Sandisk (NASDAQ:SNDK) Trading Up 11.5% – Time to Buy?

Sandisk Corporation (NASDAQ:SNDK) rose 11.5% during mid-day trading on Thursday . The stock traded as high as $2,191.69 and last traded at $2,184.75. 11,998,274 shares were traded during trading, a decline of 29% from the average session volume of 16,925,775 shares. The stock had previously closed at $1,958.80.

Sandisk News Summary

Here are the key news stories impacting Sandisk this week:

• Positive Sentiment: Apple CEO Tim Cook’s comments about a severe memory shortage and unavoidable price hikes have strengthened the bullish case for memory-chip makers, reinforcing pricing power for SanDisk and helping lift the stock. Why Is SanDisk Stock Surging On Thursday?
• Positive Sentiment: New coverage said SanDisk may have more upside than Micron because AI-driven memory demand, strong pricing power, and rising data-center sales are still fueling growth momentum. Micron Gets the Headlines, But Sandisk Could Offer More Upside
• Positive Sentiment: Analysts continue to highlight SanDisk’s AI opportunity, with fresh commentary pointing to stronger earnings potential, estimate revisions, and long-term demand tied to AI infrastructure. Wall Street Sees More Upside for SanDisk Corporation (SNDK)’s AI Opportunity
• Neutral Sentiment: Articles focusing on SanDisk’s open-source SPRandom technology and faster SSD qualification suggest the company is trying to remove data-center bottlenecks, which could support adoption but is more of a long-term operational improvement than an immediate catalyst. How SanDisk (SNDK) Is Tackling AI Storage Bottlenecks With Faster SSD Qualification
• Negative Sentiment: Despite the rally, one market note warned that SanDisk may be overextended, with a price target implying downside after its extraordinary year-to-date gain, which could encourage profit-taking. Up 700% YTD, How High Can SanDisk Rally?
• Negative Sentiment: Commentary about an RSI near record levels and broader AI bubble fears suggests some traders are becoming wary that SanDisk’s valuation has run too far too fast. SanDisk RSI Hits Record 99, Fueling AI Bubble Fears Across Markets

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the company. KGI Securities initiated coverage on Sandisk in a report on Wednesday, March 18th. They set an “outperform” rating and a $992.00 price objective on the stock. Wells Fargo & Company boosted their target price on shares of Sandisk from $975.00 to $1,250.00 and gave the stock an “equal weight” rating in a research report on Friday, May 1st. Barclays raised shares of Sandisk from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $1,200.00 to $2,300.00 in a research note on Tuesday, May 26th. Evercore reiterated an “outperform” rating and issued a $1,400.00 price objective on shares of Sandisk in a research note on Friday, May 1st. Finally, UBS Group set a $1,700.00 target price on shares of Sandisk in a research report on Monday, May 4th. Three investment analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $1,580.67.

Sandisk Price Performance

The firm has a market cap of $323.54 billion, a PE ratio of 75.94 and a beta of 4.87. The business has a 50-day moving average price of $1,424.27 and a two-hundred day moving average price of $814.48.

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

Insider Buying and Selling at Sandisk

In related news, Director Necip Sayiner sold 579 shares of Sandisk stock in a transaction that occurred on Friday, May 8th. The stock was sold at an average price of $1,503.11, for a total transaction of $870,300.69. Following the completion of the transaction, the director directly owned 2,900 shares in the company, valued at $4,359,019. The trade was a 16.64% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Michael Pokorny sold 2,446 shares of the company’s stock in a transaction that occurred on Tuesday, May 12th. The shares were sold at an average price of $1,426.18, for a total value of $3,488,436.28. Following the completion of the sale, the chief accounting officer directly owned 22,375 shares in the company, valued at approximately $31,910,777.50. The trade was a 9.85% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 5,625 shares of company stock valued at $8,913,497 over the last three months. Company insiders own 0.21% of the company’s stock.

Institutional Trading of Sandisk

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Parallel Advisors LLC boosted its stake in shares of Sandisk by 233.3% during the first quarter. Parallel Advisors LLC now owns 1,430 shares of the data storage provider’s stock valued at $909,000 after acquiring an additional 1,001 shares during the last quarter. NewEdge Advisors LLC increased its position in Sandisk by 187.2% during the 1st quarter. NewEdge Advisors LLC now owns 18,129 shares of the data storage provider’s stock worth $11,518,000 after purchasing an additional 11,817 shares in the last quarter. Keel Point LLC acquired a new position in Sandisk in the 1st quarter valued at about $314,000. Glenmede Trust Co. NA raised its stake in Sandisk by 76.4% in the 1st quarter. Glenmede Trust Co. NA now owns 2,754 shares of the data storage provider’s stock valued at $1,750,000 after purchasing an additional 1,193 shares during the last quarter. Finally, Liontrust Investment Partners LLP purchased a new position in Sandisk in the 1st quarter valued at about $11,892,000.

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.