SNDK is easily at the top of the SOXM list today, presently up over 2 percent. Merger rumors are probably the reason. Here is one article on the situation.
4 COMPANIES THAT COULD BUY SANDISK
In a report published Friday, CLSA analyst Mark Heller said that there has been a great deal of speculation around SanDisk Corporation (NASDAQ: SNDK) being an acquisition target.
"Despite recent execution issues, we continue to think that the company has excellent technology," Heller said. While nothing appears to be pending, the potential acquirers could include Micron Technology, Inc. (NASDAQ: MU), SK Hynix, Seagate Technology PLC (NASDAQ: STX) and Western Digital Corp (NASDAQ: WDC).
"For an HDD acquirer, the accretion may not be inspiring but multiple expansion would likely occur as a result of an improved growth profile.
Among Micron and Hynix, a Hynix deal appears more accretive, but it's unclear if Hynix is willing to do a large M&A deal and raise debt," Heller added. |
