Earnings Preview: Sandisk (SNDK)

SanDisk Corporation SNDK is set to report earnings tonight after the bell. Wall Street analysts are looking for earnings of 99 cents per share, up 4 cents per share from last year. Revenue is expected to rise to $1.26 billion for this quarter, up from 15% from a year ago. At last check, shares of Texas Instruments were up 71 cents to $49.15, a gain of 1.44%. The stock is trading at 9 times 2011 earnings, and has a 0.86 price to earnings growth (PEG) ratio. The $40 billion market company is known for its semiconductor chips which are used by different OEM's for their products. If SanDisk reports better than expected earnings, names like Micron MU and and ST Micro STM could see a boost, given these companies compete with SanDisk. SanDisk Corporation designs, develops, manufactures, and markets NAND-based flash storage card products that are used in various consumer electronics products.