Sandisk (NASDAQ:SNDK) Cut to Equal Weight at Fox Advisors

Fox Advisors lowered shares of Sandisk (NASDAQ:SNDK) from an overweight rating to an equal weight rating in a report issued on Monday morning, MarketBeat reports.

Several other research firms also recently weighed in on SNDK. BNP Paribas Exane dropped their price target on Sandisk from $1,900.00 to $1,400.00 in a research report on Thursday, August 6th. JPMorgan Chase & Co. started coverage on Sandisk in a report on Friday, August 14th. They issued an “overweight” rating and a $2,250.00 price target for the company. Weiss Ratings downgraded Sandisk from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Wednesday, October 14th. Royal Bank Of Canada decreased their price objective on Sandisk from $1,600.00 to $1,400.00 and set a “sector perform” rating on the stock in a research note on Friday, October 30th. Finally, Wedbush reaffirmed an “outperform” rating and set a $2,000.00 price objective on shares of Sandisk in a research note on Friday, August 14th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-two have given a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $2,056.23.

Sandisk Price Performance

SNDK stock opened at $1,037.40 on Monday. The company’s 50 day simple moving average is $1,531.29 and its 200-day simple moving average is $1,261.10. The firm has a market capitalization of $147.61 billion, a PE ratio of 9.65, a P/E/G ratio of 0.09 and a beta of 5.66. Sandisk has a 12 month low of $183.00 and a 12 month high of $2,354.39.

Sandisk’s stock is scheduled to split before the market opens on Friday, November 20th. The 8-1 split was announced on Thursday, October 29th. The newly created shares will be distributed to shareholders after the closing bell on Thursday, November 19th.

Sandisk (NASDAQ:SNDK) last issued its quarterly earnings data on Thursday, October 29th. The data storage provider reported $49.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $46.19 by $3.32. Sandisk had a return on equity of 125.70% and a net margin of 67.04%. The firm had revenue of $11.03 billion during the quarter. During the same quarter in the prior year, the firm earned $1.22 earnings per share. The company’s revenue for the quarter was up 23.0% on a year-over-year basis. As a group, sell-side analysts anticipate that Sandisk will post 216.29 earnings per share for the current year.

Sandisk announced that its Board of Directors has initiated a share buyback program on Wednesday, August 5th that permits the company to buy back $14 billion in outstanding shares. This buyback authorization permits the data storage provider to reacquire up to 6.6% of its shares through open market purchases. Stock buyback programs are generally a sign that the company’s board of directors believes its shares are undervalued.

Insider Activity

In other Sandisk news, EVP Alper Ilkbahar sold 4,712 shares of Sandisk stock in a transaction that occurred on Thursday, September 3rd. The shares were sold at an average price of $1,540.58, for a total value of $7,259,212.96. Following the completion of the sale, the executive vice president directly owned 44,134 shares of the company’s stock, valued at approximately $67,991,957.72. The trade was a 9.65% decrease in their position. The transaction was disclosed in a legal 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. Also, CEO David Goeckeler sold 33,841 shares of the business’s stock in a transaction on Thursday, September 17th. The shares were sold at an average price of $1,574.21, for a total value of $53,272,840.61. Following the completion of the transaction, the chief executive officer owned 382,865 shares of the company’s stock, valued at $602,709,911.65. This trade represents a 8.12% decrease in their ownership of the stock. 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 a total of 77,899 shares of company stock valued at $121,156,782 over the last quarter. Insiders own 0.29% of the company’s stock.

Institutional Investors Weigh In On Sandisk

Hedge funds have recently made changes to their positions in the business. Cornerstone Wealth Management LLC boosted its position in Sandisk by 17.5% in the 3rd quarter. Cornerstone Wealth Management LLC now owns 322 shares of the data storage provider’s stock valued at $560,000 after buying an additional 48 shares during the last quarter. Csenge Advisory Group raised its position in shares of Sandisk by 268.7% during the third quarter. Csenge Advisory Group now owns 612 shares of the data storage provider’s stock worth $1,065,000 after acquiring an additional 446 shares during the last quarter. D Orazio & Associates Inc. raised its position in shares of Sandisk by 45.1% during the third quarter. D Orazio & Associates Inc. now owns 264 shares of the data storage provider’s stock worth $459,000 after acquiring an additional 82 shares during the last quarter. Gen Wealth Partners Inc bought a new stake in shares of Sandisk during the third quarter worth $151,000. Finally, 71 West Capital Partners lifted its stake in shares of Sandisk by 10.1% during the third quarter. 71 West Capital Partners now owns 589 shares of the data storage provider’s stock valued at $1,025,000 after acquiring an additional 54 shares during the period.

Trending Headlines about Sandisk

Here are the key news stories impacting Sandisk this week:

• Positive Sentiment: SanDisk’s longer-term growth case remains supported by AI data-center demand and long-term agreements with hyperscalers, reportedly extending through 2030. Recent quarterly results also beat analyst expectations, though those positives have not prevented near-term selling. Article: Got $5,000? Buy These 2 Growth Stocks Powering the AI Memory Boom
• Neutral Sentiment: Insider Bernard Shek sold 600 shares under a pre-arranged Rule 10b5-1 plan, retaining 24,666 shares afterward. The planned, relatively small sale offers limited insight into the company’s outlook.
• Negative Sentiment: U.S. midterm election results prompted concern that a change in political control could bring tighter AI regulation in 2027, potentially weighing on expectations for AI infrastructure investment. Memory stocks including SanDisk sold off as investors reconsidered the sector’s spending outlook. Article: Why Sandisk Stock Sank Today
• Negative Sentiment: Investors are also weighing memory-price concerns and whether SanDisk’s strong earnings and outlook can meet elevated expectations. A Fox Advisors downgrade added to the negative sentiment. Shares have continued to retreat from their recent highs, reflecting the market’s sensitivity to shifting growth expectations. Article: SanDisk Slides as Election and Memory Price Worries Weigh Article: Sandisk Stock Gets Downgrade from Fox Advisors

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.