Sandisk (NASDAQ:SNDK) Shares Climb 3.9% – Time to Buy?

Sandisk Corporation (NASDAQ:SNDK) shares rose 3.9% on Tuesday. The stock traded as high as $1,315.98 and last traded at $1,304.84. 6,901,586 shares changed hands during trading, a decline of 53% from the average daily volume of 14,835,485 shares. The stock had previously closed at $1,255.58.

Sandisk News Summary

Here are the key news stories impacting Sandisk this week:

• Positive Sentiment: AI infrastructure demand remains a major growth driver. Sandisk’s data-center revenue is benefiting from rising enterprise SSD demand, higher NAND pricing and expanding edge-storage needs, while long-term customer agreements reportedly total $91.1 billion. Will Data Center Growth Remain Sandisk’s Biggest Opportunity?
• Positive Sentiment: Analysts remain broadly optimistic ahead of the earnings release, with estimates of approximately $46.41 in EPS and $10.7 billion in revenue. Sandisk’s history of earnings beats and favorable NAND-market conditions could support the stock if results and guidance exceed expectations. Sandisk Earnings Are Imminent
• Neutral Sentiment: Sandisk’s fiscal first-quarter 2027 results are due October 29, making the report and forward guidance the immediate catalyst. Options markets imply an unusually large potential move of about 8.09%, highlighting elevated event risk in either direction. Sandisk Last-Minute Q1 Earnings Alert
• Negative Sentiment: Memory stocks reversed part of the prior session’s rally after Alphabet delivered weaker-than-expected results and Samsung Electronics shares fell sharply. The risk-off move pressured Micron, SK Hynix and Sandisk together, despite strong recent industry earnings. Why are Micron, SK Hynix and SanDisk Stocks Falling?
• Negative Sentiment: The stock remains vulnerable to profit-taking and high volatility after a substantial recent run-up and pullback. Investors are also focused on whether long-term contracts can translate into sustainable profitability in the traditionally cyclical NAND market. Sandisk’s Surging Profits Face a Critical Test

Analysts Set New Price Targets

Several research firms have issued reports on SNDK. Susquehanna dropped their target price on 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. Weiss Ratings cut Sandisk from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday, October 14th. Wedbush reaffirmed an “outperform” rating and issued a $2,000.00 target price on shares of Sandisk in a research note on Friday, August 14th. Royal Bank Of Canada increased their price objective on shares of Sandisk from $1,300.00 to $1,600.00 and gave the stock a “sector perform” rating in a report on Friday, August 14th. Finally, Argus raised Sandisk from a “hold” rating to a “buy” rating and set a $1,600.00 price target for the company in a research report on Monday, August 10th. Three investment analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $2,093.73.

Sandisk Price Performance

The business has a fifty day moving average of $1,571.68 and a 200 day moving average of $1,242.27. The stock has a market cap of $191.75 billion, a PE ratio of 18.23, a P/E/G ratio of 0.12 and a beta of 5.23.

Sandisk (NASDAQ:SNDK) last posted its quarterly 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. Sandisk had a net margin of 56.47% and a return on equity of 87.84%. The firm had revenue of $8.96 billion for the quarter. During the same period in the prior year, the company earned $0.29 earnings per share. The company’s revenue was up 371.6% on a year-over-year basis. Sandisk has set its Q1 2027 guidance at 44.000-46.000 EPS. On average, equities research analysts expect that Sandisk Corporation will post 208.94 EPS for the current year.

Sandisk announced that its board has initiated a stock buyback plan on Wednesday, August 5th that permits the company to buy back $14 billion in shares. This buyback authorization permits the data storage provider to reacquire up to 6.6% of its stock through open market purchases. Share buyback plans are often an indication that the company’s board believes its stock is undervalued.

Insider Buying and Selling at Sandisk

In related news, insider Bernard Shek sold 600 shares of the business’s 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 in the company, valued at $44,393,644.72. The trade was a 2.29% decrease in their position. The transaction was disclosed in a document filed with the SEC, 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 company’s stock in a transaction dated Thursday, September 17th. The stock was sold at an average price of $1,574.21, for a total transaction of $53,272,840.61. Following the transaction, the chief executive officer owned 382,865 shares of the company’s stock, valued at $602,709,911.65. This represents a 8.12% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 77,899 shares of company stock worth $121,159,122 in the last ninety days. 0.29% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Sandisk

Several large investors have recently bought and sold shares of SNDK. Handelsbanken Fonder AB increased its position in 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 acquiring an additional 14,964 shares during the period. Focus Partners Advisor Solutions LLC acquired a new position in shares of Sandisk in the 2nd quarter worth approximately $4,775,000. Florida Financial Advisors LLC bought a new stake in shares of Sandisk in the 1st quarter worth about $2,747,000. UNICOM Systems Inc. boosted its position in Sandisk by 14.9% in 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 in the last quarter. Finally, Affinity Capital Advisors LLC bought a new stake in shares of Sandisk during the second quarter worth $2,506,000.

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.