 8th. Finally, Royal Bank Of Canada restated a “sector perform” rating and set a $650.00 price target on shares of Sandisk in a report on Friday, January 30th. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $542.85.

Sandisk Trading Up 6.0%

Shares of SNDK opened at $599.06 on Thursday. The firm has a 50 day moving average price of $491.04 and a 200-day moving average price of $271.99. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.92 and a current ratio of 3.11. Sandisk Corporation has a fifty-two week low of $27.89 and a fifty-two week high of $725.00. The firm has a market cap of $88.42 billion and a price-to-earnings ratio of -78.93.

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

Insider Buying and Selling at Sandisk

In other Sandisk news, Director Miyuki Suzuki sold 3,500 shares of Sandisk 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 completion of the transaction, the director owned 9,907 shares in the company, valued at approximately $6,216,939.71. The trade was a 26.11% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.21% of the stock is owned by corporate insiders.

Sandisk 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.