Sandisk (NASDAQ:SNDK) Trading Up 26% – Time to Buy?

Posted by Brenda Bartman on Jul 30th, 2026

Shares of Sandisk Corporation (NASDAQ:SNDK – Get Free Report) were up 26% during trading on Thursday . The stock traded as high as $1,285.48 and last traded at $1,279.96. 23,384,505 shares were traded during mid-day trading, an increase of 41% from the average session volume of 16,526,291 shares. The stock had previously closed at $1,015.89.

Trending Headlines about Sandisk

Here are the key news stories impacting Sandisk this week:

Positive Sentiment: AI spending and memory-supply outlook improve: Strong results from Microsoft renewed confidence in data-center AI investment, while Samsung reported a more than 250-fold increase in chip profit and said global shortages could worsen through 2028. Those developments support demand for SanDisk’s storage products and helped lift memory stocks broadly. Why Micron, Sandisk, SK Hynix and other memory stocks are roaring back today?
Positive Sentiment: Analysts continue to see substantial long-term upside: Commentary highlights enterprise-storage demand tied to AI inference, approximately $42 billion in contracts, a debt-free balance sheet and repeated upward earnings and revenue revisions. SanDisk has also reportedly exceeded earnings and revenue expectations for five consecutive quarters. SanDisk’s Biggest Opportunity Yet
Positive Sentiment: Oversold conditions may be attracting buyers: After losing roughly half its value from its recent peak, SNDK has become technically oversold. Investors are betting that forced selling and margin liquidations have eased, creating the possibility of a sharp rebound if fundamentals remain intact. Is SanDisk stock crash over as SNDK turns most oversold in 15 months?
Neutral Sentiment: Attention is turning to earnings: SanDisk is expected to report fiscal fourth-quarter results on August 5. One preview cites a projected EPS figure of $33.38 and a consensus Buy rating, making the report and management’s commentary on AI storage demand important near-term catalysts. Sandisk Stock Is Gaining Thursday: What’s Going On?
Negative Sentiment: Valuation and cyclical risks remain: Morningstar reportedly expects the current AI-driven memory boom to be temporary, with a potential downturn by 2029. Investors also remain concerned about Chinese NAND competition, the possibility of another memory-cycle downturn and the stock’s elevated valuation after its extraordinary prior rally. SanDisk falls 54%: Morningstar sees finite AI boom before 2029 downturn

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. Weiss Ratings cut shares of Sandisk from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Tuesday, July 21st. Evercore set a $3,100.00 target price on shares of Sandisk in a research report on Monday, July 13th. Melius Research set a $2,350.00 price target on shares of Sandisk in a research note on Monday, May 18th. Mizuho increased their price objective on Sandisk from $1,825.00 to $2,200.00 and gave the stock an “outperform” rating in a research note on Monday, June 8th. Finally, The Goldman Sachs Group restated a “buy” rating and set a $1,200.00 price objective on shares of Sandisk in a report on Friday, May 1st. Two investment analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $1,811.38.

Get Our Latest Research Report on Sandisk

Sandisk Stock Performance

The company has a market capitalization of $189.55 billion, a P/E ratio of 44.49 and a beta of 4.74. The company’s fifty day simple moving average is $1,739.66 and its 200-day simple moving average is $1,109.53.

Sandisk (NASDAQ:SNDK – Get Free Report) last announced its quarterly earnings results on Thursday, April 30th. The data storage provider reported $23.41 earnings per share for the quarter, topping the consensus estimate 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 during the quarter. During the same period in the previous year, the company posted ($0.30) EPS. Sandisk’s revenue for the quarter was up 251.0% on a year-over-year basis. On average, sell-side analysts predict that Sandisk Corporation will post 64.52 EPS for the current year.

Insider Buying and Selling at Sandisk

In other Sandisk news, EVP Alper Ilkbahar sold 2,000 shares of the 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 sale, the executive vice president owned 52,677 shares of the company’s stock, valued at approximately $92,531,364.66. This trade represents a 3.66% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Michael Pokorny sold 2,446 shares of Sandisk stock in a transaction on 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 completion of the transaction, the chief accounting officer owned 22,375 shares in the company, valued at $31,910,777.50. This represents a 9.85% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 6,225 shares of company stock worth $10,166,297. 0.21% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Sandisk

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. State Street Corp raised its holdings in Sandisk by 20.7% in the fourth quarter. State Street Corp now owns 5,281,522 shares of the data storage provider’s stock worth $1,253,728,000 after purchasing an additional 904,933 shares in the last quarter. Geode Capital Management LLC boosted its stake in Sandisk by 44.9% in the fourth quarter. Geode Capital Management LLC now owns 3,655,860 shares of the data storage provider’s stock valued at $866,310,000 after acquiring an additional 1,133,276 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its position in shares of Sandisk by 31.3% during 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 purchasing an additional 828,332 shares in the last quarter. Morgan Stanley lifted its holdings in shares of Sandisk by 7.2% during the 4th quarter. Morgan Stanley now owns 2,970,361 shares of the data storage provider’s stock valued at $705,105,000 after purchasing an additional 199,545 shares during the last quarter. Finally, Norges Bank acquired a new stake in shares of Sandisk in the 4th quarter worth $518,889,000.

Sandisk Company Profile

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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.