Sandisk (NASDAQ:SNDK) Trading 4.1% Higher – Time to Buy?

Sandisk Corporation (NASDAQ:SNDK)’s stock price rose 4.1% on Monday . The company traded as high as $2,354.39 and last traded at $2,273.73. 9,849,017 shares were traded during trading, a decline of 42% from the average session volume of 16,867,625 shares. The stock had previously closed at $2,184.75.

Trending Headlines about Sandisk

Here are the key news stories impacting Sandisk this week:

• Positive Sentiment: Bank of America reportedly raised its price target to $2,100, adding to bullish momentum after SanDisk hit a new 52-week high on worsening global NAND flash shortages. Why Is SanDisk Stock Surging Monday?
• Positive Sentiment: Analysts and media reports say AI demand is fundamentally changing the NAND market, with memory shortages and data-center growth supporting higher pricing and stronger earnings expectations for SanDisk. SanDisk sees AI as fundamentally changing NAND market, Morgan Stanley says
• Positive Sentiment: Memory stocks are rallying broadly into Micron’s upcoming earnings report, with SanDisk participating in the sector move as investors bet that supply tightness will keep prices elevated. Micron and Western Digital Rise 6%, SanDisk Gains 5% as Memory Stocks Rally Into Micron’s Earnings
• Positive Sentiment: ETF and fund articles highlighted SanDisk as a major holding benefiting from the storage supercycle, which may attract additional investor attention and flows. Why SanDisk (SNDK) Is GFLW’s Top Holding
• Neutral Sentiment: Several stories focused on the stock’s extreme year-to-date surge and comparisons with peers such as Micron, Seagate, and Kioxia; these notes reflect strong momentum but also suggest the move has become crowded. Sandisk (SNDK) Stock Could Be 579% Overvalued After Its Recent Share Price Surge
• Neutral Sentiment: Coverage of a politician’s large paper gain and other “suspicious trade” headlines may boost attention, but they do not change Sandisk’s fundamentals. U.S. politician up over 5,000% in under a year on this super suspicious AI stock trade

Analyst Upgrades and Downgrades

A number of brokerages recently commented on SNDK. Morgan Stanley raised their price target on Sandisk from $1,100.00 to $1,750.00 and gave the stock an “overweight” rating in a research report on Wednesday, June 3rd. Weiss Ratings cut shares of Sandisk from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Wednesday, June 3rd. The Goldman Sachs Group reiterated a “buy” rating and set a $1,200.00 price objective on shares of Sandisk in a research note on Friday, May 1st. Citigroup raised their target price on shares of Sandisk from $1,300.00 to $2,025.00 and gave the company a “buy” rating in a report on Tuesday, May 19th. Finally, Mizuho boosted their target price on shares of Sandisk from $1,825.00 to $2,200.00 and gave the company an “outperform” rating in a research report on Monday, June 8th. Three equities research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat, Sandisk presently has an average rating of “Moderate Buy” and a consensus target price of $1,580.67.

Sandisk Price Performance

The stock has a market cap of $336.72 billion, a P/E ratio of 79.03 and a beta of 4.88. The business’s fifty day moving average price is $1,424.27 and its 200 day moving average price is $818.73.

Sandisk (NASDAQ:SNDK) last announced its quarterly earnings results on Thursday, April 30th. The data storage provider reported $23.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $14.17 by $9.24. The company 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%. The company’s revenue for the quarter was up 251.0% compared to the same quarter last year. During the same period last year, the firm posted ($0.30) earnings per share. Sandisk has set its Q4 2026 guidance at 30.000-33.000 EPS. On average, analysts predict that Sandisk Corporation will post 64.01 earnings per share for the current fiscal year.

Insider Activity at Sandisk

In related news, insider Bernard Shek sold 600 shares of the firm’s stock in a transaction that occurred on Wednesday, June 3rd. The shares were sold at an average price of $1,736.00, for a total value of $1,041,600.00. Following the completion of the transaction, the insider owned 32,232 shares in the company, valued at $55,954,752. This trade represents a 1.83% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Necip Sayiner sold 579 shares of the firm’s stock in a transaction on Friday, May 8th. The shares were sold at an average price of $1,503.11, for a total transaction of $870,300.69. Following the transaction, the director directly owned 2,900 shares of the company’s stock, valued at $4,359,019. The trade was a 16.64% decrease in their position. 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. 0.21% of the stock is currently owned by corporate insiders.

Institutional Trading of Sandisk

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. State Street Corp acquired a new stake in shares of Sandisk during the third quarter worth $491,053,000. Arrowstreet Capital Limited Partnership acquired a new position in Sandisk in the third quarter valued at $297,293,000. Norges Bank bought a new stake in Sandisk during the fourth quarter valued at $518,889,000. Bank of America Corp DE bought a new stake in Sandisk during the third quarter valued at $190,425,000. Finally, AQR Capital Management LLC acquired a new stake in Sandisk during the 3rd quarter worth about $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.