NASDAQ:SNDK
$20.48
(10/30 4:00PM)
-6.6%
| Open | $21.85 |
Mkt Cap | $5.0 Billion |
| High | $22.44 |
52Wk High | $24.61 |
| Low | $20.41 |
52Wk Low | $5.07 |
| Volume | 10.3 Million |
Avg Vol 10D | 14.6 Million |
Ockham’s Rating/Recommendation Summary
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SNDK Revenue
Cash earnings is the most important factor in our analysis, but it goes without saying that if a company cannot produce sales then there is no ability to generate cash flow. By that logic we look very closely at revenue numbers as our second most important factor in valuing a company’s stock. We have established reasonable Price to Sales per share ranges based on historical data of the last 10 years. For, SNDK the high and low end of the Price to Sales per share ratios are 4.46x and 1.56x respectively.
Notice that SNDK’s current Price to Sales per share ratio is 1.57x, which is quite a bit below what we consider a normal Price to Sales ratio for this stock. Given normal conditions and a price of $22.12, SNDK is 48% below where we would expect to see it. This will beneficially factor into our final analysis of SNDK as it is not often that this stock sinks to these levels.
SNDK Cash Earnings
SNDK is not forecasted to produce positive Cash Earnings this year, based on recent performance. This is not a positive situation, as we would always prefer that a company is producing cash every year. However, it is important to recognize that not all companies or types of companies have the goal of producing positive Cash Earnings either early in their business cycle or following significant turnaround changes. When looking at SNDK, we hesitate to be overly negative on the company, but it is of concern that the company is not profitable at this time.
Let’s face it, companies cannot remain unprofitable for very long before a change has to be made. This could mean further restructuring or corporate event such as selling assets or spinning off divisions, at any rate a company with negative cash flows is not one that often makes a great investment unless you can acquire it at an extremely depressed price.
SNDK Dividends
While it is not necessary to pay an attractive dividend or a dividend at all, to receive a positive rating from Ockham, we view dividends as an additionally helpful measure in determining the future potential of any company. As of the time of this report, our data provider does not have historical data for SNDK. Therefore, we are not utilizing the dividends portion in our study. So, we do not know whether SNDK currently pays a dividend at present or not, we have an "expected dividend" payment listed in key fundamentals but cannot varify it.
“…Goldman Sachs analyst chip analyst James Covello late yesterday cut his rating on flash memory card seller SANDISK (SNDK) to Neutral from Buy, citing the stock’s “full valuation,” while also lifting Texas Instruments (TXN) to Buy from Neutral. With SNDK is now near his $24 price target, Covello writes that there is now greater opportunity in TXN, “driven by margin expansion in 2010, secular growth driven by analog share gains and attractive valuation at 13x normalized EPS.” Covello writes in a research note that he still thinks NAND fundamentals wil continue to improve, with capacity tightness driving stable ASPs and margins. But he also says that the the real value in SNDK’s business is the royalty stream, since the product business does not generate positive earnings over the course of cycle. He thinks the current stock price is about in line with the fair value of the royalty stream, leaving little incremental upside. As for TXN, Covello asserts that the …” – SNDK on Tech Trader Daily-Barron’s
“…Oh, sure, there are others who say they see stability at levels equivalent to where they were. And let’s get those on the that’s intel, microsoft, today marvel tech, and SANDISK. They’re all seeing that. And their stock’s hanging in or go higher. Outside of tech, though, the vast majority of companies are still seeing the albeit phrase, and others don’t even see that. The oils and natural gas companies are not stabilizing, other than jpmorgan, pnc, goldman sachs, and comericaa, …” – SNDK on Mad Money
“…Positive visibility coming out of the semi-conductor space. That stock is higher. The semi-conductor index itself is up 0.2%. SANDISK is one of the outperformers up 8.5%. Dick bove downgraded fifth third. That’s the story here at the >> we talk about the turnaround in the market that. Means stocks are down for the fourth time in five days. The significance of that is …” – SNDK on Street Signs
“…Lifted its earnings outlook. Amazon.Com, this is up 30% in the last two trading days continuing to get a boost. SANDISK another gainer up 6.5%. Analyst calls that are putting familiar names in focus. Microsoft rate to a buyover and price target rate. T. Rowe price. Not showing any positives. So we’re seeing some green. …” – SNDK on Fox Business
“…from the partner.Kellogg board approves new $650M share buyback.Netflix to deliver movies over the Internet to Sony’s PlayStation 3 game consoles.SANDISK loses Trade Commission ruling over memory chip patents.Sony says US unit being probed by US authorities in relation to antitrust issuesVerizon’s Sept. profit declines from $1.7B last year to $1.2B this year.Economic Calendar: Data on Existing Home Sales to be released today.Earnings …” – SNDK on Zero Hedge
“…On higher margins. River knew was hurt by the foreign currency exchange but it did top forecast and boosted the guidance. Still having the parties out there. Number four, SANDISK, the stock is up all day. Hit a 52-week high earlier and swung to third quarter profit on strong sales and margins. Like to hear strong sales. The flash memory maker saying that improving industry fundamentals could mean more growth to them going forward. [brief pause in captioning] …” – SNDK on Countdown to the Closing Bell
“…Up 17 cents. Earnings a big sector. Ebay expected to post the first revenue quarter for a year. SANDISK a darling of tech sector today, smashing through the estimates. Cree, c.H. Robinson worldwide and amgen coming out after the close today. >> liz: thank you, shibani. There are investors who have a lot of cash on the sidelines right now. Collective trillions and …” – SNDK on Countdown to the Closing Bell
“…Google getting into the music stock up .75%. Jim goldman will break all of trust me, he is, he’s here, I know that. SANDISK had great numbers as it’s up 13%. They beat — I mean, absolutely annihilated estimates. 75 cents versus 26 cents. Revenues well way ahead. Oracle, there is news on — hi, jim — oracle and the eu saying oracle has not eased concerns …” – SNDK on Closing Bell
“…What you want to hear next is that the top line demand is coming not from price cuts or discounting but from actually prizing pricing power. SANDISK said that and that’s one of the reasons I was so excited because pricing power is when you really get the big margins. >> let’s talk about the group we have to stay away from because we’re concerned the only way they can make money in this environment is through cost cutting initiatives. Do the retailers fall into that >> some do. …” – SNDK on Fox Business
“…Obviously apple computer earnings really set the stage. But apple, a lot of people wondering is that sort of a singular story. Last night SANDISK reported numbers that absolutely phenomenal. When I say phenomenal, alexis, they crushed on the top line. $935 million. The street was looking for $787 million. 75 cents on the bottom line versus 26 cents. This is flash memory. Memory sticks, stuff you have in …” – SNDK on Fox Business
“…Supporting the markets and many names and many are hitting 52-week highs worth noting. You can see all up arrows for the tech stocks. SANDISK soaring 9% to the upside and hewlett-packard, google, apple, just about the m and a’s and check out what the stocks are doing exactly, stock by stock and look at a full chart of the up arrows and then I like to get in there and really see what is hitting 52-week highs apple among a few that are actually hitting the 52-week highs there. Last but not least, want to take …” – SNDK on Fox Business
“…Research in motion was negative. Turned positive. Ebay reports after the bell today, sizable gain of 2 1/2% ahead of that. And there’s a chip story. Don’t forget about SANDISK may get lost in the shuffle. But it, too, had blowout stock is up 10% right now. And that’s helping the overall market and certainly the chip space as the index is up better >> thanks so much, scott wapner. Let’s head down to brian >> interesting, we’re down 26 cents. You would think with weak dollar …” – SNDK on Squawk On The Street
“…The nasdaq composite up, more than3/4 of a percent. And there is more strength in technology certainly leading the way here, of course we heard from yahoo! That was some good SANDISK, both the names with their quarterly numbers, and SANDISK makes the flash memory cards for digital cameras. That stock today hit ago new 52-week high. Yahoo! New 52-week high, so certainly you’re seeing the strength in the dow jones industrial average, some strength there coming from intel, microsoft, windows 7, cisco systems, these are some of the names powering the dow to the upside. …” – SNDK on Fox Business
“…Research in motion, they, by the way, microsoft reports earnings on friday. Research in motion is negative. Ebay getting a nice bump up in early trading. SANDISK is the other earning story of note here today. They blew away their estimates. Estimate was 26 cents a share. Posted 75 cents. Revenues just blew away the number as well. So SANDISK is up 6 1/2%. That’s helping in the overall chip space, specifically memory philadelphia semiconductor index is up 0.2%. The nasdaq is positive when otherwise the broader markets let’s go down to brian shactman at the nymex. >> i’m keeping my eye on natural …” – SNDK on Squawk On The Street
“…Seeing, obviously, there’s been concerns about boeing, their third quarter loss and the charges, worried about the dreamliner by the end of the year. SANDISK, a nice run up 51/2% they have their flash memory cards, now, they beat estimates with that making a flash memory card for cameras and eli lilly swing to go a profit and sallie mae, they are the student loan and you can see, 16% gain there. 26 cents exitems and that’s more than five times the average analyst estimates. Of course, we’re waiting for …” – SNDK on The Opening Bell on Fox Business
“…Microsoft rolls out windows 7 reports its earnings on friday. Rim is down. Ebay reports after the bell today. And SANDISK just knocked the cover all the ball. Stock is up 4 1/2%. Crushed estimate 75 cents. Street was looking for 26. Revenues ahead. Strong demand for flash memory chip. Focus today will be on not only large cap techs but the chip space in general. I’ll update you at the bottom of the hour when we open for trading. …” – SNDK on Squawk On The Street
“…impact of Apple, which is roughly 15% of the measure. MF Global analysts will be keeping a close eye on the NDX today, after technology firms like SANDISK, semiconductor company Cree, Seagate Technologies and Yahoo all reported better than expected results late yesterday. “The market shows some sign of getting tired, and has good reason to rally given technology released after yesterday?s close,” MF Global analysts …” – SNDK on WSJ Marketbeat
“…(-44%) vs. $820M. Shares flat AH. (PR) Polycom (PLCM): Q3 EPS of $0.31 misses by $0.01. Revenue of $243M (-16%) vs. $236M. Shares -5.2% AH. (PR) SANDISK (SNDK): Q3 EPS of $0.75 beats by $0.49. Revenue of $935M (+14%) vs. $788M. Shares +0.2% AH and halted. Updated 4:30 p.m.: Shares resume trading, +10.2% AH. (PR) Seagate Technology (STX): FQ1 EPS of $0.58 beats by $0.11. Revenue of $2.66B (-12%) vs. $2.62B. Shares -2.9% AH. (PR) SLM Corp. (SLM): Q3 …” – SNDK on Seeking Alpha Wall St Breakfast
“…>>> SANDISK hitting our screen right here, blowout quarter for SANDISK, 79 cents on the eps side, about triple what analysts were expecting. $935 million in revenues. And that was actual year over year increase. A year-over-year increase. So we are seeing that move higher. We’re also watching cree, which guy watches a lot. >> excellent call. >> moving higher also after topping analysts’ estimates. What do you make of the …” – SNDK on Fast Money
“…SANDISK (SNDK) posted dramatically better than expected results for the third quarter. The flash memory card company posted revenue of $935 million, up 14% year over year and 28% sequentially, and well ahead of the Street at $787.9 million. Non-GAAP profits were 75 cents a share, nearly triple the Street consensus of 26 cents. The company said the strong results reflect “major gains” in OEM business, with strong orders continuing into Q4. SANDISK noted that product gross margins were sharply higher, driven by favorable pricing and strong product cost reductions. Total units sold were up 31% year-over-year, and 45% sequentially. Gigabytes sold increased 107% year-over-year, and 37% sequentially. Average price per gigabyte sold was down 43% year over year, but just 3% sequentially. In late trading, SNDK is up $2.32, or 10.8%, to …” – SNDK on Tech Trader Daily-Barron’s
“…Ny too yahoo not the only company to tonight. Matt nesto is at earnings central right now with a look at some of the other key movers >> all right, thanks, maria. Take a look at SANDISK shares, the company up just about 10% in the after-hours at levels we haven’t seen since june of 2008. Closing in on $24 per share. They came in with 75 cents, a $935 million in revenue. See you later, estimates, and SANDISK is off to the races. Check out gilead. Up 36% from a year ago. Well ahead of expectations at 78 cents versus a 67 estimate. The revenues grew 31% from a year ago. Product sales strong, royalties stock down. Only thing I can see, that they didn’t do was raise their …” – SNDK on Closing Bell
“…>> congratulations on all your success and in teaching people so much about financial we appreciate your time. >> roger ferguson here at the up next, yahoo and SANDISK not the only names reporting earnings after the bell. The results along with matt nesto. …” – SNDK on Closing Bell
“…Acquisition by oracle as that company begins to integrate sun’s operations into oracle. >> I want to look at the chart of SANDISK. It was halted. It has resumed trading. We have a big jump. We just heard from the coo talking about the demand he is seeing for flash memory which is what the company makes. Third quarter earnings 75 cents a share. That stock is trading higher in sizable volume tonight. …” – SNDK on Closing Bell
“…$788 million in revenue estimate that is 14% higher from a year it is their highest revenue quarter at SANDISK since the third quarter of 2007 when they did a billion. Strong orders co-ing into the fourth quarter. Margins improving dramatically. Favorable pricing. Units sold up 31%. SANDISK, stocks halted, should >> we will hear from one of the the co-founder and coo of SANDISK, good to have you on the >> thank you, maria. >> thanks for joining us. What drove the quarter? What is the most important leadership event for business in the last three months? >> the growth engine is the mobile phone market. More phones are using increasing …” – SNDK on Closing Bell
“…Go to our website and check out the cnbc app for the iphone. >>> the memory chip market has been hit hard. SANDISK just reported earnings. The companies co-founder and coo will be with me shortly. And an exclusive interview with tiaa-cref ceo roger ferguson. The former vice chair of the fed joins me coming up. At northern trust, …” – SNDK on Closing Bell
“…>> then exclusive interview with the co-founder and coo from SANDISK. And a special interview with roger ferguson. …” – SNDK on Closing Bell
“…It judgment week for technology. We’re going to get a look at how i.T. Spending an konconsumer spending is shaping up. SANDISK reports after the bell things are looking good into chip spaces’s well. SANDISK is up as well. The parents of unite the uaua up 6% on the back of its own quality earnings report. Let’s go to sharon’ nymex. >> opec’s secretary 1ye7b8 is try ing to the moment, saying he doesn’t believe they’ll get there in the …” – SNDK on Squawk On The Street
“…Reporting this week. This is judgment week for those stocks are also higher after the bell. SANDISK having a good one so it’s up 2% here then. United. Parent of united airlines had better than expected earnings that is up 6% as well. I know you told me who to toss it to. >> i’ll take it, scott. Oil prices topped $80 a barrel …” – SNDK on Squawk On The Street
“…LMT, MTB, PCP, PH, PFE, RF, SHW, STT, SVU, UAUA, UNH, UTX, WU Notable post-market earnings: AMLN, CHRW, CNI, CREE, GILD, INFN, ISRG, NBR, PLCM, SNDK, SLM, STX, STM, SYK, TUP, WLT, YHOO Get Wall Street Breakfast by email — it’s free and takes only seconds to sign up. After you finish reading Wall Street BreakfastSeeking Alpha’s Market Currentswill keep you current all day long. Complete Story …” – SNDK on Seeking Alpha Wall St Breakfast
“…(INTC) is down 48 cents, or 2.3%, to $20.19. Nvidia (NVDA) is down 32 cents, or 2.4%, to $13.21. Micron (MU) is down 74 cents, or 8.6%, to $7.91. SANDISK (SNDK) is down 96 cents, or 4.4%, to $21.04. Smart Modular (SMOD) is down 43.5 cents, or 9.8%, to $3.995. STEC (STEC) is down 68 cents, or 2.7%, to $24.50. Seagate (STX) is down 34 cents, or 2.2%, to $15.20. Western Digital (WDC) is down 58 cents, or 1.6%, to …” – SNDK on Tech Trader Daily-Barron’s
“…Week is the week. The companies among widely held mostly large cap technology stocks that are going to be reporting earnings. Monday, apple. That’s big. You’ve got tuesday, SANDISK, which sells chips and a lot of gadgets. Yahoo! Tuesday. Wednesday, ebay. Thursday, amazon. Friday, microsoft. Judgment week perhaps for technology. We’ll follow it all here on cnbc, you know that. Finally, let’s talk about an ipo, cric, a lot of the ipos of …” – SNDK on Closing Bell
“…SANDISK (SNDK) shares are down sharply today ahead of the company’s Q3 earnings report on Tuesday. The Street is looking for revenue of $786.7 million and EPS of 25 cents a share; the company’s forecast was for $725 million to $775 million. SANDISK has been the subject of some conflicting sentiment of late. Earlier this week, UBS analyst Uche Orji cut his rating on the stock to Sell from Neutral; several weeks earlier, Merrill Lynch analyst Simon Dong-je Woo raised his rating to Buy from Underperform. This morning, Needham analyst Y. …” – SNDK on Tech Trader Daily-Barron’s
“…a stronger yen against the dollar and a reversal in pricing trends. Mok contends the stock already discounts earnings upside for the quarter. SNDK today is down $1, or 4.6%, to …” – SNDK on Tech Trader Daily-Barron’s
“…$650. Semiconductors are weak despite intel is weak. But the weakness is spread across the board. Scan disk is another one, SNDK, you will see it is off 4% or so. Let me end on a high note here. It is cric, china real estate information corporation, an ipo today, the shares are up 14%. They opened at $12. Nice introduction for this ipo. There’s been eight alone this only one priced above the range. This actually priced at the low …” – SNDK on The Call
“…And com scope and broadcom, net logic, exile inks, r micro. Cyprus semi, tessera tech, SANDISK. Mobile internet index. They think these stocks are disparate, they have nothing to do with each other. They’re not connecting the dots. What I see is a tsunami that’s carrying all of these stocks higher with the mobile internet index up 11.5% since I created it just august 11th. S&p up much less, 8% same here’s the bottom line. …” – SNDK on Mad Money
“…SANDISK (SNDK) shares are trading modestly lower today after UBS analyst Uche Orji today cut his rating on the stock to Sell fron Neutral, while maintaining his $18 price target. The stock closed Friday at $21.44. Orji notes that NAND flash memory chip spot market pricing jumped 24% in Q3, while contract …” – SNDK on Tech Trader Daily-Barron’s
“…limit further price increases, “a key catalyst for the shares.” Gross margin downside risk from new, lower Samsung royalty rates taking effect. SNDK today is down 27 cents, or 1.3%, to …” – SNDK on Tech Trader Daily-Barron’s
“…That’s why you saw real strength in the chip stocks. Bob was talking about the strength we had over the last he showed you the actual bigger movers today. Intel is higher, the semi conductor index is up 1 1/2% on SANDISK is higher. It’s the chips leading the move to the upside. Research in motion did get upgraded stock up 2%. Baidu has a price target from 385. Stock is up 2%. Touch on apple and google because both I mentioned hit new 52-week highs. And again, they extended that today. Let’s go to sharon at the nymex. >> stock is higher, oil is oil prices above $72 a barrel it is the weakness in the dollar over the past 14 months that has sent oil prices up over 60% so far this year. What does that peen for people heating their homes with height heating oil this wenter? We’ve seen heating oil futures up 20% so far this year. Even though the energy department says you’ll be paying 3% less this winter than last, oliver jacob says the paradox is that we probably will see higher prices this winter for heating …” – SNDK on Squawk On The Street
“…What’s the manager like in find that out coming up. >>> and some s&p stocks on the move right now and you can see nice moves going on, united health, SANDISK, wellpoint, and banco. …” – SNDK on Squawk On The Street
“…Than on the downstream. Tradertalk.Cnbc.Com. Scott, how are we at the nasdaq? >> we’ve opened modestly lower, down five points or so. I’m watching the chips today because deutsche bank has taken up ’09 forecast for the semiconductor industry. They like intel and SANDISK. Move downward in intel just a SANDISK is getting a boost here. Semiconductor index itself is showing a fractional move to the watch shares, down 2 1/2%. Pricing pressures and valuation. Research in motion got an up 1 1/2%. Up graded from out perform at target is 84 bucs. Baidu’s price target was down netapp is up 1 1/2%. Upgraded at fink equity. Vertex out of gates at a plus initiated out perform at rbc. Let’s go to share epperson at the nymex. >> the dollar rebound continues weakness across the board in the commodities sector. In london, trading, oil as well as here at the new york mercantile exchange. Take a look at what is happening across the board, heating oil and valero said it is not ruling out any strategic alternative including down some of this refineries here to deal with the …” – SNDK on Squawk On The Street