Sandisk (NASDAQ:SNDK) Shares Down 1.8% – Here’s Why

Sandisk Corporation (NASDAQ:SNDK) dropped 1.8% during mid-day trading on Friday. The company traded as low as $1,228.89 and last traded at $1,238.03. Approximately 7,828,629 shares traded hands during trading, a decline of 48% from the average session volume of 14,913,363 shares. The stock had previously closed at $1,260.93.

Trending Headlines about Sandisk

Here are the key news stories impacting Sandisk this week:

• Positive Sentiment: A broader semiconductor rebound lifted memory stocks, with investors buying back some of the shares hit during the previous session’s technology-led selloff. This improved sentiment toward Sandisk, Micron, and SK Hynix. Why are Micron, SK Hynix, and SanDisk stocks climbing on Friday?
• Positive Sentiment: Several bullish analyses argue that NAND supply could remain constrained through 2028 as AI data centers increase storage requirements. Sandisk also reportedly has nearly $94 billion in signed customer contracts, supporting long-term revenue visibility. SanDisk Falters for 3 Months But One Top-Tier Institutional Desk Is Sure It’s Going to Nearly Triple
• Positive Sentiment: Mizuho analyst Lloyd Walmsley maintained a Buy view and a $2,050 target, citing firm NAND pricing and potential upside from enterprise solid-state drives. Investors are also looking ahead to Sandisk’s October 29 earnings report for stronger guidance. Analyst Lloyd Walmsley Initiates Buy on Sandisk
• Neutral Sentiment: Commentary on the AI-stock rout suggests fears that hyperscalers will curtail capital expenditures are exaggerated, but the debate remains a major source of volatility for memory and storage stocks. The AI Rout: Sorting CAPEX Fact From Fiction
• Negative Sentiment: Investors remain concerned that the high cost of AI infrastructure could slow future data-center spending and chip demand. Those worries recently drove broad selling in memory stocks despite Sandisk’s favorable business outlook, leaving the stock well below its recent peak. SanDisk Stock Drops as AI Cost Worries Mount

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the stock. Susquehanna lowered their target price on shares of Sandisk from $3,050.00 to $2,745.00 and set a “positive” rating for the company in a research note on Thursday, August 6th. Wedbush reissued an “outperform” rating and set a $2,000.00 price target on shares of Sandisk in a research report on Friday, August 14th. BNP Paribas Exane lowered their price objective on shares of Sandisk from $1,900.00 to $1,400.00 in a research report on Thursday, August 6th. Weiss Ratings downgraded Sandisk from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday, October 14th. Finally, Evercore reiterated an “outperform” rating and set a $3,100.00 target price (up from $1,400.00) on shares of Sandisk in a report on Thursday, August 13th. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $2,120.65.

Sandisk Stock Down 1.8%

The company’s fifty day moving average price is $1,603.49 and its two-hundred day moving average price is $1,522.08. The company has a market cap of $178.93 billion, a price-to-earnings ratio of 16.98, a PEG ratio of 0.14 and a beta of 5.23.

Sandisk (NASDAQ:SNDK) last issued its quarterly earnings data on Wednesday, August 5th. The data storage provider reported $39.25 EPS for the quarter, topping analysts’ consensus estimates of $33.28 by $5.97. The business 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%. The company’s revenue was up 371.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.29 earnings per share. Sandisk has set its Q1 2027 guidance at 44.000-46.000 EPS. On average, equities research analysts predict that Sandisk Corporation will post 208.94 earnings per share for the current fiscal year.

Sandisk declared that its board has authorized a stock repurchase program on Wednesday, August 5th that permits the company to repurchase $14.00 billion in shares. This buyback authorization permits the data storage provider to purchase up to 6.6% of its shares through open market purchases. Share buyback programs are usually a sign that the company’s board of directors believes its stock is undervalued.

Insider Buying and Selling at Sandisk

In other Sandisk news, CFO Luis Visoso sold 1,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 15th. The stock was sold at an average price of $1,568.83, for a total value of $1,568,830.00. Following the completion of the transaction, the chief financial officer directly owned 130,976 shares in the company, valued at $205,479,078.08. This trade represents a 0.76% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO David Goeckeler sold 33,841 shares of the business’s stock in a transaction on Thursday, September 17th. The stock was sold at an average price of $1,574.21, for a total transaction of $53,272,840.61. Following the transaction, the chief executive officer owned 382,865 shares in the company, valued at approximately $602,709,911.65. The trade was a 8.12% 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. Over the last ninety days, insiders have sold 77,899 shares of company stock worth $121,159,122. Company insiders own 0.29% of the company’s stock.

Institutional Trading of Sandisk

Several institutional investors and hedge funds have recently bought and sold shares of SNDK. Simplicity Wealth LLC raised its stake in Sandisk by 20.8% in the 3rd quarter. Simplicity Wealth LLC now owns 540 shares of the data storage provider’s stock valued at $940,000 after acquiring an additional 93 shares during the period. Carolina Wealth Advisors LLC boosted its holdings in Sandisk by 3.1% in the 3rd quarter. Carolina Wealth Advisors LLC now owns 1,381 shares of the data storage provider’s stock valued at $2,403,000 after purchasing an additional 41 shares during the period. Sowell Financial Services LLC grew its position in Sandisk by 351.0% during the third quarter. Sowell Financial Services LLC now owns 920 shares of the data storage provider’s stock worth $1,601,000 after buying an additional 716 shares in the last quarter. Evergreen Capital Management LLC increased its position in shares of Sandisk by 5.0% in the third quarter. Evergreen Capital Management LLC now owns 6,325 shares of the data storage provider’s stock worth $11,005,000 after purchasing an additional 300 shares during the period. Finally, Gibbs Wealth Management grew its stake in Sandisk by 102.0% during the third quarter. Gibbs Wealth Management now owns 299 shares of the data storage provider’s stock worth $520,000 after buying an additional 151 shares in the last quarter.

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.