Sandisk (NASDAQ:SNDK) Shares Climb 2.7% – Should You Buy?

Shares of Sandisk Corporation (NASDAQ:SNDK) traded up 2.7% on Thursday. The stock traded as high as $1,802.00 and last traded at $1,787.69. 9,129,672 shares traded hands during trading, a decline of 41% from the average session volume of 15,477,279 shares. The stock had previously closed at $1,739.89.

Key Sandisk News

Here are the key news stories impacting Sandisk this week:

• Positive Sentiment: Tight NAND supply supports pricing and margins. Citi maintained its Buy rating and $2,100 price target, citing stronger memory pricing and the potential for NAND supply to remain tight through 2028. Micron’s 42% sequential NAND-revenue growth reinforced the view that demand is accelerating. Sandisk Stock: AI Storage Boom Could Keep NAND Supply Tight Through 2028
• Positive Sentiment: AI infrastructure is expanding the addressable market. Growing data-center investment is increasing demand for enterprise SSDs and NAND-based products, supporting Sandisk’s pivot toward higher-value data-center contracts. Sandisk Bets on AI and Enterprise SSDs
• Positive Sentiment: Analysts see additional upside. Bernstein reportedly projects substantial appreciation potential despite the stock’s third-quarter pullback, while other coverage argues that Sandisk’s earnings growth, margins and data-center exposure could support a move toward $2,000 or higher. Bernstein Projects 73% Rally Despite Q3 Decline
• Neutral Sentiment: Fiscal first-quarter results are the next major catalyst. Sandisk will report results on October 29, 2026. Investors will focus on whether its guidance of $44–$46 in EPS and continued data-center demand can justify the stock’s elevated valuation. Sandisk to Report First-Quarter Fiscal 2027 Results
• Negative Sentiment: Risks remain from cyclicality and valuation. Sandisk’s stock fell 17% during the third quarter, and a potential 2027 downturn in consumer and edge NAND could pressure results. The shift to long-term data-center contracts may reduce volatility, but could also limit upside if pricing weakens or AI infrastructure spending slows. Sandisk Is Selling the Top of Its Edge Business

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the stock. BNP Paribas Exane lowered their target price on shares of Sandisk from $1,900.00 to $1,400.00 in a report on Thursday, August 6th. Sanford C. Bernstein reaffirmed an “outperform” rating and set a $3,000.00 price target (up from $1,700.00) on shares of Sandisk in a research note on Thursday, August 6th. Arete Research lifted their price target on shares of Sandisk from $2,300.00 to $3,000.00 and gave the company a “buy” rating in a report on Thursday, August 27th. Evercore reissued an “outperform” rating and set a $3,100.00 price objective (up from $1,400.00) on shares of Sandisk in a research note on Thursday, August 13th. Finally, China Renaissance increased their target price on Sandisk from $2,000.00 to $2,250.00 and gave the stock a “buy” rating in a research report on Wednesday, August 19th. Two analysts have rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $2,113.92.

Sandisk Stock Up 2.7%

The stock has a market cap of $261.75 billion, a PE ratio of 24.52, a price-to-earnings-growth ratio of 0.17 and a beta of 5.17. The company’s fifty day moving average is $1,536.52 and its 200 day moving average is $1,428.61.

Sandisk (NASDAQ:SNDK) last released its quarterly earnings data on Wednesday, August 5th. The data storage provider reported $39.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $33.28 by $5.97. Sandisk had a net margin of 56.47% and a return on equity of 87.84%. The company had revenue of $8.96 billion during the quarter. During the same quarter in the prior year, the firm earned $0.29 earnings per share. Sandisk’s quarterly revenue was up 371.6% compared to the same quarter last year. Sandisk has set its Q1 2027 guidance at 44.000-46.000 EPS. Equities analysts expect that Sandisk Corporation will post 208.94 EPS for the current year.

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

Insider Buying and Selling

In other Sandisk news, EVP Alper Ilkbahar sold 4,712 shares of the company’s stock in a transaction that occurred on Thursday, September 3rd. The stock was sold at an average price of $1,540.58, for a total value of $7,259,212.96. Following the completion of the transaction, the executive vice president owned 44,134 shares in the company, valued at $67,991,957.72. This represents a 9.65% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO David Goeckeler sold 33,841 shares of the stock in a transaction that occurred on Thursday, September 17th. The shares were sold at an average price of $1,574.21, for a total transaction of $53,272,840.61. Following the completion of the sale, the chief executive officer directly owned 382,865 shares of the company’s stock, valued at $602,709,911.65. This trade represents a 8.12% decrease in their position. 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 sold 77,299 shares of company stock worth $120,118,158 over the last three months. 0.21% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Sandisk

A number of institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. purchased a new stake in shares of Sandisk during the second quarter worth about $23,408,732,000. Situational Awareness LP boosted its holdings in Sandisk by 42.4% in 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 stake in Sandisk by 71.2% during the 2nd 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 in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in Sandisk by 57.4% during the 2nd 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 worth $1,652,370,000 after purchasing an additional 264,935 shares during the last quarter. Finally, Bank of New York Mellon Corp purchased a new stake in Sandisk during the 2nd quarter worth approximately $1,621,353,000.

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.