Shares of Sandisk Corporation (NASDAQ:SNDK – Get Free Report) rose 5% during trading on Tuesday . The stock traded as high as $1,812.54 and last traded at $1,757.82. 9,516,761 shares were traded during mid-day trading, a decline of 42% from the average daily volume of 16,381,541 shares. The stock had previously closed at $1,673.97.
Sandisk News Summary
Here are the key news stories impacting Sandisk this week:
- Positive Sentiment: Sandisk launched Fab2 with Kioxia, and BiCS10 sampling has begun, reinforcing execution on next-generation memory technology and supporting the long-term AI storage growth story. Sandisk (SNDK) Launches Fab2 With Kioxia As BiCS10 Sampling Begins
- Positive Sentiment: Wedbush, Bank of America, and Bernstein recently raised price targets, and other coverage notes remain constructive, showing Wall Street still sees meaningful upside despite the recent selloff. Why Is Sandisk Stock Falling on Thursday?
- Positive Sentiment: Analysts continue to highlight strong revenue and margin growth in the memory market, arguing Sandisk is well positioned in the AI memory competition. Which Storage Stock Is Best Positioned to Win the AI Memory War? (SNDK)
- Neutral Sentiment: Argus initiated coverage with a Hold rating, which adds validation but also signals the stock may need either a pullback or faster earnings acceleration before the next leg higher. Analyst Maintains Hold on SanDisk After Post–Spin-Off Rally, Awaiting Pullback or Clear Earnings Acceleration
- Negative Sentiment: The stock is being hit by a broad memory-chip and AI-hardware selloff as traders question how long the AI spending boom can last, leading to profit-taking across the group. Sandisk, UnitedHealth, J.B. Hunt, TSMC, and More Stocks That Explain Today’s Market
- Negative Sentiment: Recent commentary suggests the best part of Sandisk’s rally may be over, reflecting rising caution after the stock’s sharp multi-month advance. Sandisk: The Best Part Of The Rally Could Be Over
Wall Street Analyst Weigh In
Several research analysts recently weighed in on SNDK shares. Zacks Research cut shares of Sandisk from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 1st. The Goldman Sachs Group reiterated a “buy” rating and issued a $1,200.00 price objective on shares of Sandisk in a research note on Friday, May 1st. Weiss Ratings raised shares of Sandisk from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, July 6th. KGI Securities initiated coverage on Sandisk in a research note on Wednesday, March 18th. They issued an “outperform” rating and a $992.00 target price on the stock. Finally, Barclays raised Sandisk from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $1,200.00 to $2,300.00 in a report on Tuesday, May 26th. Two investment analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $1,803.29.
Sandisk Price Performance
The business’s fifty day moving average is $1,748.98 and its 200-day moving average is $1,032.16. The firm has a market cap of $239.17 billion, a PE ratio of 56.13 and a beta of 4.74.
Sandisk (NASDAQ:SNDK – Get Free Report) last announced its quarterly earnings data on Thursday, April 30th. The data storage provider reported $23.41 EPS 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 period in the prior year, the firm posted ($0.30) EPS. The business’s revenue was up 251.0% on a year-over-year basis. Sandisk has set its Q4 2026 guidance at 30.000-33.000 EPS. Analysts forecast that Sandisk Corporation will post 64.95 EPS for the current year.
Insider Activity at Sandisk
In related news, EVP Alper Ilkbahar sold 2,000 shares of Sandisk stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $1,756.58, for a total value of $3,513,160.00. Following the sale, the executive vice president owned 52,677 shares of the company’s stock, valued at approximately $92,531,364.66. The trade was a 3.66% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Necip Sayiner sold 579 shares of the company’s 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 completion of the transaction, the director owned 2,900 shares in the company, valued at approximately $4,359,019. The trade was a 16.64% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 6,225 shares of company stock worth $10,166,297. Company insiders own 0.21% of the company’s stock.
Institutional Inflows and Outflows
A number of institutional investors have recently made changes to their positions in the company. Allworth Financial LP grew its stake in shares of Sandisk by 84.2% during the fourth quarter. Allworth Financial LP now owns 4,521 shares of the data storage provider’s stock valued at $1,073,000 after buying an additional 2,067 shares during the last quarter. Tredje AP fonden bought a new stake in shares of Sandisk in the 4th quarter valued at about $7,821,000. ProShare Advisors LLC boosted its holdings in Sandisk by 1,301.5% during the 4th quarter. ProShare Advisors LLC now owns 33,637 shares of the data storage provider’s stock valued at $7,985,000 after acquiring an additional 31,237 shares during the period. FourThought Financial Partners LLC bought a new position in Sandisk during the 4th quarter worth approximately $422,000. Finally, North Dakota State Investment Board purchased a new position in Sandisk in the 4th quarter worth approximately $1,127,000.
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.
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