Sandisk (NASDAQ:SNDK) Shares Up 6.8% – Here’s What Happened

Sandisk Corporation (NASDAQ:SNDK)’s stock price was up 6.8% during trading on Tuesday . The stock traded as high as $1,909.48 and last traded at $1,887.04. 12,740,605 shares were traded during mid-day trading, a decline of 19% from the average session volume of 15,796,056 shares. The stock had previously closed at $1,766.64.

Sandisk News Roundup

Here are the key news stories impacting Sandisk this week:

• Positive Sentiment: Rosenblatt’s Buy rating and $2,400 target provided a fresh valuation catalyst. Cassidy expects AI-driven demand for storage and NAND flash to support SanDisk’s growth and potentially shift the market’s view of NAND from a commodity product to strategic AI infrastructure. SanDisk Just Scored a New Buy Rating
• Positive Sentiment: Memory stocks benefited from a broader rotation into semiconductor and AI-related shares. Falling oil prices also eased inflation concerns, helping support risk appetite across technology stocks and lifting sentiment toward SanDisk and its peers. Why Memory Stocks Are Rising
• Positive Sentiment: SanDisk’s recent fundamentals remain supportive: the company reported record quarterly results, sharply higher year-over-year revenue, strong margins and earnings above expectations. Its previously authorized $14 billion share-repurchase program may also reinforce the shareholder-return story.
• Neutral Sentiment: SanDisk’s addition to the S&P 100 may generate some index-related buying and improve visibility, although the expected flow is relatively small compared with the stock’s normal trading volume. The more important driver appears to be AI-related NAND demand rather than index inclusion. SanDisk Joins the S&P 100
• Negative Sentiment: Investors continue to face risks from NAND’s cyclical pricing, potential margin normalization, weaker consumer demand and increasing Chinese competition. Analysts have also questioned whether current earnings represent a peak, leaving the stock vulnerable if AI-related demand or memory prices weaken.
• Negative Sentiment: CEO David Goeckeler recently sold approximately $53.3 million of shares under a pre-arranged Rule 10b5-1 plan. The sale is not necessarily discretionary, but repeated insider selling could still concern some investors. SEC Insider Transaction Filing

Wall Street Analysts Forecast Growth

Several research firms have weighed in on SNDK. Evercore reiterated an “outperform” rating on shares of Sandisk in a research report on Thursday, August 13th. Cantor Fitzgerald reiterated an “overweight” rating and set a $2,900.00 price target on shares of Sandisk in a report on Monday, August 10th. Weiss Ratings lowered Sandisk from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Thursday, September 10th. Royal Bank Of Canada increased their price objective on Sandisk from $1,300.00 to $1,600.00 and gave the stock a “sector perform” rating in a research note on Friday, August 14th. Finally, Wedbush restated an “outperform” rating and set a $2,000.00 price objective on shares of Sandisk in a research report on Friday, August 14th. Two research analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $2,015.61.

Sandisk Stock Performance

The company has a 50 day moving average of $1,502.53 and a 200 day moving average of $1,370.55. The firm has a market cap of $276.30 billion, a P/E ratio of 25.89, a PEG ratio of 0.18 and a beta of 5.17.

Sandisk (NASDAQ:SNDK) last issued its quarterly earnings data on Wednesday, August 5th. The data storage provider reported $39.25 earnings per share for the quarter, beating the consensus estimate of $33.28 by $5.97. The firm had revenue of $8.96 billion for the quarter. Sandisk had a net margin of 56.47% and a return on equity of 87.84%. Sandisk’s revenue was up 371.6% compared to the same quarter last year. During the same period in the previous year, the business posted $0.29 EPS. Sandisk has set its Q1 2027 guidance at 44.000-46.000 EPS. As a group, analysts expect that Sandisk Corporation will post 208.92 EPS for the current fiscal year.

Sandisk declared that its Board of Directors has approved a stock buyback program on Wednesday, August 5th that allows the company to buyback $14.00 billion in outstanding shares. This buyback authorization allows the data storage provider to reacquire up to 6.6% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.

Insider Buying and Selling at Sandisk

In related news, insider Bernard Shek sold 2,308 shares of Sandisk stock in a transaction on Tuesday, September 8th. The shares were sold at an average price of $1,767.33, for a total value of $4,078,997.64. Following the completion of the sale, the insider owned 25,305 shares of the company’s stock, valued at approximately $44,722,285.65. The trade was a 8.36% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Alper Ilkbahar sold 4,712 shares of the company’s stock in a transaction on Thursday, September 3rd. The stock was sold at an average price of $1,540.58, for a total transaction of $7,259,212.96. Following the completion of the sale, the executive vice president owned 44,134 shares of the company’s stock, valued at $67,991,957.72. This represents a 9.65% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 77,899 shares of company stock worth $121,370,958 over the last quarter. Company insiders own 0.21% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. BlackRock Inc. acquired a new stake in Sandisk in the 2nd quarter worth approximately $23,408,732,000. Situational Awareness LP grew its holdings in Sandisk by 42.4% during the second quarter. Situational Awareness LP now owns 2,495,344 shares of the data storage provider’s stock valued at $5,673,739,000 after purchasing an additional 743,325 shares during the last quarter. Wellington Management Group LLP grew its holdings in Sandisk by 71.2% during the second quarter. Wellington Management Group LLP now owns 1,066,886 shares of the data storage provider’s stock valued at $2,425,811,000 after purchasing an additional 443,714 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of Sandisk by 57.4% in the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 726,722 shares of the data storage provider’s stock valued at $1,652,370,000 after purchasing an additional 264,935 shares during the period. Finally, Bank of New York Mellon Corp bought a new position in shares of Sandisk in the second quarter valued at approximately $1,621,353,000.

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.