Sandisk (NASDAQ:SNDK) Shares Down 1.7% – Here’s What Happened

Sandisk Corporation (NASDAQ:SNDK)’s share price was down 1.7% during trading on Friday. The stock traded as low as $1,575.69 and last traded at $1,581.82. 5,547,941 shares traded hands during mid-day trading, a decline of 64% from the average daily volume of 15,235,943 shares. The stock had previously closed at $1,609.46.

Sandisk News Summary

Here are the key news stories impacting Sandisk this week:

• Positive Sentiment: Sandisk’s fiscal fourth-quarter results highlighted exceptional operating momentum: revenue rose 372% year over year to approximately $8.97 billion, while gross margin reached 84.6%. The company also exceeded consensus EPS expectations and issued fiscal Q1 2027 EPS guidance of $44–$46. Sandisk Posted an 84.6% Margin Quarter
• Positive Sentiment: Analysts and industry commentary continue to point to durable AI-driven demand for data-center storage. Tight supply across the AI hardware chain could support memory pricing, revenue growth, and Sandisk’s profitability for years if demand remains elevated. SanDisk’s AI Storage Boom May Have Years to Run
• Positive Sentiment: Mizuho raised its Sandisk price target by $175, citing expected demand from agentic AI. The upgrade reinforces the bullish view that storage requirements will expand alongside increasingly capable AI systems. Mizuho Raises Sandisk Price Target
• Neutral Sentiment: Sandisk’s forward earnings multiple appears modest relative to its growth and profitability, but investors are debating whether current earnings represent a sustainable new growth phase or a cyclical peak. The stock’s substantial prior appreciation raises the bar for future results. Sandisk Posted an 84.6% Margin Quarter
• Negative Sentiment: Memory stocks sold off after Samsung’s preliminary revenue results disappointed, reviving concerns about industry demand, pricing, and the sustainability of elevated valuations. Higher Treasury yields, oil prices, and broader technology-sector pressure added to the risk-off tone. The Memory Trade Cools After Samsung Results

Wall Street Analyst Weigh In

A number of analysts have issued reports on SNDK shares. Sanford C. Bernstein reissued an “outperform” rating and issued a $3,000.00 price target (up from $1,700.00) on shares of Sandisk in a research note on Thursday, August 6th. Wells Fargo & Company boosted their target price on shares of Sandisk from $1,400.00 to $1,550.00 and gave the company an “equal weight” rating in a report on Thursday, August 13th. Citigroup reaffirmed a “buy” rating on shares of Sandisk in a research report on Thursday, October 1st. Evercore reiterated an “outperform” rating and issued a $3,100.00 price target (up from $1,400.00) on shares of Sandisk in a report on Thursday, August 13th. Finally, Weiss Ratings raised shares of Sandisk from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday, September 24th. Two research 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 stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $2,120.65.

Sandisk Stock Down 1.7%

The stock has a market cap of $228.62 billion, a PE ratio of 21.70, a price-to-earnings-growth ratio of 0.17 and a beta of 5.23. The company’s fifty day moving average is $1,585.66 and its 200 day moving average is $1,469.83.

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. The company had revenue of $8.96 billion during 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% on a year-over-year basis. During the same period in the previous year, the company earned $0.29 EPS. 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 has approved a stock repurchase plan on Wednesday, August 5th that authorizes the company to repurchase $14.00 billion in outstanding shares. This repurchase authorization authorizes the data storage provider to repurchase up to 6.6% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.

Insider Buying and Selling

In other news, CEO David Goeckeler sold 33,841 shares of Sandisk 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 sale, the chief executive officer owned 382,865 shares in the company, valued at $602,709,911.65. This trade represents a 8.12% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Bernard Shek sold 2,308 shares of the stock in a transaction dated 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 transaction, the insider directly owned 25,305 shares of the company’s stock, valued at $44,722,285.65. This represents a 8.36% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders have sold 77,899 shares of company stock worth $121,159,122. 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 company. BlackRock Inc. acquired a new stake in shares of Sandisk during the second quarter worth $23,408,732,000. Situational Awareness LP boosted its stake 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 acquiring an additional 743,325 shares during the period. Wellington Management Group LLP grew its holdings in shares of 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 grew its holdings in shares of Sandisk by 57.4% during 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 last quarter. Finally, Bank of New York Mellon Corp acquired a new position in Sandisk during the 2nd quarter valued at 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.