Sandisk Corporation (NASDAQ:SNDK) Short Interest Up 27.2% in December

Sandisk Corporation (NASDAQ:SNDK) saw a significant growth in short interest in the month of December. As of December 31st, there was short interest totaling 8,816,510 shares, a growth of 27.2% from the December 15th total of 6,930,918 shares. Based on an average trading volume of 6,924,731 shares, the days-to-cover ratio is currently 1.3 days. Approximately 6.0% of the shares of the company are short sold. Approximately 6.0% of the shares of the company are short sold. Based on an average trading volume of 6,924,731 shares, the days-to-cover ratio is currently 1.3 days.

Sandisk Stock Up 1.1%

NASDAQ SNDK traded up $4.38 during trading on Monday, reaching $413.62. 15,625,920 shares of the company’s stock were exchanged, compared to its average volume of 10,191,790. Sandisk has a 1 year low of $27.89 and a 1 year high of $432.02. The stock has a market cap of $60.62 billion and a P/E ratio of 1,292.56. The company has a debt-to-equity ratio of 0.14, a quick ratio of 2.03 and a current ratio of 3.29. The company has a 50 day moving average price of $259.52 and a two-hundred day moving average price of $148.97.

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

Analysts Set New Price Targets

A number of brokerages have recently issued reports on SNDK. Barclays set a $385.00 price target on Sandisk in a research note on Thursday. Morgan Stanley boosted their price target on shares of Sandisk from $263.00 to $273.00 and gave the stock an “overweight” rating in a research report on Monday, November 24th. JPMorgan Chase & Co. started coverage on Sandisk in a research note on Monday, December 8th. They issued a “neutral” rating and a $235.00 target price for the company. Fox Advisors upgraded Sandisk from a “hold” rating to a “strong-buy” rating in a research report on Friday, November 7th. Finally, Cantor Fitzgerald increased their price target on Sandisk from $240.00 to $300.00 and gave the stock an “overweight” rating in a report on Friday, November 7th. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating, seven have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $316.84.

Insider Transactions at Sandisk

In related news, Director Necip Sayiner sold 1,271 shares of the firm’s stock in a transaction on Wednesday, December 3rd. The shares were sold at an average price of $195.14, for a total transaction of $248,022.94. Following the sale, the director owned 3,479 shares in the company, valued at approximately $678,892.06. This trade represents a 26.76% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.21% of the company’s stock.

Institutional Investors Weigh In On Sandisk

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