Sandisk Corporation (NASDAQ:SNDK – Get Free Report)’s stock price shot up 6.2% during trading on Thursday . The stock traded as high as $1,625.36 and last traded at $1,614.39. Approximately 8,386,397 shares traded hands during mid-day trading, a decline of 47% from the average daily volume of 15,826,856 shares. The stock had previously closed at $1,519.97.
Sandisk News Roundup
Here are the key news stories impacting Sandisk this week:
- Positive Sentiment: Analysts say the memory shortage remains unresolved, potentially supporting NAND pricing, supply discipline and additional upside for Sandisk. The company’s data-center and AI exposure is viewed as a long-term growth catalyst. The Memory Shortage Is Not Over
- Positive Sentiment: Recent analysis argues that Sandisk’s NAND supply contracts could improve earnings visibility and support substantial margin expansion. Management’s long-term targets of roughly 80% non-GAAP gross margins and 75% operating margins reinforce the bullish earnings outlook. Sandisk Earnings Power Analysis
- Positive Sentiment: Sandisk’s latest reported quarter showed $39.25 in earnings per share, well above the $33.28 consensus estimate, with revenue up 371.6% year over year. Its $14 billion buyback authorization may also provide support by reducing shares outstanding.
- Neutral Sentiment: Micron, SK Hynix and Sandisk benefited from a sector-wide rebound after an earlier AI-related sell-off. Improving macro sentiment helped technology stocks recover, but the move was not tied to a new Sandisk-specific announcement. Why Memory-Chip Stocks Are Jumping
- Neutral Sentiment: Investor interest is high after Sandisk’s extraordinary one-year gain, but commentary warns that its valuation and extreme volatility could lead to sharp moves. The leveraged SNXX ETF amplifies daily SNDK returns and can suffer from substantial decay in volatile or sideways markets. SNXX Benefits and Risks
- Negative Sentiment: CEO David Goeckeler and CFO Luis Felipe Visoso recently sold shares worth approximately $51.7 million and $1.6 million, respectively. Both transactions were conducted under pre-arranged Rule 10b5-1 plans, making them limited signals, but the sales may still increase investor caution after the stock’s large rally. Sandisk Insider Sales
- Negative Sentiment: Concerns about slowing frontier-AI development, profit-taking and competition from other memory suppliers remain risks. At roughly $1,609, the shares remain well below their 52-week high of $2,354 but carry a high beta of 5.17, leaving them sensitive to changes in AI spending expectations.
Analyst Upgrades and Downgrades
SNDK has been the subject of several analyst reports. Morgan Stanley upped their price objective on Sandisk from $1,100.00 to $1,750.00 and gave the stock an “overweight” rating in a research report on Wednesday, June 3rd. Citigroup dropped their price target on shares of Sandisk from $2,500.00 to $2,100.00 and set a “buy” rating on the stock in a research note on Thursday, August 6th. Bank of America upped their target price on shares of Sandisk from $2,100.00 to $2,500.00 and gave the company a “buy” rating in a report on Wednesday, July 1st. JPMorgan Chase & Co. initiated coverage on shares of Sandisk in a research note on Friday, August 14th. They set an “overweight” rating and a $2,250.00 price target on the stock. Finally, Weiss Ratings downgraded shares of Sandisk from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Thursday, September 10th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty have issued a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, Sandisk currently has an average rating of “Moderate Buy” and an average target price of $1,998.14.
Sandisk Stock Up 6.2%
The firm has a market capitalization of $236.39 billion, a PE ratio of 22.15, a PEG ratio of 0.15 and a beta of 5.17. The business’s fifty day moving average price is $1,508.03 and its 200 day moving average price is $1,346.94.
Sandisk (NASDAQ:SNDK – Get Free Report) last issued its quarterly earnings results on Wednesday, August 5th. The data storage provider reported $39.25 earnings per share for the quarter, topping the consensus estimate of $33.28 by $5.97. Sandisk had a return on equity of 87.84% and a net margin of 56.47%.The firm had revenue of $8.96 billion during the quarter. During the same period in the prior year, the business earned $0.29 earnings per share. Sandisk’s revenue for the quarter 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, analysts anticipate that Sandisk Corporation will post 208.92 earnings per share for the current year.
Sandisk announced that its board has approved a share repurchase plan on Wednesday, August 5th that allows the company to repurchase $14.00 billion in shares. This repurchase authorization allows the data storage provider to buy up to 6.6% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s board believes its shares are undervalued.
Insider Activity at Sandisk
In other news, CFO Luis Visoso sold 1,000 shares of the stock in a transaction dated Tuesday, September 15th. The shares were sold at an average price of $1,568.83, for a total value of $1,568,830.00. Following the completion of the transaction, the chief financial officer owned 130,976 shares in the company, valued at $205,479,078.08. This trade represents a 0.76% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Bernard Shek sold 2,308 shares of the stock in a transaction dated Tuesday, September 8th. The shares were sold at an average price of $1,767.33, for a total transaction of $4,078,997.64. Following the completion of the transaction, the insider directly owned 25,305 shares of the company’s stock, valued at approximately $44,722,285.65. This trade represents a 8.36% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 44,058 shares of company stock valued at $68,098,118 over the last 90 days. Company insiders own 0.21% of the company’s stock.
Institutional Investors Weigh In On Sandisk
Several institutional investors and hedge funds have recently made changes to their positions in SNDK. BlackRock Inc. acquired a new stake in shares of Sandisk in the second quarter valued at approximately $23,408,732,000. Geode Capital Management LLC increased its position in Sandisk by 44.9% during the fourth quarter. Geode Capital Management LLC now owns 3,655,860 shares of the data storage provider’s stock worth $866,310,000 after buying an additional 1,133,276 shares in the last quarter. Arrowstreet Capital Limited Partnership raised its holdings in shares of Sandisk by 31.3% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 3,478,002 shares of the data storage provider’s stock worth $825,608,000 after acquiring an additional 828,332 shares during the last quarter. Situational Awareness LP raised its holdings in shares of Sandisk by 42.4% in the second quarter. Situational Awareness LP now owns 2,495,344 shares of the data storage provider’s stock worth $5,673,739,000 after acquiring an additional 743,325 shares during the last quarter. Finally, Norges Bank purchased a new stake in shares of Sandisk in the fourth quarter valued at $518,889,000.
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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