Sandisk (NASDAQ:SNDK) Trading Down 4% – What’s Next?

Shares of Sandisk Corporation (NASDAQ:SNDK) fell 4% during trading on Friday . The company traded as low as $1,325.03 and last traded at $1,354.82. 19,504,979 shares traded hands during trading, an increase of 19% from the average daily volume of 16,441,541 shares. The stock had previously closed at $1,411.08.

Key Stories Impacting Sandisk

Here are the key news stories impacting Sandisk this week:

• Positive Sentiment: Analysts remain broadly constructive on Sandisk despite the selloff, arguing that AI infrastructure spending should keep driving memory and storage demand and that the stock’s lower valuation may create upside if fundamentals hold. Article Title
• Positive Sentiment: One article highlighted Sandisk as among the cheapest Nasdaq 100 stocks on forward earnings, suggesting the recent drop may have made the shares look more attractive to value-oriented investors. Article Title
• Neutral Sentiment: Sandisk has also been featured in bullish memory-stock commentary tied to AI demand, but the market is currently balancing that long-term growth story against near-term volatility and profit-taking. Article Title
• Neutral Sentiment: The company launched Fab2 with Kioxia and began BiCS10 sampling, a development that supports its technology roadmap but was not the main driver of trading today. Article Title
• Negative Sentiment: Shares have fallen sharply after breaking key technical support levels, with traders citing an analyst downgrade, weak momentum, and caution ahead of the next earnings report. Article Title
• Negative Sentiment: Fresh concerns about Chinese competition added to the selloff, as reports said CXMT is preparing a large memory IPO, increasing fears of future pricing pressure across the sector. Article Title

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the company. Citigroup lifted their target price on Sandisk from $2,025.00 to $2,500.00 and gave the company a “buy” rating in a report on Thursday, June 25th. Zacks Research lowered Sandisk from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 1st. Wells Fargo & Company raised their price objective on Sandisk from $975.00 to $1,250.00 and gave the stock an “equal weight” rating in a report on Friday, May 1st. UBS Group set a $1,700.00 price objective on Sandisk in a research note on Monday, May 4th. Finally, Argus assumed coverage on Sandisk in a report on Wednesday. They set a “hold” rating for the company. Two research analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $1,803.29.

Sandisk Trading Down 4.0%

The stock has a market capitalization of $200.57 billion, a PE ratio of 47.08 and a beta of 4.74. The business’s 50-day moving average is $1,750.41 and its two-hundred day moving average is $1,040.34.

Sandisk (NASDAQ:SNDK) last released its quarterly earnings data 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 for the quarter. Sandisk had a return on equity of 44.06% and a net margin of 34.19%.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 business earned ($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 64.95 EPS for the current year.

Insider Buying and Selling

In related news, insider Bernard Shek sold 600 shares of Sandisk stock in a transaction on Wednesday, July 1st. The shares were sold at an average price of $2,088.00, for a total transaction of $1,252,800.00. Following the sale, the insider owned 31,515 shares of the company’s stock, valued at $65,803,320. The trade was a 1.87% decrease in their position. 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, EVP Alper Ilkbahar sold 2,000 shares of Sandisk stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $1,756.58, for a total value of $3,513,160.00. Following the sale, the executive vice president directly owned 52,677 shares in the company, valued at approximately $92,531,364.66. The trade was a 3.66% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 6,225 shares of company stock worth $10,166,297 in the last ninety days. 0.21% of the stock is owned by corporate insiders.

Institutional Trading of Sandisk

Institutional investors have recently added to or reduced their stakes in the stock. State Street Corp raised its stake in shares of Sandisk by 20.7% in the 4th quarter. State Street Corp now owns 5,281,522 shares of the data storage provider’s stock valued at $1,253,728,000 after purchasing an additional 904,933 shares in the last quarter. Geode Capital Management LLC grew its stake in Sandisk by 44.9% in the fourth quarter. Geode Capital Management LLC now owns 3,655,860 shares of the data storage provider’s stock worth $866,310,000 after purchasing an additional 1,133,276 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its holdings in Sandisk by 31.3% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 3,478,002 shares of the data storage provider’s stock valued at $825,608,000 after buying an additional 828,332 shares during the last quarter. Morgan Stanley increased its holdings in Sandisk by 7.2% in the fourth quarter. Morgan Stanley now owns 2,970,361 shares of the data storage provider’s stock valued at $705,105,000 after buying an additional 199,545 shares during the last quarter. Finally, Norges Bank acquired a new stake in Sandisk during the fourth quarter valued at approximately $518,889,000.

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.