Sandisk (NASDAQ:SNDK) Shares Down 22.3% – Here’s What Happened

Sandisk Corporation (NASDAQ:SNDK) shares were down 22.3% during trading on Thursday. The company traded as low as $803.97 and last traded at $806.43. 29,465,930 shares were traded during trading, an increase of 99% from the average session volume of 14,792,248 shares. The stock had previously closed at $1,037.40.

Trending Headlines about Sandisk

Here are the key news stories impacting Sandisk this week:

• Positive Sentiment: SanDisk’s latest quarter beat estimates, with $11.03 billion in revenue and $49.51 in EPS. One analyst commentary also pointed to $88.9 billion in remaining performance obligations and long-term agreements that lock in substantial future NAND volume, supporting revenue visibility. Article: SanDisk: A 35 Percent Stock Decline, But RPO Tells a Different Story
• Neutral Sentiment: SanDisk’s 14-day RSI fell to 26.6, its most oversold reading since April 2025. That signals intense selling and could precede a rebound, but is not by itself evidence that the decline has ended. Article: SanDisk Stock RSI Hits Most Oversold Level Since April 2025
• Negative Sentiment: The main pressure is a broader retreat from AI and memory shares. Investors fear election-driven policy shifts could slow data-center investment and chip demand, extending the memory-sector selloff. Article: SanDisk Leads Memory Stocks Lower: A Look Inside the Rout
• Negative Sentiment: The market’s concerns are weighing on SNDK despite continued company growth: investors are reassessing whether AI infrastructure spending can sustain its current pace and support high expectations for memory demand. Article: Micron, SanDisk, SK Hynix Plunge as Memory Stocks Selloff Intensifies

Analysts Set New Price Targets

A number of research firms recently weighed in on SNDK. Mizuho increased their price objective on shares of Sandisk from $1,875.00 to $2,050.00 and gave the stock an “outperform” rating in a report on Tuesday, October 6th. Rosenblatt Securities reissued a “buy” rating and set a $2,400.00 target price on shares of Sandisk in a research note on Friday, October 30th. Citigroup restated a “buy” rating on shares of Sandisk in a research report on Thursday, October 1st. UBS Group restated an “overweight” rating and issued a $1,750.00 target price on shares of Sandisk in a research report on Friday, August 14th. Finally, Weiss Ratings lowered shares of Sandisk from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday, October 14th. One investment analyst has rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $2,056.23.

Sandisk Trading Down 22.3%

The company’s 50-day moving average price is $1,531.29 and its two-hundred day moving average price is $1,261.10. The company has a market cap of $114.75 billion, a P/E ratio of 6.46, a price-to-earnings-growth ratio of 0.09 and a beta of 5.66.

Shares of Sandisk are set to split on Friday, November 20th. The 8-1 split was announced on Thursday, October 29th. The newly minted shares will be payable to shareholders after the closing bell on Thursday, November 19th.

Sandisk (NASDAQ:SNDK) last posted its quarterly earnings data on Thursday, October 29th. The data storage provider reported $49.51 EPS for the quarter, beating analysts’ consensus estimates of $46.19 by $3.32. The company had revenue of $11.03 billion during the quarter. Sandisk had a net margin of 67.04% and a return on equity of 125.70%. Sandisk’s quarterly revenue was up 23.0% compared to the same quarter last year. During the same period in the prior year, the company posted $1.22 earnings per share. Equities analysts forecast that Sandisk Corporation will post 216.29 earnings per share for the current year.

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

Insider Transactions at Sandisk

In related news, insider Bernard Shek sold 2,308 shares of the stock in a transaction that occurred on Tuesday, September 8th. The stock was sold at an average price of $1,767.33, for a total value of $4,078,997.64. Following the transaction, the insider owned 25,305 shares in the company, valued at approximately $44,722,285.65. This represents a 8.36% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Luis Visoso sold 1,000 shares of the firm’s stock in a transaction on Tuesday, September 15th. The shares were sold at an average price of $1,568.83, for a total transaction of $1,568,830.00. Following the transaction, the chief financial officer owned 130,976 shares in the company, valued at $205,479,078.08. This represents a 0.76% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 77,899 shares of company stock worth $121,156,782. 0.29% of the stock is owned by company insiders.

Institutional Trading of Sandisk

Several hedge funds have recently added to or reduced their stakes in the business. BlackRock Inc. acquired a new stake in Sandisk during the second quarter worth about $23,408,732,000. Situational Awareness LP increased its holdings in Sandisk by 42.4% in the 2nd quarter. Situational Awareness LP now owns 2,495,344 shares of the data storage provider’s stock valued at $5,673,739,000 after buying an additional 743,325 shares during the period. Wellington Management Group LLP increased its holdings in Sandisk by 71.2% in the 2nd quarter. Wellington Management Group LLP now owns 1,066,886 shares of the data storage provider’s stock valued at $2,425,811,000 after buying an additional 443,714 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of Sandisk by 57.4% in the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 726,722 shares of the data storage provider’s stock valued at $1,652,370,000 after buying an additional 264,935 shares in the last quarter. Finally, Bank of New York Mellon Corp acquired a new position in shares of Sandisk in the 2nd quarter valued at $1,621,353,000.

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.