Sandisk (NASDAQ:SNDK) Trading Up 6.8% – Here’s What Happened

Sandisk Corporation (NASDAQ:SNDK)’s share price was up 6.8% during trading on Tuesday . The stock traded as high as $1,909.48 and last traded at $1,887.04. 12,740,605 shares changed hands during trading, a decline of 19% from the average session volume of 15,796,056 shares. The stock had previously closed at $1,766.64.

Sandisk News Summary

Here are the key news stories impacting Sandisk this week:

• Positive Sentiment: Rosenblatt’s Buy rating and $2,400 target provided a fresh valuation catalyst. Cassidy expects AI-driven demand for storage and NAND flash to support SanDisk’s growth and potentially shift the market’s view of NAND from a commodity product to strategic AI infrastructure. SanDisk Just Scored a New Buy Rating
• Positive Sentiment: Memory stocks benefited from a broader rotation into semiconductor and AI-related shares. Falling oil prices also eased inflation concerns, helping support risk appetite across technology stocks and lifting sentiment toward SanDisk and its peers. Why Memory Stocks Are Rising
• Positive Sentiment: SanDisk’s recent fundamentals remain supportive: the company reported record quarterly results, sharply higher year-over-year revenue, strong margins and earnings above expectations. Its previously authorized $14 billion share-repurchase program may also reinforce the shareholder-return story.
• Neutral Sentiment: SanDisk’s addition to the S&P 100 may generate some index-related buying and improve visibility, although the expected flow is relatively small compared with the stock’s normal trading volume. The more important driver appears to be AI-related NAND demand rather than index inclusion. SanDisk Joins the S&P 100
• Negative Sentiment: Investors continue to face risks from NAND’s cyclical pricing, potential margin normalization, weaker consumer demand and increasing Chinese competition. Analysts have also questioned whether current earnings represent a peak, leaving the stock vulnerable if AI-related demand or memory prices weaken.
• Negative Sentiment: CEO David Goeckeler recently sold approximately $53.3 million of shares under a pre-arranged Rule 10b5-1 plan. The sale is not necessarily discretionary, but repeated insider selling could still concern some investors. SEC Insider Transaction Filing

Analysts Set New Price Targets

Several research analysts have commented on the stock. Evercore restated an “outperform” rating on shares of Sandisk in a research report on Thursday, August 13th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $2,900.00 price target on shares of Sandisk in a report on Monday, August 10th. Wells Fargo & Company boosted their price objective on Sandisk from $1,400.00 to $1,550.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 13th. Citigroup lowered their target price on Sandisk from $2,500.00 to $2,100.00 and set a “buy” rating on the stock in a research report on Thursday, August 6th. Finally, New Street Research set a $3,000.00 target price on Sandisk in a research note on Thursday, August 6th. Two analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $2,015.61.

Sandisk Stock Up 6.8%

The firm has a market cap of $276.30 billion, a price-to-earnings ratio of 25.89, a price-to-earnings-growth ratio of 0.18 and a beta of 5.17. The stock’s 50 day moving average is $1,502.53 and its 200 day moving average is $1,370.55.

Sandisk (NASDAQ:SNDK) last released its earnings results on Wednesday, August 5th. The data storage provider reported $39.25 earnings per share for the quarter, topping analysts’ consensus estimates of $33.28 by $5.97. Sandisk had a return on equity of 87.84% and a net margin of 56.47%.The firm had revenue of $8.96 billion during the quarter. During the same quarter last year, the company earned $0.29 earnings per share. The business’s revenue for the quarter was up 371.6% on a year-over-year basis. Sandisk has set its Q1 2027 guidance at 44.000-46.000 EPS. Analysts anticipate that Sandisk Corporation will post 208.92 earnings per share for the current fiscal year.

Sandisk announced that its Board of Directors has authorized a stock buyback plan on Wednesday, August 5th that permits the company to repurchase $14.00 billion in shares. This repurchase authorization permits the data storage provider to reacquire up to 6.6% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s leadership believes its stock is undervalued.

Insider Transactions at Sandisk

In related news, CEO David Goeckeler sold 33,841 shares of the stock in a transaction that occurred on Thursday, September 17th. The shares were sold at an average price of $1,574.21, for a total transaction of $53,272,840.61. Following the completion of the sale, the chief executive officer directly owned 382,865 shares of the company’s stock, valued at $602,709,911.65. This represents a 8.12% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Bernard Shek sold 2,308 shares of the firm’s stock in a transaction that occurred on Tuesday, September 8th. The stock was sold at an average price of $1,767.33, for a total transaction of $4,078,997.64. Following the sale, the insider owned 25,305 shares of the company’s stock, valued at $44,722,285.65. The trade was a 8.36% 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 ninety days, insiders sold 77,899 shares of company stock worth $121,370,958. Corporate insiders own 0.21% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. BlackRock Inc. acquired a new stake in shares of Sandisk during the second quarter worth $23,408,732,000. Situational Awareness LP raised its holdings in Sandisk by 42.4% during the 2nd 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 during the period. Wellington Management Group LLP raised its holdings in Sandisk by 71.2% during the 2nd 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 during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in Sandisk by 57.4% during the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 726,722 shares of the data storage provider’s stock valued at $1,652,370,000 after buying an additional 264,935 shares in the last quarter. Finally, Bank of New York Mellon Corp purchased a new stake in Sandisk during the second quarter valued at about $1,621,353,000.

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.