Sandisk Corporation (NASDAQ:SNDK) Stock Rated “Moderate Buy” by Wall Street Analysts

Sandisk Corporation (NASDAQ:SNDK) has earned an average recommendation of “Moderate Buy” from the twenty-eight research firms that are covering the firm, MarketBeat.com reports. Five analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and one has issued a strong buy rating on the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $2,056.23.

Several research firms have recently weighed in on SNDK. UBS Group reissued an “overweight” rating and issued a $1,750.00 price objective on shares of Sandisk in a research report on Friday, August 14th. The Goldman Sachs Group reaffirmed a “buy” rating and set a $2,200.00 target price (up from $1,200.00) on shares of Sandisk in a research report on Thursday, August 13th. Weiss Ratings cut shares of Sandisk from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday, October 14th. Raymond James Financial upped their target price on shares of Sandisk from $1,470.00 to $2,000.00 and gave the company an “outperform” rating in a research note on Thursday, August 6th. Finally, Jefferies Financial Group reissued a “buy” rating and issued a $1,400.00 price target (up from $1,000.00) on shares of Sandisk in a report on Thursday, August 6th.

Insider Activity at Sandisk

In other news, insider Bernard Shek sold 2,308 shares of the company’s stock in a transaction dated Tuesday, September 8th. The shares were sold at an average price of $1,767.33, for a total transaction 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. This represents a 8.36% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Alper Ilkbahar sold 4,712 shares of the stock in a transaction dated Thursday, September 3rd. The shares were sold at an average price of $1,540.58, for a total transaction of $7,259,212.96. Following the completion of the sale, the executive vice president 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 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 worth $121,156,782 over the last ninety days. Corporate insiders own 0.29% of the company’s stock.

Hedge Funds Weigh In On Sandisk

Several large investors have recently added to or reduced their stakes in SNDK. BlackRock Inc. acquired a new position in shares of Sandisk in the second quarter valued at $23,408,732,000. Situational Awareness LP boosted its stake in Sandisk by 42.4% during the second quarter. Situational Awareness LP now owns 2,495,344 shares of the data storage provider’s stock worth $5,673,739,000 after buying an additional 743,325 shares in the last quarter. Wellington Management Group LLP boosted its stake in Sandisk by 71.2% during the second quarter. Wellington Management Group LLP now owns 1,066,886 shares of the data storage provider’s stock worth $2,425,811,000 after buying an additional 443,714 shares in the last quarter. Amundi boosted its stake in Sandisk by 135.5% during the first quarter. Amundi now owns 872,632 shares of the data storage provider’s stock worth $554,418,000 after buying an additional 502,166 shares in the last quarter. Finally, Assenagon Asset Management S.A. boosted its stake in Sandisk by 33.3% during the third quarter. Assenagon Asset Management S.A. now owns 828,900 shares of the data storage provider’s stock worth $1,442,195,000 after buying an additional 207,051 shares in the last quarter.

Sandisk Stock Performance

Shares of NASDAQ:SNDK opened at $1,037.40 on Thursday. The stock’s 50-day moving average is $1,531.29 and its 200-day moving average is $1,261.10. The company has a market cap of $147.61 billion, a P/E ratio of 8.32, a P/E/G ratio of 0.09 and a beta of 5.66. Sandisk has a 52-week low of $183.00 and a 52-week high of $2,354.39.

Shares of Sandisk are 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 market closes on Thursday, November 19th.

Sandisk (NASDAQ:SNDK) last released its earnings results on Thursday, October 29th. The data storage provider reported $49.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $46.19 by $3.32. The firm had revenue of $11.03 billion for the quarter. Sandisk had a return on equity of 125.70% and a net margin of 67.04%. The business’s quarterly revenue was up 23.0% compared to the same quarter last year. During the same period last year, the business earned $1.22 EPS. As a group, equities analysts predict that Sandisk will post 216.29 EPS for the current year.

Sandisk declared that its board has initiated a stock repurchase program on Wednesday, August 5th that authorizes the company to buy back $14 billion in outstanding shares. This buyback authorization authorizes the data storage provider to reacquire up to 6.6% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board believes its shares are undervalued.

More Sandisk News

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.