Another big acquisition on its way – SanDisk explore sale?

Micron, like SanDisk is a competitor of Samsung Electronics Co., which leads the memory chips market.

SanDisk Corporation (NASDAQ:SNDK) is scheduled to issue a dividend payment of $0.3 per share to stock holders of record on 2015-08-03. The shares closed down 1.75 points or 2.73% at $62.36 with 3,852,430 shares getting traded. SanDisk has a 12-month low of $44.28 and a 12-month high of $106.64.

The California-based company, has a market capitalisation of about $12.6 billion at Tuesday’s closing price. The stock has a 50 day moving average price of $54.51 and a 200-day moving average price of $61.10. The firm earned $1.24 billion during the quarter, compared to the consensus estimate of $1.19 billion. In 2013 Apple had been a fifth of SanDisk revenues. The company shares have dropped -24.70% from its 1 Year high price.

Separately, TheStreet Ratings team rates SANDISK CORP as a Hold with a ratings score of C+. Pacific Crest lifted their price target on SanDisk from $75.00 to $81.00 and gave the company an “overweight” rating in a report on Thursday, July 23rd.

Brokerage firm analysts now have a consensus short term price target of $65.176 that cover the stock. The target price could deviate by a maximum of $10.22 from the forecast price. Three equities research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and sixteen have issued a buy rating to the stock. The stock ended up at $62.85. Yehoshua Nir, SVP, Corp Mktg & GM Retail BU of Sandisk Corp sold 1,125 shares on October 5, 2015. The Insider selling transaction had a total value worth of $67,500. Following the sale, the senior vice president now owns 3,762 shares in the company, valued at approximately $225,720. And of course SanDisk sells flash storage to enterprises.

SanDisk Corporation designs, develops and manufactures data storage solutions in a range of form factors using its flash memory, controller and firmware technologies. Its embedded flash products are used in mobile phones, tablets, ultrabooks, eReaders, global positioning system (GPS), devices, gaming systems, imaging devices and computing platforms. The Business ‘s removable cards are employed in a range of applications, such as mobile phones, tablets, digital cameras, gaming devices, personal computers (PC) and autos.

Western Digital on the other hand has already made several small acquisitions that are related to flash memory in order to overcome the increasing competition in its hard drive business.