Sandisk (NASDAQ:SNDK) Stock Price Down 1.9% – Here’s What Happened

Shares of Sandisk Corporation (NASDAQ:SNDK) were down 1.9% during mid-day trading on Monday . The company traded as low as $1,895.00 and last traded at $2,050.39. 11,113,659 shares traded hands during trading, a decline of 34% from the average daily volume of 16,712,746 shares. The stock had previously closed at $2,090.71.

Sandisk News Summary

Here are the key news stories impacting Sandisk this week:

• Positive Sentiment: Bank of America raised its price target on SanDisk to $2,500 and kept a Buy rating, citing stronger NAND pricing, tight supply, and demand that it expects to remain constrained through 2027. Article Title
• Positive Sentiment: Bernstein also boosted its SanDisk target sharply, reflecting growing confidence in the company’s contracts, memory-supercycle tailwinds, and earnings power. Article Title
• Positive Sentiment: SanDisk’s expanding QLC SSD portfolio could benefit from AI-driven storage demand, with cost-efficient enterprise products and multi-year supply deals supporting future revenue growth. Article Title
• Neutral Sentiment: Analysts remain split on valuation after the stock’s huge run-up, with some noting that the market may already be pricing in much of the AI-memory supercycle upside. Article Title
• Negative Sentiment: Shares are being dragged lower by a broader semiconductor pullback as investors lock in gains after a strong first half for the sector. Article Title
• Negative Sentiment: Rising interest rates and concern over a tech momentum slowdown are also weighing on high-multiple growth stocks like SanDisk. Article Title

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on SNDK shares. Mizuho lifted their price target on Sandisk from $1,825.00 to $2,200.00 and gave the stock an “outperform” rating in a research note on Monday, June 8th. KGI Securities initiated coverage on shares of Sandisk in a research report on Wednesday, March 18th. They set an “outperform” rating and a $992.00 target price on the stock. Citigroup raised their price objective on Sandisk from $2,025.00 to $2,500.00 and gave the stock a “buy” rating in a report on Thursday, June 25th. Arete Research raised Sandisk from a “hold” rating to a “strong-buy” rating in a research note on Monday, April 13th. Finally, Jefferies Financial Group restated a “buy” rating and issued a $1,400.00 target price on shares of Sandisk in a report on Friday, May 1st. Three 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 stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $1,684.24.

Sandisk Price Performance

The stock has a 50-day moving average price of $1,595.68 and a 200-day moving average price of $912.98. The firm has a market capitalization of $301.18 billion, a PE ratio of 71.23 and a beta of 4.87.

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

Insider Transactions at Sandisk

In other Sandisk news, insider Bernard Shek sold 600 shares of Sandisk 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 completion of the transaction, the insider directly owned 32,232 shares in the company, valued at $55,954,752. The trade was a 1.83% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at 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 business’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 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. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 5,625 shares of company stock valued at $8,913,497 in the last three months. Corporate insiders own 0.21% of the company’s stock.

Institutional Investors Weigh In On Sandisk

Several institutional investors have recently bought and sold shares of the stock. Basecamp Wealth Advisors LLC raised its position in shares of Sandisk by 7.8% during the 1st quarter. Basecamp Wealth Advisors LLC now owns 333 shares of the data storage provider’s stock worth $212,000 after buying an additional 24 shares in the last quarter. Parallel Advisors LLC boosted its holdings in shares of Sandisk by 233.3% in the first quarter. Parallel Advisors LLC now owns 1,430 shares of the data storage provider’s stock worth $909,000 after buying an additional 1,001 shares during the period. NewEdge Advisors LLC lifted its holdings in shares of Sandisk by 187.2% in the first quarter. NewEdge Advisors LLC now owns 18,129 shares of the data storage provider’s stock valued at $11,518,000 after purchasing an additional 11,817 shares in the last quarter. Keel Point LLC purchased a new stake in Sandisk in the 1st quarter worth about $314,000. Finally, Glenmede Trust Co. NA grew its position in Sandisk by 76.4% during the first quarter. Glenmede Trust Co. NA now owns 2,754 shares of the data storage provider’s stock valued at $1,750,000 after purchasing an additional 1,193 shares in the last quarter.

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.