SanDisk Stock Gaps Up On Today's Open (SNDK)

NEW YORK ( TheStreet) -- Shares of SanDisk (Nasdaq: SNDK) were gapping up Friday morning with an open price 11.7% higher than Thursday's closing price. The stock closed at $35.08 Thursday and opened today's trading at $39.19.

The average volume for SanDisk has been 5.7 million shares per day over the past 30 days. SanDisk has a market cap of $8.35 billion and is part of the technology sector and computer hardware industry. Shares are down 30.4% year to date as of the close of trading on Thursday.

Sandisk Corporation designs, develops, and manufactures NAND flash memory storage solutions that are used in various consumer electronics products. The company has a P/E ratio of 9.6, equal to the average computer hardware industry P/E ratio and below the S&P 500 P/E ratio of 17.7.

TheStreet Ratings rates SanDisk as a hold. The company's strengths can be seen in multiple areas, such as its largely solid financial position with reasonable debt levels by most measures, reasonable valuation levels and expanding profit margins. However, as a counter to these strengths, we also find weaknesses including feeble growth in the company's earnings per share, deteriorating net income and disappointing return on equity. You can view the full SanDisk Ratings Report.

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