Sandisk Corporation (NASDAQ:SNDK – Get Free Report) was up 5.3% during mid-day trading on Monday . The company traded as high as $1,694.99 and last traded at $1,642.00. Approximately 8,110,418 shares changed hands during mid-day trading, a decline of 53% from the average daily volume of 17,326,029 shares. The stock had previously closed at $1,559.32.
Sandisk News Summary
Here are the key news stories impacting Sandisk this week:
- Positive Sentiment: Bank of America and other analysts raised their price targets on Sandisk, pointing to tight memory supply, strong contract demand, and continued upside in the AI storage cycle. Article: SanDisk Stock Has 35% More To Run, Analyst Says
- Positive Sentiment: Multiple reports say Sandisk’s shift toward multi-year NAND supply agreements is boosting margins, cash flow, and revenue certainty, which investors are viewing as a more durable business model. Article: SNDK’s New Business Model Boosts Profitability: Time to Buy the Stock?
- Positive Sentiment: Coverage from several outlets highlighted that Sandisk is benefiting from the broader memory-stock rebound, helped by NVIDIA CEO Jensen Huang’s comments that the memory shortage could last for years. Article: Nvidia CEO Pours Gasoline on the Micron and SanDisk Rally…
- Neutral Sentiment: Some commentary focused on valuation after Sandisk’s huge recent run, suggesting the stock is expensive and may need continued earnings delivery to justify the premium. Article: SK Hynix’s Potential Listing Will Crumble Sandisks Premium
- Negative Sentiment: One item noted insider selling, which is not helping sentiment even though it is smaller than the analyst-driven upside narrative. Article: Insider Selling: Sandisk (NASDAQ:SNDK) Insider Sells $1,041,600.00 in Stock
Analyst Ratings Changes
A number of equities analysts have issued reports on SNDK shares. Zacks Research raised shares of Sandisk from a “hold” rating to a “strong-buy” rating in a report on Friday, February 20th. Arete Research raised Sandisk from a “hold” rating to a “strong-buy” rating in a report on Monday, April 13th. Wells Fargo & Company lifted their price target on Sandisk from $975.00 to $1,250.00 and gave the company an “equal weight” rating in a report on Friday, May 1st. The Goldman Sachs Group reaffirmed a “buy” rating and set a $1,200.00 price target on shares of Sandisk in a report on Friday, May 1st. Finally, Citigroup lifted their price target on Sandisk from $1,300.00 to $2,025.00 and gave the company a “buy” rating in a report on Tuesday, May 19th. Three investment analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $1,511.68.
Sandisk Price Performance
The stock has a market cap of $243.16 billion, a P/E ratio of 57.07 and a beta of 4.87. The company has a fifty day moving average of $1,174.63 and a 200 day moving average of $698.85.
Sandisk (NASDAQ:SNDK – Get Free Report) last posted its quarterly earnings results on Thursday, April 30th. The data storage provider reported $23.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $14.17 by $9.24. The firm had revenue of $5.95 billion for the quarter. Sandisk had a net margin of 34.19% and a return on equity of 44.06%. The company’s quarterly revenue was up 251.0% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.30) EPS. Sandisk has set its Q4 2026 guidance at 30.000-33.000 EPS. As a group, analysts anticipate that Sandisk Corporation will post 63.58 EPS for the current year.
Insider Buying and Selling at Sandisk
In other Sandisk news, Director Necip Sayiner sold 579 shares of Sandisk stock in a transaction that occurred 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 transaction, the director owned 2,900 shares in the company, valued at approximately $4,359,019. The trade was a 16.64% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Alper Ilkbahar sold 2,000 shares of Sandisk stock in a transaction that occurred 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 completion of the transaction, the executive vice president owned 52,677 shares in the company, valued at approximately $92,531,364.66. This trade represents a 3.66% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 5,625 shares of company stock worth $8,913,497. 0.21% of the stock is owned by corporate insiders.
Institutional Inflows and Outflows
Several hedge funds have recently added to or reduced their stakes in the business. Parallel Advisors LLC grew its position in Sandisk by 233.3% in the first quarter. Parallel Advisors LLC now owns 1,430 shares of the data storage provider’s stock worth $909,000 after buying an additional 1,001 shares during the last quarter. NewEdge Advisors LLC grew its position in Sandisk by 187.2% in the first quarter. NewEdge Advisors LLC now owns 18,129 shares of the data storage provider’s stock worth $11,518,000 after buying an additional 11,817 shares during the last quarter. Keel Point LLC acquired a new position in Sandisk in the first quarter worth approximately $314,000. Glenmede Trust Co. NA grew its position in Sandisk by 76.4% in the first quarter. Glenmede Trust Co. NA now owns 2,754 shares of the data storage provider’s stock worth $1,750,000 after buying an additional 1,193 shares during the last quarter. Finally, Liontrust Investment Partners LLP acquired a new position in Sandisk in the first quarter worth approximately $11,892,000.
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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