Sandisk (NASDAQ:SNDK) Shares Gap Up – What’s Next?

Shares of Sandisk Corporation (NASDAQ:SNDK) gapped up prior to trading on Monday . The stock had previously closed at $206.18, but opened at $214.45. Sandisk shares last traded at $205.62, with a volume of 3,633,072 shares changing hands.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. Morgan Stanley raised their price objective on Sandisk from $263.00 to $273.00 and gave the company an “overweight” rating in a research note on Monday, November 24th. Susquehanna lifted their price target on Sandisk from $250.00 to $300.00 and gave the stock a “positive” rating in a report on Monday, December 8th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Sandisk in a research report on Monday, December 8th. Sanford C. Bernstein upgraded shares of Sandisk to a “strong-buy” rating in a research report on Tuesday, September 16th. Finally, Wall Street Zen raised shares of Sandisk from a “hold” rating to a “strong-buy” rating in a research report on Saturday, November 15th. Three equities research analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $213.33.

Sandisk Trading Down 1.1%

The firm’s 50-day simple moving average is $197.54 and its 200-day simple moving average is $105.64. The firm has a market capitalization of $29.87 billion and a P/E ratio of 637.03. The company has a quick ratio of 2.03, a current ratio of 3.29 and a debt-to-equity ratio of 0.14.

Sandisk (NASDAQ:SNDK) last posted its quarterly earnings data on Thursday, November 6th. The data storage provider reported $1.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.58 by $0.64. The company had revenue of $2.31 billion for the quarter, compared to the consensus estimate of $2.12 billion. The firm’s quarterly revenue was up 22.6% on a year-over-year basis. Sandisk has set its Q2 2026 guidance at 3.000-3.40 EPS.

Insider Activity at Sandisk

In related news, Director Necip Sayiner sold 1,271 shares of Sandisk stock in a transaction on Wednesday, December 3rd. The shares were sold at an average price of $195.14, for a total value of $248,022.94. Following the transaction, the director owned 3,479 shares in the company, valued at $678,892.06. This trade represents a 26.76% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.21% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Vanguard Group Inc. bought a new position in Sandisk during the 3rd quarter worth approximately $1,970,388,000. State Street Corp purchased a new stake in shares of Sandisk during the third quarter worth about $491,053,000. Arrowstreet Capital Limited Partnership purchased a new position in Sandisk during the 3rd quarter valued at about $297,293,000. Bank of America Corp DE bought a new position in Sandisk during the 3rd quarter valued at approximately $190,425,000. Finally, AQR Capital Management LLC purchased a new stake in Sandisk in the 3rd quarter worth approximately $163,057,000.

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.