Sandisk (NASDAQ:SNDK) Insider Bernard Shek Sells 600 Shares

Sandisk Corporation (NASDAQ:SNDK) insider Bernard Shek sold 600 shares of the stock in a transaction that occurred on Wednesday, June 3rd. The stock was sold at an average price of $1,736.00, for a total transaction of $1,041,600.00. Following the transaction, the insider owned 32,232 shares in the company, valued at approximately $55,954,752. The trade was a 1.83% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Sandisk Stock Down 11.4%

Shares of NASDAQ:SNDK opened at $1,559.32 on Friday. The company’s 50 day moving average price is $1,174.63 and its two-hundred day moving average price is $695.82. Sandisk Corporation has a 12-month low of $38.53 and a 12-month high of $1,861.00. The firm has a market cap of $230.92 billion, a PE ratio of 54.20 and a beta of 4.87.

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

Analyst Upgrades and Downgrades

Several analysts recently issued reports on SNDK shares. Zacks Research upgraded shares of Sandisk from a “hold” rating to a “strong-buy” rating in a research report on Friday, February 20th. Raymond James Financial reiterated an “outperform” rating and set a $1,470.00 price target on shares of Sandisk in a research report on Friday, May 1st. Barclays upgraded shares of Sandisk from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $1,200.00 to $2,300.00 in a research report on Tuesday, May 26th. Melius Research set a $2,350.00 price target on shares of Sandisk in a research report on Monday, May 18th. Finally, Royal Bank Of Canada increased their price target on shares of Sandisk from $650.00 to $1,000.00 and gave the stock a “sector perform” rating in a research report on Friday, May 1st. Three investment analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, Sandisk has an average rating of “Moderate Buy” and an average price target of $1,398.27.

Key Sandisk News

Here are the key news stories impacting Sandisk this week:

• Positive Sentiment: Analyst commentary remains constructive, with reports citing bullish views on Sandisk and Morgan Stanley lifting its price target by 59%, signaling expectations for further upside from AI-driven memory demand. SNDK stock hits record high: Morgan Stanley raises PT by 59%, sees further upside ahead
• Positive Sentiment: Several bullish pieces argue Sandisk’s AI storage opportunity is still early, highlighting strong recent revenue growth, high margins, and a favorable memory-supply backdrop that could support fundamentals. Sandisk’s AI Storage Moment Is Just Getting Started
• Neutral Sentiment: Market commentary notes Sandisk was among the standout semiconductor winners this year, but that outsized rally is also making the shares more vulnerable to profit-taking and valuation concerns. Sandisk stock is firing on all cylinders: is a day of reckoning coming?
• Neutral Sentiment: Another article suggests analysts still see Sandisk as a key AI memory beneficiary, reinforcing the long-term demand story even as short-term trading turns volatile. These Experts Say the Memory-Stock Runup May Not Be Over Yet
• Negative Sentiment: Friday’s selloff appears driven by a “parabolic” unwind in semiconductor leaders, with Sandisk and peers Micron and Marvell sliding as investors reduce exposure to overheated AI trades. Micron, Sandisk stocks slide as traders exit high-flying AI plays
• Negative Sentiment: New competition concerns and softer sentiment across tech hardware added to the weakness, suggesting near-term momentum could fade if the sector rotation continues. Micron (MU), SanDisk (SNDK) Stocks Slide after Broadcom Outlook and New Competition Threat

Hedge Funds Weigh In On Sandisk

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Allworth Financial LP lifted its stake in Sandisk by 84.2% in the 4th quarter. Allworth Financial LP now owns 4,521 shares of the data storage provider’s stock valued at $1,073,000 after purchasing an additional 2,067 shares during the last quarter. Tredje AP fonden bought a new position in Sandisk in the 4th quarter valued at approximately $7,821,000. ProShare Advisors LLC lifted its stake 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 valued at $7,985,000 after purchasing an additional 31,237 shares during the last quarter. FourThought Financial Partners LLC bought a new position in Sandisk in the 4th quarter valued at approximately $422,000. Finally, North Dakota State Investment Board bought a new position in Sandisk in the 4th quarter valued at approximately $1,127,000.

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. It offers SSDs for client computing applications, which encompass desktop computers, notebook computers, tablets and other computing devices.