Sandisk Stock Set to Split on Monday, November 9th (NASDAQ:SNDK)

Sandisk Corporation (NASDAQ:SNDK)’s stock is scheduled to split on Monday, November 9th. The 8-1 split was announced on Thursday, October 29th. The newly created shares will be payable to shareholders after the market closes on Thursday, November 19th.

Sandisk Stock Down 13.5%

NASDAQ:SNDK traded down $179.16 during trading hours on Friday, hitting $1,150.89. 17,369,753 shares of the company traded hands, compared to its average volume of 14,794,502. The company has a market cap of $166.34 billion, a PE ratio of 15.79, a PEG ratio of 0.14 and a beta of 5.23. The firm’s 50-day simple moving average is $1,566.91 and its 200-day simple moving average is $1,247.03. Sandisk has a one year low of $183.00 and a one year high of $2,354.39.

Sandisk (NASDAQ:SNDK) last released its quarterly earnings results on Thursday, October 29th. The data storage provider reported $49.51 EPS for the quarter, beating analysts’ consensus estimates of $46.19 by $3.32. The firm had revenue of $11.03 billion during the quarter. Sandisk had a net margin of 56.47% and a return on equity of 87.84%. The firm’s revenue for the quarter was up 23.0% on a year-over-year basis. During the same quarter last year, the firm earned $1.22 earnings per share. As a group, equities research analysts expect that Sandisk will post 210.92 EPS for the current year.

Sandisk declared that its Board of Directors has initiated a stock buyback plan on Wednesday, August 5th that allows the company to buy back $14 billion in shares. This buyback authorization allows the data storage provider to buy up to 6.6% of its shares through open market purchases. Share buyback plans are typically an indication that the company’s board of directors believes its shares are undervalued.

Sandisk News Roundup

Here are the key news stories impacting Sandisk this week:

• Positive Sentiment: Sandisk reported fiscal Q1 revenue of $11.03 billion and non-GAAP EPS of $49.51, exceeding Wall Street expectations. Revenue increased 378% year over year, while GAAP net income reached $8.1 billion. SanDisk Q1 2027 Earnings Call Transcript
• Positive Sentiment: Management projected fiscal Q2 revenue of $12.2 billion to $12.6 billion and highlighted strong AI-driven data-center demand, long-term customer supply agreements and a pipeline extending through 2030. Data-center revenue rose 61% sequentially. SanDisk CEO Sees Strong Customer Demand
• Positive Sentiment: The board approved an 8-for-1 forward stock split effective November 19, and Sandisk repurchased approximately $5 billion of stock during the quarter. These actions may improve trading accessibility and signal management confidence, although they do not change intrinsic value. Sandisk Tops Estimates and Announces Stock Split
• Neutral Sentiment: Analyst sentiment remains divided. Rosenblatt reaffirmed a $2,400 buy target and Susquehanna maintained a positive rating, while Wells Fargo cut its target to $1,300 with an equal-weight rating and RBC reduced its target to $1,400 with a sector-perform rating.
• Negative Sentiment: Investors appear concerned that memory pricing and margins may be near a peak, limiting further earnings upside after the stock’s substantial run. Analysts also flagged valuation risks despite the earnings beat. Analyst Sees Memory Pricing Peak
• Negative Sentiment: The broader technology and semiconductor sell-off, triggered partly by disappointing results from Amazon and Intel, pressured memory stocks across the sector. Rising competition from China’s CXMT added another concern for investors. Why Memory Stocks Are Falling

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. Wedbush reiterated an “outperform” rating and issued a $2,000.00 price objective on shares of Sandisk in a research note on Friday, August 14th. Citigroup reiterated a “buy” rating on shares of Sandisk in a report on Thursday, October 1st. Bank of America reaffirmed a “buy” rating and issued a $2,000.00 price objective on shares of Sandisk in a report on Friday. BNP Paribas Exane dropped their price objective on Sandisk from $1,900.00 to $1,400.00 in a research note on Thursday, August 6th. Finally, Royal Bank Of Canada cut their price target on Sandisk from $1,600.00 to $1,400.00 and set a “sector perform” rating for the company in a research note on Friday. Two research analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Sandisk has a consensus rating of “Moderate Buy” and a consensus price target of $2,056.23.

Insider Transactions at Sandisk

In other Sandisk news, CEO David Goeckeler sold 33,841 shares of Sandisk stock in a transaction that occurred on 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 sale, the chief executive officer directly owned 382,865 shares in the company, valued at $602,709,911.65. The trade was a 8.12% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Luis Visoso sold 1,000 shares of the stock in a transaction that occurred on Tuesday, September 15th. The stock was sold at an average price of $1,568.83, for a total value of $1,568,830.00. Following the completion of the transaction, the chief financial officer directly owned 130,976 shares of the company’s stock, valued at $205,479,078.08. This represents a 0.76% 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 have sold a total of 77,899 shares of company stock worth $121,159,122 in the last ninety days. Company insiders own 0.29% of the company’s stock.

Institutional Trading of Sandisk

A number of institutional investors have recently bought and sold shares of the business. BlackRock Inc. purchased a new position in Sandisk in the 2nd quarter valued at about $23,408,732,000. Situational Awareness LP grew its stake in Sandisk by 42.4% during the 2nd quarter. Situational Awareness LP now owns 2,495,344 shares of the data storage provider’s stock valued at $5,673,739,000 after acquiring an additional 743,325 shares in the last quarter. Wellington Management Group LLP raised its stake in shares of Sandisk by 71.2% in the 2nd 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 acquiring an additional 443,714 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of Sandisk by 57.4% in the 2nd 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 valued at $1,652,370,000 after buying an additional 264,935 shares in the last quarter. Finally, Bank of New York Mellon Corp acquired a new stake in Sandisk in the 2nd quarter valued at about $1,621,353,000.

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.