SanDisk Co. (NASDAQ:SNDK) was downgraded by investment analysts at Credit Agricole from an “outperform” rating to an “underperform” rating in a note issued to investors on Monday, MarketBeat Ratings reports.

SanDisk (NASDAQ:SNDK) traded down 4.4350% during mid-day trading on Monday, hitting $64.4299. 490,391 shares of the stock were exchanged. The company has a market cap of $12.93 billion and a P/E ratio of 31.1406. The company has a 50-day moving average price of $74.16 and a 200-day moving average price of $65.26. SanDisk has a one year low of $44.28 and a one year high of $87.43.

SNDK has been the topic of several other research reports. B. Riley reiterated a “buy” rating and issued a $75.00 price target on shares of SanDisk in a research note on Friday, October 2nd. Morgan Stanley lowered SanDisk from an “overweight” rating to an “equal weight” rating and lifted their price target for the company from $75.00 to $86.50 in a research note on Thursday, October 22nd. CLSA lowered SanDisk from an “outperform” rating to an “underperform” rating and decreased their price target for the company from $86.00 to $70.00 in a research note on Monday. Summit Research reiterated a “buy” rating and issued a $85.00 price target on shares of SanDisk in a research note on Wednesday, October 14th. Finally, Zacks Investment Research upgraded SanDisk from a “sell” rating to a “hold” rating in a research note on Tuesday, October 27th. Four equities research analysts have rated the stock with a sell rating, twenty-four have given a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $72.97.

Several hedge funds and institutional investors have recently added to or reduced their stakes in the company. ING Groep boosted its position in SanDisk by 285.2% in the third quarter. ING Groep now owns 2,068,658 shares of the data storage provider’s stock valued at $112,390,000 after buying an additional 1,531,618 shares during the last quarter. Meag Munich Ergo Kapitalanlagegesellschaft purchased a new position in SanDisk during the third quarter valued at $5,911,000. Amarillo National Bank purchased a new position in SanDisk during the fourth quarter valued at $258,000. Creative Planning boosted its position in SanDisk by 38.8% in the fourth quarter. Creative Planning now owns 28,533 shares of the data storage provider’s stock valued at $2,168,000 after buying an additional 7,977 shares during the last quarter. Finally, Quantitative Systematic Strategies purchased a new position in SanDisk during the fourth quarter valued at $307,000.

In other news, SVP Yehoshua Nir sold 3,094 shares of the company’s stock in a transaction on Wednesday, November 25th. The shares were sold at an average price of $74.45, for a total value of $230,348.30. Following the transaction, the senior vice president now owns 3,762 shares of the company’s stock, valued at $280,080.90. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.

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 (NASDAQ:SNDK), 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.

12 Month Chart for NASDAQ:SNDK

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