Sandisk Corporation (NASDAQ:SNDK – Get Free Report)’s share price dropped 3.5% during mid-day trading on Thursday. The company traded as low as $1,726.39 and last traded at $1,753.62. Approximately 8,125,441 shares traded hands during mid-day trading, a decline of 48% from the average daily volume of 15,711,091 shares. The stock had previously closed at $1,816.57.
Sandisk News Roundup
Here are the key news stories impacting Sandisk this week:
- Positive Sentiment: Rosenblatt initiated coverage with a “Strong Buy” rating and a $2,400 price target, implying continued upside based on expectations that AI workloads will create sustained demand for enterprise NAND and high-bandwidth flash storage. Why Rosenblatt Thinks Sandisk Stock Is Headed for $2,400
- Positive Sentiment: Sandisk has reportedly secured buyers for about half of its current-year output and roughly two-thirds of next year’s production, with price floors that could provide revenue visibility and protection if NAND pricing weakens. Sandisk Has Signed Away Two Thirds of Next Year’s Output
- Positive Sentiment: Analysts continue to argue that AI inferencing, hyperscaler expansion and constrained enterprise-storage supply could support a multiyear earnings growth cycle. Sandisk’s strong margins, cash generation and additional business commitments reinforce that outlook. Sandisk: Market Is Still Undervaluing the AI Supercycle Upside
- Positive Sentiment: Sandisk’s inclusion in the S&P 100 and a sizable share-repurchase authorization—reported at approximately $14 billion to $15.5 billion—could support demand for the stock and increase future earnings per share by reducing the share count. Sandisk Joins the S&P 100
- Neutral Sentiment: Sandisk and Kioxia plan to invest more than $31 billion in Japan, potentially expanding future memory capacity and strengthening their position in the global market, although the investment also raises execution and capital-spending considerations. Kioxia and Sandisk to Invest Over $31 Billion in Japan
- Negative Sentiment: The immediate weakness is largely sector-wide, with Micron and SK hynix also retreating as investors lock in gains and reassess how much AI optimism is already reflected in memory-stock valuations. Why Memory Stocks Are Down Today
- Negative Sentiment: Risks include weak consumer-storage demand, higher costs, possible NAND-price normalization, competition from Chinese suppliers and a premium valuation that leaves the stock vulnerable to profit-taking. A recent executive share sale may also weigh modestly on sentiment.
Analysts Set New Price Targets
SNDK has been the topic of a number of recent research reports. Zacks Research downgraded Sandisk from a “strong-buy” rating to a “hold” rating in a report on Monday, September 7th. Jefferies Financial Group reissued a “buy” rating on shares of Sandisk in a research note on Thursday, August 6th. Bank of America raised 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, July 1st. New Street Research set a $3,000.00 target price on Sandisk in a report on Thursday, August 6th. Finally, JPMorgan Chase & Co. started coverage on Sandisk in a research report on Friday, August 14th. They issued an “overweight” rating and a $2,250.00 price objective for the company. Three research analysts have rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $2,015.61.
Sandisk Price Performance
The business has a fifty day simple moving average of $1,509.14 and a 200 day simple moving average of $1,388.43. The firm has a market cap of $256.76 billion, a price-to-earnings ratio of 24.06, a PEG ratio of 0.19 and a beta of 5.17.
Sandisk (NASDAQ:SNDK – Get Free Report) last posted its quarterly earnings data on Wednesday, August 5th. The data storage provider reported $39.25 EPS for the quarter, beating the consensus estimate of $33.28 by $5.97. The firm had revenue of $8.96 billion during the quarter. Sandisk had a return on equity of 87.84% and a net margin of 56.47%.The firm’s revenue for the quarter was up 371.6% compared to the same quarter last year. During the same period in the prior year, the company posted $0.29 earnings per share. Sandisk has set its Q1 2027 guidance at 44.000-46.000 EPS. On average, research analysts anticipate that Sandisk Corporation will post 208.94 earnings per share for the current fiscal year.
Sandisk announced that its Board of Directors has initiated a stock buyback plan on Wednesday, August 5th that authorizes the company to repurchase $14.00 billion in shares. This repurchase authorization authorizes the data storage provider to repurchase up to 6.6% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s leadership believes its shares are undervalued.
Insider Activity
In other Sandisk news, CFO Luis Visoso sold 1,000 shares of Sandisk stock in a transaction dated Tuesday, September 15th. The shares were sold at an average price of $1,568.83, for a total transaction of $1,568,830.00. Following the transaction, the chief financial officer directly owned 130,976 shares of the company’s stock, valued at $205,479,078.08. The trade was a 0.76% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO David Goeckeler sold 33,841 shares of the firm’s stock in a transaction that occurred on Thursday, September 17th. The stock was sold at an average price of $1,574.21, for a total transaction of $53,272,840.61. Following the sale, the chief executive officer owned 382,865 shares of the company’s stock, valued at $602,709,911.65. This represents a 8.12% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 77,899 shares of company stock worth $121,370,958. Company insiders own 0.21% of the company’s stock.
Institutional Trading of Sandisk
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Handelsbanken Fonder AB increased its position in shares of Sandisk by 35.1% during the second quarter. Handelsbanken Fonder AB now owns 57,564 shares of the data storage provider’s stock worth $130,885,000 after acquiring an additional 14,964 shares during the period. Focus Partners Advisor Solutions LLC acquired a new stake in shares of Sandisk in the 2nd quarter valued at about $4,775,000. Florida Financial Advisors LLC purchased a new position in shares of Sandisk during the first quarter worth approximately $2,747,000. UNICOM Systems Inc. raised its holdings in shares of Sandisk by 14.9% in the second quarter. UNICOM Systems Inc. now owns 58,500 shares of the data storage provider’s stock valued at $133,013,000 after buying an additional 7,600 shares during the last quarter. Finally, Affinity Capital Advisors LLC acquired a new stake in Sandisk during the 2nd quarter worth approximately $2,506,000.
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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