Sandisk (NASDAQ:SNDK) Trading Down 9.6% – Here’s Why

Sandisk Corporation (NASDAQ:SNDK) was down 9.6% during trading on Tuesday . The company traded as low as $239.27 and last traded at $240.25. Approximately 2,728,601 shares were traded during trading, a decline of 45% from the average daily volume of 5,005,181 shares. The stock had previously closed at $265.88.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on SNDK shares. Cantor Fitzgerald boosted their target price on Sandisk from $240.00 to $300.00 and gave the stock an “overweight” rating in a report on Friday, November 7th. UBS Group reissued an “overweight” rating and issued a $230.00 price objective on shares of Sandisk in a research note on Monday, November 3rd. Wells Fargo & Company raised their target price on Sandisk from $115.00 to $230.00 and gave the company an “equal weight” rating in a research note on Friday, November 7th. Zacks Research upgraded shares of Sandisk from a “hold” rating to a “strong-buy” rating in a research report on Friday. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Sandisk in a report on Wednesday, October 8th. Three equities research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $183.00.

Sandisk Stock Down 7.9%

The company has a debt-to-equity ratio of 0.14, a quick ratio of 2.03 and a current ratio of 3.29. The stock has a market cap of $35.87 billion and a price-to-earnings ratio of 764.88. The business’s 50 day moving average is $151.23 and its 200 day moving average is $81.37.

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

Institutional Investors Weigh In On Sandisk

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Livforsakringsbolaget Skandia Omsesidigt purchased a new position in shares of Sandisk during the 3rd quarter valued at $1,246,000. Jacobs Levy Equity Management Inc. acquired a new stake in Sandisk in the third quarter valued at approximately $679,000. NewEdge Advisors LLC bought a new stake in Sandisk in the third quarter worth approximately $393,000. Central Asset Investments & Management Holdings HK Ltd acquired a new position in shares of Sandisk during the 3rd quarter worth $3,052,000. Finally, XTX Topco Ltd bought a new position in shares of Sandisk during the 3rd quarter valued at $4,468,000.

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.