Sandisk (NASDAQ:SNDK) Stock Price Down 6.8% – Time to Sell?

Shares of Sandisk Corporation (NASDAQ:SNDK) fell 6.8% on Friday . The company traded as low as $1,503.69 and last traded at $1,501.13. Approximately 2,126,026 shares changed hands during trading, a decline of 87% from the average daily volume of 16,222,853 shares. The stock had previously closed at $1,610.33.

More Sandisk News

Here are the key news stories impacting Sandisk this week:

• Positive Sentiment: Sandisk remains a key AI-memory name with strong revenue momentum, improving margins, and expectations for continued demand tied to AI infrastructure spending.
• Positive Sentiment: Options activity ahead of the August 5 earnings report shows traders expect a big move, reflecting high investor interest and the potential for a catalyst. Article Title
• Neutral Sentiment: Analysts and market commentators continue to debate whether the recent pullback is a healthy reset after a huge rally or the start of a deeper correction.
• Negative Sentiment: Sandisk is under pressure from a broad selloff in memory and chip stocks, with weakness in peers like Micron and SK Hynix weighing on sentiment. Article Title

Wall Street Analyst Weigh In

Several research firms have commented on SNDK. Sanford C. Bernstein upped their price target on Sandisk from $1,700.00 to $3,000.00 and gave the company an “outperform” rating in a report on Monday, June 29th. Melius Research set a $2,350.00 price objective on Sandisk in a report on Monday, May 18th. The Goldman Sachs Group restated a “buy” rating and set a $1,200.00 price objective on shares of Sandisk in a research report on Friday, May 1st. Argus began coverage on shares of Sandisk in a report on Wednesday, July 15th. They issued a “hold” rating on the stock. Finally, Susquehanna dropped their price objective on shares of Sandisk from $3,250.00 to $3,050.00 and set a “positive” rating for the company in a research note on Thursday. Two investment analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $1,811.38.

Sandisk Stock Performance

The firm has a 50 day moving average price of $1,753.46 and a two-hundred day moving average price of $1,084.78. The company has a market capitalization of $221.46 billion, a P/E ratio of 52.54 and a beta of 4.74.

Sandisk (NASDAQ:SNDK) last posted its earnings results 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. The business had revenue of $5.95 billion during the quarter. Sandisk had a return on equity of 44.06% and a net margin of 34.19%.Sandisk’s quarterly revenue was up 251.0% compared to the same quarter last year. During the same quarter last year, the business earned ($0.30) EPS. Sandisk has set its Q4 2026 guidance at 30.000-33.000 EPS. On average, equities analysts expect that Sandisk Corporation will post 64.52 earnings per share for the current year.

Insiders Place Their Bets

In other Sandisk news, EVP Alper Ilkbahar sold 2,000 shares of the firm’s stock in a transaction dated 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 completion of the sale, the executive vice president owned 52,677 shares in the company, valued at approximately $92,531,364.66. This trade represents a 3.66% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Bernard Shek sold 600 shares of the firm’s stock in a transaction dated Wednesday, July 1st. The shares were sold at an average price of $2,088.00, for a total transaction of $1,252,800.00. Following the completion of the sale, the insider owned 31,515 shares of the company’s stock, valued at $65,803,320. The trade was a 1.87% 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. In the last three months, insiders have sold 6,225 shares of company stock valued at $10,166,297. 0.21% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Sandisk

A number of large investors have recently modified their holdings of the stock. Allworth Financial LP grew its position in shares of Sandisk by 84.2% during the 4th quarter. Allworth Financial LP now owns 4,521 shares of the data storage provider’s stock worth $1,073,000 after buying an additional 2,067 shares during the period. Tredje AP fonden acquired a new position in Sandisk in the fourth quarter valued at approximately $7,821,000. ProShare Advisors LLC lifted its holdings in Sandisk by 1,301.5% in the fourth quarter. ProShare Advisors LLC now owns 33,637 shares of the data storage provider’s stock valued at $7,985,000 after buying an additional 31,237 shares during the period. FourThought Financial Partners LLC bought a new position in Sandisk in the fourth quarter valued at approximately $422,000. Finally, North Dakota State Investment Board bought a new position in Sandisk in the fourth quarter valued at approximately $1,127,000.

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.