China Renaissance Begins Coverage on Sandisk (NASDAQ:SNDK)

Equities researchers at China Renaissance assumed coverage on shares of Sandisk (NASDAQ:SNDK) in a note issued to investors on Friday,Benzinga reports. The firm set a “buy” rating and a $322.00 price target on the data storage provider’s stock. China Renaissance’s target price suggests a potential upside of 50.95% from the stock’s previous close.

Several other equities analysts have also weighed in on the stock. Morgan Stanley raised their price objective on shares of Sandisk from $263.00 to $273.00 and gave the company an “overweight” rating in a research report on Monday, November 24th. Weiss Ratings reissued a “sell (d+)” rating on shares of Sandisk in a research note on Monday. UBS Group restated an “overweight” rating and set a $230.00 target price on shares of Sandisk in a report on Monday, November 3rd. Benchmark lifted their price target on shares of Sandisk from $125.00 to $260.00 and gave the stock a “buy” rating in a research report on Friday, November 7th. Finally, The Goldman Sachs Group increased their price objective on Sandisk from $55.00 to $140.00 and gave the company a “buy” rating in a research report on Thursday, October 9th. Three equities research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $201.00.

Sandisk Stock Up 9.7%

SNDK opened at $213.31 on Friday. Sandisk has a one year low of $27.89 and a one year high of $284.76. The company has a debt-to-equity ratio of 0.14, a quick ratio of 2.03 and a current ratio of 3.29. The stock’s fifty day moving average is $184.03 and its 200-day moving average is $96.91. The company has a market capitalization of $31.26 billion and a PE ratio of 666.59.

Sandisk (NASDAQ:SNDK) last announced its earnings results on Thursday, November 6th. The data storage provider reported $1.22 earnings per share for the quarter, beating the consensus estimate of $0.58 by $0.64. The firm had revenue of $2.31 billion for the quarter, compared to the consensus estimate of $2.12 billion. The firm’s quarterly revenue was up 22.6% compared to the same quarter last year. Sandisk has set its Q2 2026 guidance at 3.000-3.40 EPS.

Insider Activity

In related news, Director Necip Sayiner sold 1,271 shares of the company’s stock in a transaction that occurred on Wednesday, December 3rd. The shares were sold at an average price of $195.14, for a total value of $248,022.94. Following the completion of the sale, the director owned 3,479 shares in the company, valued at approximately $678,892.06. This represents a 26.76% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.21% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Sandisk

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in shares of Sandisk in the third quarter valued at $27,000. CVA Family Office LLC purchased a new position in shares of Sandisk during the third quarter valued at $28,000. Parallel Advisors LLC acquired a new position in Sandisk during the third quarter valued at $30,000. Northwestern Mutual Wealth Management Co. acquired a new position in Sandisk during the third quarter valued at $32,000. Finally, Covestor Ltd purchased a new stake in Sandisk in the 3rd quarter worth about $37,000.

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.