Sandisk (NASDAQ:SNDK) Stock Price Down 5.9% – What’s Next?

Sandisk Corporation (NASDAQ:SNDK) dropped 5.9% during trading on Tuesday . The stock traded as low as $192.80 and last traded at $197.81. Approximately 6,812,071 shares were traded during mid-day trading, an increase of 21% from the average daily volume of 5,644,710 shares. The stock had previously closed at $210.17.

Analyst Ratings Changes

SNDK has been the subject of a number of recent analyst reports. Citigroup boosted their target price on Sandisk from $150.00 to $280.00 and gave the stock a “buy” rating in a research report on Friday, November 7th. Mizuho boosted their price objective on shares of Sandisk to $215.00 and gave the company an “outperform” rating in a report on Tuesday, October 28th. Morgan Stanley increased their price objective on shares of Sandisk from $263.00 to $273.00 and gave the company an “overweight” rating in a research report on Monday, November 24th. Benchmark lifted their target price on shares of Sandisk from $125.00 to $260.00 and gave the stock a “buy” rating in a research report on Friday, November 7th. Finally, Zacks Research upgraded shares of Sandisk from a “hold” rating to a “strong-buy” rating in a research note on Friday, November 14th. Three equities research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, six have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Sandisk has a consensus rating of “Moderate Buy” and an average target price of $193.88.

Sandisk Stock Performance

The business’s fifty day moving average is $177.95 and its 200-day moving average is $94.24. The company has a quick ratio of 2.03, a current ratio of 3.29 and a debt-to-equity ratio of 0.14. The company has a market cap of $30.13 billion and a PE ratio of 642.47.

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

Hedge Funds Weigh In On Sandisk

Several institutional investors and hedge funds have recently bought and sold shares of SNDK. Osaic Holdings Inc. bought a new stake in Sandisk during the second quarter valued at about $317,000. Corient Private Wealth LLC bought a new position in shares of Sandisk in the second quarter worth about $353,000. Praxis Investment Management Inc. purchased a new position in shares of Sandisk during the 3rd quarter valued at about $533,000. GAMMA Investing LLC purchased a new position in shares of Sandisk during the 3rd quarter valued at about $439,000. Finally, Voya Investment Management LLC bought a new position in shares of Sandisk during the 3rd quarter valued at approximately $8,917,000.

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.