Shares of Sandisk Corporation (NASDAQ:SNDK – Get Free Report) have been assigned a consensus rating of “Moderate Buy” from the twenty-six analysts that are covering the firm, Marketbeat.com reports. Five analysts have rated the stock with a hold recommendation, eighteen have issued a buy recommendation and three have given a strong buy recommendation to the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $1,811.3810.
Several equities research analysts recently commented on SNDK shares. Arete Research raised Sandisk from a “hold” rating to a “strong-buy” rating in a report on Monday, April 13th. Sanford C. Bernstein boosted their price target on shares of Sandisk from $1,700.00 to $3,000.00 and gave the company an “outperform” rating in a research report on Monday, June 29th. Citigroup upped their price objective on shares of Sandisk from $2,025.00 to $2,500.00 and gave the company a “buy” rating in a report on Thursday, June 25th. Morgan Stanley raised their price objective on shares of Sandisk from $1,100.00 to $1,750.00 and gave the stock an “overweight” rating in a research report on Wednesday, June 3rd. Finally, Wedbush lifted their target price on shares of Sandisk from $1,200.00 to $2,000.00 and gave the stock an “outperform” rating in a research note on Thursday, July 9th.
Read Our Latest Stock Analysis on SNDK
More Sandisk News
- Positive Sentiment: Analysts argue that the recent correction—estimated at roughly 32% to 41% over the past month, depending on the measurement period—has made Sandisk’s valuation more attractive. One Seeking Alpha contributor upgraded the stock to Buy, while another cited strong expected earnings growth and a low forward earnings multiple as reasons to consider the shares. Sandisk: Buy The Fear Ahead Of Earnings Sandisk: Looking Like A Buy Ahead Of Earnings
- Positive Sentiment: Investor optimism is supported by AI-driven enterprise SSD demand, firmer NAND pricing and increasing adoption of TLC and QLC flash memory. These trends could support revenue and margins if sustained in the upcoming results. Buy Sandisk Stock Before Q4 Earnings
- Positive Sentiment: Morgan Stanley’s upgrade of Korean equities to Overweight, following a leverage-driven market selloff, is adding support to memory stocks including Sandisk, Micron and SK Hynix by suggesting forced selling may be easing. Morgan Stanley’s Korea Call
Insider Activity
In other news, 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Necip Sayiner sold 579 shares of Sandisk stock in a transaction on Friday, May 8th. The shares were sold at an average price of $1,503.11, for a total value of $870,300.69. Following the completion of the sale, the director owned 2,900 shares in the company, valued at $4,359,019. This represents a 16.64% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 6,225 shares of company stock worth $10,166,297 over the last quarter. 0.21% of the stock is currently owned by corporate insiders.
Hedge Funds Weigh In On Sandisk
A number of hedge funds have recently made changes to their positions in the stock. Valley Wealth Managers Inc. purchased a new stake in shares of Sandisk in the 1st quarter valued at $25,000. Whittier Trust Co. acquired a new position in Sandisk in the 4th quarter valued at about $26,000. Greenline Wealth Management LLC acquired a new position in Sandisk in the 4th quarter valued at about $26,000. Chung Wu Investment Group LLC purchased a new stake in Sandisk during the fourth quarter worth about $27,000. Finally, IMG Wealth Management Inc. purchased a new stake in Sandisk during the first quarter worth about $29,000.
Sandisk Trading Up 6.0%
SNDK stock opened at $1,288.03 on Tuesday. The firm has a 50-day moving average of $1,725.33 and a two-hundred day moving average of $1,128.02. Sandisk has a 12 month low of $40.53 and a 12 month high of $2,354.39. The company has a market cap of $190.74 billion, a price-to-earnings ratio of 44.77 and a beta of 5.21.
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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