Mizuho Securities Managing Director Vijay Rakesh lowered his price target on SanDisk shares to $1,875 from $1,900 in an Aug. 25 client note, trimming the target by $25. The change came as the semiconductor sector entered a cyclical phase, with other chip-related names including Micron, Seagate and Hynix trading largely flat this week. Despite the lower target, the report said SanDisk could still offer upside for investors. Based on a current share price of about $1,500, a move to the revised target would imply a return of roughly 25%. SanDisk shares have traded in a range during August and were down nearly 4.3% this week as the market absorbed volatility in memory pricing.
According to Techub News, Mizuho Securities Managing Director Vijay Rakesh cut his price target on SanDisk shares to $1,875 from $1,900 in a client report dated Aug. 25, lowering the target by $25.
The revision came as the semiconductor market moved into a cyclical phase. This week, other semiconductor stocks including Micron, Seagate and Hynix also traded sideways.
The report said SanDisk stock could still deliver gains for investors despite the lower target. If the shares reach $1,875, the return would still be about 25% based on a current price of roughly $1,500.
SanDisk shares have traded within a range through August and were down nearly 4.3% this week, with the market facing the impact of swings in memory prices.
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