Sandisk (NASDAQ:SNDK) Shares Up 10.7% – What’s Next?

Sandisk Corporation (NASDAQ:SNDK) was up 10.7% during trading on Thursday . The company traded as high as $1,546.09 and last traded at $1,542.24. Approximately 13,594,121 shares changed hands during mid-day trading, a decline of 25% from the average daily volume of 18,120,721 shares. The stock had previously closed at $1,392.56.

Sandisk News Summary

Here are the key news stories impacting Sandisk this week:

• Positive Sentiment: Hedge fund billionaire David Tepper reportedly bought 281,250 shares of Sandisk, adding to bullish investor sentiment and reinforcing the idea that large investors still see upside after the stock’s huge run. Article Title
• Positive Sentiment: Several recent pieces argue that Sandisk is benefiting from AI-driven NAND demand, enterprise SSD growth, and an improved long-term earnings outlook, with some analysts calling the stock undervalued despite the sharp rally. Article Title
• Positive Sentiment: SanDisk also got a boost from sector momentum as memory stocks rebounded, with traders pointing to AI-related demand and tighter supply conditions among rivals as reasons for the renewed interest. Article Title
• Neutral Sentiment: Some market commentary now frames Sandisk as a “hold” after its explosive year-to-date surge, suggesting the business outlook is strong but the valuation has become much less attractive for new buyers. Article Title
• Negative Sentiment: Jim Cramer’s cautious comments that investors should “let it come down more” may temper enthusiasm, especially after the stock’s massive rally and elevated valuation. Article Title

Analysts Set New Price Targets

Several analysts recently commented on SNDK shares. Bank of America increased their price objective on shares of Sandisk from $900.00 to $1,080.00 and gave the company a “buy” rating in a research report on Friday, April 17th. Barclays lifted their target price on shares of Sandisk from $750.00 to $1,200.00 and gave the stock an “equal weight” rating in a report on Friday, May 1st. Melius Research set a $2,350.00 target price on shares of Sandisk in a research note on Monday. Evercore reiterated an “outperform” rating and set a $1,400.00 price target on shares of Sandisk in a report on Friday, May 1st. Finally, UBS Group set a $1,700.00 price target on shares of Sandisk in a research report on Monday, May 4th. Three analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $1,157.14.

Sandisk Stock Performance

The stock has a 50-day simple moving average of $982.59 and a two-hundred day simple moving average of $596.26. The firm has a market cap of $218.98 billion, a PE ratio of 51.40 and a beta of 4.82.

Sandisk (NASDAQ:SNDK) last announced its quarterly earnings results on Thursday, April 30th. The data storage provider reported $23.41 earnings per share (EPS) for the quarter, beating 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 business earned ($0.30) EPS. The business’s revenue was up 251.0% compared to the same quarter last year. Sandisk has set its Q4 2026 guidance at 30.000-33.000 EPS. As a group, sell-side analysts anticipate that Sandisk Corporation will post 63.58 EPS for the current fiscal year.

Insider Activity at Sandisk

In other Sandisk news, Director Miyuki Suzuki sold 3,500 shares of Sandisk stock in a transaction that occurred on Wednesday, February 25th. The shares were sold at an average price of $627.53, for a total value of $2,196,355.00. Following the completion of the sale, the director owned 9,907 shares of the company’s stock, valued at approximately $6,216,939.71. The trade was a 26.11% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Necip Sayiner sold 579 shares of the business’s stock in a transaction on Friday, May 8th. The shares were sold at an average price of $1,503.11, for a total transaction of $870,300.69. Following the sale, the director owned 2,900 shares of the company’s stock, valued at approximately $4,359,019. This represents a 16.64% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 6,525 shares of company stock worth $6,555,092 over the last quarter. Company insiders own 0.21% of the company’s stock.

Institutional Trading of Sandisk

Several large investors have recently modified their holdings of the company. Vanguard Group Inc. bought a new position in Sandisk in the third quarter valued at about $1,970,388,000. State Street Corp purchased a new position in Sandisk in the third quarter worth about $491,053,000. Arrowstreet Capital Limited Partnership bought a new stake in shares of Sandisk during the 3rd quarter valued at about $297,293,000. Norges Bank bought a new stake in shares of Sandisk during the 4th quarter valued at about $518,889,000. Finally, Bank of America Corp DE purchased a new stake in shares of Sandisk during the 3rd quarter valued at about $190,425,000.

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.