Sandisk (NASDAQ:SNDK) Trading Up 7.4% – Here’s What Happened

Sandisk Corporation (NASDAQ:SNDK)’s stock price traded up 7.4% during trading on Friday . The company traded as high as $228.99 and last traded at $228.99. 6,717,266 shares were traded during mid-day trading, an increase of 17% from the average session volume of 5,728,988 shares. The stock had previously closed at $213.31.

Analysts Set New Price Targets

Several equities analysts have weighed in on SNDK shares. China Renaissance initiated coverage on Sandisk in a report on Friday. They set a “buy” rating and a $322.00 price objective for the company. Benchmark increased their price target on Sandisk from $125.00 to $260.00 and gave the stock a “buy” rating in a research note on Friday, November 7th. Bank of America upped their price target on shares of Sandisk from $270.00 to $300.00 and gave the company a “buy” rating in a research note on Thursday, November 20th. Cantor Fitzgerald upped their target price on shares of Sandisk from $240.00 to $300.00 and gave the stock an “overweight” rating in a report on Friday, November 7th. Finally, Citigroup upped their price objective on Sandisk from $150.00 to $280.00 and gave the stock a “buy” rating in a report on Friday, November 7th. Three analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Sandisk presently has a consensus rating of “Moderate Buy” and a consensus price target of $201.00.

Sandisk Price Performance

The stock has a market cap of $33.48 billion and a PE ratio of 713.88. The firm has a 50-day moving average of $184.03 and a 200-day moving average of $96.91. The company has a debt-to-equity ratio of 0.14, a current ratio of 3.29 and a quick ratio of 2.03.

Sandisk (NASDAQ:SNDK) last issued its quarterly earnings results on Thursday, November 6th. The data storage provider reported $1.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.58 by $0.64. The company had revenue of $2.31 billion during the quarter, compared to the consensus estimate of $2.12 billion. The business’s revenue was up 22.6% compared to the same quarter last year. Sandisk has set its Q2 2026 guidance at 3.000-3.40 EPS.

Insider Activity

In related news, Director Necip Sayiner sold 1,271 shares of the business’s stock in a transaction on Wednesday, December 3rd. The stock was sold at an average price of $195.14, for a total transaction of $248,022.94. Following the transaction, the director directly owned 3,479 shares in the company, valued at $678,892.06. The trade was a 26.76% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 0.21% of the company’s stock.

Hedge Funds Weigh In On Sandisk

Institutional investors have recently made changes to their positions in the company. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in Sandisk in the 3rd quarter worth $27,000. CVA Family Office LLC purchased a new stake in Sandisk in the 3rd quarter valued at about $28,000. Parallel Advisors LLC purchased a new position in Sandisk during the 3rd quarter valued at about $30,000. Northwestern Mutual Wealth Management Co. purchased a new stake in Sandisk during the 3rd quarter worth about $32,000. Finally, Covestor Ltd acquired a new stake in Sandisk in the third quarter valued at $37,000.

Sandisk Company Profile

SanDisk Corporation offers flash storage solutions. The Company designs, develops and manufactures data storage solutions in a range of form factors using flash memory, controller, firmware and software technologies. The Company operates through flash memory storage products segment. Its solutions include a range of solid state drives (SSD), embedded products, removable cards, universal serial bus (USB), drives, wireless media drives, digital media players, and wafers and components.