Sandisk (NASDAQ:SNDK) Shares Down 3.5% – Here’s What Happened

Sandisk Corporation (NASDAQ:SNDK) traded down 3.5% during trading on Thursday. The stock traded as low as $1,726.39 and last traded at $1,753.62. 8,125,441 shares traded hands during trading, a decline of 48% from the average session volume of 15,711,091 shares. The stock had previously closed at $1,816.57.

Key Sandisk News

Here are the key news stories impacting Sandisk this week:

• Positive Sentiment: Rosenblatt initiated coverage with a “Strong Buy” rating and a $2,400 price target, implying continued upside based on expectations that AI workloads will create sustained demand for enterprise NAND and high-bandwidth flash storage. Why Rosenblatt Thinks Sandisk Stock Is Headed for $2,400
• Positive Sentiment: Sandisk has reportedly secured buyers for about half of its current-year output and roughly two-thirds of next year’s production, with price floors that could provide revenue visibility and protection if NAND pricing weakens. Sandisk Has Signed Away Two Thirds of Next Year’s Output
• Positive Sentiment: Analysts continue to argue that AI inferencing, hyperscaler expansion and constrained enterprise-storage supply could support a multiyear earnings growth cycle. Sandisk’s strong margins, cash generation and additional business commitments reinforce that outlook. Sandisk: Market Is Still Undervaluing the AI Supercycle Upside
• Positive Sentiment: Sandisk’s inclusion in the S&P 100 and a sizable share-repurchase authorization—reported at approximately $14 billion to $15.5 billion—could support demand for the stock and increase future earnings per share by reducing the share count. Sandisk Joins the S&P 100
• Neutral Sentiment: Sandisk and Kioxia plan to invest more than $31 billion in Japan, potentially expanding future memory capacity and strengthening their position in the global market, although the investment also raises execution and capital-spending considerations. Kioxia and Sandisk to Invest Over $31 Billion in Japan
• Negative Sentiment: The immediate weakness is largely sector-wide, with Micron and SK hynix also retreating as investors lock in gains and reassess how much AI optimism is already reflected in memory-stock valuations. Why Memory Stocks Are Down Today
• Negative Sentiment: Risks include weak consumer-storage demand, higher costs, possible NAND-price normalization, competition from Chinese suppliers and a premium valuation that leaves the stock vulnerable to profit-taking. A recent executive share sale may also weigh modestly on sentiment.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the company. Rosenblatt Securities started coverage on Sandisk in a research report on Tuesday. They issued a “buy” rating and a $2,400.00 price objective on the stock. Weiss Ratings downgraded Sandisk from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Thursday, September 10th. JPMorgan Chase & Co. started coverage on shares of Sandisk in a research note on Friday, August 14th. They set an “overweight” rating and a $2,250.00 price target on the stock. Zacks Research lowered Sandisk from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 7th. Finally, Sanford C. Bernstein reiterated an “outperform” rating on shares of Sandisk in a research note on Thursday, August 6th. Three analysts have rated the stock with a Strong Buy rating, twenty have issued a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $2,015.61.

Sandisk Trading Down 3.5%

The stock has a market cap of $256.76 billion, a P/E ratio of 24.06, a PEG ratio of 0.19 and a beta of 5.17. The firm’s 50-day simple moving average is $1,509.14 and its 200 day simple moving average is $1,388.43.

Sandisk (NASDAQ:SNDK) last announced its quarterly earnings results on Wednesday, August 5th. The data storage provider reported $39.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $33.28 by $5.97. The company had revenue of $8.96 billion during the quarter. Sandisk had a return on equity of 87.84% and a net margin of 56.47%.The company’s revenue was up 371.6% compared to the same quarter last year. During the same quarter last year, the firm posted $0.29 EPS. Sandisk has set its Q1 2027 guidance at 44.000-46.000 EPS. On average, analysts anticipate that Sandisk Corporation will post 208.94 EPS for the current year.

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

Insider Transactions at Sandisk

In other news, CFO Luis Visoso sold 1,000 shares of the business’s stock in a transaction on Tuesday, September 15th. The stock was sold at an average price of $1,568.83, for a total value of $1,568,830.00. Following the sale, the chief financial officer owned 130,976 shares of the company’s stock, valued at approximately $205,479,078.08. The trade was a 0.76% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO David Goeckeler sold 33,841 shares of the business’s stock in a transaction dated Thursday, September 17th. The stock was sold at an average price of $1,574.21, for a total transaction of $53,272,840.61. Following the completion of the sale, the chief executive officer owned 382,865 shares in the company, valued at approximately $602,709,911.65. This trade represents a 8.12% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 77,899 shares of company stock valued at $121,370,958 in the last quarter. Company insiders own 0.21% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. Handelsbanken Fonder AB grew its position in Sandisk by 35.1% during the 2nd quarter. Handelsbanken Fonder AB now owns 57,564 shares of the data storage provider’s stock worth $130,885,000 after purchasing an additional 14,964 shares in the last quarter. Focus Partners Advisor Solutions LLC acquired a new stake in Sandisk in the second quarter valued at approximately $4,775,000. Florida Financial Advisors LLC acquired a new stake in shares of Sandisk in the first quarter worth about $2,747,000. UNICOM Systems Inc. raised its position in shares of Sandisk by 14.9% in the second quarter. UNICOM Systems Inc. now owns 58,500 shares of the data storage provider’s stock valued at $133,013,000 after purchasing an additional 7,600 shares during the period. Finally, Affinity Capital Advisors LLC bought a new stake in Sandisk during the 2nd quarter valued at approximately $2,506,000.

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.