Sandisk (NASDAQ:SNDK) Trading 11% Higher – Here’s What Happened

Sandisk Corporation (NASDAQ:SNDK)’s share price shot up 11% on Friday . The stock traded as high as $1,797.00 and last traded at $1,791.82. Approximately 17,296,647 shares changed hands during trading, an increase of 9% from the average daily volume of 15,837,746 shares. The stock had previously closed at $1,614.39.

Trending Headlines about Sandisk

Here are the key news stories impacting Sandisk this week:

• Positive Sentiment: Sandisk’s planned addition to the S&P 100 could increase visibility and generate additional demand from index-tracking funds. Why is SanDisk stock gaining 8% today?
• Positive Sentiment: Investors continue to focus on Sandisk’s strong financial momentum. The company recently reported quarterly earnings of $39.25 per share, ahead of the $33.28 consensus estimate, while revenue surged 371.6% year over year to approximately $8.97 billion. SanDisk stock surges on earnings and buyback
• Positive Sentiment: A newly authorized $14 billion share-repurchase program, equal to roughly 6.6% of shares outstanding, is supporting the bullish case by potentially reducing share count and signaling management’s confidence in valuation and cash generation. Sandisk unveiled a $14 billion buyback
• Positive Sentiment: AI infrastructure demand is boosting expectations for NAND flash and SSD products, while a broader rally in memory stocks has improved sector sentiment. Why AI memory stocks are rising
• Neutral Sentiment: Analyst commentary remains favorable, with Sandisk viewed as a direct way to participate in AI-driven storage growth; however, the stock’s sharp prior advance makes it sensitive to profit-taking and changing expectations.
• Negative Sentiment: China’s ChangXin Memory Technologies is preparing to enter the NAND market, creating a longer-term competitive threat that could pressure pricing and margins. CXMT enters the NAND market
• Negative Sentiment: CEO David Goeckeler and CFO Luis Felipe Visoso recently sold shares under pre-arranged trading plans. The sales were relatively small compared with their remaining holdings but may add caution after the stock’s substantial run.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on SNDK shares. Evercore reissued an “outperform” rating on shares of Sandisk in a research note on Thursday, August 13th. New Street Research set a $3,000.00 target price on shares of Sandisk in a report on Thursday, August 6th. Argus raised shares of Sandisk from a “hold” rating to a “buy” rating in a research note on Monday, August 10th. Susquehanna lowered their price objective on shares of Sandisk from $3,250.00 to $3,050.00 and set a “positive” rating for the company in a research report on Thursday, July 23rd. Finally, Weiss Ratings cut shares of Sandisk from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Thursday, September 10th. Two research analysts have rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat.com, Sandisk currently has an average rating of “Moderate Buy” and an average price target of $1,998.14.

Sandisk Stock Up 11.0%

The company’s fifty day moving average is $1,503.16 and its 200 day moving average is $1,353.83. The firm has a market cap of $262.36 billion, a price-to-earnings ratio of 24.58, a PEG ratio of 0.15 and a beta of 5.17.

Sandisk (NASDAQ:SNDK) last issued its quarterly earnings results on Wednesday, August 5th. The data storage provider reported $39.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $33.28 by $5.97. Sandisk had a net margin of 56.47% and a return on equity of 87.84%. The firm had revenue of $8.96 billion for the quarter. During the same quarter in the previous year, the firm posted $0.29 earnings per share. The firm’s quarterly revenue was up 371.6% on a year-over-year basis. Sandisk has set its Q1 2027 guidance at 44.000-46.000 EPS. On average, equities research 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 stock buyback plan on Wednesday, August 5th that authorizes the company to repurchase $14.00 billion in shares. This repurchase authorization authorizes the data storage provider to buy up to 6.6% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board of directors believes its shares are undervalued.

Insider Buying and Selling

In related news, EVP Alper Ilkbahar sold 4,712 shares of the company’s stock in a transaction dated Thursday, September 3rd. The stock was sold at an average price of $1,540.58, for a total transaction of $7,259,212.96. Following the sale, the executive vice president owned 44,134 shares in the company, valued at approximately $67,991,957.72. This represents a 9.65% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO David Goeckeler sold 33,838 shares of the stock in a transaction that occurred on Monday, September 14th. The shares were sold at an average price of $1,527.87, for a total value of $51,700,065.06. Following the transaction, the chief executive officer directly owned 413,410 shares of the company’s stock, valued at $631,636,736.70. This trade represents a 7.57% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 44,058 shares of company stock worth $68,098,118 in the last three months. Insiders own 0.21% of the company’s stock.

Institutional Investors Weigh In On Sandisk

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. SkyView Investment Advisors LLC acquired a new position in Sandisk during the second quarter worth $455,000. Bouchey Financial Group Ltd. bought a new position in shares of Sandisk in the 2nd quarter valued at about $296,000. Capstone Financial Advisors Inc. bought a new position in shares of Sandisk in the 2nd quarter valued at about $398,000. IPG Investment Advisors LLC acquired a new stake in Sandisk in the 2nd quarter valued at about $2,776,000. Finally, MCF Advisors LLC grew its holdings in Sandisk by 1,086.8% during the second quarter. MCF Advisors LLC now owns 451 shares of the data storage provider’s stock worth $1,025,000 after purchasing an additional 413 shares during the period.

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.