Sandisk Corporation (NASDAQ:SNDK – Get Free Report)’s share price traded down 10.5% during mid-day trading on Friday . The company traded as low as $2,063.04 and last traded at $2,090.71. Approximately 16,651,628 shares were traded during mid-day trading, a decline of 1% from the average daily volume of 16,757,518 shares. The stock had previously closed at $2,335.00.
Key Sandisk News
Here are the key news stories impacting Sandisk this week:
- Positive Sentiment: Sandisk’s recent earnings and outlook remain very strong, with the company posting a blowout quarter and guiding for continued top- and bottom-line growth next quarter. Sandisk: Unlike Micron, There’s Much Higher Risk
- Positive Sentiment: Micron’s strong results are still boosting sentiment toward NAND and AI memory names, keeping Sandisk in focus as investors look for winners in the data-center storage cycle. Micron’s Robust Q3 Results Raise Investor Attention on These 3 Stocks
- Positive Sentiment: Citi raised its price target on Sandisk to $2,500 and reiterated a Buy rating, reinforcing the bullish analyst case for the stock. Citi Just Raised Its Price Target on SanDisk Stock. Here’s Why.
- Neutral Sentiment: Several market stories highlight Sandisk as one of the names benefiting from the AI memory boom, but also note that the broader tech/memory rally has become crowded and more volatile. Apple, Sandisk, Marvell, and More Stocks That Explain Today’s Market
- Negative Sentiment: Investors are locking in gains after the stock’s explosive rally, and premarket weakness reflects profit-taking rather than a change in the underlying business. Why Is Sandisk Stock Falling Friday?
- Negative Sentiment: One recent note argues Sandisk has rallied too far too fast and assigns a lower price target, signaling valuation risk after the sharp move higher. Prediction: SanDisk Has Rallied Too Far, Too Fast. The Price Target Warns of 20%+ Downside
- Negative Sentiment: Broader weakness in the semiconductor and AI-trade complex is also weighing on Sandisk, as traders rotate out of the names that have benefited most from the recent frenzy. Sandisk, Intel, Western Digital, and More Stocks That Explain Today’s Market
Analyst Ratings Changes
SNDK has been the subject of several recent analyst reports. Weiss Ratings cut shares of Sandisk from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday, June 3rd. Cantor Fitzgerald boosted their price target on shares of Sandisk from $1,800.00 to $2,900.00 and gave the company an “overweight” rating in a research report on Monday, June 8th. Royal Bank Of Canada upped their price target on shares of Sandisk from $650.00 to $1,000.00 and gave the stock a “sector perform” rating in a report on Friday, May 1st. Jefferies Financial Group reissued a “buy” rating and set a $1,400.00 price objective on shares of Sandisk in a research note on Friday, May 1st. Finally, Sanford C. Bernstein boosted their target price on Sandisk from $1,250.00 to $1,700.00 and gave the stock an “outperform” rating in a research report on Monday, May 4th. Three analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $1,603.29.
Sandisk Stock Down 10.5%
The firm has a market capitalization of $309.61 billion, a P/E ratio of 72.67 and a beta of 4.87. The firm’s 50-day simple moving average is $1,522.03 and its 200-day simple moving average is $872.58.
Sandisk (NASDAQ:SNDK – Get Free Report) last issued its quarterly earnings results on Thursday, April 30th. The data storage provider reported $23.41 EPS for the quarter, topping analysts’ consensus estimates of $14.17 by $9.24. Sandisk had a net margin of 34.19% and a return on equity of 44.06%. The firm had revenue of $5.95 billion for the quarter. During the same period in the previous year, the company earned ($0.30) EPS. Sandisk’s quarterly revenue was up 251.0% on a year-over-year basis. Sandisk has set its Q4 2026 guidance at 30.000-33.000 EPS. As a group, analysts expect that Sandisk Corporation will post 64.01 EPS for the current fiscal year.
Insider Transactions at Sandisk
In other Sandisk news, EVP Alper Ilkbahar sold 2,000 shares of Sandisk stock in a transaction dated 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 sale, the executive vice president owned 52,677 shares of the company’s stock, valued at $92,531,364.66. The trade was a 3.66% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Michael Pokorny sold 2,446 shares of the stock in a transaction dated Tuesday, May 12th. The shares were sold at an average price of $1,426.18, for a total value of $3,488,436.28. Following the transaction, the chief accounting officer owned 22,375 shares in the company, valued at $31,910,777.50. This trade represents a 9.85% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 5,625 shares of company stock worth $8,913,497. 0.21% of the stock is currently owned by company insiders.
Hedge Funds Weigh In On Sandisk
A number of large investors have recently bought and sold shares of SNDK. Valley Wealth Managers Inc. purchased a new stake in shares of Sandisk during the first quarter valued at approximately $25,000. Whittier Trust Co. bought a new position in Sandisk during the 4th quarter valued at approximately $26,000. Greenline Wealth Management LLC purchased a new stake in Sandisk in the 4th quarter worth approximately $26,000. Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in shares of Sandisk in the 3rd quarter worth approximately $27,000. Finally, Chung Wu Investment Group LLC bought a new stake in shares of Sandisk in the 4th quarter worth approximately $27,000.
About Sandisk
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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