Sandisk Corporation (NASDAQ:SNDK – Get Free Report) shot up 14.5% during mid-day trading on Thursday . The stock traded as high as $1,895.00 and last traded at $1,881.51. 13,396,462 shares changed hands during trading, a decline of 22% from the average session volume of 17,218,320 shares. The stock had previously closed at $1,643.23.
Trending Headlines about Sandisk
Here are the key news stories impacting Sandisk this week:
- Positive Sentiment: Bank of America raised its price target on Sandisk to $2,100 and kept a Buy rating, signaling confidence that the AI memory demand trend still has room to run. SanDisk Stock’s 5,000% Rally Hasn’t Stopped This Analyst: Is $2,100 Next?
- Positive Sentiment: Another analyst update also boosted sentiment, with BofA’s Wamsi Mohan reportedly lifting his target to $2,100 on the view that Sandisk remains well positioned in the memory market. This Analyst Just Upped the Price Target on SanDisk Stock. Here’s Why.
- Positive Sentiment: Shares also rose on a broader rebound in memory stocks after SK Hynix’s capacity plan lifted optimism around supply-demand balance in the sector. SanDisk Jumps 14%, Western Digital Climbs 6% as Memory Stocks Rebound on SK Hynix’s Capacity Plan
- Positive Sentiment: Market commentary continues to frame SNDK as an AI growth winner, with traders and analysts highlighting strong memory demand and expanding AI infrastructure exposure. SanDisk Stock (SNDK) Is Up 692% YTD. AI Analyst Raises Price Target and Still Sees More Upside Ahead
- Neutral Sentiment: Some media coverage is focused mainly on the stock’s extraordinary year-to-date surge and valuation, which may keep investor attention high but does not add a new operational catalyst. SanDisk skyrockets over 692% YTD, yet SNDK stock still appears reasonably valued
Wall Street Analysts Forecast Growth
A number of analysts have recently weighed in on the company. Melius Research set a $2,350.00 price objective on Sandisk in a research report on Monday, May 18th. The Goldman Sachs Group reissued a “buy” rating and issued a $1,200.00 price objective on shares of Sandisk in a research report on Friday, May 1st. Zacks Research raised Sandisk from a “hold” rating to a “strong-buy” rating in a research report on Friday, February 20th. Weiss Ratings cut Sandisk from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Wednesday, June 3rd. Finally, Evercore reissued an “outperform” rating and issued a $1,400.00 price objective on shares of Sandisk in a research report on Friday, May 1st. Three analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, Sandisk presently has a consensus rating of “Moderate Buy” and an average price target of $1,580.67.
Sandisk Trading Up 5.2%
The stock has a 50-day simple moving average of $1,288.10 and a 200 day simple moving average of $749.25. The company has a market cap of $293.23 billion, a price-to-earnings ratio of 68.83 and a beta of 4.87.
Sandisk (NASDAQ:SNDK – Get Free Report) last issued its quarterly earnings results on Thursday, April 30th. The data storage provider reported $23.41 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 company had revenue of $5.95 billion during the quarter. During the same period in the prior year, the firm posted ($0.30) EPS. The business’s 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. As a group, research analysts forecast that Sandisk Corporation will post 64.01 EPS for the current fiscal year.
Insider Transactions at Sandisk
In other Sandisk news, Director Necip Sayiner sold 579 shares of Sandisk stock in a transaction dated Friday, May 8th. The stock was sold at an average price of $1,503.11, for a total transaction of $870,300.69. Following the completion of 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 legal filing with the SEC, which can be accessed through this link. Also, CAO Michael Pokorny sold 2,446 shares of Sandisk stock in a transaction dated Tuesday, May 12th. The stock was sold at an average price of $1,426.18, for a total value of $3,488,436.28. Following the sale, the chief accounting officer directly owned 22,375 shares of the company’s stock, valued at approximately $31,910,777.50. This represents a 9.85% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 5,625 shares of company stock worth $8,913,497. 0.21% of the stock is owned by insiders.
Institutional Trading of Sandisk
A number of institutional investors and hedge funds have recently added to or reduced their stakes in SNDK. Allworth Financial LP lifted its holdings in shares of Sandisk by 84.2% in the 4th 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 period. Tredje AP fonden acquired a new position in shares of Sandisk in the 4th quarter valued at about $7,821,000. ProShare Advisors LLC lifted its holdings in shares of Sandisk by 1,301.5% in the 4th 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 acquired a new position in shares of Sandisk in the 4th quarter valued at about $422,000. Finally, North Dakota State Investment Board acquired a new position in shares of Sandisk in the 4th quarter valued at about $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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