Sandisk (NASDAQ:SNDK) Shares Up 11.9% – What’s Next?

Sandisk Corporation (NASDAQ:SNDK) shot up 11.9% during trading on Friday . The stock traded as high as $1,740.00 and last traded at $1,740.00. Approximately 16,163,652 shares were traded during mid-day trading, an increase of 0% from the average session volume of 16,153,852 shares. The stock had previously closed at $1,554.99.

Key Sandisk News

Here are the key news stories impacting Sandisk this week:

• Positive Sentiment: Memory stocks, including SanDisk, rallied as investors bet that AI data-center expansion will intensify demand for NAND storage. Nvidia’s reported $12.9 billion acquisition of Hugging Face reinforced expectations for continued AI infrastructure investment and higher memory consumption. SanDisk Shares Surge Following Nvidia’s Hugging Face Deal
• Positive Sentiment: Lynx Research remained bullish on the memory sector and assigned SanDisk a $2,450 price target, while other analysts continue to cite tight supply, improving NAND pricing and a potentially stronger memory upcycle. Lynx Research Memory Stock Outlook
• Positive Sentiment: The bullish narrative is supported by SanDisk’s latest earnings beat, 371.6% year-over-year revenue growth and above-consensus guidance. The company’s previously announced $14 billion share-repurchase authorization also signals management confidence in cash generation and valuation.
• Neutral Sentiment: SanDisk outperformed a weaker broader market, as the hot employment report briefly pushed expectations for a September Federal Reserve rate hike above 50%. Memory and other AI-related stocks held up better because sector-specific demand concerns outweighed macroeconomic pressure. Micron and SanDisk Move Despite Hot Jobs Report
• Neutral Sentiment: Management will participate in Citi’s Global TMT Conference and Goldman Sachs’ Communacopia + Technology Conference on September 8–9, potentially giving investors updated commentary on demand, supply and pricing. SanDisk Investor Conference Announcement
• Negative Sentiment: Investors continue to monitor risks from Chinese memory manufacturers gaining DRAM and NAND market share, which could eventually pressure SanDisk’s pricing, margins and market position. A prearranged insider sale of 600 shares was an additional, though limited, cautionary signal.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Sanford C. Bernstein reaffirmed an “outperform” rating on shares of Sandisk in a report on Thursday, August 6th. JPMorgan Chase & Co. initiated coverage on Sandisk in a report on Friday, August 14th. They set an “overweight” rating and a $2,250.00 target price on the stock. Melius Research set a $2,350.00 price objective on Sandisk in a research report on Monday, May 18th. UBS Group restated an “overweight” rating and set a $1,750.00 price objective on shares of Sandisk in a report on Friday, August 14th. Finally, Mizuho decreased their target price on shares of Sandisk from $1,900.00 to $1,875.00 and set an “outperform” rating for the company in a report on Tuesday, August 25th. Three analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat, Sandisk currently has an average rating of “Buy” and a consensus price target of $1,998.14.

Sandisk Price Performance

The firm has a market cap of $254.77 billion, a PE ratio of 23.87, a P/E/G ratio of 0.15 and a beta of 5.17. The business has a fifty day moving average price of $1,550.34 and a two-hundred day moving average price of $1,281.92.

Sandisk (NASDAQ:SNDK) last announced its quarterly earnings data on Wednesday, August 5th. The data storage provider reported $39.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $33.28 by $5.97. Sandisk had a return on equity of 87.84% and a net margin of 56.47%.The firm had revenue of $8.96 billion during the quarter. During the same period in the prior year, the company posted $0.29 earnings per share. The firm’s revenue was up 371.6% on a year-over-year basis. Sandisk has set its Q1 2027 guidance at 44.000-46.000 EPS. As a group, sell-side analysts forecast that Sandisk Corporation will post 208.92 EPS for the current fiscal year.

Sandisk declared that its Board of Directors has authorized a share repurchase plan on Wednesday, August 5th that allows the company to repurchase $14.00 billion in outstanding shares. This repurchase authorization allows the data storage provider to reacquire up to 6.6% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board of directors believes its shares are undervalued.

Insider Activity at Sandisk

In related news, insider Bernard Shek sold 600 shares of the firm’s stock in a transaction that occurred on Tuesday, September 1st. The shares were sold at an average price of $1,525.60, for a total transaction of $915,360.00. Following the completion of the sale, the insider directly owned 29,884 shares in the company, valued at approximately $45,591,030.40. This trade represents a 1.97% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 1,800 shares of company stock worth $2,865,456 in the last ninety days. Company insiders own 0.21% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. California State Teachers Retirement System raised its position in Sandisk by 235,032.6% during the second quarter. California State Teachers Retirement System now owns 380,392,755 shares of the data storage provider’s stock valued at $864,910,419,000 after acquiring an additional 380,230,977 shares in the last quarter. BlackRock Inc. acquired a new position in shares of Sandisk during the 2nd quarter worth $23,408,732,000. State Street Corp raised 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 valued at $1,253,728,000 after purchasing an additional 904,933 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Sandisk by 44.9% in the fourth quarter. Geode Capital Management LLC now owns 3,655,860 shares of the data storage provider’s stock worth $866,310,000 after buying an additional 1,133,276 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership boosted its position in Sandisk by 31.3% during the fourth 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.

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.