Sandisk (NASDAQ:SNDK) Shares Down 9% – Here’s Why

Posted by Stanley Muller on Aug 20th, 2026

Shares of Sandisk Corporation (NASDAQ:SNDK – Get Free Report) were down 9% during mid-day trading on Tuesday . The stock traded as low as $1,600.20 and last traded at $1,625.78. Approximately 18,296,948 shares traded hands during trading, an increase of 11% from the average daily volume of 16,505,275 shares. The stock had previously closed at $1,786.85.

Sandisk News Summary

Here are the key news stories impacting Sandisk this week:

Positive Sentiment: Sandisk shares showed signs of a technical rebound in premarket trading, with analysts watching the mid-$1,600s as a potential recovery area. Support was identified near $1,485, while $1,696.50 represents a key resistance level. What’s Going On With Sandisk Stock Thursday?
Positive Sentiment: Investors remain encouraged by Sandisk’s AI-storage opportunity. The company is pursuing contract-based sales and believes stronger AI demand could support substantially higher and more predictable margins, including an 80% gross-margin target over the longer term. From Commodity to Cash Machine? Sandisk Targets 80% Margins in AI Storage Boom
Positive Sentiment: Some analysts argue that AI-related customer demand and Sandisk’s positioning in high-value memory products could allow it to capture more of the economics than competing memory suppliers. AI Memory Customer Backing
Neutral Sentiment: Analyst and hedge-fund views are diverging after SNDK’s extraordinary 12-month advance. That disagreement may contribute to elevated volatility as investors reassess valuation and the durability of the rally. SanDisk Is Up 3,911% Over Twelve Months
Negative Sentiment: Recent reports emphasize that roughly two-thirds of Sandisk’s record revenue growth came from pricing. Investors are questioning whether such pricing power can persist, particularly as NAND remains a historically cyclical commodity business. SanDisk drops before OCP Korea Tech Day
Negative Sentiment: Memory stocks have recently sold off amid higher Treasury yields, broader weakness in Asian technology shares, and investor rotation away from extended AI hardware trades. The pressure on peers Micron and SK Hynix has added to SNDK’s weakness. Higher Rates Test the Memory Boom
Negative Sentiment: Appaloosa, led by David Tepper, disclosed that it exited its entire 281,250-share Sandisk position during the quarter in which the stock reached its recent peak. While not necessarily a company-specific signal, the sale reinforces profit-taking concerns after the parabolic advance. David Tepper Sold His Entire Sandisk Stake

Wall Street Analyst Weigh In

Several research firms recently commented on SNDK. Melius Research set a $2,350.00 price objective on shares of Sandisk in a research report on Monday, May 18th. Evercore reissued an “outperform” rating on shares of Sandisk in a research note on Thursday, August 13th. Barclays upgraded Sandisk from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $1,200.00 to $2,300.00 in a report on Tuesday, May 26th. Argus raised Sandisk from a “hold” rating to a “buy” rating in a research report on Monday, August 10th. Finally, Sanford C. Bernstein reaffirmed an “outperform” rating on shares of Sandisk in a research report on Thursday, August 6th. Three research analysts have rated the stock with a Strong Buy rating, twenty have issued a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $1,999.27.

Check Out Our Latest Analysis on SNDK

Sandisk Trading Down 3.5%

The company has a market capitalization of $229.71 billion, a price-to-earnings ratio of 21.52, a P/E/G ratio of 0.16 and a beta of 5.20. The stock’s 50 day moving average price is $1,668.86 and its 200 day moving average price is $1,210.26.

Sandisk (NASDAQ:SNDK – Get Free Report) last released its earnings results on Wednesday, August 5th. The data storage provider reported $39.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $33.28 by $5.97. Sandisk had a return on equity of 87.84% and a net margin of 56.47%.The business had revenue of $8.96 billion for the quarter. During the same period in the prior year, the firm posted $0.29 EPS. Sandisk’s revenue was up 371.6% compared to the same quarter last year. Sandisk has set its Q1 2027 guidance at 44.000-46.000 EPS. On average, research analysts expect that Sandisk Corporation will post 208.92 earnings per share for the current year.

Sandisk declared that its board has authorized a stock buyback program on Wednesday, August 5th that authorizes the company to buyback $14.00 billion in outstanding shares. This buyback authorization authorizes the data storage provider to reacquire up to 6.6% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s leadership believes its shares are undervalued.

Insider Buying and Selling

In other news, insider Bernard Shek sold 600 shares of the stock in a transaction that occurred on Monday, August 3rd. The stock was sold at an average price of $1,162.16, for a total value of $697,296.00. Following the completion of the sale, the insider owned 30,915 shares of the company’s stock, valued at approximately $35,928,176.40. This represents a 1.90% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Alper Ilkbahar sold 2,000 shares of the business’s stock in a transaction on 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 transaction, the executive vice president owned 52,677 shares in the company, valued at approximately $92,531,364.66. The trade was a 3.66% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 3,800 shares of company stock worth $6,504,856. Company insiders own 0.21% of the company’s stock.

Hedge Funds Weigh In On Sandisk

Hedge funds and other institutional investors have recently bought and sold shares of the business. Handelsbanken Fonder AB boosted its holdings in shares of Sandisk by 35.1% during the 2nd quarter. Handelsbanken Fonder AB now owns 57,564 shares of the data storage provider’s stock worth $130,885,000 after buying an additional 14,964 shares during the period. Allworth Financial LP raised its holdings in 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 acquiring an additional 2,067 shares during the period. Tredje AP fonden bought a new position in Sandisk in the 4th quarter valued at about $7,821,000. ProShare Advisors LLC lifted its position in Sandisk by 1,301.5% during the fourth quarter. ProShare Advisors LLC now owns 33,637 shares of the data storage provider’s stock worth $7,985,000 after acquiring an additional 31,237 shares during the last quarter. Finally, FourThought Financial Partners LLC acquired a new stake in Sandisk during the fourth quarter worth approximately $422,000.

About Sandisk

(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.