Sandisk (NASDAQ:SNDK) Trading 14.3% Higher – Here’s What Happened

Sandisk Corporation (NASDAQ:SNDK) was up 14.3% during mid-day trading on Tuesday . The company traded as high as $1,595.64 and last traded at $1,589.40. Approximately 13,555,326 shares were traded during trading, a decline of 17% from the average session volume of 16,386,246 shares. The stock had previously closed at $1,390.95.

More Sandisk News

Here are the key news stories impacting Sandisk this week:

• Positive Sentiment: Memory stocks are rising in premarket trading as investors continue to favor companies tied to AI infrastructure spending and constrained memory supply, a favorable setup for Sandisk. Why Micron, Sandisk, and SK Hynix Are Surging—And How to Play It
• Positive Sentiment: Analysts and market commentators say Sandisk remains a key AI storage beneficiary, with enterprise SSD and flash product expansion helping the company meet demand from data centers and AI infrastructure. Prediction: This Will Be Sandisk’s Stock Price by Mid-2027 (Hint: It Implies a Big Move)
• Positive Sentiment: Reports highlight stronger memory pricing dynamics, including forecasts for higher memory prices in the next quarter, which could improve Sandisk’s margins and revenue growth. Micron, Western Digital, and Sandisk Just Jumped 12% to 14%. Here’s the Forecast That Did It.
• Positive Sentiment: Multiple pieces note that Wall Street remains bullish on Sandisk’s valuation and growth prospects, citing discounted P/E levels versus its AI/NAND growth story. Sandisk Trades at 8.3X Discounted P/E: Time to Buy the Stock?
• Neutral Sentiment: Some articles frame the stock as highly momentum-driven and extremely extended after a huge run in 2026, suggesting volatility could stay elevated even if the longer-term outlook remains positive. Prediction: This Will Be Sandisk’s Stock Price by Mid-2027 (Hint: It Implies a Big Move)
• Negative Sentiment: One bearish Seeking Alpha view argues the AI enthusiasm may be fading and recommends selling Sandisk on concerns that the flash cycle could weaken. Sandisk: AI Euphoria Is Gone, Sell On Flash

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. Wells Fargo & Company increased their target price on Sandisk from $1,250.00 to $1,620.00 and gave the company an “equal weight” rating in a research note on Wednesday. Raymond James Financial reaffirmed an “outperform” rating and set a $1,470.00 price target on shares of Sandisk in a research note on Friday, May 1st. Sanford C. Bernstein upped their price objective on Sandisk from $1,700.00 to $3,000.00 and gave the stock an “outperform” rating in a report on Monday, June 29th. Argus started coverage on Sandisk in a research report on Wednesday, July 15th. They set a “hold” rating on the stock. Finally, Arete Research raised Sandisk from a “hold” rating to a “strong-buy” rating in a report on Monday, April 13th. Two research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $1,811.38.

Sandisk Trading Up 0.6%

The company has a market cap of $236.84 billion, a P/E ratio of 55.59 and a beta of 4.74. The company’s fifty day moving average is $1,748.90 and its 200 day moving average is $1,075.37.

Sandisk (NASDAQ:SNDK) last posted its quarterly earnings results on Thursday, April 30th. The data storage provider reported $23.41 earnings per share for the quarter, topping the consensus estimate of $14.17 by $9.24. Sandisk had a net margin of 34.19% and a return on equity of 44.06%. The business had revenue of $5.95 billion during the quarter. During the same period in the prior year, the firm earned ($0.30) earnings per share. The business’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. Analysts anticipate that Sandisk Corporation will post 64.52 EPS for the current year.

Insider Buying and Selling

In related news, EVP Alper Ilkbahar sold 2,000 shares of the stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $1,756.58, for a total transaction 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. This represents a 3.66% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Bernard Shek sold 600 shares of the firm’s stock in a transaction that occurred on Wednesday, July 1st. The stock was sold at an average price of $2,088.00, for a total value of $1,252,800.00. Following the transaction, the insider owned 31,515 shares in the company, valued at approximately $65,803,320. The trade was a 1.87% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 6,225 shares of company stock worth $10,166,297 in the last ninety days. Corporate insiders own 0.21% of the company’s stock.

Institutional Trading of Sandisk

Hedge funds and other institutional investors have recently bought and sold shares of the stock. KERR FINANCIAL PLANNING Corp purchased a new position in shares of Sandisk in the second quarter worth $34,000. Ramsey Quantitative Systems purchased a new stake in Sandisk during the 2nd quarter valued at $50,000. Elevation Wealth Partners LLC boosted its position in Sandisk by 114.3% during the 2nd quarter. Elevation Wealth Partners LLC now owns 30 shares of the data storage provider’s stock valued at $68,000 after buying an additional 16 shares during the period. Valley Wealth Managers Inc. bought a new stake in Sandisk in the 1st quarter worth $25,000. Finally, IMG Wealth Management Inc. bought a new stake in Sandisk in the 1st quarter worth $29,000.

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.