Boston, MA 10\/25\/2013 (wallstreetpr) –\u00a0The effects of Tuesday\u2019s stock upgrade of\u00a0SanDisk Corporation (NASDAQ:SNDK) at BMO Capital Markets could be seen through the week to Thursday\u2019s upward trading in which its shares gained 1.72% to close up $69.41.<\/p>\n
In a note to investors, analysts at BMO Capital Markets upgraded SNDK from underperform to marketperform. The agency also raised its price expectation on the stock from $40 in the previous report to $70 in the new report. The agency notes a number of strengths which the company exhibit and which have the potential to put it on the massive profitability path. So this is definitely good news to investors.<\/p>\n
The $16.69 billion market capped data storage solutions provider has now had 32 analysts commenting on its future. One analyst has a sell rating on the stock, eight others have hold rating on it and 22 analysts have issued buy rating on the stock. And at least one analyst has expressed higher degree of optimism with a strong buy rating on the stock. On average, SNDK has a consensus buy rating and a price expectation of $70.50. This indicates about $1.09 upside from its previous closing of $69.41.<\/p>\n
In its most recent earnings results, SNDK posted $1.59 EPS on revenue of $1.63 billion. Analysts were looking for $1.31 EPS. Thus it was able to smash the estimates by a whopping $0.28. On the revenue side, analysts had hoped for $1.57 billion. In the comparable quarter in F2012, SNDK posted $0.48 EPS. And in this latest quarter its revenue was up 27.7% against a year ago.<\/p>\n
SNDK has announced Q3.13 dividend of $0.23 per share and this represents $0.90 annualized dividend and dividend yield of 1.30%. This dividend will be paid November 25 for shareholders of record on Monday, November 4. SNDK\u2019s primary business involves design, development and manufacturing of data storage solutions such as controller, firmware and flash memory technologies.<\/p>\n","protected":false},"excerpt":{"rendered":"
Boston, MA 10\/25\/2013 (wallstreetpr) –\u00a0The effects of Tuesday\u2019s stock upgrade of\u00a0SanDisk Corporation (NASDAQ:SNDK) at BMO Capital Markets could be seen through the week to Thursday\u2019s […]<\/p>\n","protected":false},"author":12,"featured_media":11331,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"rop_custom_images_group":[],"rop_custom_messages_group":[],"rop_publish_now":"initial","rop_publish_now_accounts":{"twitter_2902945987_2902945987":""},"rop_publish_now_history":[],"rop_publish_now_status":"pending","footnotes":""},"categories":[263],"tags":[759,758,3515,761],"stock_ticker":[],"class_list":["post-11326","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-technology","tag-nasdaqsndk","tag-sandisk-corporation","tag-sandisk-corporation-nasdaqsndk","tag-sndk","entry"],"acf":[],"yoast_head":"\n