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

Sandisk Corporation (NASDAQ:SNDK)’s share price gapped up before the market opened on Tuesday . The stock had previously closed at $1,673.97, but opened at $1,807.00. Sandisk shares last traded at $1,740.9590, with a volume of 2,422,536 shares.

Key Sandisk News

Here are the key news stories impacting Sandisk this week:

• Positive Sentiment: Analysts remain bullish despite the pullback, with Wedbush, BofA and Bernstein lifting price targets and some commentary arguing the AI memory boom still has room to run. Wedbush Pounds the Table—Buy Sandisk Before August 5 Earnings
• Positive Sentiment: Several articles highlight strong recent earnings, improving memory pricing and AI-driven demand as reasons investors still see upside ahead of SanDisk’s Aug. 5 earnings report. What’s Going on With Sandisk Stock Wednesday?
• Neutral Sentiment: Argus initiated coverage with a Hold, saying the stock has already had a big post-spin-off rally and that investors may need either a pullback or clearer earnings acceleration before paying up again. Analyst Maintains Hold on SanDisk After Post–Spin-Off Rally
• Negative Sentiment: Profit-taking is hitting the entire memory complex, and SanDisk is being sold alongside Micron, Western Digital and SK Hynix as traders lock in gains after a steep multi-month rally. Dell, Micron, SanDisk tumble as AI hardware rally hits reversal
• Negative Sentiment: More cautious commentary says the best part of the rally could be over, with some investors worrying that the stock’s valuation and momentum have outrun fundamentals for now. Sandisk: The Best Part Of The Rally Could Be Over

Analyst Upgrades and Downgrades

SNDK has been the subject of several recent research reports. Bank of America boosted their price target on Sandisk from $2,100.00 to $2,500.00 and gave the stock a “buy” rating in a research report on Wednesday, July 1st. Jefferies Financial Group reiterated a “buy” rating and issued a $1,400.00 target price on shares of Sandisk in a research note on Friday, May 1st. Sanford C. Bernstein boosted their target price on shares of Sandisk from $1,700.00 to $3,000.00 and gave the stock an “outperform” rating in a report on Monday, June 29th. Zacks Research lowered shares of Sandisk from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 1st. Finally, KGI Securities started coverage on shares of Sandisk in a report on Wednesday, March 18th. They issued an “outperform” rating and a $992.00 price target on the stock. Two analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, Sandisk presently has a consensus rating of “Moderate Buy” and an average target price of $1,803.29.

Sandisk Stock Performance

The business’s 50 day moving average is $1,748.98 and its 200 day moving average is $1,032.16. The company has a market capitalization of $239.17 billion, a price-to-earnings ratio of 56.13 and a beta of 4.74.

Sandisk (NASDAQ:SNDK) last issued its quarterly earnings results on Thursday, April 30th. The data storage provider reported $23.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $14.17 by $9.24. The business had revenue of $5.95 billion for the quarter. Sandisk had a net margin of 34.19% and a return on equity of 44.06%. The company’s revenue for the quarter was up 251.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.30) EPS. Sandisk has set its Q4 2026 guidance at 30.000-33.000 EPS. Sell-side analysts predict that Sandisk Corporation will post 64.95 EPS for the current year.

Insider Activity at Sandisk

In related news, EVP Alper Ilkbahar sold 2,000 shares of the company’s stock in a transaction on Monday, June 1st. The stock was sold at an average price of $1,756.58, for a total value of $3,513,160.00. Following the transaction, the executive vice president directly owned 52,677 shares of the company’s stock, valued at $92,531,364.66. This represents a 3.66% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Bernard Shek sold 600 shares of the stock in a transaction dated Wednesday, July 1st. The shares were sold at an average price of $2,088.00, for a total value of $1,252,800.00. Following the completion of the transaction, the insider directly owned 31,515 shares in the company, valued at $65,803,320. This represents a 1.87% 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 sold 6,225 shares of company stock valued at $10,166,297 over the last three months. 0.21% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Sandisk

A number of hedge funds and other institutional investors have recently made changes to their positions in SNDK. State Street Corp grew its position in Sandisk by 20.7% during the fourth quarter. State Street Corp now owns 5,281,522 shares of the data storage provider’s stock valued at $1,253,728,000 after buying an additional 904,933 shares during the period. Geode Capital Management LLC raised its position in shares of Sandisk by 44.9% in the fourth quarter. Geode Capital Management LLC now owns 3,655,860 shares of the data storage provider’s stock worth $866,310,000 after acquiring an additional 1,133,276 shares during the period. Arrowstreet Capital Limited Partnership boosted its stake in shares of Sandisk by 31.3% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 3,478,002 shares of the data storage provider’s stock worth $825,608,000 after acquiring an additional 828,332 shares in the last quarter. Morgan Stanley boosted its stake in shares of Sandisk by 7.2% during the 4th quarter. Morgan Stanley now owns 2,970,361 shares of the data storage provider’s stock worth $705,105,000 after acquiring an additional 199,545 shares in the last quarter. Finally, Norges Bank acquired a new stake in shares of Sandisk during the 4th quarter valued at about $518,889,000.

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.