Sandisk (NASDAQ:SNDK) Trading Up 6.9% – Here’s Why

Sandisk Corporation (NASDAQ:SNDK) shares were up 6.9% during mid-day trading on Thursday . The company traded as high as $231.00 and last traded at $221.00. Approximately 2,748,890 shares traded hands during trading, a decline of 53% from the average daily volume of 5,792,561 shares. The stock had previously closed at $206.83.

Analysts Set New Price Targets

A number of research analysts have weighed in on SNDK shares. Fox Advisors raised Sandisk from a “hold” rating to a “strong-buy” rating in a report on Friday, November 7th. Zacks Research raised shares of Sandisk from a “hold” rating to a “strong-buy” rating in a research note on Friday, November 14th. UBS Group reaffirmed an “overweight” rating and set a $230.00 target price on shares of Sandisk in a report on Monday, November 3rd. Susquehanna raised their price target on shares of Sandisk from $250.00 to $300.00 and gave the company a “positive” rating in a report on Monday, December 8th. Finally, Morgan Stanley upped their price target on shares of Sandisk from $263.00 to $273.00 and gave the stock an “overweight” rating in a report on Monday, November 24th. Three research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating, six have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $213.33.

Sandisk Price Performance

The business’s fifty day moving average price is $202.42 and its 200-day moving average price is $108.68. The company has a market capitalization of $31.59 billion and a P/E ratio of 673.66. The company has a current ratio of 3.29, a quick ratio of 2.03 and a debt-to-equity ratio of 0.14.

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, beating analysts’ consensus estimates of $0.58 by $0.64. The firm had revenue of $2.31 billion for the quarter, compared to analysts’ expectations of $2.12 billion. The business’s revenue for the quarter was up 22.6% compared to the same quarter last year. Sandisk has set its Q2 2026 guidance at 3.000-3.40 EPS.

Insider Transactions at Sandisk

In other Sandisk news, Director Necip Sayiner sold 1,271 shares of the stock in a transaction that occurred 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 transaction, the director directly owned 3,479 shares in the company, valued at $678,892.06. This trade represents a 26.76% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.21% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Sandisk

A number of institutional investors have recently made changes to their positions in the business. Osaic Holdings Inc. bought a new stake in Sandisk in the second quarter worth $317,000. Corient Private Wealth LLC bought a new stake in Sandisk in the 2nd quarter worth $353,000. Praxis Investment Management Inc. bought a new position in shares of Sandisk during the third quarter valued at about $533,000. GAMMA Investing LLC bought a new stake in shares of Sandisk in the third quarter worth about $439,000. Finally, Voya Investment Management LLC purchased a new position in Sandisk during the 3rd quarter valued at $8,917,000.

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.