Sandisk (NASDAQ:SNDK) Trading 5.2% Higher – Here’s What Happened

Sandisk Corporation (NASDAQ:SNDK)’s share price rose 5.2% during trading on Friday . The company traded as high as $2,021.65 and last traded at $1,980.10. Approximately 11,637,723 shares traded hands during trading, a decline of 32% from the average daily volume of 17,171,945 shares. The stock had previously closed at $1,881.51.

Key Sandisk News

Here are the key news stories impacting Sandisk this week:

• Positive Sentiment: Bank of America raised its price target on Sandisk to $2,100 and kept a Buy rating, signaling confidence that the AI memory demand trend still has room to run. SanDisk Stock’s 5,000% Rally Hasn’t Stopped This Analyst: Is $2,100 Next?
• Positive Sentiment: Another analyst update also boosted sentiment, with BofA’s Wamsi Mohan reportedly lifting his target to $2,100 on the view that Sandisk remains well positioned in the memory market. This Analyst Just Upped the Price Target on SanDisk Stock. Here’s Why.
• Positive Sentiment: Shares also rose on a broader rebound in memory stocks after SK Hynix’s capacity plan lifted optimism around supply-demand balance in the sector. SanDisk Jumps 14%, Western Digital Climbs 6% as Memory Stocks Rebound on SK Hynix’s Capacity Plan
• Positive Sentiment: Market commentary continues to frame SNDK as an AI growth winner, with traders and analysts highlighting strong memory demand and expanding AI infrastructure exposure. SanDisk Stock (SNDK) Is Up 692% YTD. AI Analyst Raises Price Target and Still Sees More Upside Ahead
• Neutral Sentiment: Some media coverage is focused mainly on the stock’s extraordinary year-to-date surge and valuation, which may keep investor attention high but does not add a new operational catalyst. SanDisk skyrockets over 692% YTD, yet SNDK stock still appears reasonably valued

Analyst Upgrades and Downgrades

SNDK has been the topic of several research reports. Royal Bank Of Canada raised their target price on Sandisk from $650.00 to $1,000.00 and gave the stock a “sector perform” rating in a research report on Friday, May 1st. Morgan Stanley increased their price objective on shares of Sandisk from $1,100.00 to $1,750.00 and gave the stock an “overweight” rating in a research note on Wednesday, June 3rd. The Goldman Sachs Group restated a “buy” rating and set a $1,200.00 target price on shares of Sandisk in a research report on Friday, May 1st. Evercore reaffirmed an “outperform” rating and set a $1,400.00 target price on shares of Sandisk in a report on Friday, May 1st. Finally, UBS Group set a $1,700.00 price target on shares of Sandisk in a research report on Monday, May 4th. Three investment analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $1,580.67.

Sandisk Trading Up 5.2%

The company has a market cap of $293.23 billion, a P/E ratio of 68.83 and a beta of 4.87. The firm has a 50 day moving average of $1,262.36 and a 200-day moving average of $740.58.

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

Insider Transactions at Sandisk

In other news, Director Necip Sayiner sold 579 shares of the stock in a transaction that occurred on Friday, May 8th. The stock was sold at an average price of $1,503.11, for a total transaction of $870,300.69. Following the completion of the transaction, the director directly owned 2,900 shares in the company, valued at approximately $4,359,019. This represents a 16.64% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Alper Ilkbahar sold 2,000 shares of the firm’s stock in a transaction on Monday, June 1st. The shares were sold at an average price of $1,756.58, for a total transaction of $3,513,160.00. Following the completion of 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 ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 5,625 shares of company stock valued at $8,913,497 over the last three months. Corporate insiders own 0.21% of the company’s stock.

Institutional Investors Weigh In On Sandisk

Hedge funds have recently bought and sold shares of the business. Valley Wealth Managers Inc. purchased a new position in shares of Sandisk in the 1st quarter worth $25,000. IMG Wealth Management Inc. purchased a new stake in shares of Sandisk during the 1st quarter valued at about $29,000. SOA Wealth Advisors LLC. lifted its holdings in shares of Sandisk by 108.0% in the 1st quarter. SOA Wealth Advisors LLC. now owns 52 shares of the data storage provider’s stock valued at $33,000 after acquiring an additional 27 shares during the last quarter. Cedar Mountain Advisors LLC increased its stake in Sandisk by 2,750.0% during the first quarter. Cedar Mountain Advisors LLC now owns 57 shares of the data storage provider’s stock worth $36,000 after acquiring an additional 55 shares during the last quarter. Finally, Roble Belko & Company Inc purchased a new stake in Sandisk during the first quarter valued at approximately $39,000.

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