SanDisk: Hambrecht Sees a Big Beat This Thursday

Daniel Amir, an analyst at W.R. Hambrecht, says that the third quarter earnings report from SanDisk (SNDK) this Thursday will likely be way above the Street consensus.

He raised his revenue estimate for the quarter to $752 million from $721 million, while increasing per share profits to 62 cents a share from 55 cents, reflecting higher-than-expected bit growth and much higher than forecast gross margins due to above-plan yields at the company’s Fab 3 chip plant.

The Street is looking for $735 million and 56 cents for the quarter.

The analyst says the company is seeing “strength in the mobile handset and MP3 player markets.”

Amir boosted his 2006 profit forecast to $2.51 a share, from $2.33; for 2007 he went to $2.80 a share, from $2.65.

SanDisk shares today are up $2.41 to $61.57.