Sandisk (NASDAQ:SNDK) Shares Up 6.8% – Still a Buy?

Sandisk Corporation (NASDAQ:SNDK)’s share price shot up 6.8% on Wednesday . The company traded as high as $1,734.69 and last traded at $1,727.18. 11,778,138 shares were traded during trading, a decline of 29% from the average session volume of 16,526,467 shares. The stock had previously closed at $1,617.70.

Key Headlines Impacting Sandisk

Here are the key news stories impacting Sandisk this week:

• Positive Sentiment: Several articles still point to a strong long-term case for Sandisk, citing surging revenue, tight NAND supply, and bullish analyst views that suggest the recent pullback could be a buying opportunity. The Memory Sector Selloff Could Be a Gift for SanDisk (SNDK) Investors
• Positive Sentiment: Sandisk’s business momentum remains strong, with coverage highlighting its massive year-to-date run, triple-digit growth, and improving datacenter demand that could support further upside if memory conditions stay tight. Can SanDisk Outperform the Semiconductor Sector in 2026?
• Positive Sentiment: Analysts remain constructive despite the selloff, with some notes saying Wall Street still sees more upside for Sandisk after the recent drop. SanDisk Stock Tumbles in Tech Sell-Off, but Wall Street Sees More Upside
• Neutral Sentiment: Market commentary is increasingly focused on whether the memory-stock complex is in a bear market, with investors debating whether Sandisk is now a value opportunity or a falling knife. Every Memory Stock Is Now in a Bear Market: Is Micron, SanDisk, or Applied Materials the Best Buy?
• Neutral Sentiment: Some recent pieces note Sandisk trading below its 50-day moving average amid broader tech volatility, reflecting technical weakness rather than a company-specific problem. SanDisk Shares Trade Below 50-Day Moving Average Amid Tech-Sector Volatility
• Negative Sentiment: Sandisk is falling with the broader tech and memory-chip rout, as traders take profits after a huge rally and rotate out of high-momentum AI hardware names. SanDisk (SNDK) Stock Plunges 20% Amid Tech Rout While Analysts Maintain Bullish Outlook
• Negative Sentiment: New worries are building that rising Chinese memory competition could squeeze margins for Sandisk and other incumbent chipmakers. SanDisk and Micron Risk Profit Squeeze from Chinese Memory Threat
• Negative Sentiment: Memory stocks sold off sharply after Samsung-related industry news triggered fears of a wider supply-demand reset, pressuring Sandisk shares along with peers like Micron and Western Digital. SanDisk stock drops as Samsung-led chip selloff hits memory sector

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the company. Wells Fargo & Company raised their price target on Sandisk from $975.00 to $1,250.00 and gave the stock an “equal weight” rating in a research note on Friday, May 1st. Morgan Stanley upped their price objective on Sandisk from $1,100.00 to $1,750.00 and gave the company an “overweight” rating in a research report on Wednesday, June 3rd. Royal Bank Of Canada raised their target price on Sandisk from $650.00 to $1,000.00 and gave the stock a “sector perform” rating in a research report on Friday, May 1st. Evercore restated an “outperform” rating and set a $1,400.00 price target on shares of Sandisk in a research note on Friday, May 1st. Finally, Weiss Ratings raised shares of Sandisk from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday. Two research analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $1,684.24.

Sandisk Trading Up 6.8%

The company has a market cap of $255.78 billion, a P/E ratio of 60.03 and a beta of 4.74. The business’s 50 day simple moving average is $1,679.01 and its 200 day simple moving average is $968.04.

Sandisk (NASDAQ:SNDK) last released its earnings results on Thursday, April 30th. The data storage provider reported $23.41 earnings per share for the quarter, beating analysts’ consensus estimates of $14.17 by $9.24. The company 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 firm’s quarterly revenue was up 251.0% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.30) EPS. Sandisk has set its Q4 2026 guidance at 30.000-33.000 EPS. Sell-side analysts anticipate that Sandisk Corporation will post 64.01 EPS for the current year.

Insiders Place Their Bets

In related news, Director Necip Sayiner sold 579 shares of Sandisk stock in a transaction that occurred on Friday, May 8th. The stock was 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 trade represents a 16.64% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, 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 transaction of $3,513,160.00. Following the sale, the executive vice president owned 52,677 shares in the company, valued at approximately $92,531,364.66. The trade was a 3.66% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 6,225 shares of company stock worth $10,166,297. Company insiders own 0.21% of the company’s stock.

Hedge Funds Weigh In On Sandisk

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Valley Wealth Managers Inc. purchased a new stake in shares of Sandisk during the 1st quarter valued at about $25,000. Whittier Trust Co. purchased a new position in Sandisk in the fourth quarter worth about $26,000. Greenline Wealth Management LLC bought a new stake in Sandisk during the fourth quarter worth approximately $26,000. Chung Wu Investment Group LLC bought a new stake in Sandisk during the fourth quarter worth approximately $27,000. Finally, IMG Wealth Management Inc. purchased a new stake in Sandisk during the first quarter valued at approximately $29,000.

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.