Sandisk (NASDAQ:SNDK) Stock Price Up 6.5% – Still a Buy?

Shares of Sandisk Corporation (NASDAQ:SNDK) were up 6.5% during mid-day trading on Monday . The stock traded as high as $2,119.90 and last traded at $2,107.86. Approximately 9,051,220 shares changed hands during trading, a decline of 47% from the average daily volume of 17,102,873 shares. The stock had previously closed at $1,980.10.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. Cantor Fitzgerald raised their price target on shares of Sandisk from $1,800.00 to $2,900.00 and gave the company an “overweight” rating in a research note on Monday, June 8th. Mizuho raised their price target on shares of Sandisk from $1,825.00 to $2,200.00 and gave the company an “outperform” rating in a research note on Monday, June 8th. Sanford C. Bernstein raised their price target on shares of Sandisk from $1,250.00 to $1,700.00 and gave the company an “outperform” rating in a research note on Monday, May 4th. KGI Securities assumed coverage on shares of Sandisk in a research note on Wednesday, March 18th. They issued an “outperform” rating and a $992.00 price target on the stock. Finally, Royal Bank Of Canada raised their price target on shares of Sandisk from $650.00 to $1,000.00 and gave the company a “sector perform” rating in a research note on Friday, May 1st. Three investment analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, Sandisk currently has a consensus rating of “Moderate Buy” and an average price target of $1,580.67.

Sandisk Stock Performance

The stock has a market capitalization of $312.15 billion, a PE ratio of 73.27 and a beta of 4.88. The stock’s 50 day moving average is $1,288.10 and its two-hundred day moving average is $752.93.

Sandisk (NASDAQ:SNDK) last issued its quarterly earnings results on Thursday, April 30th. The data storage provider reported $23.41 earnings per share for the quarter, beating analysts’ consensus estimates of $14.17 by $9.24. Sandisk had a net margin of 34.19% and a return on equity of 44.06%. The firm had revenue of $5.95 billion for the quarter. During the same period in the prior year, the business posted ($0.30) earnings per share. The company’s quarterly revenue was up 251.0% compared to the same quarter last year. Sandisk has set its Q4 2026 guidance at 30.000-33.000 EPS. Equities research analysts expect that Sandisk Corporation will post 64.01 EPS for the current fiscal year.

Insider Buying and Selling at Sandisk

In other Sandisk news, EVP Alper Ilkbahar sold 2,000 shares of the firm’s stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $1,756.58, for a total value of $3,513,160.00. Following the transaction, the executive vice president directly owned 52,677 shares of the company’s stock, valued at $92,531,364.66. This trade represents a 3.66% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Bernard Shek sold 600 shares of the firm’s stock in a transaction that occurred on Wednesday, June 3rd. The stock was sold at an average price of $1,736.00, for a total transaction of $1,041,600.00. Following the completion of the transaction, the insider directly owned 32,232 shares in the company, valued at $55,954,752. This trade represents a 1.83% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 5,625 shares of company stock valued at $8,913,497. Company insiders own 0.21% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. GHP Investment Advisors Inc. lifted its stake in Sandisk by 12.0% in the 1st quarter. GHP Investment Advisors Inc. now owns 121 shares of the data storage provider’s stock worth $77,000 after purchasing an additional 13 shares in the last quarter. Blair William & Co. IL lifted its stake in Sandisk by 0.3% in the 4th quarter. Blair William & Co. IL now owns 5,287 shares of the data storage provider’s stock worth $1,255,000 after purchasing an additional 17 shares in the last quarter. Empirical Finance LLC lifted its stake in Sandisk by 0.7% in the 1st quarter. Empirical Finance LLC now owns 3,535 shares of the data storage provider’s stock worth $2,246,000 after purchasing an additional 24 shares in the last quarter. SOA Wealth Advisors LLC. lifted its stake in Sandisk by 108.0% in the 1st quarter. SOA Wealth Advisors LLC. now owns 52 shares of the data storage provider’s stock worth $33,000 after purchasing an additional 27 shares in the last quarter. Finally, Larson Financial Group LLC lifted its stake in Sandisk by 20.2% in the 4th quarter. Larson Financial Group LLC now owns 220 shares of the data storage provider’s stock worth $52,000 after purchasing an additional 37 shares in the last quarter.

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.