Sandisk (NASDAQ:SNDK) Shares Climb 2.7% – Time to Buy?

Sandisk Corporation (NASDAQ:SNDK)’s stock price rose 2.7% on Thursday. The stock traded as high as $1,802.00 and last traded at $1,787.69. 9,129,672 shares changed hands during mid-day trading, a decline of 41% from the average session volume of 15,477,279 shares. The stock had previously closed at $1,739.89.

Trending Headlines about Sandisk

Here are the key news stories impacting Sandisk this week:

• Positive Sentiment: Tight NAND supply supports pricing and margins. Citi maintained its Buy rating and $2,100 price target, citing stronger memory pricing and the potential for NAND supply to remain tight through 2028. Micron’s 42% sequential NAND-revenue growth reinforced the view that demand is accelerating. Sandisk Stock: AI Storage Boom Could Keep NAND Supply Tight Through 2028
• Positive Sentiment: AI infrastructure is expanding the addressable market. Growing data-center investment is increasing demand for enterprise SSDs and NAND-based products, supporting Sandisk’s pivot toward higher-value data-center contracts. Sandisk Bets on AI and Enterprise SSDs
• Positive Sentiment: Analysts see additional upside. Bernstein reportedly projects substantial appreciation potential despite the stock’s third-quarter pullback, while other coverage argues that Sandisk’s earnings growth, margins and data-center exposure could support a move toward $2,000 or higher. Bernstein Projects 73% Rally Despite Q3 Decline
• Neutral Sentiment: Fiscal first-quarter results are the next major catalyst. Sandisk will report results on October 29, 2026. Investors will focus on whether its guidance of $44–$46 in EPS and continued data-center demand can justify the stock’s elevated valuation. Sandisk to Report First-Quarter Fiscal 2027 Results
• Negative Sentiment: Risks remain from cyclicality and valuation. Sandisk’s stock fell 17% during the third quarter, and a potential 2027 downturn in consumer and edge NAND could pressure results. The shift to long-term data-center contracts may reduce volatility, but could also limit upside if pricing weakens or AI infrastructure spending slows. Sandisk Is Selling the Top of Its Edge Business

Analysts Set New Price Targets

A number of brokerages recently weighed in on SNDK. Susquehanna dropped their price objective on Sandisk from $3,050.00 to $2,745.00 and set a “positive” rating on the stock in a report on Thursday, August 6th. Cantor Fitzgerald restated an “overweight” rating and issued a $2,900.00 price target (up from $1,800.00) on shares of Sandisk in a report on Monday, August 10th. JPMorgan Chase & Co. began coverage on Sandisk in a research note on Friday, August 14th. They issued an “overweight” rating and a $2,250.00 price objective for the company. Royal Bank Of Canada lifted their price objective on Sandisk from $1,300.00 to $1,600.00 and gave the stock a “sector perform” rating in a report on Friday, August 14th. Finally, Morgan Stanley upped their target price on Sandisk from $1,100.00 to $1,750.00 and gave the company an “overweight” rating in a report on Wednesday, June 3rd. Two investment analysts have rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat, Sandisk presently has a consensus rating of “Moderate Buy” and an average price target of $2,113.92.

Sandisk Price Performance

The firm’s 50-day moving average price is $1,536.52 and its 200 day moving average price is $1,428.61. The firm has a market capitalization of $261.75 billion, a price-to-earnings ratio of 24.52, a price-to-earnings-growth ratio of 0.17 and a beta of 5.17.

Sandisk (NASDAQ:SNDK) last issued its quarterly earnings data on Wednesday, August 5th. The data storage provider reported $39.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $33.28 by $5.97. The firm had revenue of $8.96 billion during the quarter. Sandisk had a return on equity of 87.84% and a net margin of 56.47%.The company’s revenue for the quarter was up 371.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.29 earnings per share. Sandisk has set its Q1 2027 guidance at 44.000-46.000 EPS. On average, analysts predict that Sandisk Corporation will post 208.94 earnings per share for the current fiscal year.

Sandisk announced that its Board of Directors has initiated a stock buyback plan on Wednesday, August 5th that authorizes the company to repurchase $14.00 billion in outstanding shares. This repurchase authorization authorizes the data storage provider to repurchase up to 6.6% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its shares are undervalued.

Insider Buying and Selling

In related news, insider Bernard Shek sold 2,308 shares of the business’s stock in a transaction dated Tuesday, September 8th. The shares were sold at an average price of $1,767.33, for a total value of $4,078,997.64. Following the completion of the transaction, the insider owned 25,305 shares of the company’s stock, valued at approximately $44,722,285.65. The trade was a 8.36% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO David Goeckeler sold 33,841 shares of the business’s stock in a transaction dated Thursday, September 17th. The shares were sold at an average price of $1,574.21, for a total transaction of $53,272,840.61. Following the completion of the transaction, the chief executive officer directly owned 382,865 shares of the company’s stock, valued at $602,709,911.65. The trade was a 8.12% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 77,299 shares of company stock worth $120,118,158. 0.21% of the stock is owned by company insiders.

Institutional Trading of Sandisk

Several hedge funds and other institutional investors have recently bought and sold shares of the company. BlackRock Inc. acquired a new stake in shares of Sandisk during the second quarter worth $23,408,732,000. Situational Awareness LP increased its stake in Sandisk by 42.4% in the second quarter. Situational Awareness LP now owns 2,495,344 shares of the data storage provider’s stock valued at $5,673,739,000 after purchasing an additional 743,325 shares during the last quarter. Wellington Management Group LLP increased its stake in Sandisk by 71.2% in the second quarter. Wellington Management Group LLP now owns 1,066,886 shares of the data storage provider’s stock valued at $2,425,811,000 after purchasing an additional 443,714 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in Sandisk by 57.4% during the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 726,722 shares of the data storage provider’s stock worth $1,652,370,000 after buying an additional 264,935 shares during the period. Finally, Bank of New York Mellon Corp purchased a new position in Sandisk during the second quarter worth about $1,621,353,000.

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.