Sandisk (NASDAQ:SNDK) Shares Down 10.6% Following Analyst Downgrade

Posted by George Bondi on Jul 3rd, 2026

Shares of Sandisk Corporation (NASDAQ:SNDK – Get Free Report) were down 10.6% during mid-day trading on Wednesday after Zacks Research downgraded the stock from a strong-buy rating to a hold rating. The company traded as low as $2,002.05 and last traded at $2,032.22. 10,857,175 shares were traded during trading, a decline of 35% from the average session volume of 16,632,295 shares. The stock had previously closed at $2,273.73.

A number of other research analysts also recently weighed in on SNDK. Sanford C. Bernstein raised their price target on shares of Sandisk from $1,700.00 to $3,000.00 and gave the company an “outperform” rating in a report on Monday. Bank of America increased their target price on shares of Sandisk from $2,100.00 to $2,500.00 and gave the stock a “buy” rating in a research report on Wednesday. Royal Bank Of Canada raised their target price on Sandisk from $650.00 to $1,000.00 and gave the company a “sector perform” rating in a report on Friday, May 1st. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $1,200.00 price target on shares of Sandisk in a research report on Friday, May 1st. Finally, UBS Group set a $1,700.00 price target on Sandisk in a report on Monday, May 4th. Two investment analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, Sandisk has a consensus rating of “Moderate Buy” and a consensus target price of $1,684.24.

Check Out Our Latest Stock Report on SNDK

Insiders Place Their Bets

In related news, EVP Alper Ilkbahar sold 2,000 shares of the business’s stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $1,756.58, for a total transaction of $3,513,160.00. Following the completion of the transaction, the executive vice president owned 52,677 shares of the company’s stock, valued at approximately $92,531,364.66. The trade was a 3.66% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Bernard Shek sold 600 shares of the stock in a transaction that occurred on Wednesday, July 1st. The shares were sold at an average price of $2,088.00, for a total value of $1,252,800.00. Following the sale, the insider owned 31,515 shares of the company’s stock, valued at approximately $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. Over the last three months, insiders have sold 6,225 shares of company stock valued at $10,166,297. Company insiders own 0.21% of the company’s stock.

Key Headlines Impacting Sandisk

Here are the key news stories impacting Sandisk this week:

Positive Sentiment: Sandisk announced that it has started production of its 10th-generation 3D flash memory with Kioxia at the Kitakami Fab2 site, reinforcing manufacturing scale and supporting future NAND supply as demand for data-center and AI storage stays strong. Article Title
Positive Sentiment: Analysts remained constructive on Sandisk, with China Renaissance raising its price target to $3,169 on strong AI storage demand and Bank of America lifting its target to $2,500, signaling continued confidence in the company’s pricing power and earnings outlook. Article Title
Neutral Sentiment: Commentary this week continued to frame Sandisk as a volatile AI infrastructure winner, with some investors viewing the swings as potential buying opportunities on pullbacks. Article Title
Negative Sentiment: Sandisk has also been hit by a broader selloff in memory and semiconductor shares as traders take profits and rotate away from AI hardware toward software, pressuring the stock despite upbeat long-term fundamentals. Article Title
Negative Sentiment: Heavy selling across memory names also reflected concern about a possible supply glut, adding another near-term headwind for Sandisk and other chip stocks. Article Title
Negative Sentiment: Insider Bernard Shek sold 600 shares under a pre-arranged 10b5-1 plan; while routine, insider selling can still create mild caution among traders. Article Title

Institutional Investors Weigh In On Sandisk

Several hedge funds have recently modified their holdings of SNDK. KERR FINANCIAL PLANNING Corp acquired a new stake in Sandisk during the second quarter worth about $34,000. Valley Wealth Managers Inc. acquired a new position in Sandisk in the 1st quarter valued at approximately $25,000. IMG Wealth Management Inc. acquired a new position in Sandisk in the 1st quarter valued at approximately $29,000. SOA Wealth Advisors LLC. raised its holdings in Sandisk by 108.0% in the 1st quarter. SOA Wealth Advisors LLC. now owns 52 shares of the data storage provider’s stock valued at $33,000 after acquiring an additional 27 shares in the last quarter. Finally, Cedar Mountain Advisors LLC lifted its position in shares of Sandisk by 2,750.0% in the 1st quarter. Cedar Mountain Advisors LLC now owns 57 shares of the data storage provider’s stock worth $36,000 after acquiring an additional 55 shares during the period.

Sandisk Stock Performance

The company has a market cap of $258.42 billion, a P/E ratio of 60.65 and a beta of 4.72. The stock has a 50-day simple moving average of $1,634.90 and a 200 day simple moving average of $936.43.

Sandisk (NASDAQ:SNDK – Get Free Report) last released its quarterly earnings data on Thursday, April 30th. The data storage provider reported $23.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $14.17 by $9.24. The business had revenue of $5.95 billion for the quarter. Sandisk had a return on equity of 44.06% and a net margin of 34.19%.The business’s revenue for the quarter was up 251.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.30) earnings per share. Sandisk has set its Q4 2026 guidance at 30.000-33.000 EPS. Sell-side analysts anticipate that Sandisk Corporation will post 64.01 earnings per share for the current fiscal year.

Sandisk Company Profile

(Get Free Report)

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.