3. As of noon trading, SanDisk ( SNDK) is down $3.05 (-5.5%) to $52.67 on heavy volume Thus far, 9.6 million shares of SanDisk exchanged hands as compared to its average daily volume of 3.8 million shares. The stock has ranged in price between $52.44-$57.33 after having opened the day at $56.61 as compared to the previous trading day's close of $55.72.

Sandisk Corporation designs, develops, manufactures, and markets flash storage card products that are used in various consumer electronics products. SanDisk has a market cap of $13.9 billion and is part of the computer hardware industry. The company has a P/E ratio of 33.8, above the S&P 500 P/E ratio of 17.7. Shares are up 32.2% 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 largely solid financial position with reasonable debt levels by most measures, good cash flow from operations, expanding profit margins and solid stock price performance. We feel these strengths outweigh the fact that the company has had sub par growth in net income. Get the full SanDisk Ratings Report now.

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