Sandisk (NASDAQ:SNDK) Shares Up 13.7% – Here’s Why

Sandisk Corporation (NASDAQ:SNDK)’s stock price shot up 13.7% on Thursday . The stock traded as high as $1,580.88 and last traded at $1,528.11. 21,681,423 shares were traded during trading, an increase of 32% from the average daily volume of 16,461,711 shares. The stock had previously closed at $1,344.29.

Key Headlines Impacting Sandisk

Here are the key news stories impacting Sandisk this week:

• Positive Sentiment: Sandisk unveiled ambitious multi-year financial targets, arguing that demand for NAND flash and other memory used in artificial-intelligence data centers can remain strong through the end of the decade. The outlook helped reassure investors following the stock’s recent volatility. SanDisk stock soars 15% today: here’s why
• Positive Sentiment: The company’s bullish targets also lifted broader memory and semiconductor-equipment shares, reflecting expectations that AI infrastructure spending will support prolonged demand for storage capacity. Sandisk Unveils Multi-Year Financial Model and Growth Strategy
• Positive Sentiment: Evercore ISI analyst Amit Daryanani reiterated a Buy rating and maintained a $2,800 price target, citing Sandisk’s long-term growth potential and cash-return profile. Argus also recently upgraded the stock to Buy. Analyst reiterates Buy on SanDisk
• Positive Sentiment: Recent earnings momentum remains a key support: revenue rose more than 370% year over year, while exceptionally high margins and stronger data-center exposure have increased expectations for cash generation, buybacks and shareholder returns. Sandisk and Kioxia also introduced AI-oriented flash technology with a reported 33% speed improvement. SanDisk, Kioxia Unveil AI-Ready Flash Tech

Wall Street Analyst Weigh In

Several research firms have recently issued reports on SNDK. Morgan Stanley upped their target price on shares of Sandisk from $1,100.00 to $1,750.00 and gave the stock an “overweight” rating in a research note on Wednesday, June 3rd. UBS Group set a $1,700.00 price objective on shares of Sandisk in a research report on Monday, May 4th. Susquehanna dropped their target price on shares of Sandisk from $3,250.00 to $3,050.00 and set a “positive” rating on the stock in a research report on Thursday, July 23rd. Wedbush upped their target price on Sandisk from $1,200.00 to $2,000.00 and gave the company an “outperform” rating in a report on Thursday, July 9th. Finally, The Goldman Sachs Group reiterated a “buy” rating and set a $1,200.00 price target on shares of Sandisk in a report on Friday, May 1st. Three research analysts have rated the stock with a Strong Buy rating, twenty have issued a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $1,853.14.

Sandisk Trading Up 13.7%

The company has a market cap of $226.30 billion, a P/E ratio of 20.96, a PEG ratio of 0.14 and a beta of 5.20. The business’s fifty day moving average is $1,670.86 and its 200 day moving average is $1,170.42.

Sandisk (NASDAQ:SNDK) last announced its quarterly earnings data on Wednesday, August 5th. The data storage provider reported $39.25 earnings per share for the quarter, beating the consensus estimate of $33.28 by $5.97. The business had revenue of $8.96 billion during the quarter. Sandisk had a return on equity of 87.84% and a net margin of 56.47%.Sandisk’s revenue for the quarter was up 371.6% on a year-over-year basis. During the same period last year, the company posted $0.29 earnings per share. Sandisk has set its Q1 2027 guidance at 44.000-46.000 EPS. As a group, research analysts expect that Sandisk Corporation will post 187.16 EPS 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 buyback $14.00 billion in shares. This buyback authorization permits the data storage provider to reacquire up to 6.6% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board believes its shares are undervalued.

Insider Activity

In other news, EVP Alper Ilkbahar sold 2,000 shares of Sandisk stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $1,756.58, for a total value of $3,513,160.00. Following the completion of the transaction, the executive vice president owned 52,677 shares in the company, valued at $92,531,364.66. This trade represents a 3.66% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Bernard Shek sold 600 shares of Sandisk stock in a transaction dated Monday, August 3rd. The stock was sold at an average price of $1,162.16, for a total transaction of $697,296.00. Following the completion of the transaction, the insider owned 30,915 shares of the company’s stock, valued at $35,928,176.40. The trade was a 1.90% 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. In the last three months, insiders sold 3,800 shares of company stock valued at $6,504,856. 0.21% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. BlackRock Inc. bought a new stake in Sandisk during the 2nd quarter valued at $23,408,732,000. State Street Corp lifted its position in shares of Sandisk by 20.7% during the fourth quarter. State Street Corp now owns 5,281,522 shares of the data storage provider’s stock worth $1,253,728,000 after acquiring an additional 904,933 shares in the last quarter. Geode Capital Management LLC boosted its holdings 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 grew its position in shares of Sandisk by 31.3% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 3,478,002 shares of the data storage provider’s stock valued at $825,608,000 after purchasing an additional 828,332 shares in the last quarter. Finally, Morgan Stanley raised 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 valued at $705,105,000 after purchasing an additional 199,545 shares during the period.

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.