Sandisk (NASDAQ:SNDK) Stock Falls 8.5% – Time to Sell?

Sandisk Corporation (NASDAQ:SNDK)’s share price dropped 8.5% during trading on Thursday. The stock traded as low as $1,244.60 and last traded at $1,260.93. Approximately 10,138,442 shares traded hands during trading, a decline of 32% from the average session volume of 14,944,800 shares. The stock had previously closed at $1,378.22.

More Sandisk News

Here are the key news stories impacting Sandisk this week:

• Positive Sentiment: Mizuho analyst Lloyd Walmsley maintained a Buy rating and set a $2,050 price target, citing firm NAND pricing and upside from enterprise solid-state drives. Analyst Lloyd Walmsley Initiates Buy on SanDisk, Targeting $2,050 on Firm NAND Pricing and Enterprise SSD Upside
• Positive Sentiment: Several previews remain optimistic ahead of Sandisk’s October 29 earnings report, pointing to favorable NAND supply-demand conditions, AI-server demand, and the possibility of stronger-than-expected results and guidance. NAND demand has reportedly exceeded supply, with shortages potentially persisting through 2028. Prediction: Sandisk Stock Will Soar After Oct. 29
• Neutral Sentiment: Sandisk has gained dramatically since becoming an independent public company in February 2025, but the memory market is highly cyclical and volatile. The stock’s elevated valuation and distance below its recent peak make it particularly sensitive to changing expectations. Up 3,700%, Should You Buy Sandisk Right Now?
• Negative Sentiment: Memory and storage shares, including Sandisk, Western Digital, and Micron, faced a sector-wide selloff ahead of earnings. Investors are questioning whether the cost of AI infrastructure will limit future chip demand and spending, overriding the positive impact of Mizuho’s price target. Sandisk Sinks as Memory Selloff Deepens Ahead of Earnings
• Negative Sentiment: Additional risks include concerns about Chinese competition and the possibility that elevated AI capital expenditures could weaken if customers become more cost-conscious. These worries are driving investors to lock in gains despite currently favorable NAND fundamentals. SanDisk Stock Drops as AI Cost Worries Mount

Analyst Ratings Changes

A number of research analysts have issued reports on the company. Wedbush reissued an “outperform” rating and issued a $2,000.00 price target on shares of Sandisk in a report on Friday, August 14th. Rosenblatt Securities assumed coverage on shares of Sandisk in a report on Tuesday, September 22nd. They set a “buy” rating and a $2,400.00 target price for the company. Weiss Ratings downgraded shares of Sandisk from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday, October 14th. Susquehanna dropped their price target on shares of Sandisk from $3,050.00 to $2,745.00 and set a “positive” rating on the stock in a research report on Thursday, August 6th. Finally, Mizuho lifted their price objective on shares of Sandisk from $1,875.00 to $2,050.00 and gave the company an “outperform” rating in a report on Tuesday, October 6th. Three analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, Sandisk presently has a consensus rating of “Moderate Buy” and an average target price of $2,120.65.

Sandisk Stock Down 8.5%

The company has a market capitalization of $182.24 billion, a price-to-earnings ratio of 17.30, a PEG ratio of 0.14 and a beta of 5.23. The stock’s 50-day simple moving average is $1,608.84 and its two-hundred day simple moving average is $1,518.14.

Sandisk (NASDAQ:SNDK) last announced its earnings results on Wednesday, August 5th. The data storage provider reported $39.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $33.28 by $5.97. The business had revenue of $8.96 billion for the quarter. Sandisk had a net margin of 56.47% and a return on equity of 87.84%. The firm’s revenue for the quarter was up 371.6% compared to the same quarter last year. During the same quarter last year, the business earned $0.29 EPS. Sandisk has set its Q1 2027 guidance at 44.000-46.000 EPS. On average, sell-side analysts forecast that Sandisk Corporation will post 208.94 EPS for the current year.

Sandisk announced that its board has initiated a stock buyback program on Wednesday, August 5th that permits the company to buy back $14.00 billion in shares. This repurchase authorization permits the data storage provider to buy up to 6.6% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board of directors believes its stock is undervalued.

Insider Transactions at Sandisk

In other Sandisk news, insider Bernard Shek sold 600 shares of the stock in a transaction that occurred on Thursday, October 1st. The stock was sold at an average price of $1,734.94, for a total transaction of $1,040,964.00. Following the completion of the transaction, the insider owned 25,588 shares of the company’s stock, valued at $44,393,644.72. This represents a 2.29% decrease in their ownership of the stock. The sale was disclosed in a legal 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, CEO David Goeckeler sold 33,841 shares of the firm’s stock in a transaction that occurred on Thursday, September 17th. The shares were sold at an average price of $1,574.21, for a total value of $53,272,840.61. Following the completion of the transaction, the chief executive officer owned 382,865 shares in the company, valued at approximately $602,709,911.65. This trade represents a 8.12% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 77,899 shares of company stock valued at $121,159,122. 0.29% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Sandisk

A number of hedge funds have recently modified their holdings of the business. BlackRock Inc. purchased a new stake in Sandisk during the 2nd quarter valued at about $23,408,732,000. Situational Awareness LP lifted its position in Sandisk by 42.4% during the second quarter. Situational Awareness LP now owns 2,495,344 shares of the data storage provider’s stock worth $5,673,739,000 after buying an additional 743,325 shares in the last quarter. Wellington Management Group LLP boosted its stake in Sandisk by 71.2% during the second quarter. Wellington Management Group LLP now owns 1,066,886 shares of the data storage provider’s stock worth $2,425,811,000 after buying an additional 443,714 shares during the last quarter. Amundi grew its holdings in Sandisk by 135.5% in the 1st quarter. Amundi now owns 872,632 shares of the data storage provider’s stock valued at $554,418,000 after buying an additional 502,166 shares in the last quarter. Finally, Assenagon Asset Management S.A. grew its holdings in Sandisk by 33.3% in the 3rd quarter. Assenagon Asset Management S.A. now owns 828,900 shares of the data storage provider’s stock valued at $1,442,195,000 after buying an additional 207,051 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.