Sandisk (NASDAQ:SNDK) Shares Up 3.1% – Here’s What Happened

Sandisk Corporation (NASDAQ:SNDK) shares rose 3.1% on Thursday . The stock traded as high as $929.50 and last traded at $919.47. Approximately 13,715,977 shares were traded during trading, a decline of 28% from the average daily volume of 19,144,018 shares. The stock had previously closed at $891.72.

Sandisk News Summary

Here are the key news stories impacting Sandisk this week:

• Positive Sentiment: Evercore initiated coverage with an Outperform and a $1,200 price target — a high‑profile initiation that lifts investor confidence and helped trigger recent buying. Evercore initiation
• Positive Sentiment: Jefferies and other brokers raised price targets and published bullish notes, reinforcing the analyst upgrade momentum behind SNDK. Jefferies raises PT
• Positive Sentiment: Nasdaq‑100 inclusion is imminent — passive funds tracking the index must buy SNDK shares, a mechanical demand boost that supports higher prices. Nasdaq‑100 inclusion
• Positive Sentiment: Coverage pieces and comparisons to peers highlight AI‑driven NAND and enterprise SSD demand (better margins and secular tailwinds), supporting a constructive medium‑term thesis. Zacks AI infrastructure piece
• Neutral Sentiment: Very bullish research notes (including an Evercore bull case discussed publicly) project outsized upside scenarios — useful for conviction but based on optimistic assumptions about sustained AI demand. Evercore bull case coverage
• Neutral Sentiment: Media coverage highlights SNDK’s dramatic 12‑month gains and retail interest; that can attract momentum flows but also raises volatility risk. Blockonomi surge coverage
• Negative Sentiment: Short‑term profit‑taking rippled through the memory sector recently, driving pullbacks in SNDK — a reminder that rapid gains can trigger intermittent selling even amid a bullish trend. Profit‑taking note

Wall Street Analyst Weigh In

SNDK has been the subject of several recent analyst reports. The Goldman Sachs Group upped their price objective on shares of Sandisk from $320.00 to $700.00 and gave the stock a “buy” rating in a research report on Friday, January 30th. Evercore assumed coverage on shares of Sandisk in a report on Monday. They issued an “outperform” rating and a $1,200.00 target price for the company. Wells Fargo & Company increased their target price on shares of Sandisk from $230.00 to $380.00 and gave the stock an “equal weight” rating in a report on Thursday, January 15th. Sanford C. Bernstein set a $1,250.00 target price on shares of Sandisk and gave the stock an “outperform” rating in a report on Thursday, April 9th. Finally, Barclays increased their target price on shares of Sandisk from $385.00 to $750.00 and gave the stock an “equal weight” rating in a report on Monday, February 2nd. Three equities research analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Sandisk has a consensus rating of “Moderate Buy” and a consensus price target of $684.50.

Sandisk Price Performance

The company has a 50 day moving average price of $669.21 and a 200-day moving average price of $405.82. The company has a quick ratio of 1.92, a current ratio of 3.11 and a debt-to-equity ratio of 0.06. The company has a market cap of $135.71 billion, a price-to-earnings ratio of -121.14 and a beta of 5.04.

Sandisk (NASDAQ:SNDK) last released its quarterly earnings data on Thursday, January 29th. The data storage provider reported $6.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.31 by $2.89. Sandisk had a positive return on equity of 10.11% and a negative net margin of 11.66%.The company had revenue of $3.03 billion during the quarter, compared to the consensus estimate of $2.67 billion. The company’s quarterly revenue was up 61.2% compared to the same quarter last year.

Insider Activity

In other news, Director Miyuki Suzuki sold 3,500 shares of the company’s stock in a transaction that occurred on Wednesday, February 25th. The stock was sold at an average price of $627.53, for a total value of $2,196,355.00. Following the completion of the transaction, the director owned 9,907 shares of the company’s stock, valued at $6,216,939.71. This represents a 26.11% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 0.21% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. acquired a new position in shares of Sandisk in the third quarter valued at approximately $1,970,388,000. State Street Corp increased its stake in shares of Sandisk by 20.7% in the fourth quarter. State Street Corp now owns 5,281,522 shares of the data storage provider’s stock valued at $1,253,728,000 after buying an additional 904,933 shares during the period. Geode Capital Management LLC increased its stake in shares of Sandisk by 44.9% in the fourth quarter. Geode Capital Management LLC now owns 3,655,860 shares of the data storage provider’s stock valued at $866,310,000 after buying an additional 1,133,276 shares during the period. Arrowstreet Capital Limited Partnership increased its stake in shares of Sandisk by 31.3% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 3,478,002 shares of the data storage provider’s stock valued at $825,608,000 after buying an additional 828,332 shares during the period. Finally, Morgan Stanley increased its stake in shares of Sandisk by 7.2% in the fourth quarter. Morgan Stanley now owns 2,970,361 shares of the data storage provider’s stock valued at $705,105,000 after buying an additional 199,545 shares during the period.

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.