SanDisk Corp (SNDK): Today's Featured Electronics Loser
SanDisk (SNDK) pushed the Electronics industry lower today making it today's featured Electronics loser. The industry as a whole closed the day down 1.5%. By the end of trading, SanDisk fell $1.55 (-3%) to $49.52 on average volume. Throughout the day, eight million shares of SanDisk exchanged hands as compared to its average daily volume of 8.6 million shares. The stock ranged in price between $48.10-$51 after having opened the day at $50.92 as compared to the previous trading day's close of $51.07. Other company's within the Electronics industry that declined today were: Spire Corporation (SPIR), down 18.8%, Daqo New Energy (DQ), down 16.4%, BTU International Inc (BTUI), down 14.1%, and Kemet Corporation (KEM), down 13%. SanDisk Corporation designs, develops, manufactures, and markets NAND-based flash data storage card products that are used in various consumer electronics products. SanDisk has a market cap of $12.33 billion and is part of the technology sector. The company has a P/E ratio of 10.4, equal to the average electronics industry P/E ratio and below the S&P 500 P/E ratio of 17.7. Shares are up 2.4% year to date as of the close of trading on Wednesday. TheStreet Ratings rates SanDisk as a buy. The company's strengths can be seen in multiple areas, such as its revenue growth, largely solid financial position with reasonable debt levels by most measures, attractive valuation levels, solid stock price performance and expanding profit margins. We feel these strengths outweigh the fact that the company has had sub par growth in net income.
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