Sandisk (NASDAQ:SNDK) Downgraded by Zacks Research to Hold

Sandisk (NASDAQ:SNDK) was downgraded by research analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a research note issued on Wednesday,Zacks.com reports.

Other analysts have also recently issued reports about the company. KGI Securities initiated coverage on Sandisk in a research note on Wednesday, March 18th. They issued an “outperform” rating and a $992.00 price target on the stock. Evercore reiterated an “outperform” rating and issued a $1,400.00 price objective on shares of Sandisk in a report on Friday, May 1st. Wells Fargo & Company raised their target price on Sandisk from $975.00 to $1,250.00 and gave the stock an “equal weight” rating in a research report on Friday, May 1st. Bank of America boosted their target price on Sandisk from $2,100.00 to $2,500.00 and gave the stock a “buy” rating in a research note on Wednesday. Finally, Citigroup raised their price objective on shares of Sandisk from $2,025.00 to $2,500.00 and gave the stock a “buy” rating in a report on Thursday, June 25th. Two research analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $1,684.24.

Sandisk Price Performance

Shares of Sandisk stock opened at $1,745.00 on Wednesday. The business has a 50-day moving average of $1,634.90 and a 200 day moving average of $936.43. Sandisk has a 12 month low of $40.10 and a 12 month high of $2,354.39. The stock has a market capitalization of $258.42 billion, a price-to-earnings ratio of 60.65 and a beta of 4.72.

Sandisk (NASDAQ:SNDK) last posted its quarterly earnings results on Thursday, April 30th. The data storage provider reported $23.41 EPS for the quarter, topping the consensus estimate of $14.17 by $9.24. Sandisk had a net margin of 34.19% and a return on equity of 44.06%. The business had revenue of $5.95 billion during the quarter. During the same quarter last year, the firm earned ($0.30) EPS. The business’s revenue was up 251.0% on a year-over-year basis. Sandisk has set its Q4 2026 guidance at 30.000-33.000 EPS. Equities research analysts anticipate that Sandisk will post 64.01 earnings per share for the current year.

Insider Activity

In other news, CAO Michael Pokorny sold 2,446 shares of the stock in a transaction that occurred on Tuesday, May 12th. The stock was sold at an average price of $1,426.18, for a total transaction of $3,488,436.28. Following the completion of the transaction, the chief accounting officer directly owned 22,375 shares of the company’s stock, valued at approximately $31,910,777.50. This represents a 9.85% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Necip Sayiner sold 579 shares of the firm’s stock in a transaction on Friday, May 8th. The shares were sold at an average price of $1,503.11, for a total value of $870,300.69. Following the completion of the sale, the director directly owned 2,900 shares of the company’s stock, valued at approximately $4,359,019. This trade represents a 16.64% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 6,225 shares of company stock valued at $10,166,297. Company insiders own 0.21% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the business. KERR FINANCIAL PLANNING Corp purchased a new stake in shares of Sandisk in the second quarter valued at $34,000. Valley Wealth Managers Inc. acquired a new stake in shares of Sandisk during the first quarter valued at $25,000. IMG Wealth Management Inc. purchased a new stake in Sandisk during the 1st quarter worth about $29,000. SOA Wealth Advisors LLC. increased its position in Sandisk by 108.0% during the 1st quarter. SOA Wealth Advisors LLC. now owns 52 shares of the data storage provider’s stock worth $33,000 after purchasing an additional 27 shares in the last quarter. Finally, Cedar Mountain Advisors LLC raised its stake in Sandisk by 2,750.0% in the 1st quarter. Cedar Mountain Advisors LLC now owns 57 shares of the data storage provider’s stock valued at $36,000 after purchasing an additional 55 shares during the last quarter.

More Sandisk News

Here are the key news stories impacting Sandisk this week:

• Positive Sentiment: Sandisk announced sampling of its BiCS10 1Tb TLC 3D NAND flash memory, highlighting higher density, better power efficiency, and faster interface speeds for data-intensive workloads. Article Title
• Positive Sentiment: China Renaissance raised its price target on Sandisk to $3,169, citing strong AI storage demand, while Bank of America also lifted its target to $2,500 and reiterated a buy rating. Article Title
• Neutral Sentiment: Market commentary continued to frame Sandisk as a high-volatility AI infrastructure winner, with some analysts arguing that recent swings may be creating buying opportunities on dips. Article Title
• Negative Sentiment: Investor rotation away from AI chip and memory hardware names has hit Sandisk, with traders shifting toward AI software and raising concerns about a temporary memory-sector pullback. Article Title
• Negative Sentiment: Heavy profit-taking and broader supply-glut fears in memory stocks also weighed on Sandisk, adding to the sector-wide decline despite the company’s strong fundamentals. Article Title
• Negative Sentiment: Insider Bernard Shek sold 600 shares under a pre-arranged 10b5-1 plan, which may add a little caution even though the sale was disclosed as routine. Article Title

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.