Sandisk (NASDAQ:SNDK) Trading 7.2% Higher on Analyst Upgrade

Shares of Sandisk Corporation (NASDAQ:SNDK) traded up 7.2% during mid-day trading on Thursday after Benchmark raised their price target on the stock from $260.00 to $450.00. Benchmark currently has a buy rating on the stock. Sandisk traded as high as $420.00 and last traded at $415.88. 3,077,235 shares were traded during trading, a decline of 78% from the average session volume of 13,833,097 shares. The stock had previously closed at $387.81.

Other research analysts have also issued research reports about the company. Barclays set a $385.00 target price on Sandisk in a research report on Thursday. JPMorgan Chase & Co. assumed coverage on shares of Sandisk in a research report on Monday, December 8th. They set a “neutral” rating and a $235.00 price objective for the company. Susquehanna increased their price objective on shares of Sandisk from $250.00 to $300.00 and gave the company a “positive” rating in a report on Monday, December 8th. China Renaissance started coverage on shares of Sandisk in a research note on Friday, December 5th. They set a “buy” rating and a $322.00 target price for the company. Finally, Fox Advisors upgraded shares of Sandisk from a “hold” rating to a “strong-buy” rating in a research report on Friday, November 7th. Two research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $308.95.

Insider Activity

In other news, Director Necip Sayiner sold 1,271 shares of the company’s stock in a transaction on Wednesday, December 3rd. The shares were sold at an average price of $195.14, for a total transaction of $248,022.94. Following the completion of the sale, the director owned 3,479 shares of the company’s stock, valued at $678,892.06. This represents a 26.76% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.21% of the stock is owned by insiders.

Hedge Funds Weigh In On Sandisk

A number of institutional investors and hedge funds have recently bought and sold shares of SNDK. Osaic Holdings Inc. acquired a new stake in Sandisk in the 2nd quarter valued at about $317,000. Corient Private Wealth LLC purchased a new stake in shares of Sandisk in the second quarter valued at approximately $353,000. Praxis Investment Management Inc. acquired a new stake in shares of Sandisk in the third quarter valued at approximately $533,000. GAMMA Investing LLC acquired a new stake in shares of Sandisk in the third quarter valued at approximately $439,000. Finally, Voya Investment Management LLC purchased a new position in Sandisk during the third quarter worth approximately $8,917,000.

Sandisk Price Performance

The company has a debt-to-equity ratio of 0.14, a current ratio of 3.29 and a quick ratio of 2.03. The stock has a 50 day simple moving average of $252.01 and a two-hundred day simple moving average of $143.14. The company has a market cap of $60.95 billion and a price-to-earnings ratio of 1,299.63.

Sandisk (NASDAQ:SNDK) last issued its earnings results 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 during the quarter, compared to analyst estimates of $2.12 billion. The firm’s revenue was up 22.6% on a year-over-year basis. Sandisk has set its Q2 2026 guidance at 3.000-3.40 EPS.

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.