Sandisk (NASDAQ:SNDK) Shares Up 6.9% – Here’s What Happened

Sandisk Corporation (NASDAQ:SNDK) shares rose 6.9% during trading on Thursday . The stock traded as high as $231.00 and last traded at $221.00. Approximately 2,748,890 shares changed hands during trading, a decline of 53% from the average daily volume of 5,792,561 shares. The stock had previously closed at $206.83.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the company. Barclays increased their price target on Sandisk from $39.00 to $220.00 and gave the stock an “equal weight” rating in a research report on Monday, November 10th. Sanford C. Bernstein raised shares of Sandisk to a “strong-buy” rating in a research note on Tuesday, September 16th. Morgan Stanley raised their target price on shares of Sandisk from $263.00 to $273.00 and gave the company an “overweight” rating in a research report on Monday, November 24th. Cantor Fitzgerald boosted their price target on shares of Sandisk from $240.00 to $300.00 and gave the company an “overweight” rating in a report on Friday, November 7th. Finally, Wall Street Zen raised shares of Sandisk from a “hold” rating to a “strong-buy” rating in a research report on Saturday, November 15th. Three equities research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $213.33.

Sandisk Stock Up 8.3%

The firm has a market capitalization of $34.82 billion and a price-to-earnings ratio of 742.53. The company has a quick ratio of 2.03, a current ratio of 3.29 and a debt-to-equity ratio of 0.14. The company’s 50 day moving average price is $206.63 and its 200 day moving average price is $110.84.

Sandisk (NASDAQ:SNDK) last released its earnings results on Thursday, November 6th. The data storage provider reported $1.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.58 by $0.64. The firm had revenue of $2.31 billion during the quarter, compared to analyst estimates of $2.12 billion. Sandisk’s revenue for the quarter was up 22.6% on a year-over-year basis. 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 Sandisk stock in a transaction dated Wednesday, December 3rd. The stock was sold at an average price of $195.14, for a total transaction of $248,022.94. Following the completion of the sale, the director owned 3,479 shares of the company’s stock, valued at $678,892.06. The trade was a 26.76% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.21% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Sandisk

A number of institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. acquired a new stake in Sandisk during the 3rd quarter valued at approximately $1,970,388,000. State Street Corp acquired a new position in Sandisk during the third quarter valued at $491,053,000. Arrowstreet Capital Limited Partnership purchased a new stake in Sandisk in the third quarter valued at $297,293,000. Bank of America Corp DE purchased a new stake in Sandisk in the third quarter valued at $190,425,000. Finally, AQR Capital Management LLC acquired a new stake in Sandisk during the third quarter worth about $163,057,000.

About Sandisk

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. It offers SSDs for client computing applications, which encompass desktop computers, notebook computers, tablets and other computing devices.