Sandisk (NASDAQ:SNDK) Downgraded by Zacks Research to Hold

Zacks Research downgraded shares of Sandisk (NASDAQ:SNDK) from a strong-buy rating to a hold rating in a research report sent to investors on Wednesday morning,Zacks.com reports.

Other equities analysts have also recently issued research reports about the stock. Raymond James Financial reissued an “outperform” rating and set a $1,470.00 target price on shares of Sandisk in a research report on Friday, May 1st. Morgan Stanley increased their price target on Sandisk from $1,100.00 to $1,750.00 and gave the company an “overweight” rating in a research report on Wednesday, June 3rd. Wedbush lifted their price target on Sandisk from $740.00 to $1,200.00 and gave the stock an “outperform” rating in a report on Wednesday, April 29th. Mizuho boosted their price objective on Sandisk from $1,825.00 to $2,200.00 and gave the stock an “outperform” rating in a research report on Monday, June 8th. Finally, Arete Research upgraded Sandisk from a “hold” rating to a “strong-buy” rating in a research note on Monday, April 13th. Two analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat.com, Sandisk has an average rating of “Moderate Buy” and an average price target of $1,684.24.

Sandisk Price Performance

Shares of SNDK stock opened at $1,745.00 on Wednesday. The firm has a 50-day moving average of $1,634.90 and a 200-day moving average of $936.43. Sandisk has a one year low of $40.10 and a one year high of $2,354.39. The company has a market cap of $258.42 billion, a P/E ratio of 60.65 and a beta of 4.72.

Sandisk (NASDAQ:SNDK) last released its quarterly earnings results on Thursday, April 30th. The data storage provider reported $23.41 earnings per share for the quarter, topping the consensus estimate of $14.17 by $9.24. Sandisk had a net margin of 34.19% and a return on equity of 44.06%. The business had revenue of $5.95 billion for the quarter. During the same quarter last year, the firm posted ($0.30) earnings per share. The firm’s revenue for the quarter was up 251.0% compared to the same quarter last year. Sandisk has set its Q4 2026 guidance at 30.000-33.000 EPS. As a group, research analysts expect that Sandisk will post 64.01 earnings per share for the current fiscal year.

Insider Activity at Sandisk

In related news, Director Necip Sayiner sold 579 shares of Sandisk stock in a transaction that occurred on Friday, May 8th. The shares were sold at an average price of $1,503.11, for a total value of $870,300.69. Following the sale, the director owned 2,900 shares of the company’s stock, valued at approximately $4,359,019. The trade was a 16.64% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Alper Ilkbahar sold 2,000 shares of Sandisk stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $1,756.58, for a total transaction of $3,513,160.00. Following the completion of the sale, the executive vice president directly owned 52,677 shares in the company, valued at $92,531,364.66. This trade represents a 3.66% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 6,225 shares of company stock valued at $10,166,297 in the last three months. Insiders own 0.21% of the company’s stock.

Hedge Funds Weigh In On Sandisk

Several institutional investors and hedge funds have recently bought and sold shares of the company. Versant Capital Management Inc increased its position in Sandisk by 2.5% in the second quarter. Versant Capital Management Inc now owns 527 shares of the data storage provider’s stock worth $1,198,000 after buying an additional 13 shares during the last quarter. KERR FINANCIAL PLANNING Corp purchased a new position in shares of Sandisk during the 2nd quarter valued at $34,000. Hilltop National Bank bought a new position in shares of Sandisk during the 2nd quarter worth $205,000. First Financial Bank Trust Division bought a new position in shares of Sandisk during the 2nd quarter worth $546,000. Finally, Basecamp Wealth Advisors LLC increased its holdings in Sandisk by 7.8% in the 1st quarter. Basecamp Wealth Advisors LLC now owns 333 shares of the data storage provider’s stock worth $212,000 after acquiring an additional 24 shares during the last quarter.

Key Stories Impacting Sandisk

Here are the key news stories impacting Sandisk this week:

• Positive Sentiment: Sandisk announced sampling of its BiCS10 1Tb TLC 3D NAND flash memory, highlighting higher density, better power efficiency, and faster interface speeds for data-intensive workloads. Article Title
• Positive Sentiment: China Renaissance raised its price target on Sandisk to $3,169, citing strong AI storage demand, while Bank of America also lifted its target to $2,500 and reiterated a buy rating. Article Title
• Neutral Sentiment: Market commentary continued to frame Sandisk as a high-volatility AI infrastructure winner, with some analysts arguing that recent swings may be creating buying opportunities on dips. Article Title
• Negative Sentiment: Investor rotation away from AI chip and memory hardware names has hit Sandisk, with traders shifting toward AI software and raising concerns about a temporary memory-sector pullback. Article Title
• Negative Sentiment: Heavy profit-taking and broader supply-glut fears in memory stocks also weighed on Sandisk, adding to the sector-wide decline despite the company’s strong fundamentals. Article Title
• Negative Sentiment: Insider Bernard Shek sold 600 shares under a pre-arranged 10b5-1 plan, which may add a little caution even though the sale was disclosed as routine. Article Title

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.