Sandisk (NASDAQ:SNDK) Stock Price Down 9% – What’s Next?

Sandisk Corporation (NASDAQ:SNDK) shares were down 9% during mid-day trading on Tuesday . The stock traded as low as $1,600.20 and last traded at $1,625.78. Approximately 18,296,948 shares were traded during mid-day trading, an increase of 11% from the average session volume of 16,505,275 shares. The stock had previously closed at $1,786.85.

Key Sandisk News

Here are the key news stories impacting Sandisk this week:

• Positive Sentiment: Sandisk’s recent Investor Day continued to support the long-term bull case. The company highlighted a roughly $93.9 billion customer backlog, growing AI-related storage demand and ambitious targets for higher gross, operating and free-cash-flow margins. The $93 Billion Reason Sandisk Is a Must-Own AI Stock
• Positive Sentiment: JPMorgan initiated coverage with a Buy-equivalent recommendation and a $2,250 price target, while other analysts have described Sandisk’s high-bandwidth flash products as potentially important for AI infrastructure. SanDisk Gets New Buy Recommendation
• Neutral Sentiment: The stock had risen roughly 550% to 656% year to date and nearly 30% in the prior five sessions, making profit-taking and position reduction more likely even as momentum indicators remained strong. $1,000 Invested in Sandisk Stock at the Start of 2026
• Negative Sentiment: A Wall Street Journal report triggered a broad selloff in memory stocks as investors rotated out of AI hardware winners. The move affected Sandisk, Micron and Western Digital, suggesting sector-wide de-risking rather than a company-specific operating setback. WSJ Report Sends Memory Stocks Down
• Negative Sentiment: Higher Treasury yields are pressuring expensive growth stocks and testing the extended memory boom trade. Investors remain concerned that Sandisk’s exceptional margins—driven largely by pricing strength—could weaken if supply improves or the memory cycle turns. Higher Rates Test the Memory Boom
• Negative Sentiment: Hedge fund manager David Tepper’s Appaloosa exited Sandisk and reduced its Micron position during the second quarter, reallocating toward large technology companies. That disclosure adds to concerns about institutional profit-taking after the stock’s extraordinary advance. David Tepper Cuts Micron Stake and Exits SanDisk

Analyst Upgrades and Downgrades

Several research firms have weighed in on SNDK. Melius Research set a $2,350.00 price objective on Sandisk in a research report on Monday, May 18th. Raymond James Financial restated an “outperform” rating and issued a $1,470.00 price target on shares of Sandisk in a research note on Friday, May 1st. Argus raised shares of Sandisk from a “hold” rating to a “buy” rating in a research report on Monday, August 10th. Wedbush reiterated an “outperform” rating and issued a $2,000.00 price objective on shares of Sandisk in a research note on Friday. Finally, JPMorgan Chase & Co. started coverage on shares of Sandisk in a research report on Friday. They set an “overweight” rating and a $2,250.00 target price on the stock. Three investment analysts have rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Buy” and an average price target of $1,999.27.

Sandisk Stock Down 9.0%

The stock has a market capitalization of $240.76 billion, a P/E ratio of 22.30, a PEG ratio of 0.16 and a beta of 5.21. The firm has a 50 day simple moving average of $1,670.76 and a two-hundred day simple moving average of $1,195.28.

Sandisk (NASDAQ:SNDK) last released its quarterly earnings data on Wednesday, August 5th. The data storage provider reported $39.25 earnings per share for the quarter, beating the consensus estimate of $33.28 by $5.97. The business had revenue of $8.96 billion for the quarter. Sandisk had a return on equity of 87.84% and a net margin of 56.47%.The business’s quarterly revenue was up 371.6% compared to the same quarter last year. During the same period last year, the business earned $0.29 earnings per share. Sandisk has set its Q1 2027 guidance at 44.000-46.000 EPS. On average, research analysts predict that Sandisk Corporation will post 208.92 earnings per share for the current year.

Sandisk announced that its board has authorized a share repurchase plan on Wednesday, August 5th that authorizes the company to repurchase $14.00 billion in outstanding shares. This repurchase authorization authorizes the data storage provider to repurchase up to 6.6% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s management believes its stock is undervalued.

Insider Activity at Sandisk

In related news, EVP Alper Ilkbahar sold 2,000 shares of the company’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 transaction of $3,513,160.00. Following the completion of the transaction, the executive vice president directly owned 52,677 shares in the company, valued at $92,531,364.66. This represents a 3.66% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Bernard Shek sold 600 shares of the stock in a transaction that occurred on Monday, August 3rd. The shares were sold at an average price of $1,162.16, for a total transaction of $697,296.00. Following the completion of the transaction, the insider directly owned 30,915 shares of the company’s stock, valued at approximately $35,928,176.40. The trade was a 1.90% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 3,800 shares of company stock worth $6,504,856 over the last ninety days. 0.21% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Sandisk

Hedge funds have recently modified their holdings of the company. BlackRock Inc. bought a new position in Sandisk in the second quarter valued at about $23,408,732,000. State Street Corp bought a new stake in shares of Sandisk during the third quarter worth about $491,053,000. Arrowstreet Capital Limited Partnership acquired a new position in shares of Sandisk in the third quarter valued at approximately $297,293,000. Norges Bank acquired a new position in shares of Sandisk in the fourth quarter valued at approximately $518,889,000. Finally, Bank of America Corp DE bought a new position in Sandisk in the 3rd quarter valued at approximately $190,425,000.

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.