Sandisk (NASDAQ:SNDK) Shares Gap Up – Still a Buy?

Sandisk Corporation (NASDAQ:SNDK) gapped up prior to trading on Tuesday . The stock had previously closed at $274.08, but opened at $288.75. Sandisk shares last traded at $327.69, with a volume of 6,250,507 shares.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. Citigroup lifted their price objective on shares of Sandisk from $150.00 to $280.00 and gave the company a “buy” rating in a research report on Friday, November 7th. Bank of America raised their target price on shares of Sandisk from $270.00 to $300.00 and gave the company a “buy” rating in a research note on Thursday, November 20th. Weiss Ratings reiterated a “sell (d+)” rating on shares of Sandisk in a report on Monday, December 29th. Wall Street Zen cut shares of Sandisk from a “strong-buy” rating to a “buy” rating in a research note on Saturday, December 27th. Finally, Fox Advisors raised shares of Sandisk from a “hold” rating to a “strong-buy” rating in a report on Friday, November 7th. Three analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $213.33.

Sandisk Stock Up 23.9%

The firm has a market cap of $49.77 billion and a P/E ratio of 1,061.34. The company’s 50-day simple moving average is $228.23 and its 200 day simple moving average is $127.95. The company has a debt-to-equity ratio of 0.14, a current ratio of 3.29 and a quick ratio of 2.03.

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

Insiders Place Their Bets

In other Sandisk news, Director Necip Sayiner sold 1,271 shares of the company’s stock in a transaction that occurred on Wednesday, December 3rd. The stock was sold at an average price of $195.14, for a total transaction of $248,022.94. Following the sale, the director directly owned 3,479 shares in the company, valued at $678,892.06. This represents a 26.76% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. 0.21% of the stock is owned by insiders.

Hedge Funds Weigh In On Sandisk

Institutional investors and hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. purchased a new stake in Sandisk during the 3rd quarter valued at $1,970,388,000. State Street Corp bought a new position in Sandisk during the third quarter valued at $491,053,000. Arrowstreet Capital Limited Partnership purchased a new stake in shares of Sandisk in the third quarter valued at $297,293,000. Bank of America Corp DE purchased a new stake in shares of Sandisk in the third quarter valued at $190,425,000. Finally, AQR Capital Management LLC bought a new stake in shares of Sandisk in the 3rd quarter worth about $163,057,000.

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.