Sandisk (NASDAQ:SNDK) Trading Down 12.6% – Here’s Why

Sandisk Corporation (NASDAQ:SNDK)’s share price fell 12.6% during mid-day trading on Thursday . The stock traded as low as $1,390.04 and last traded at $1,411.08. Approximately 16,970,563 shares were traded during mid-day trading, an increase of 3% from the average daily volume of 16,415,512 shares. The stock had previously closed at $1,615.00.

Key Headlines Impacting Sandisk

Here are the key news stories impacting Sandisk this week:

• Positive Sentiment: Sandisk launched Fab2 with Kioxia as BiCS10 sampling begins, reinforcing its position in advanced NAND memory production and long-term supply growth. Sandisk (SNDK) Launches Fab2 With Kioxia As BiCS10 Sampling Begins
• Positive Sentiment: Some analysts remain constructive on the memory cycle, noting AI infrastructure spending is still boosting demand and that Sandisk may still have upside despite the sell-off. SNDK vs. MU: Which AI Memory Stock is a Smarter Buy at Current Levels?
• Positive Sentiment: Sandisk continues to receive bullish long-term commentary because of strong revenue and margin growth in a volatile memory market. Which Storage Stock Is Best Positioned to Win the AI Memory War? (SNDK)
• Neutral Sentiment: Argus initiated coverage with a Hold rating, which added to the market’s caution but was not a major negative surprise by itself. Analyst Maintains Hold on SanDisk After Post–Spin-Off Rally
• Neutral Sentiment: Several articles frame the decline as a sector-wide memory-chip and semiconductor rotation, with traders locking in gains after a sharp run-up across AI-linked stocks. Memory-Chip Selloff Drags Nasdaq 100 Lower, SanDisk Sinks 13%
• Negative Sentiment: SanDisk is falling as investors take profits after a huge rally, with some commentary warning that the “best part” of the move may already be over. After A 6,000% Melt-Up, SanDisk Just Found Out Gravity Still Exists
• Negative Sentiment: Fresh concerns about Chinese competition, including CXMT’s planned memory IPO, are pressuring the entire memory-chip group and weighing on Sandisk sentiment. SK Hynix and SanDisk Sink 7%, Micron Falls 5% as China’s CXMT Readies an $8.6B Memory IPO
• Negative Sentiment: In addition to profit-taking, analyst caution and sector weakness have pushed SNDK lower as traders question how much upside remains near term. Why Is Sandisk Stock Falling on Thursday?

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on SNDK shares. Cantor Fitzgerald increased their price target on shares of Sandisk from $1,800.00 to $2,900.00 and gave the company an “overweight” rating in a report on Monday, June 8th. Mizuho boosted their price objective on shares of Sandisk from $1,825.00 to $2,200.00 and gave the stock an “outperform” rating in a report on Monday, June 8th. Zacks Research cut Sandisk from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 1st. Evercore set a $3,100.00 target price on Sandisk in a research note on Monday. Finally, Jefferies Financial Group reissued a “buy” rating and issued a $1,400.00 target price on shares of Sandisk in a report on Friday, May 1st. Two equities research analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat.com, Sandisk currently has a consensus rating of “Moderate Buy” and a consensus target price of $1,803.29.

Sandisk Stock Performance

The business’s fifty day moving average price is $1,748.98 and its 200-day moving average price is $1,032.16. The stock has a market cap of $208.97 billion, a PE ratio of 49.05 and a beta of 4.74.

Sandisk (NASDAQ:SNDK) last released its quarterly earnings data on Thursday, April 30th. The data storage provider reported $23.41 earnings per share for the quarter, beating the consensus estimate of $14.17 by $9.24. The firm had revenue of $5.95 billion during the quarter. Sandisk had a net margin of 34.19% and a return on equity of 44.06%. The firm’s revenue for the quarter was up 251.0% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.30) earnings per share. Sandisk has set its Q4 2026 guidance at 30.000-33.000 EPS. Analysts forecast that Sandisk Corporation will post 64.95 earnings per share for the current fiscal year.

Insider Activity at Sandisk

In other news, EVP Alper Ilkbahar sold 2,000 shares of the stock in a transaction on Monday, June 1st. The stock was sold at an average price of $1,756.58, for a total transaction 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 filing with the Securities & Exchange Commission, which is available through this link. Also, Director Necip Sayiner sold 579 shares of the firm’s stock in a transaction on Friday, May 8th. The stock was sold at an average price of $1,503.11, for a total value of $870,300.69. Following the completion of the transaction, the director owned 2,900 shares in the company, valued at approximately $4,359,019. This trade represents a 16.64% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 6,225 shares of company stock worth $10,166,297. Company insiders own 0.21% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. KERR FINANCIAL PLANNING Corp bought a new stake in shares of Sandisk during the 2nd quarter valued at about $34,000. Ramsey Quantitative Systems bought a new position in shares of Sandisk in the 2nd quarter worth approximately $50,000. Elevation Wealth Partners LLC lifted its stake in shares of Sandisk by 114.3% in the 2nd quarter. Elevation Wealth Partners LLC now owns 30 shares of the data storage provider’s stock worth $68,000 after purchasing an additional 16 shares during the period. Valley Wealth Managers Inc. bought a new position in shares of Sandisk in the 1st quarter worth approximately $25,000. Finally, IMG Wealth Management Inc. purchased a new position in shares of Sandisk in the first quarter worth approximately $29,000.

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.