Sandisk Corporation (NASDAQ:SNDK – Get Free Report) shares fell 7.3% during mid-day trading on Wednesday . The stock traded as low as $998.19 and last traded at $1,015.89. 23,534,311 shares were traded during mid-day trading, an increase of 43% from the average daily volume of 16,471,961 shares. The stock had previously closed at $1,096.10.
More Sandisk News
Here are the key news stories impacting Sandisk this week:
- Positive Sentiment: Strong results and spending from major technology companies renewed confidence in AI-related memory demand. Microsoft’s planned capital expenditures of approximately $190 billion and Samsung Electronics’ surge in chip profits, along with multi-year data-center supply agreements, suggest tight memory-chip conditions could persist through 2028. Memory stocks rebound on AI spending and Samsung results
- Positive Sentiment: Investors are focused on SanDisk’s fiscal fourth-quarter report due August 5. Analysts expect significant earnings growth, while the company’s AI-driven enterprise-storage opportunity, roughly $42 billion in contracts, debt-free balance sheet, and record of beating earnings and revenue estimates support the bullish case. SanDisk Q4 earnings date and ownership
- Positive Sentiment: Options activity indicates traders anticipate an unusually large move around the earnings release. Some analysts also see substantial upside from current levels if AI storage demand remains structurally stronger than in prior NAND cycles. SanDisk Q4 earnings options outlook
- Neutral Sentiment: Recent reports from SK Hynix and Seagate, broader semiconductor risk appetite, and technical signs that SNDK became deeply oversold have made the stock a potential rebound candidate, but the earnings catalyst also creates elevated event risk. SanDisk oversold analysis
- Negative Sentiment: Chinese memory-chip competition is reviving fears of another NAND oversupply cycle, pressuring expectations for pricing and margins. Investors are also questioning whether the AI boom can remain strong through the end of the decade. Chinese competition pressures SanDisk
- Negative Sentiment: Despite its recent recovery, SanDisk’s extreme valuation and exceptionally high volatility leave the stock vulnerable to profit-taking if the August 5 report, guidance, or NAND pricing outlook disappoints.
Analyst Ratings Changes
SNDK has been the subject of several recent analyst reports. Wells Fargo & Company raised their target price on shares of Sandisk from $1,250.00 to $1,620.00 and gave the stock an “equal weight” rating in a research note on Wednesday, July 22nd. Jefferies Financial Group reiterated a “buy” rating and set a $1,400.00 price target on shares of Sandisk in a research note on Friday, May 1st. Cantor Fitzgerald increased their price target on shares of Sandisk from $1,800.00 to $2,900.00 and gave the stock an “overweight” rating in a report on Monday, June 8th. Argus started coverage on shares of Sandisk in a research report on Wednesday, July 15th. They issued a “hold” rating for the company. Finally, Zacks Research downgraded shares of Sandisk from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 1st. Two research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $1,811.38.
Sandisk Stock Down 4.0%
The company has a market cap of $181.98 billion, a price-to-earnings ratio of 43.63 and a beta of 4.74. The business has a fifty day simple moving average of $1,734.42 and a 200 day simple moving average of $1,115.89.
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 for the quarter, topping analysts’ consensus estimates of $14.17 by $9.24. The business 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 business’s revenue for the quarter was up 251.0% compared to the same quarter last year. During the same period last year, the company earned ($0.30) earnings per share. Equities analysts anticipate that Sandisk Corporation will post 64.52 EPS for the current fiscal year.
Insider Activity at Sandisk
In other Sandisk news, insider Bernard Shek sold 600 shares of the company’s stock in a transaction dated Wednesday, July 1st. The shares were sold at an average price of $2,088.00, for a total transaction of $1,252,800.00. Following the transaction, the insider directly owned 31,515 shares in the company, valued at approximately $65,803,320. This represents a 1.87% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Alper Ilkbahar sold 2,000 shares of the stock in a transaction dated Monday, June 1st. The shares were 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 directly 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 ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 6,225 shares of company stock worth $10,166,297 over the last three months. 0.21% of the stock is currently owned by company insiders.
Institutional Investors Weigh In On Sandisk
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Osaic Holdings Inc. acquired a new stake in shares of Sandisk in the 2nd quarter worth approximately $317,000. Merit Financial Group LLC acquired a new position in Sandisk during the third quarter worth $408,000. Dimensional Fund Advisors LP purchased a new stake in Sandisk during the third quarter worth $100,080,000. First Trust Advisors LP purchased a new stake in Sandisk during the third quarter worth $9,788,000. Finally, Blair William & Co. IL acquired a new stake in Sandisk in the third quarter valued at $591,000.
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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