SanDisk Corporation (SNDK) Releases Earnings Results, Beats Expectations By $0.28 EPS

SanDisk Corporation (SNDK) reported quarterly earnings results on Wednesday, Apr-27-2016. The company said it had a profit of $0.82 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.28. Analysts had a consensus of $0.54. The company posted revenue of $1365.74 million in the period, compared to analysts expectations of $1214.31 million. The company’s revenue was up 2.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.62 EPS.

Many Wall Street Analysts have commented on SanDisk Corporation. Shares were Downgraded by Susquehanna on Mar 24, 2016 to ” Neutral” and Lowered the Price Target to $ 79 from a previous price target of $86.50 .SanDisk Corporation was Downgraded by Citigroup to ” Neutral” on Mar 14, 2016. Mizuho Downgraded SanDisk Corporation on Mar 2, 2016 to ” Neutral”, Price Target of the shares are set at $78.50.

SanDisk Corporation opened for trading at $74.87 and hit $75.76 on the upside on Friday, eventually ending the session at $75.49, with a gain of 0.81% or 0.61 points. The heightened volatility saw the trading volume jump to 32,14,132 shares. Company has a market cap of $15,318 M.

In a different news, on Nov 30, 2015, Yehoshua Nir (SVP, Corp Mktg & GM Retail BU) sold 3,094 shares at $74.45 per share price. According to the SEC, on Feb 3, 2015, Judy Bruner (Exec. VP, Administration, CFO) sold 6,806 shares at $76.07 per share price. On Jan 27, 2015, D Scott Mercer (director) purchased 3,000 shares at $80.27 per share price, according to the Form-4 filing with the securities and exchange commission.

SanDisk Corporation provides flash storage solutions. The Company designs develops and manufactures data storage solutions in a variety of form factors using flash memory controller firmware and software technologies. The Company’s 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. The SSD products are used in enterprise data centers and client computing platforms. Its embedded flash products are used in mobile phones tablets computing platforms imaging devices and automobiles. The Company’s removable cards are used in a range of applications such as mobile phones tablets digital cameras gaming devices personal computers (PC) and automobiles. It also offers software solutions which are used in conjunction with flash storage products.

SanDisk Corporation

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