Sandisk (NASDAQ:SNDK) Stock Falls 3% – Should You Sell?

Sandisk Corporation (NASDAQ:SNDK) dropped 3% on Tuesday. The company traded as low as $826.67 and last traded at $859.99. Approximately 13,004,252 shares traded hands during mid-day trading, a decline of 12% from the average session volume of 14,802,455 shares. The stock had previously closed at $886.51.

Recent Sandisk Headlines

Investors following SNDK have been watching these headlines:

• Positive Sentiment: Recent strength in AI-related stocks and CoreWeave’s higher 2026 capital-spending outlook supported optimism about data-center demand for memory and storage. This is an industry demand signal, not a reported Sandisk order. SanDisk stock jumps as CoreWeave raises spending outlook
• Neutral Sentiment: Sandisk’s planned 8-for-1 stock split changes the number of shares and per-share price, but not the underlying value of an investor’s stake. Will SanDisk’s planned stock split reverse its share decline?
• Negative Sentiment: Broader concerns about industry-wide memory dynamics, competition, and how sustainable elevated earnings and memory prices will be continue to weigh on sentiment. Sandisk dropped, so what is behind its latest move?

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on SNDK shares. Bank of America restated a “buy” rating and issued a $2,000.00 price target on shares of Sandisk in a research report on Friday, October 30th. Sanford C. Bernstein reiterated an “outperform” rating and set a $3,000.00 price objective (up from $1,700.00) on shares of Sandisk in a research note on Thursday, August 6th. Mizuho lifted their target price on Sandisk from $1,875.00 to $2,050.00 and gave the company an “outperform” rating in a research note on Tuesday, October 6th. Fox Advisors lowered Sandisk from an “overweight” rating to an “equal weight” rating in a report on Monday, November 2nd. Finally, Royal Bank Of Canada dropped their price target on Sandisk from $1,600.00 to $1,400.00 and set a “sector perform” rating on the stock in a research report on Friday, October 30th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat.com, Sandisk has a consensus rating of “Moderate Buy” and a consensus target price of $2,056.23.

Sandisk Stock Down 4.1%

The firm’s 50 day simple moving average is $1,467.15 and its 200 day simple moving average is $1,271.20. The company has a market cap of $133.39 billion, a price-to-earnings ratio of 7.51, a price-to-earnings-growth ratio of 0.07 and a beta of 5.66.

Sandisk’s stock is going to split before the market opens on Friday, November 20th. The 8-1 split was announced on Thursday, October 29th. The newly minted shares will be distributed to shareholders after the closing bell on Thursday, November 19th.

Sandisk (NASDAQ:SNDK) last posted its earnings results on Thursday, October 29th. The data storage provider reported $49.51 EPS for the quarter, beating the consensus estimate of $46.19 by $3.32. The firm had revenue of $11.03 billion for the quarter. Sandisk had a return on equity of 125.70% and a net margin of 67.04%. The firm’s revenue was up 23.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.22 earnings per share. Analysts anticipate that Sandisk Corporation will post 226.01 EPS for the current fiscal year.

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

Insiders Place Their Bets

In related news, EVP Alper Ilkbahar sold 4,712 shares of Sandisk stock in a transaction dated 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 sale, the executive vice president directly owned 44,134 shares in the company, valued at $67,991,957.72. The trade was a 9.65% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Luis Visoso sold 1,000 shares of the company’s stock in a transaction dated Tuesday, September 15th. The stock was sold at an average price of $1,568.83, for a total transaction of $1,568,830.00. Following the completion of the sale, the chief financial officer directly owned 130,976 shares of the company’s stock, valued at $205,479,078.08. The trade was a 0.76% 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. Insiders sold a total of 77,899 shares of company stock valued at $121,156,782 over the last three months. 0.29% of the stock is currently owned by company insiders.

Institutional Trading of Sandisk

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Meeder Advisory Services Inc. lifted its position in shares of Sandisk by 48.9% in the third quarter. Meeder Advisory Services Inc. now owns 2,427 shares of the data storage provider’s stock worth $4,223,000 after purchasing an additional 797 shares in the last quarter. CacheTech Inc. increased its stake in shares of Sandisk by 17.3% in the third quarter. CacheTech Inc. now owns 1,805 shares of the data storage provider’s stock worth $3,141,000 after acquiring an additional 266 shares during the last quarter. Winslow Capital Management LLC increased its stake in shares of Sandisk by 5.4% in the third quarter. Winslow Capital Management LLC now owns 136,843 shares of the data storage provider’s stock worth $238,092,000 after acquiring an additional 6,967 shares during the last quarter. First Trust Advisors LP increased its stake in shares of Sandisk by 1.0% in the third quarter. First Trust Advisors LP now owns 183,805 shares of the data storage provider’s stock worth $319,800,000 after acquiring an additional 1,800 shares during the last quarter. Finally, Hexagon Capital Partners LLC raised its holdings in shares of Sandisk by 16.7% during the third quarter. Hexagon Capital Partners LLC now owns 307 shares of the data storage provider’s stock worth $534,000 after acquiring an additional 44 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.