Sandisk (NASDAQ:SNDK) Stock Price Up 11.8% Following Analyst Upgrade

Sandisk Corporation (NASDAQ:SNDK) shares traded up 11.8% during trading on Monday after Citigroup raised their price target on the stock from $875.00 to $980.00. Citigroup currently has a buy rating on the stock. Sandisk traded as high as $953.41 and last traded at $952.50. 19,296,516 shares changed hands during trading, an increase of 0% from the average session volume of 19,239,326 shares. The stock had previously closed at $851.77.

Several other analysts have also recently issued reports on the stock. UBS Group set a $1,000.00 price objective on shares of Sandisk in a research note on Monday, February 2nd. KGI Securities started coverage on shares of Sandisk in a research note on Wednesday, March 18th. They set an “outperform” rating and a $992.00 price objective for the company. Wedbush upped their price objective on shares of Sandisk from $600.00 to $740.00 and gave the company an “outperform” rating in a research note on Friday, January 30th. Barclays upped their price objective on shares of Sandisk from $385.00 to $750.00 and gave the company an “equal weight” rating in a research note on Monday, February 2nd. Finally, Mizuho upped their price objective on shares of Sandisk from $710.00 to $1,000.00 and gave the company an “outperform” rating in a research note on Friday. Two analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Sandisk has an average rating of “Moderate Buy” and an average price target of $659.95.

Insider Transactions at Sandisk

In other news, Director Miyuki Suzuki sold 3,500 shares of the stock in a transaction that occurred on Wednesday, February 25th. The shares were sold at an average price of $627.53, for a total value of $2,196,355.00. Following the completion of the sale, the director owned 9,907 shares of the company’s stock, valued at $6,216,939.71. This represents a 26.11% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 0.21% of the stock is currently owned by insiders.

Key Headlines Impacting Sandisk

Here are the key news stories impacting Sandisk this week:

• Positive Sentiment: Nasdaq‑100 inclusion: Nasdaq confirmed SNDK will join the Nasdaq‑100 on April 20, which typically forces passive index flows and raises institutional visibility — a near‑term buyer for the shares. SanDisk shares rise on Nasdaq-100 inclusion
• Positive Sentiment: Analyst upgrade/price target lift: Citigroup raised its price target to $980 and reiterated a Buy rating, signaling incremental buy‑side interest and supporting the stock’s near‑term momentum. Citi raises price target
• Positive Sentiment: AI-driven NAND/DRAM demand & ETF spotlight: Broad market coverage highlights a memory shortage and surging AI data‑center demand; a new DRAM ETF aims to concentrate flows into memory names, which can amplify investor interest in SNDK as a beneficiary of the AI memory supercycle. This New ETF Aims to Capitalize on Surging AI Memory Chip Demand
• Neutral Sentiment: Momentum & technical attention: Commentators note SNDK has posted massive gains (multi‑thousand percent over 12 months) and is at new highs — that attracts momentum traders but also raises volatility risk and the need for active risk management. SanDisk Stock Is Up 2,640% in the Past Year
• Negative Sentiment: Caution on valuation & cyclicality: Critical analysis argues SNDK looks priced for “secular perfection” despite memory industry cyclicality — a pullback in NAND pricing or AI demand could trigger sharp downside after such a steep rally. Sandisk: A Cyclical Stock Priced For Secular Perfection

Institutional Trading of Sandisk

Several hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. purchased a new stake in shares of Sandisk in the 3rd quarter valued at approximately $1,970,388,000. State Street Corp grew its holdings in shares of Sandisk by 20.7% during the 4th quarter. State Street Corp now owns 5,281,522 shares of the data storage provider’s stock worth $1,253,728,000 after purchasing an additional 904,933 shares during the period. Geode Capital Management LLC grew its holdings in shares of Sandisk by 44.9% during the 4th quarter. Geode Capital Management LLC now owns 3,655,860 shares of the data storage provider’s stock worth $866,310,000 after purchasing an additional 1,133,276 shares during the period. Arrowstreet Capital Limited Partnership grew its holdings in shares of Sandisk by 31.3% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 3,478,002 shares of the data storage provider’s stock worth $825,608,000 after purchasing an additional 828,332 shares during the period. Finally, Morgan Stanley grew its holdings in shares of Sandisk by 7.2% during the 4th quarter. Morgan Stanley now owns 2,970,361 shares of the data storage provider’s stock worth $705,105,000 after purchasing an additional 199,545 shares during the period.

Sandisk Trading Up 11.8%

The firm has a market capitalization of $140.59 billion, a PE ratio of -125.49 and a beta of 5.04. The company has a current ratio of 3.11, a quick ratio of 1.92 and a debt-to-equity ratio of 0.06. The business has a fifty day moving average price of $652.35 and a two-hundred day moving average price of $390.41.

Sandisk (NASDAQ:SNDK) last released its quarterly earnings results on Thursday, January 29th. The data storage provider reported $6.20 earnings per share for the quarter, topping analysts’ consensus estimates of $3.31 by $2.89. The business had revenue of $3.03 billion during the quarter, compared to analysts’ expectations of $2.67 billion. Sandisk had a positive return on equity of 10.11% and a negative net margin of 11.66%.The firm’s quarterly revenue was up 61.2% on a year-over-year basis.

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.