Sandisk (NASDAQ:SNDK) Shares Up 11.9% – Here’s Why

Shares of Sandisk Corporation (NASDAQ:SNDK) shot up 11.9% during mid-day trading on Friday . The stock traded as high as $1,740.00 and last traded at $1,740.00. Approximately 16,163,652 shares traded hands during mid-day trading, an increase of 0% from the average session volume of 16,153,852 shares. The stock had previously closed at $1,554.99.

More Sandisk News

Here are the key news stories impacting Sandisk this week:

• Positive Sentiment: AI-driven memory demand is the main catalyst. Nvidia’s reported $12.9 billion acquisition of Hugging Face reinforced expectations that expanding AI data centers will require significantly more NAND storage. SanDisk rose alongside Micron and other AI-related semiconductor stocks. SanDisk Shares Surge Following Nvidia’s Hugging Face Deal
• Positive Sentiment: Analysts see substantial upside. Lynx Research set a $2,450 target for SNDK, while other bullish research points to accelerating NAND pricing, supply-and-demand advantages and strong AI-related growth. Zacks also maintained a Rank #1, or Strong Buy, view. Lynx Research Memory Stock Price Targets
• Positive Sentiment: SanDisk’s latest results provide fundamental support: earnings exceeded estimates, revenue rose 371.6% year over year, and management guided to $44–$46 in fiscal first-quarter 2027 EPS. The company’s $14 billion share-repurchase authorization may further support the stock.
• Neutral Sentiment: The broader semiconductor group is strong, but macro conditions remain mixed. A hot employment report pushed Treasury yields and rate-hike expectations higher, creating volatility for high-growth technology stocks. SanDisk will present at Citi’s and Goldman Sachs’ technology conferences on September 8–9, potentially providing additional guidance. SanDisk Investor Conference Participation
• Negative Sentiment: Investors continue to face risks from the memory industry’s cyclicality, elevated valuation and rising Chinese competition. Progress by China’s CXMT and other domestic producers could pressure SanDisk’s pricing and market share. A company insider also sold $915,360 of shares under a pre-arranged Rule 10b5-1 plan, although the sale was relatively small compared with the remaining holding. China Memory Market Share Concerns

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on SNDK. Zacks Research raised Sandisk from a “hold” rating to a “strong-buy” rating in a research report on Thursday, July 30th. UBS Group reiterated an “overweight” rating and issued a $1,750.00 target price on shares of Sandisk in a report on Friday, August 14th. Argus raised Sandisk from a “hold” rating to a “buy” rating in a research note on Monday, August 10th. Susquehanna reduced their price objective on shares of Sandisk from $3,250.00 to $3,050.00 and set a “positive” rating for the company in a research report on Thursday, July 23rd. Finally, Melius Research set a $2,350.00 price objective on shares of Sandisk in a research report on Monday, May 18th. Three research analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $1,998.14.

Sandisk Stock Performance

The business has a fifty day moving average of $1,543.33 and a 200-day moving average of $1,285.12. The company has a market capitalization of $254.77 billion, a P/E ratio of 23.87, a PEG ratio of 0.17 and a beta of 5.17.

Sandisk (NASDAQ:SNDK) last issued its quarterly earnings data on Wednesday, August 5th. The data storage provider reported $39.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $33.28 by $5.97. Sandisk had a net margin of 56.47% and a return on equity of 87.84%. The firm had revenue of $8.96 billion during the quarter. During the same quarter in the prior year, the business earned $0.29 earnings per share. The firm’s quarterly revenue was up 371.6% compared to the same quarter last year. Sandisk has set its Q1 2027 guidance at 44.000-46.000 EPS. Sell-side analysts anticipate that Sandisk Corporation will post 208.92 EPS for the current year.

Sandisk declared that its board has authorized a share repurchase plan on Wednesday, August 5th that permits the company to buyback $14.00 billion in outstanding shares. This buyback authorization permits the data storage provider to purchase up to 6.6% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s board of directors believes its shares are undervalued.

Insiders Place Their Bets

In other Sandisk news, insider Bernard Shek sold 600 shares of the company’s stock in a transaction dated Tuesday, September 1st. The shares were sold at an average price of $1,525.60, for a total value of $915,360.00. Following the completion of the sale, the insider directly owned 29,884 shares of the company’s stock, valued at approximately $45,591,030.40. This represents a 1.97% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 1,800 shares of company stock worth $2,865,456 in the last 90 days. 0.21% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Sandisk

Hedge funds and other institutional investors have recently modified their holdings of the business. Dunhill Financial LLC bought a new stake in Sandisk during the second quarter worth $30,000. Mowery & Schoenfeld Wealth Management LLC purchased a new stake in shares of Sandisk during the 2nd quarter valued at $32,000. Kilter Group LLC purchased a new stake in shares of Sandisk during the 2nd quarter valued at $32,000. KERR FINANCIAL PLANNING Corp bought a new stake in shares of Sandisk during the 2nd quarter worth $34,000. Finally, Triumph Capital Management boosted its holdings in shares of Sandisk by 220.0% in the 2nd quarter. Triumph Capital Management now owns 16 shares of the data storage provider’s stock worth $36,000 after buying an additional 11 shares during 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.