Sandisk (NASDAQ:SNDK) Trading Up 8.9% – Time to Buy?

Sandisk Corporation (NASDAQ:SNDK) was up 8.9% on Monday . The stock traded as high as $223.16 and last traded at $218.00. Approximately 3,671,501 shares changed hands during mid-day trading, a decline of 31% from the average daily volume of 5,289,228 shares. The stock had previously closed at $200.27.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on SNDK. Weiss Ratings reissued a “sell (d+)” rating on shares of Sandisk in a research note on Monday, November 17th. Fox Advisors raised shares of Sandisk from a “hold” rating to a “strong-buy” rating in a research report on Friday, November 7th. Benchmark upped their price objective on shares of Sandisk from $125.00 to $260.00 and gave the stock a “buy” rating in a report on Friday, November 7th. Cantor Fitzgerald lifted their target price on shares of Sandisk from $240.00 to $300.00 and gave the company an “overweight” rating in a research note on Friday, November 7th. Finally, Barclays raised their price objective on shares of Sandisk from $39.00 to $220.00 and gave the stock an “equal weight” rating in a report on Monday, November 10th. Three investment analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Sandisk currently has an average rating of “Moderate Buy” and a consensus price target of $193.88.

Sandisk Stock Up 12.1%

The company has a debt-to-equity ratio of 0.14, a quick ratio of 2.03 and a current ratio of 3.29. The stock’s 50-day moving average price is $162.99 and its two-hundred day moving average price is $86.66. The stock has a market capitalization of $32.91 billion and a PE ratio of 701.78.

Sandisk (NASDAQ:SNDK) last announced its quarterly earnings data on Thursday, November 6th. The data storage provider reported $1.22 earnings per share for the quarter, topping analysts’ consensus estimates of $0.58 by $0.64. The business had revenue of $2.31 billion during the quarter, compared to analysts’ expectations of $2.12 billion. The business’s revenue was up 22.6% compared to the same quarter last year. Sandisk has set its Q2 2026 guidance at 3.000-3.40 EPS.

Institutional Trading of Sandisk

Several large investors have recently modified their holdings of the company. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new position in Sandisk during the third quarter valued at approximately $27,000. CVA Family Office LLC purchased a new stake in Sandisk during the third quarter valued at approximately $28,000. Parallel Advisors LLC bought a new stake in shares of Sandisk in the 3rd quarter valued at approximately $30,000. Northwestern Mutual Wealth Management Co. purchased a new position in Sandisk during the third quarter worth $32,000. Finally, Covestor Ltd purchased a new position in shares of Sandisk during the 3rd quarter worth about $37,000.

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.