Sandisk Corporation (NASDAQ:SNDK – Get Free Report) dropped 2.5% during mid-day trading on Tuesday . The stock traded as low as $1,686.16 and last traded at $1,716.9480. Approximately 9,638,384 shares were traded during mid-day trading, a decline of 28% from the average daily volume of 13,438,613 shares. The stock had previously closed at $1,761.43.
Sandisk News Summary
Here are the key news stories impacting Sandisk this week:
- Positive Sentiment: Several recent articles highlight Sandisk as a key beneficiary of the AI data center buildout and broader storage-device industry momentum, which is helping fuel optimism around future revenue and pricing power. Why Sandisk Corporation Is My Favorite Stock Idea Right Now
- Positive Sentiment: Analysts and market commentary say AI-driven memory shortages and tight supply conditions could last through 2028, supporting higher memory prices and continued upside for SNDK and peers like Micron. 2 AI Memory Stocks Outperforming NVIDIA With Big Upside Ahead
- Positive Sentiment: Multiple pieces note that Sandisk has seen strong momentum, with analysts still seeing more upside even after a historic run, reinforcing the bullish sentiment around the stock. After SanDisk’s Historic Run, Analysts Still See More Upside
- Positive Sentiment: Broker and market-watch coverage mentions a sharply higher price target from Mizuho and other bullish takes, which is likely adding to buying interest in SNDK. 5-star analyst Mizuho sets jaw-dropping SanDisk stock price target
Analyst Ratings Changes
A number of analysts have weighed in on SNDK shares. Citigroup raised their price target on Sandisk from $1,300.00 to $2,025.00 and gave the company a “buy” rating in a research note on Tuesday, May 19th. Wells Fargo & Company raised their price target on Sandisk from $975.00 to $1,250.00 and gave the company an “equal weight” rating in a research note on Friday, May 1st. Bank of America raised their price target on Sandisk from $900.00 to $1,080.00 and gave the company a “buy” rating in a research note on Friday, April 17th. UBS Group set a $1,700.00 price target on Sandisk in a research note on Monday, May 4th. Finally, Cantor Fitzgerald raised their price target on Sandisk from $1,400.00 to $1,800.00 and gave the company an “overweight” rating in a research note on Friday, May 1st. Three equities research analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $1,368.73.
Sandisk Stock Down 2.5%
The stock has a fifty day moving average of $1,093.12 and a 200-day moving average of $657.86. The stock has a market cap of $254.26 billion, a PE ratio of 59.68 and a beta of 4.88.
Sandisk (NASDAQ:SNDK – Get Free Report) last released its quarterly earnings results on Thursday, April 30th. The data storage provider reported $23.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $14.17 by $9.24. Sandisk had a return on equity of 44.06% and a net margin of 34.19%.The firm had revenue of $5.95 billion for the quarter. During the same period in the prior year, the business earned ($0.30) EPS. The business’s quarterly revenue was up 251.0% compared to the same quarter last year. Sandisk has set its Q4 2026 guidance at 30.000-33.000 EPS. Equities research analysts forecast that Sandisk Corporation will post 63.58 earnings per share for the current fiscal year.
Insider Buying and Selling
In other Sandisk news, Director Necip Sayiner sold 579 shares of Sandisk stock in a transaction that occurred on Friday, May 8th. The stock was 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Michael Pokorny sold 2,446 shares of Sandisk stock in a transaction that occurred on Tuesday, May 12th. The shares were sold at an average price of $1,426.18, for a total transaction of $3,488,436.28. Following the sale, the chief accounting officer owned 22,375 shares of the company’s stock, valued at approximately $31,910,777.50. The trade was a 9.85% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.21% of the stock is currently owned by insiders.
Institutional Inflows and Outflows
Several institutional investors have recently modified their holdings of the stock. Keel Point LLC acquired a new position in shares of Sandisk during the 1st quarter worth approximately $314,000. Glenmede Trust Co. NA raised its position in shares of Sandisk by 76.4% during the 1st quarter. Glenmede Trust Co. NA now owns 2,754 shares of the data storage provider’s stock worth $1,750,000 after purchasing an additional 1,193 shares during the last quarter. Liontrust Investment Partners LLP acquired a new position in shares of Sandisk during the 1st quarter worth approximately $11,892,000. January Capital Advisors LLC acquired a new position in shares of Sandisk during the 1st quarter worth approximately $565,000. Finally, SOA Wealth Advisors LLC. raised its position in shares of Sandisk by 108.0% during the 1st quarter. SOA Wealth Advisors LLC. now owns 52 shares of the data storage provider’s stock worth $33,000 after purchasing an additional 27 shares during the last quarter.
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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