Sandisk Corporation (NASDAQ:SNDK – Get Free Report) shares were up 22% during trading on Thursday . The company traded as high as $2,348.00 and last traded at $2,335.00. Approximately 14,718,731 shares traded hands during mid-day trading, a decline of 12% from the average daily volume of 16,763,578 shares. The stock had previously closed at $1,914.46.
Sandisk News Summary
Here are the key news stories impacting Sandisk this week:
- Positive Sentiment: Rising AI infrastructure demand continues to support Sandisk’s NAND flash and SSD business, with multiple articles pointing to strong pricing power, improving earnings, and a favorable industry backdrop. Micron + One Explosive AI Memory Stock to Buy Before H2 2026
- Positive Sentiment: Citi raised its price target on Sandisk to $2,500 and reiterated a Buy rating, reinforcing the view that Wall Street still sees upside after the company’s blowout quarter. Citi Just Raised Its Price Target on SanDisk Stock. Here’s Why.
- Positive Sentiment: Micron’s strong results also lifted sentiment across the memory-chip group, putting Sandisk in focus as investors extrapolate stronger AI memory demand into the next quarter. Micron’s Robust Q3 Results Raise Investor Attention on These 3 Stocks
- Neutral Sentiment: Some analysis notes that Sandisk remains attractively valued versus its growth profile, but that the stock carries higher execution and customer-concentration risk than more diversified peers. Sandisk: Unlike Micron, There’s Much Higher Risk
- Negative Sentiment: Several market reports describe the move as a cooling of the memory rally, with traders locking in profits after Thursday’s sharp surge. Why Is Sandisk Stock Falling Friday?
- Negative Sentiment: One bearish note argues Sandisk has rallied too far too fast and implies material downside from current levels, adding to near-term pressure on the shares. Prediction: SanDisk Has Rallied Too Far, Too Fast. The Price Target Warns of 20%+ Downside
Analyst Ratings Changes
SNDK has been the topic of a number of research reports. Cantor Fitzgerald boosted their target price on shares of Sandisk from $1,800.00 to $2,900.00 and gave the company an “overweight” rating in a report on Monday, June 8th. Wells Fargo & Company raised their target price on shares of Sandisk from $975.00 to $1,250.00 and gave the company an “equal weight” rating in a research note on Friday, May 1st. Wedbush lifted their target price on shares of Sandisk from $740.00 to $1,200.00 and gave the company an “outperform” rating in a report on Wednesday, April 29th. Evercore restated an “outperform” rating and issued a $1,400.00 price target on shares of Sandisk in a research note on Friday, May 1st. Finally, Raymond James Financial reaffirmed an “outperform” rating and set a $1,470.00 price objective on shares of Sandisk in a research report on Friday, May 1st. Three analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $1,603.29.
Sandisk Price Performance
The stock has a market cap of $309.61 billion, a P/E ratio of 72.67 and a beta of 4.87. The firm’s 50 day moving average price is $1,546.01 and its 200-day moving average price is $881.10.
Sandisk (NASDAQ:SNDK – Get Free Report) last posted its 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 return on equity of 44.06% and a net margin of 34.19%.The business had revenue of $5.95 billion during the quarter. During the same period in the previous year, the business posted ($0.30) EPS. The firm’s revenue for the quarter was up 251.0% on a year-over-year basis. Sandisk has set its Q4 2026 guidance at 30.000-33.000 EPS. On average, analysts expect that Sandisk Corporation will post 64.01 earnings per share for the current year.
Insider Activity at Sandisk
In other news, EVP Alper Ilkbahar sold 2,000 shares of Sandisk stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $1,756.58, for a total value of $3,513,160.00. Following the completion of the sale, the executive vice president directly owned 52,677 shares in the company, 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 legal filing with the SEC, which is available through this link. Also, Director Necip Sayiner sold 579 shares of the stock in a transaction that occurred 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 transaction, the director owned 2,900 shares in the company, valued at approximately $4,359,019. This trade represents a 16.64% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 5,625 shares of company stock worth $8,913,497 over the last quarter. 0.21% of the stock is currently owned by insiders.
Institutional Trading of Sandisk
A number of hedge funds have recently bought and sold shares of SNDK. Basecamp Wealth Advisors LLC boosted its position in Sandisk by 7.8% in the first quarter. Basecamp Wealth Advisors LLC now owns 333 shares of the data storage provider’s stock worth $212,000 after purchasing an additional 24 shares during the last quarter. Parallel Advisors LLC increased its position in shares of Sandisk by 233.3% during the 1st quarter. Parallel Advisors LLC now owns 1,430 shares of the data storage provider’s stock valued at $909,000 after purchasing an additional 1,001 shares during the last quarter. NewEdge Advisors LLC increased its position in shares of Sandisk by 187.2% during the 1st quarter. NewEdge Advisors LLC now owns 18,129 shares of the data storage provider’s stock valued at $11,518,000 after purchasing an additional 11,817 shares during the last quarter. Keel Point LLC bought a new position in shares of Sandisk in the 1st quarter worth approximately $314,000. Finally, Glenmede Trust Co. NA lifted its stake in shares of Sandisk by 76.4% in the 1st quarter. Glenmede Trust Co. NA now owns 2,754 shares of the data storage provider’s stock worth $1,750,000 after purchasing an additional 1,193 shares during the period.
Sandisk Company Profile
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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