Sandisk (NASDAQ:SNDK) Shares Up 26% on Analyst Upgrade

Shares of Sandisk Corporation (NASDAQ:SNDK) were up 26% during mid-day trading on Thursday after Zacks Research upgraded the stock from a hold rating to a strong-buy rating. The company traded as high as $1,285.48 and last traded at $1,279.96. 23,384,505 shares traded hands during trading, an increase of 41% from the average daily volume of 16,526,291 shares. The stock had previously closed at $1,015.89.

Other equities analysts have also recently issued reports about the company. Wedbush boosted their price target on Sandisk from $1,200.00 to $2,000.00 and gave the stock an “outperform” rating in a report on Thursday, July 9th. Mizuho raised their price target on shares of Sandisk from $1,825.00 to $2,200.00 and gave the stock an “outperform” rating in a research note on Monday, June 8th. Raymond James Financial reissued an “outperform” rating and issued a $1,470.00 price objective on shares of Sandisk in a research report on Friday, May 1st. Sanford C. Bernstein lifted their target price on shares of Sandisk from $1,700.00 to $3,000.00 and gave the stock an “outperform” rating in a research note on Monday, June 29th. Finally, The Goldman Sachs Group reaffirmed a “buy” rating and issued a $1,200.00 price objective on shares of Sandisk in a research report on Friday, May 1st. Three research analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat, Sandisk presently has an average rating of “Moderate Buy” and a consensus target price of $1,811.38.

Insider Buying and Selling at Sandisk

In related news, CAO Michael Pokorny sold 2,446 shares of Sandisk stock in a transaction on Tuesday, May 12th. The shares were sold at an average price of $1,426.18, for a total transaction of $3,488,436.28. Following the sale, the chief accounting officer owned 22,375 shares of the company’s stock, valued at $31,910,777.50. The trade was a 9.85% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Necip Sayiner sold 579 shares of the stock in a transaction dated Friday, May 8th. The shares were sold at an average price of $1,503.11, for a total value of $870,300.69. Following the completion of the transaction, the director directly owned 2,900 shares of the company’s stock, valued at $4,359,019. This represents a 16.64% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 6,225 shares of company stock valued at $10,166,297 in the last quarter. Company insiders own 0.21% of the company’s stock.

Sandisk News Summary

Here are the key news stories impacting Sandisk this week:

• Positive Sentiment: AI infrastructure spending remains a major potential growth driver. Analysts point to more than $750 billion in expected 2026 Big Tech capital expenditures, which could support demand for Sandisk’s enterprise storage and memory products. Buy 5 AI Infrastructure Stocks as Big Tech’s Assure Lasting AI Frenzy
• Positive Sentiment: Microsoft’s roughly $190 billion capital-spending commitment and strong AI-related results helped revive optimism about data-center demand. Samsung also reported a sharp increase in chip profit and expects memory shortages to persist into 2028, supporting the broader industry outlook. Why Memory Stocks Are Roaring Back
• Positive Sentiment: Several bullish analyses argue that AI inference and enterprise storage may structurally improve NAND demand. Sandisk has reportedly exceeded earnings and revenue expectations for five consecutive quarters, while analysts have continued raising estimates. Sandisk’s Biggest Opportunity Yet
• Neutral Sentiment: Options traders expect a significant move around the August 5 earnings release. The event could bring a sharp rebound if results and guidance confirm AI demand, but it also creates elevated downside risk if expectations are missed. SanDisk Q4 Earnings Options Outlook
• Negative Sentiment: Investors remain concerned that Chinese competition could intensify another NAND downturn. Some analysts also warn that the AI boom may moderate before 2029, making Sandisk’s elevated valuation and ambitious price targets vulnerable. Sandisk Stock Slides as Chinese Competition Rattles NAND Outlook
• Negative Sentiment: The rapid reversal in memory stocks and recent forced selling have weakened sentiment, with Sandisk’s technical indicators reaching deeply oversold levels. That may attract bargain hunters, but it also highlights how sharply expectations and momentum have deteriorated. Is the Sandisk Stock Crash Over?

Hedge Funds Weigh In On Sandisk

Hedge funds have recently added to or reduced their stakes in the business. KERR FINANCIAL PLANNING Corp bought a new position in Sandisk in the second quarter worth about $34,000. Ramsey Quantitative Systems acquired a new position in Sandisk during the 2nd quarter valued at about $50,000. Elevation Wealth Partners LLC boosted its stake 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 purchasing an additional 16 shares during the period. Valley Wealth Managers Inc. bought a new position in Sandisk in the 1st quarter worth about $25,000. Finally, IMG Wealth Management Inc. acquired a new stake in shares of Sandisk in the first quarter valued at approximately $29,000.

Sandisk Price Performance

The stock has a fifty day moving average price of $1,729.14 and a two-hundred day moving average price of $1,116.58. The company has a market cap of $179.90 billion, a P/E ratio of 42.23 and a beta of 4.74.

Sandisk (NASDAQ:SNDK) last issued its quarterly earnings data on Thursday, April 30th. The data storage provider reported $23.41 earnings per share (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 last year, the company earned ($0.30) earnings per share. The business’s quarterly revenue was up 251.0% compared to the same quarter last year. As a group, analysts forecast that Sandisk Corporation will post 64.52 earnings per share for the current year.

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.