Sandisk (NASDAQ:SNDK) Stock Price Up 3.9% on Analyst Upgrade

Sandisk Corporation (NASDAQ:SNDK) shares shot up 3.9% during mid-day trading on Monday after Susquehanna raised their price target on the stock from $2,000.00 to $3,250.00. Susquehanna currently has a positive rating on the stock. Sandisk traded as high as $1,804.00 and last traded at $1,761.43. 9,595,935 shares traded hands during mid-day trading, a decline of 46% from the average session volume of 17,671,602 shares. The stock had previously closed at $1,694.98.

SNDK has been the topic of a number of other research reports. Weiss Ratings raised shares of Sandisk from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday, May 20th. Wall Street Zen raised shares of Sandisk from a “buy” rating to a “strong-buy” rating in a report on Saturday, January 31st. Melius Research set a $2,350.00 price objective on shares of Sandisk in a report on Monday, May 18th. Mizuho raised their price objective on shares of Sandisk from $1,625.00 to $1,825.00 and gave the stock an “outperform” rating in a report on Thursday. Finally, Arete Research raised shares of Sandisk from a “hold” rating to a “strong-buy” rating in a report on Monday, April 13th. Three analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $1,368.73.

Insider Activity at Sandisk

In other news, Director Necip Sayiner sold 579 shares of Sandisk stock in a transaction that occurred on Friday, May 8th. The shares were sold at an average price of $1,503.11, for a total transaction of $870,300.69. Following the sale, the director owned 2,900 shares in the company, valued at $4,359,019. This trade represents a 16.64% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CAO Michael Pokorny sold 2,446 shares of Sandisk stock in a transaction that occurred on Tuesday, May 12th. The shares were sold at an average price of $1,426.18, for a total transaction of $3,488,436.28. Following the sale, the chief accounting officer owned 22,375 shares in the company, valued at approximately $31,910,777.50. The trade was a 9.85% decrease in their position. The disclosure for this sale is available in the SEC filing. Company insiders own 0.21% of the company’s stock.

Key Sandisk News

Here are the key news stories impacting Sandisk this week:

• Positive Sentiment: Goldman’s outlook for tight AI memory markets through 2028 is helping lift sentiment around Sandisk, reinforcing the view that pricing and demand could stay favorable for major memory producers. What’s Going On With SanDisk Stock Monday?
• Positive Sentiment: Recent analyst notes and price-target updates continue to point to more upside after Sandisk’s historic run, suggesting institutions still see room for the stock to climb. After SanDisk’s Historic Run, Analysts Still See More Upside
• Positive Sentiment: Multiple articles highlight Sandisk as a major beneficiary of AI infrastructure spending and high-performance storage demand, which is keeping the stock’s momentum strong. If you invested $1,000 in SanDisk stock one year ago, here’s your return now
• Neutral Sentiment: Commentary comparing Sandisk with other chip names and discussing whether the stock is in a bubble adds attention, but does not clearly change the fundamental outlook on its own. Are Micron and Sandisk Stocks in a Bubble?
• Negative Sentiment: Renaissance Technologies trimming its stake could be viewed as a mild caution signal, though it may reflect portfolio management rather than a negative view on the company’s prospects. Sandisk Corporation (SNDK): Renaissance Technologies Trims Stake

Institutional Investors Weigh In On Sandisk

Institutional investors and hedge funds have recently modified their holdings of the stock. Vanguard Personalized Indexing Management LLC purchased a new stake in Sandisk in the 3rd quarter worth approximately $1,136,000. Mutual of America Capital Management LLC purchased a new stake in Sandisk in the 3rd quarter worth approximately $1,735,000. Allworth Financial LP boosted its position in Sandisk by 84.2% in the 4th quarter. Allworth Financial LP now owns 4,521 shares of the data storage provider’s stock worth $1,073,000 after purchasing an additional 2,067 shares in the last quarter. Tredje AP fonden purchased a new stake in Sandisk in the 4th quarter worth approximately $7,821,000. Finally, ProShare Advisors LLC boosted its position in Sandisk by 1,301.5% in the 4th quarter. ProShare Advisors LLC now owns 33,637 shares of the data storage provider’s stock worth $7,985,000 after purchasing an additional 31,237 shares in the last quarter.

Sandisk Trading Up 3.9%

The company has a 50-day simple moving average of $1,073.33 and a 200 day simple moving average of $647.37. The firm has a market cap of $260.85 billion, a PE ratio of 61.22 and a beta of 4.88.

Sandisk (NASDAQ:SNDK) last announced its earnings results on Thursday, April 30th. The data storage provider reported $23.41 earnings per share for the quarter, topping the consensus estimate of $14.17 by $9.24. The business had revenue of $5.95 billion during the quarter. Sandisk had a return on equity of 44.06% and a net margin of 34.19%.The company’s quarterly revenue was up 251.0% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.30) earnings per share. Sandisk has set its Q4 2026 guidance at 30.000-33.000 EPS. On average, equities analysts expect that Sandisk Corporation will post 63.58 earnings per share for the current year.

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.