Sandisk (NASDAQ:SNDK) Trading 2.7% Higher – Here’s Why

Sandisk Corporation (NASDAQ:SNDK)’s stock price shot up 2.7% on Monday . The stock traded as high as $1,454.99 and last traded at $1,390.95. 12,371,526 shares traded hands during mid-day trading, a decline of 25% from the average session volume of 16,414,275 shares. The stock had previously closed at $1,354.82.

Key Sandisk News

Here are the key news stories impacting Sandisk this week:

• Positive Sentiment: Multiple reports pointed to a renewed rebound in memory chips, with Morgan Stanley forecasting memory prices to rise at least 25% from Q2 to Q3, helping lift Sandisk alongside Micron and Western Digital. Micron, Western Digital, and Sandisk Just Jumped 12% to 14%. Here’s the Forecast That Did It.
• Positive Sentiment: Analysts and strategists continue to frame the recent chip selloff as a buying opportunity, citing a potential $1.1 trillion AI spending cycle and signs that hedge-fund de-risking in semiconductors may be nearing exhaustion. Wall Street Says the Chip Selloff Is a Gift: $1.1 Trillion in AI Spending Is Coming
• Positive Sentiment: Sandisk is being highlighted as an attractively valued AI/memory play, with commentary pointing to discounted valuation, NAND demand, enterprise SSD growth, and multiyear supply deals supporting the longer-term thesis. Sandisk Trades at 8.3X Discounted P/E: Time to Buy the Stock?
• Positive Sentiment: Wall Street commentary remains bullish, with Bernstein reiterating a positive outlook and other analysts seeing room for a broader rebound after the recent momentum unwind. Wall Street analyst sets SNDK stock price target for 12 months
• Neutral Sentiment: Wednesday’s weakness was largely tied to broader market profit-taking and softer index futures after Tuesday’s sharp memory-chip rally, suggesting the pullback was more technical than fundamental. Why Is Sandisk Stock Falling on Wednesday?

Wall Street Analyst Weigh In

Several research firms have commented on SNDK. Susquehanna boosted their price target on shares of Sandisk from $2,000.00 to $3,250.00 and gave the stock a “positive” rating in a report on Friday, May 29th. Argus initiated coverage on shares of Sandisk in a report on Wednesday, July 15th. They issued a “hold” rating on the stock. Wedbush lifted their price objective on shares of Sandisk from $1,200.00 to $2,000.00 and gave the stock an “outperform” rating in a research report on Thursday, July 9th. Royal Bank Of Canada boosted their target price on shares of Sandisk from $650.00 to $1,000.00 and gave the stock a “sector perform” rating in a research note on Friday, May 1st. Finally, Bank of America increased their target price on Sandisk from $2,100.00 to $2,500.00 and gave the company a “buy” rating in a report on Wednesday, July 1st. Two analysts have rated the stock with a Strong Buy rating, twenty have issued a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $1,820.90.

Sandisk Stock Up 0.4%

The company has a market cap of $236.24 billion, a price-to-earnings ratio of 55.29 and a beta of 4.74. The business’s fifty day simple moving average is $1,745.86 and its two-hundred day simple moving average is $1,065.78.

Sandisk (NASDAQ:SNDK) last issued its earnings results on Thursday, April 30th. The data storage provider reported $23.41 earnings per share (EPS) for the quarter, beating 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 in the previous year, the company posted ($0.30) EPS. The company’s quarterly revenue was up 251.0% on a year-over-year basis. Sandisk has set its Q4 2026 guidance at 30.000-33.000 EPS. Sell-side analysts predict that Sandisk Corporation will post 64.52 EPS for the current fiscal year.

Insider Transactions at Sandisk

In other news, Director Necip Sayiner sold 579 shares of the business’s stock in a transaction dated Friday, May 8th. The stock was 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. The trade was a 16.64% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Michael Pokorny sold 2,446 shares of the company’s stock in a transaction dated Tuesday, May 12th. The shares were sold at an average price of $1,426.18, for a total value of $3,488,436.28. Following the completion of the sale, the chief accounting officer directly owned 22,375 shares of the company’s stock, valued at approximately $31,910,777.50. This trade represents a 9.85% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 6,225 shares of company stock worth $10,166,297 over the last three months. 0.21% of the stock is currently owned by company insiders.

Institutional Trading of Sandisk

Several institutional investors and hedge funds have recently bought and sold shares of the business. Osaic Holdings Inc. acquired a new position in Sandisk in the second quarter valued at $317,000. Merit Financial Group LLC acquired a new position in Sandisk in the 3rd quarter valued at about $408,000. Dimensional Fund Advisors LP purchased a new stake in Sandisk during the 3rd quarter valued at approximately $100,080,000. First Trust Advisors LP acquired a new stake in Sandisk during the 3rd quarter worth approximately $9,788,000. Finally, Blair William & Co. IL purchased a new position in shares of Sandisk in the 3rd quarter valued at approximately $591,000.

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.