Sandisk (NASDAQ:SNDK) Stock Falls 1.7% – Here’s What Happened

Sandisk Corporation (NASDAQ:SNDK)’s share price dropped 1.7% on Friday. The company traded as low as $1,575.69 and last traded at $1,581.82. Approximately 5,547,941 shares were traded during trading, a decline of 64% from the average session volume of 15,235,943 shares. The stock had previously closed at $1,609.46.

Key Headlines Impacting Sandisk

Here are the key news stories impacting Sandisk this week:

• Positive Sentiment: Sandisk’s fiscal fourth-quarter results highlighted exceptional operating momentum: revenue rose 372% year over year to approximately $8.97 billion, while gross margin reached 84.6%. The company also exceeded consensus EPS expectations and issued fiscal Q1 2027 EPS guidance of $44–$46. Sandisk Posted an 84.6% Margin Quarter
• Positive Sentiment: Analysts and industry commentary continue to point to durable AI-driven demand for data-center storage. Tight supply across the AI hardware chain could support memory pricing, revenue growth, and Sandisk’s profitability for years if demand remains elevated. SanDisk’s AI Storage Boom May Have Years to Run
• Positive Sentiment: Mizuho raised its Sandisk price target by $175, citing expected demand from agentic AI. The upgrade reinforces the bullish view that storage requirements will expand alongside increasingly capable AI systems. Mizuho Raises Sandisk Price Target
• Neutral Sentiment: Sandisk’s forward earnings multiple appears modest relative to its growth and profitability, but investors are debating whether current earnings represent a sustainable new growth phase or a cyclical peak. The stock’s substantial prior appreciation raises the bar for future results. Sandisk Posted an 84.6% Margin Quarter
• Negative Sentiment: Memory stocks sold off after Samsung’s preliminary revenue results disappointed, reviving concerns about industry demand, pricing, and the sustainability of elevated valuations. Higher Treasury yields, oil prices, and broader technology-sector pressure added to the risk-off tone. The Memory Trade Cools After Samsung Results

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the company. Argus upgraded Sandisk from a “hold” rating to a “buy” rating and set a $1,600.00 price target for the company in a research note on Monday, August 10th. Wells Fargo & Company raised their target price on shares of Sandisk from $1,400.00 to $1,550.00 and gave the stock an “equal weight” rating in a research note on Thursday, August 13th. Bank of America lifted their target price on shares of Sandisk from $2,100.00 to $2,500.00 and gave the company a “buy” rating in a report on Wednesday, July 1st. Raymond James Financial boosted their price target on shares of Sandisk from $1,470.00 to $2,000.00 and gave the stock an “outperform” rating in a research note on Thursday, August 6th. Finally, Sanford C. Bernstein restated an “outperform” rating and issued a $3,000.00 price objective (up from $1,700.00) on shares of Sandisk in a research report on Thursday, August 6th. Two 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 stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $2,120.65.

Sandisk Trading Down 1.7%

The firm has a 50 day moving average of $1,585.66 and a two-hundred day moving average of $1,469.83. The stock has a market capitalization of $228.62 billion, a PE ratio of 21.70, a P/E/G ratio of 0.17 and a beta of 5.23.

Sandisk (NASDAQ:SNDK) last announced its quarterly earnings results on Wednesday, August 5th. The data storage provider reported $39.25 earnings per share for the quarter, beating analysts’ consensus estimates of $33.28 by $5.97. Sandisk had a return on equity of 87.84% and a net margin of 56.47%.The business had revenue of $8.96 billion during the quarter. During the same quarter in the prior year, the business earned $0.29 EPS. The company’s quarterly revenue was up 371.6% compared to the same quarter last year. Sandisk has set its Q1 2027 guidance at 44.000-46.000 EPS. Equities research analysts forecast that Sandisk Corporation will post 208.94 EPS for the current year.

Sandisk declared that its Board of Directors has initiated a share repurchase program on Wednesday, August 5th that allows the company to buyback $14.00 billion in shares. This buyback authorization allows the data storage provider to buy up to 6.6% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s management believes its stock is undervalued.

Insider Buying and Selling at Sandisk

In other news, CEO David Goeckeler sold 33,841 shares of the company’s stock in a transaction on Thursday, September 17th. The stock was sold at an average price of $1,574.21, for a total value of $53,272,840.61. Following the sale, the chief executive officer directly owned 382,865 shares in the company, valued at $602,709,911.65. This represents a 8.12% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Bernard Shek sold 600 shares of the stock in a transaction on Thursday, October 1st. The shares were sold at an average price of $1,734.94, for a total value of $1,040,964.00. Following the sale, the insider directly owned 25,588 shares in the company, valued at approximately $44,393,644.72. The trade was a 2.29% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 77,899 shares of company stock worth $121,159,122 over the last ninety days. 0.21% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Valley Wealth Managers Inc. purchased a new stake in shares of Sandisk during the first quarter worth about $25,000. Atomic Invest LLC acquired a new stake in Sandisk during the second quarter worth approximately $25,000. IMG Wealth Management Inc. acquired a new stake in Sandisk during the first quarter worth approximately $29,000. Dunhill Financial LLC purchased a new stake in Sandisk in the 2nd quarter worth approximately $30,000. Finally, Mowery & Schoenfeld Wealth Management LLC purchased a new stake in Sandisk in the 2nd quarter worth approximately $32,000.

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.