Sandisk (NASDAQ:SNDK) Issues Earnings Results, Beats Expectations By $3.32 EPS

Posted by Stanley Muller on Oct 30th, 2026

Sandisk (NASDAQ:SNDK – Get Free Report) posted its quarterly earnings data on Thursday. The data storage provider reported $49.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $46.19 by $3.32, FiscalAI reports. The company had revenue of $11.03 billion for the quarter. Sandisk had a net margin of 56.47% and a return on equity of 87.84%. The company’s revenue for the quarter was up 23.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.22 EPS.

Here are the key takeaways from Sandisk’s conference call:

Strong first-quarter results exceeded guidance: Revenue reached $11 billion, non-GAAP gross margin was 85.1%, and non-GAAP EPS was $49.51. Adjusted free cash flow totaled $5.7 billion, supporting $5 billion in share repurchases.
AI-driven data-center demand remains a major growth engine. Data-center revenue rose 61% sequentially to $4.8 billion, while management said industry data-center bit demand could grow about 40% in calendar 2027 and exceed 55% of the market.
Long-term customer commitments are expanding. Sandisk said its NBM pipeline exceeds available supply through the end of the decade, with roughly half of fiscal 2027 bits and two-thirds of fiscal 2028 bits under contract; management expects the committed share to rise further.
Near-term guidance points to continued growth. Fiscal second-quarter revenue is expected at $12.2 billion-$12.6 billion, with non-GAAP EPS of $55-$57 pre-split, and the board approved an 8-for-1 stock split effective in November.
Consumer weakness and seasonal risk remain. Consumer revenue fell 29% sequentially to $397 million as customers adjusted to higher prices, and management cautioned that fiscal third-quarter sequential growth should be modeled conservatively because it is historically the weakest quarter.

Sandisk Trading Down 11.5%

Sandisk stock traded down $152.60 on Friday, reaching $1,177.45. 5,983,373 shares of the stock were exchanged, compared to its average volume of 14,736,692. The firm has a fifty day moving average price of $1,566.91 and a two-hundred day moving average price of $1,247.03. Sandisk has a twelve month low of $183.00 and a twelve month high of $2,354.39. The stock has a market cap of $170.18 billion, a PE ratio of 16.18, a PEG ratio of 0.14 and a beta of 5.23.

Analyst Upgrades and Downgrades

SNDK has been the topic of several research reports. Zacks Research upgraded shares of Sandisk from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 13th. Arete Research increased their price objective on shares of Sandisk from $2,300.00 to $3,000.00 and gave the stock a “buy” rating in a report on Thursday, August 27th. Weiss Ratings lowered Sandisk from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday, October 14th. Rosenblatt Securities assumed coverage on Sandisk in a research note on Tuesday, September 22nd. They issued a “buy” rating and a $2,400.00 price target for the company. Finally, Argus raised shares of Sandisk from a “hold” rating to a “buy” rating and set a $1,600.00 price objective for the company in a report on Monday, August 10th. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $2,073.54.

Read Our Latest Stock Analysis on SNDK

Sandisk News Summary

Here are the key news stories impacting Sandisk this week:

Positive Sentiment: Sandisk reported fiscal Q1 revenue of approximately $11.03 billion and earnings of $49.51 per share, exceeding analyst expectations. Revenue increased 378% year over year, while net income reached $8.1 billion. Sandisk Corporation Tops Q1 Earnings and Revenue Estimates
Positive Sentiment: Management issued strong fiscal Q2 guidance, calling for revenue of $12.2 billion to $12.6 billion and non-GAAP diluted earnings of $55 to $57 per pre-split share. Data-center revenue rose 61% sequentially as artificial-intelligence infrastructure drove demand for storage products. Sandisk Expects Higher Fiscal Q2 Revenue and Approves Stock Split
Positive Sentiment: Long-term customer agreements and supply commitments reportedly provide substantial revenue visibility through the end of the decade. Sandisk also repurchased about $5 billion of stock during the quarter, while management described strong customer demand and a pipeline extending through 2030. Memory Profits and Long-Term Demand
Positive Sentiment: The company announced an 8-for-1 forward stock split effective November 19, 2026. The split does not change Sandisk’s fundamental value, but could improve share accessibility and liquidity. Susquehanna maintained a positive rating despite trimming its price target to $2,720. Why Sandisk Stock Plunged Today
Neutral Sentiment: Analysts continue to cite Sandisk as a value-oriented growth stock, but its very large market capitalization and elevated valuation have increased sensitivity to profit-taking after a major run-up.
Negative Sentiment: Sandisk was caught in a wider semiconductor sell-off after disappointing results from Amazon and Intel pressured technology stocks. Peer memory companies also declined, creating sector-wide selling pressure despite Sandisk’s earnings beat. Why Memory Stocks Are Falling
Negative Sentiment: Investors are also assessing increased competition, including rapid growth from China’s ChangXin Memory Technologies, and questioning whether current earnings momentum can justify Sandisk’s elevated valuation.

Insider Buying and Selling at Sandisk

In related news, CFO Luis Visoso sold 1,000 shares of Sandisk stock in a transaction dated Tuesday, September 15th. The stock was sold at an average price of $1,568.83, for a total value of $1,568,830.00. Following the completion of 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 transaction was disclosed in a filing with the SEC, which is available 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 business’s stock in a transaction on Thursday, September 17th. The stock was sold at an average price of $1,574.21, for a total value of $53,272,840.61. Following the sale, the chief executive officer owned 382,865 shares of the company’s stock, valued at approximately $602,709,911.65. The trade was a 8.12% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 77,899 shares of company stock valued at $121,159,122 in the last 90 days. Insiders own 0.29% of the company’s stock.

Institutional Trading of Sandisk

A number of hedge funds have recently modified their holdings of the company. Dogwood Wealth Management LLC grew its holdings in Sandisk by 14.3% in the second quarter. Dogwood Wealth Management LLC now owns 48 shares of the data storage provider’s stock worth $109,000 after purchasing an additional 6 shares during the period. Nilsine Partners LLC grew its stake in Sandisk by 3.2% in the second quarter. Nilsine Partners LLC now owns 226 shares of the data storage provider’s stock valued at $514,000 after acquiring an additional 7 shares during the period. Insight Wealth Partners LLC lifted its holdings in shares of Sandisk by 0.4% in the 2nd quarter. Insight Wealth Partners LLC now owns 1,607 shares of the data storage provider’s stock worth $3,654,000 after purchasing an additional 7 shares in the last quarter. Verdence Capital Advisors LLC grew its holdings in shares of Sandisk by 2.4% during the third quarter. Verdence Capital Advisors LLC now owns 340 shares of the data storage provider’s stock valued at $592,000 after buying an additional 8 shares during the last quarter. Finally, SYM FINANCIAL Corp boosted its stake in Sandisk by 3.1% during the 3rd quarter. SYM FINANCIAL Corp now owns 267 shares of the data storage provider’s stock valued at $464,000 after purchasing an additional 8 shares during the last quarter.

Sandisk announced that its Board of Directors has initiated a share buyback program on Wednesday, August 5th that allows the company to repurchase $14 billion in shares. This repurchase authorization allows the data storage provider to repurchase up to 6.6% of its shares through open market purchases. Stock repurchase programs are often an indication that the company’s board of directors believes its stock is undervalued.

Sandisk Company Profile

(Get Free Report)

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.

Earnings History for Sandisk (NASDAQ:SNDK)

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