Barclays Maintains a Hold Rating on SanDisk

By George MacDonald

In a report issued on January 29, Blayne Curtis from Barclays maintained a Hold rating on SanDisk (NASDAQ: SNDK), with a price target of $74. The company’s shares closed last Friday at $70.70.

Currently, the analyst consensus on SanDisk is Moderate Buy and the average price target is $80.60, representing a 14.0% upside. In a report issued on January 28, B. Riley also maintained a Hold rating on the stock with a $78 price target.

Based on SanDisk`s latest earnings report from September 30, the company posted quarterly revenue of $1.45B and quarterly net profit of $133M. In comparison, last year the company earned revenue of $1.74B and had a net profit of $201.9M.

Like Barclays` latest rating, based on the recent corporate insider activity of 35 insiders, corporate insider sentiment is neutral on the stock. Most recently, in March 2015, Yehoshua Nir, a the SVP, Corp Mktg & GM Retail BU of SNDK sold 5,239 shares for a total of $420,613.

According to TipRanks.com, Curtis is a 4-star analyst with an average return of 7.2% and a 57.6% success rate. Curtis covers the Technology sector, focusing on stocks such as Integrated Device Tech, Triquint Semiconductor, and Silicon Laboratories.

SanDisk Corp designs, develops and manufactures data storage solutions using flash memory, proprietary controller and firmware technologies.