Sandisk (NASDAQ:SNDK) Trading Up 9.4% – Here’s What Happened

Sandisk Corporation (NASDAQ:SNDK) shares shot up 9.4% during trading on Wednesday . The stock traded as high as $680.94 and last traded at $695.0080. 5,561,328 shares changed hands during mid-day trading, a decline of 71% from the average session volume of 19,285,100 shares. The stock had previously closed at $635.34.

More Sandisk News

Here are the key news stories impacting Sandisk this week:

• Positive Sentiment: Analysts and deep-dive writeups highlight SanDisk’s exposure to the AI memory supercycle and project sizable upside if AI storage demand continues — some commentaries even map a path toward much higher long-term targets as AI data-center spending lifts NAND demand. Sandisk’s Path to $1,000 Per Share Runs Through the AI Memory Boom
• Positive Sentiment: Company fundamentals and industry positioning are repeatedly praised: strong revenue/margin growth, the Kioxia JV securing wafer access, and a shift toward high‑value SSD/AI products that support margin expansion and market-share gains. This underpins bullish investor expectations. Sandisk: Strong Fundamentals With Visible Growth Path
• Positive Sentiment: Analyst momentum and upgrades (including comparative bullish takes vs. peers like Micron) and media coverage of a “buy‑the‑dip” bounce after last week’s pullback have supported the recovery. Why Are SanDisk Shares Surging Wednesday?
• Neutral Sentiment: SanDisk set its fiscal Q3 earnings date for April 30 — investors will watch guidance and AI demand commentary on the call for confirmation of current expectations. Sandisk to Report Fiscal Third-Quarter Results on April 30, 2026
• Neutral Sentiment: Coverage reminding investors that the memory sector has cooled from 2025’s peak — a reminder that momentum can reverse if demand or pricing weakens. Watch macro AI capex trends. Memory Stocks Were One of 2025’s Hottest Trades. Now They’ve Cooled Off.
• Negative Sentiment: Ongoing risks: concerns around AI memory compression (e.g., Google’s TurboQuant) and high valuation relative to history create downside risk if cloud customers materially reduce raw NAND requirements. Commentaries urge caution near all‑time highs. SanDisk Gains 5%: 3 Reasons the Memory Supercycle Is Far From Over

Analyst Ratings Changes

SNDK has been the topic of several analyst reports. Bank of America boosted their target price on Sandisk from $850.00 to $900.00 and gave the company a “buy” rating in a research report on Monday, March 23rd. JPMorgan Chase & Co. began coverage on shares of Sandisk in a research note on Monday, December 8th. They set a “neutral” rating and a $235.00 price objective for the company. Mizuho set a $600.00 price objective on shares of Sandisk in a research report on Tuesday, January 27th. Sanford C. Bernstein increased their target price on shares of Sandisk from $300.00 to $580.00 and gave the company an “outperform” rating in a research note on Wednesday, January 14th. Finally, KGI Securities initiated coverage on shares of Sandisk in a report on Wednesday, March 18th. They issued an “outperform” rating and a $992.00 target price for the company. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $594.48.

Sandisk Stock Performance

The firm has a market cap of $104.45 billion and a PE ratio of -93.48. The business has a 50 day simple moving average of $613.51 and a two-hundred day simple moving average of $353.48. The company has a quick ratio of 1.92, a current ratio of 3.11 and a debt-to-equity ratio of 0.06.

Sandisk (NASDAQ:SNDK) last posted its quarterly earnings results on Thursday, January 29th. The data storage provider reported $6.20 EPS for the quarter, topping analysts’ consensus estimates of $3.31 by $2.89. The firm had revenue of $3.03 billion for the quarter, compared to analysts’ expectations of $2.67 billion. Sandisk had a negative net margin of 11.66% and a positive return on equity of 10.11%. The firm’s revenue was up 61.2% on a year-over-year basis.

Insider Activity

In related news, Director Miyuki Suzuki sold 3,500 shares of the stock in a transaction that occurred on Wednesday, February 25th. The stock was sold at an average price of $627.53, for a total value of $2,196,355.00. Following the transaction, the director owned 9,907 shares of the company’s stock, valued at $6,216,939.71. This represents a 26.11% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.21% of the company’s stock.

Institutional Trading of Sandisk

A number of hedge funds have recently added to or reduced their stakes in SNDK. Vanguard Group Inc. purchased a new position in Sandisk during the 3rd quarter valued at about $1,970,388,000. State Street Corp boosted its stake in shares of Sandisk by 20.7% during the fourth quarter. State Street Corp now owns 5,281,522 shares of the data storage provider’s stock valued at $1,253,728,000 after purchasing an additional 904,933 shares in the last quarter. Geode Capital Management LLC increased its holdings in Sandisk by 44.9% during the fourth quarter. Geode Capital Management LLC now owns 3,655,860 shares of the data storage provider’s stock valued at $866,310,000 after buying an additional 1,133,276 shares during the period. Arrowstreet Capital Limited Partnership increased its holdings in Sandisk by 31.3% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 3,478,002 shares of the data storage provider’s stock valued at $825,608,000 after buying an additional 828,332 shares during the period. Finally, Morgan Stanley raised its stake in Sandisk by 7.2% in the fourth quarter. Morgan Stanley now owns 2,970,361 shares of the data storage provider’s stock worth $705,105,000 after buying an additional 199,545 shares in the last quarter.

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.