Sandisk (NASDAQ:SNDK) Shares Down 13.6% – What’s Next?

Sandisk Corporation (NASDAQ:SNDK)’s stock price dropped 13.6% during trading on Tuesday . The stock traded as low as $1,949.96 and last traded at $1,963.60. Approximately 12,588,784 shares were traded during mid-day trading, a decline of 25% from the average daily volume of 16,820,531 shares. The stock had previously closed at $2,273.73.

Sandisk News Summary

Here are the key news stories impacting Sandisk this week:

• Positive Sentiment: Citi raised its price target on Sandisk and kept a Buy rating, signaling higher expected upside and renewed confidence in demand for flash storage. Sandisk Stock Spikes 15% After Citi Unleashes Massive Price Target Hike
• Positive Sentiment: Micron’s strong quarterly results and bullish guidance lifted sentiment across the memory sector, helping Sandisk as investors bet AI memory demand remains robust. Micron’s Blowout Q3 Report Ripples Through Memory Stocks SanDisk, Western Digital
• Positive Sentiment: Market commentary highlighted Sandisk as a beneficiary of an AI memory shortage and pricing power, which supports the stock’s momentum narrative. Apple Just Handed These 4 Memory Stocks Their Best News of the Year
• Neutral Sentiment: Several analyst and media pieces argue Sandisk remains a high-momentum stock, but these are largely commentary on the existing rally rather than new fundamentals. Are You Looking for a Top Momentum Pick? Why Sandisk Corporation (SNDK) is a Great Choice
• Negative Sentiment: Some commentary warns the stock has run too far too fast and that risk/reward may be less attractive after the huge rally, which could temper gains if momentum cools. SanDisk Has Run Hot, The Price Target Carries a Warning

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on SNDK. Barclays upgraded shares of Sandisk from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $1,200.00 to $2,300.00 in a research note on Tuesday, May 26th. KGI Securities assumed coverage on Sandisk in a research report on Wednesday, March 18th. They set an “outperform” rating and a $992.00 target price on the stock. Mizuho lifted their price target on Sandisk from $1,825.00 to $2,200.00 and gave the company an “outperform” rating in a report on Monday, June 8th. Evercore reissued an “outperform” rating and issued a $1,400.00 price target on shares of Sandisk in a research report on Friday, May 1st. Finally, Susquehanna upped their price objective on Sandisk from $2,000.00 to $3,250.00 and gave the stock a “positive” rating in a research note on Friday, May 29th. Three investment analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $1,580.67.

Sandisk Stock Performance

The company has a 50 day moving average of $1,494.22 and a two-hundred day moving average of $857.75. The stock has a market capitalization of $336.25 billion, a PE ratio of 79.00 and a beta of 4.87.

Sandisk (NASDAQ:SNDK) last issued its quarterly earnings results 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. Sandisk had a return on equity of 44.06% and a net margin of 34.19%.The business had revenue of $5.95 billion during the quarter. During the same period in the prior year, the business posted ($0.30) EPS. Sandisk’s revenue was up 251.0% compared to the same quarter last year. Sandisk has set its Q4 2026 guidance at 30.000-33.000 EPS. As a group, research analysts predict that Sandisk Corporation will post 64.01 EPS for the current fiscal year.

Insider Activity at Sandisk

In other news, insider Bernard Shek sold 600 shares of Sandisk stock in a transaction on Wednesday, June 3rd. The shares were sold at an average price of $1,736.00, for a total transaction of $1,041,600.00. Following the completion of the sale, the insider directly owned 32,232 shares in the company, valued at approximately $55,954,752. The trade was a 1.83% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Necip Sayiner sold 579 shares of the business’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 sale, the director directly owned 2,900 shares in the company, valued at $4,359,019. This trade 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 worth $8,913,497 in the last quarter. 0.21% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of SNDK. GHP Investment Advisors Inc. raised its position in Sandisk by 12.0% during the 1st quarter. GHP Investment Advisors Inc. now owns 121 shares of the data storage provider’s stock worth $77,000 after buying an additional 13 shares during the last quarter. Blair William & Co. IL boosted its holdings in shares of Sandisk by 0.3% in the 4th quarter. Blair William & Co. IL now owns 5,287 shares of the data storage provider’s stock valued at $1,255,000 after acquiring an additional 17 shares during the last quarter. Empirical Finance LLC increased its stake in shares of Sandisk by 0.7% in the first quarter. Empirical Finance LLC now owns 3,535 shares of the data storage provider’s stock worth $2,246,000 after acquiring an additional 24 shares during the period. Basecamp Wealth Advisors LLC raised its holdings in shares of Sandisk by 7.8% during the first quarter. Basecamp Wealth Advisors LLC now owns 333 shares of the data storage provider’s stock worth $212,000 after purchasing an additional 24 shares during the last quarter. Finally, SOA Wealth Advisors LLC. raised its holdings in shares of Sandisk by 108.0% during the first quarter. SOA Wealth Advisors LLC. now owns 52 shares of the data storage provider’s stock worth $33,000 after purchasing an additional 27 shares during 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.