Sandisk (NASDAQ:SNDK) Sets New 52-Week High – Still a Buy?

Sandisk Corporation (NASDAQ:SNDK)’s stock price reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $2,167.33 and last traded at $1,991.55, with a volume of 9524779 shares traded. The stock had previously closed at $2,107.86.

Sandisk News Roundup

Here are the key news stories impacting Sandisk this week:

• Positive Sentiment: Analysts and industry coverage continue to highlight strong AI-related demand for memory and NAND storage, including AI inference workloads, enterprise SSDs, and edge-AI devices that could keep driving Sandisk’s revenue growth. Article: Can AI Inference Workloads Accelerate NAND Demand for Sandisk?
• Positive Sentiment: One article upgraded Sandisk to Buy, arguing that edge AI is creating explosive local storage demand and could justify significantly higher valuation if growth stays strong. Article: Sandisk: I Was Wrong, Edge AI Changes Everything (Rating Upgrade)
• Positive Sentiment: Memory and storage stocks have been among the top performers in 2026, with SanDisk benefiting from the broader AI memory trade and tighter supply conditions across the sector. Article: AI Memory Demand Has Turned These 5 S&P 500 Stocks Into Market Leaders
• Neutral Sentiment: The stock hit a new all-time high before retreating, suggesting some investors are taking profits after an extended surge rather than reacting to a change in fundamentals. Article: SanDisk Stock (SNDK) Retreats After Hitting a New All-Time High
• Negative Sentiment: Several market-watch articles say SNDK may be one of the most overbought stocks in history, raising the risk of a sharper correction if momentum traders start heading for the exits. Article: SanDisk Is ‘the Most Overbought Stock in History,’ Says Polymarket
• Negative Sentiment: Bearish commentary argues the memory supercycle may not last as long as investors expect, which could temper enthusiasm for Sandisk’s stretched valuation. Article: Sandisk: The Supercycle Won’t Last As Long As Investors Hope

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on SNDK shares. Royal Bank Of Canada upped their target price on shares of Sandisk from $650.00 to $1,000.00 and gave the company a “sector perform” rating in a research note on Friday, May 1st. Barclays raised shares of Sandisk from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $1,200.00 to $2,300.00 in a research note on Tuesday, May 26th. Jefferies Financial Group reissued a “buy” rating and issued a $1,400.00 target price on shares of Sandisk in a research note on Friday, May 1st. KGI Securities started coverage on shares of Sandisk in a research note on Wednesday, March 18th. They issued an “outperform” rating and a $992.00 target price on the stock. Finally, Wells Fargo & Company upped their target price on shares of Sandisk from $975.00 to $1,250.00 and gave the company an “equal weight” rating in a research note on Friday, May 1st. Three analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $1,580.67.

Sandisk Price Performance

The stock has a market capitalization of $294.93 billion, a P/E ratio of 69.22 and a beta of 4.87. The company’s 50 day simple moving average is $1,342.03 and its two-hundred day simple moving average is $778.73.

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

Insider Activity

In other Sandisk news, EVP Alper Ilkbahar sold 2,000 shares of the company’s stock in a transaction dated 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 sale, the executive vice president directly owned 52,677 shares of the company’s stock, valued at approximately $92,531,364.66. This represents a 3.66% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Necip Sayiner sold 579 shares of the company’s stock in a transaction dated 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 sale, the director directly owned 2,900 shares in the company, valued at $4,359,019. This represents a 16.64% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 5,625 shares of company stock valued at $8,913,497 over the last three months. 0.21% of the stock is owned by corporate insiders.

Institutional Trading of Sandisk

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Osaic Holdings Inc. acquired a new stake in shares of Sandisk in the second quarter valued at approximately $317,000. Merit Financial Group LLC acquired a new stake in shares of Sandisk in the third quarter valued at approximately $408,000. Jones Financial Companies Lllp acquired a new stake in shares of Sandisk in the third quarter valued at approximately $134,000. ProShare Advisors LLC acquired a new stake in shares of Sandisk in the third quarter valued at approximately $269,000. Finally, Cibc World Market Inc. acquired a new stake in shares of Sandisk in the third quarter valued at approximately $923,000.

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.