Company Update (NASDAQ:SNDK): SanDisk Corporation Declares Second Quarter 2015 Cash Dividend
SanDisk Corporation (NASDAQ:SNDK), a global leader in flash storage solutions, today announced that the Board of Directors has declared a second quarter 2015 cash dividend of 30 cents per share on the company’s common stock. The dividend will be payable on May 26, 2015 to stockholders of record as of the close of business on May 4, 2015. Future dividends are subject to approval by SanDisk’s Board of Directors. (Original Source)
Shares of SanDisk Corp closed today at $67, down 3.32 or 4.73%. SNDK has a 1-year high of $108.77 and a 1-year low of $63. The stock’s 50-day moving average is $76.62 and its 200-day moving average is $87.11.
On the ratings front, SanDisk has been the subject of a number of recent research reports. In a report issued on April 2, Argus analyst Jim Kelleher reiterated a Buy rating on SNDK, with a price target of $86, which implies an upside of 20.9% from current levels. Separately, on March 31, Stifel Nicolaus’ Kevin Cassidy downgraded the stock to Hold.
According to TipRanks.com, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Jim Kelleher and Kevin Cassidy have a total average return of 17.1% and 35.3% respectively. Kelleher has a success rate of 74.5% and is ranked #290 out of 3574 analysts, while Cassidy has a success rate of 80.8% and is ranked #12.
In total, one research analyst has rated the stock with a Sell rating, 7 research analysts have assigned a Hold rating and 12 research analysts have given a Buy rating to the stock. When considering if perhaps the stock is under or overvalued, the average price target is $71.12 which is 15.5% above where the stock opened today.
SanDisk Corp designs, develops and manufactures data storage solutions using flash memory, proprietary controller and firmware technologies.