Sandisk (NASDAQ:SNDK) Trading Up 14.5% – Here’s Why

Sandisk Corporation (NASDAQ:SNDK)’s stock price traded up 14.5% during trading on Thursday . The stock traded as high as $1,895.00 and last traded at $1,881.51. 13,396,462 shares were traded during mid-day trading, a decline of 22% from the average session volume of 17,218,320 shares. The stock had previously closed at $1,643.23.

Key Sandisk News

Here are the key news stories impacting Sandisk this week:

• Positive Sentiment: SanDisk shares rose as memory stocks rebounded, with investors encouraged by SK Hynix’s capacity plan, which lifted sentiment across the NAND and storage group. SanDisk Jumps 14%, Western Digital Climbs 6% as Memory Stocks Rebound on SK Hynix’s Capacity Plan
• Positive Sentiment: Wall Street analysts have grown more optimistic on Sandisk, including BofA raising its price target to $2,100 and keeping a Buy rating, which supports the stock’s momentum. BofA Raises SanDisk (SNDK) Price Target to $2,100, Keeps Buy Rating
• Positive Sentiment: Analysts also highlighted Sandisk’s new business model, which has secured $42 billion in revenue commitments and could reduce earnings volatility tied to NAND pricing swings. Can SNDK’s New Business Models Reduce Dependence on NAND Volatility?

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on SNDK shares. Citigroup lifted their price target on shares of Sandisk from $1,300.00 to $2,025.00 and gave the stock a “buy” rating in a research report on Tuesday, May 19th. Raymond James Financial restated an “outperform” rating and issued a $1,470.00 price objective on shares of Sandisk in a research report on Friday, May 1st. Sanford C. Bernstein raised their price objective on Sandisk from $1,250.00 to $1,700.00 and gave the stock an “outperform” rating in a research note on Monday, May 4th. Cantor Fitzgerald boosted their target price on Sandisk from $1,800.00 to $2,900.00 and gave the company an “overweight” rating in a research note on Monday. Finally, Bank of America increased their price target on Sandisk from $1,550.00 to $2,100.00 and gave the stock a “buy” rating in a report on Monday. Three equities research analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, Sandisk has an average rating of “Moderate Buy” and an average price target of $1,580.67.

Sandisk Stock Up 14.5%

The firm has a market capitalization of $278.63 billion, a price-to-earnings ratio of 65.40 and a beta of 4.87. The business’s fifty day moving average is $1,237.43 and its 200 day moving average is $728.74.

Sandisk (NASDAQ:SNDK) last announced its earnings results on Thursday, April 30th. The data storage provider reported $23.41 earnings per share for the quarter, topping analysts’ consensus estimates of $14.17 by $9.24. Sandisk had a net margin of 34.19% and a return on equity of 44.06%. The firm had revenue of $5.95 billion during the quarter. During the same period in the previous year, the company posted ($0.30) earnings per share. Sandisk’s revenue for the quarter was up 251.0% on a year-over-year basis. Sandisk has set its Q4 2026 guidance at 30.000-33.000 EPS. Equities research analysts expect that Sandisk Corporation will post 64.01 EPS for the current year.

Insider Transactions at Sandisk

In other Sandisk news, insider Bernard Shek sold 600 shares of the business’s stock in a transaction that occurred on Wednesday, June 3rd. The stock was sold at an average price of $1,736.00, for a total value of $1,041,600.00. Following the sale, the insider owned 32,232 shares in the company, valued at approximately $55,954,752. The trade was a 1.83% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Alper Ilkbahar sold 2,000 shares of the company’s stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $1,756.58, for a total value of $3,513,160.00. Following the transaction, the executive vice president directly owned 52,677 shares of the company’s stock, valued at approximately $92,531,364.66. This trade represents a 3.66% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 5,625 shares of company stock valued at $8,913,497 over the last three months. 0.21% of the stock is currently owned by corporate insiders.

Institutional Trading of Sandisk

A number of institutional investors have recently made changes to their positions in SNDK. Valley Wealth Managers Inc. bought a new position in Sandisk in the first quarter valued at $25,000. IMG Wealth Management Inc. bought a new stake in Sandisk during the 1st quarter worth about $29,000. SOA Wealth Advisors LLC. boosted its stake in shares of Sandisk by 108.0% during the 1st quarter. SOA Wealth Advisors LLC. now owns 52 shares of the data storage provider’s stock worth $33,000 after buying an additional 27 shares during the last quarter. Cedar Mountain Advisors LLC boosted its stake in shares of Sandisk by 2,750.0% during the 1st quarter. Cedar Mountain Advisors LLC now owns 57 shares of the data storage provider’s stock worth $36,000 after buying an additional 55 shares during the last quarter. Finally, Roble Belko & Company Inc bought a new position in shares of Sandisk in the 1st quarter valued at about $39,000.

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.