Sandisk (NASDAQ:SNDK) Shares Up 7.7% – Should You Buy?

Sandisk Corporation (NASDAQ:SNDK) shares were up 7.7% during trading on Wednesday. The stock traded as high as $1,408.45 and last traded at $1,404.77. Approximately 8,875,208 shares traded hands during trading, a decline of 40% from the average daily volume of 14,805,718 shares. The stock had previously closed at $1,304.84.

Key Sandisk News

Here are the key news stories impacting Sandisk this week:

• Positive Sentiment: Strong industry read-through from SK Hynix: SK Hynix’s 632% profit surge, upbeat outlook and planned shareholder returns are reinforcing expectations for sustained demand for high-bandwidth memory, NAND and data-center storage. This is lifting related memory stocks, including SNDK. Why Sandisk Stock Rallied Today
• Positive Sentiment: Favorable earnings expectations: Analysts expect Sandisk’s revenue to benefit from AI-driven data-center demand, expanding edge-storage requirements and improving NAND pricing. Management’s prior outlook called for roughly 18% sequential revenue growth at the midpoint, while the company has a history of beating earnings estimates. Can Strong Data Center and Edge Boost SNDK’s Top Line in Q1 Earnings?
• Positive Sentiment: Analyst support ahead of results: Wedbush reiterated a Buy view, arguing that the recent pullback has improved the risk-reward profile while long-term AI infrastructure demand remains favorable. SanDisk Stock Is a Buy, Says Wedbush
• Neutral Sentiment: High volatility and earnings risk: SNDK remains substantially below its recent high despite exceptional 2026 gains. The upcoming report and, particularly, guidance on NAND pricing, consumer demand, inventory and capital spending could determine whether the rebound continues.
• Negative Sentiment: Valuation concerns remain: Cantor Fitzgerald issued a pessimistic forecast, while other analysis warns that Sandisk trades at a premium to some peers and faces weakening consumer demand, free-cash-flow pressure and elevated capital-expenditure requirements. Cantor Fitzgerald Issues Pessimistic Forecast for Sandisk

Analyst Ratings Changes

SNDK has been the topic of several research analyst reports. JPMorgan Chase & Co. assumed coverage on Sandisk in a report on Friday, August 14th. They issued an “overweight” rating and a $2,250.00 price objective on the stock. Zacks Research upgraded Sandisk from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 13th. Evercore reaffirmed an “outperform” rating and issued a $3,100.00 target price (up from $1,400.00) on shares of Sandisk in a research report on Thursday, August 13th. Wells Fargo & Company boosted their price target on shares of Sandisk from $1,400.00 to $1,550.00 and gave the stock an “equal weight” rating in a research note on Thursday, August 13th. Finally, Rosenblatt Securities began coverage on shares of Sandisk in a research report on Tuesday, September 22nd. They set a “buy” rating and a $2,400.00 price target on the stock. Three analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $2,093.73.

Sandisk Stock Performance

The stock has a market capitalization of $203.03 billion, a price-to-earnings ratio of 19.27, a PEG ratio of 0.12 and a beta of 5.23. The company has a 50 day moving average of $1,576.10 and a 200 day moving average of $1,236.92.

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

Sandisk declared that its Board of Directors has approved a share buyback program on Wednesday, August 5th that authorizes the company to repurchase $14 billion in shares. This buyback authorization authorizes the data storage provider to reacquire up to 6.6% of its shares through open market purchases. Share buyback programs are generally an indication that the company’s board believes its shares are undervalued.

Insider Activity

In other Sandisk news, CFO Luis Visoso sold 1,000 shares of the stock in a transaction that occurred on Tuesday, September 15th. The shares were sold at an average price of $1,568.83, for a total value of $1,568,830.00. Following the sale, the chief financial officer directly owned 130,976 shares of the company’s stock, valued at approximately $205,479,078.08. This represents a 0.76% decrease in their position. The sale was disclosed in a document filed 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 4,712 shares of the stock in a transaction that occurred on Thursday, September 3rd. The shares were sold at an average price of $1,540.58, for a total transaction of $7,259,212.96. Following the completion of the sale, the executive vice president directly owned 44,134 shares in the company, valued at approximately $67,991,957.72. This represents a 9.65% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 77,899 shares of company stock valued at $121,159,122 over the last three months. 0.29% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Sandisk

Several institutional investors have recently modified their holdings of the company. Handelsbanken Fonder AB grew its holdings in shares of Sandisk by 35.1% during the second quarter. Handelsbanken Fonder AB now owns 57,564 shares of the data storage provider’s stock worth $130,885,000 after buying an additional 14,964 shares in the last quarter. Focus Partners Advisor Solutions LLC purchased a new position in shares of Sandisk during the second quarter valued at approximately $4,775,000. Florida Financial Advisors LLC purchased a new position in shares of Sandisk during the first quarter valued at approximately $2,747,000. UNICOM Systems Inc. lifted its stake in shares of Sandisk by 14.9% during the second quarter. UNICOM Systems Inc. now owns 58,500 shares of the data storage provider’s stock valued at $133,013,000 after buying an additional 7,600 shares during the period. Finally, Affinity Capital Advisors LLC acquired a new stake in Sandisk during the second quarter worth approximately $2,506,000.

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.