Sandisk (NASDAQ:SNDK) Cut to “Buy” at Wall Street Zen

Wall Street Zen downgraded shares of Sandisk (NASDAQ:SNDK) from a strong-buy rating to a buy rating in a research note published on Saturday.

Other analysts have also recently issued research reports about the stock. Benchmark restated a “buy” rating on shares of Sandisk in a research note on Thursday, December 18th. Susquehanna raised their price objective on shares of Sandisk from $250.00 to $300.00 and gave the company a “positive” rating in a research report on Monday, December 8th. Barclays lifted their price objective on Sandisk from $39.00 to $220.00 and gave the company an “equal weight” rating in a report on Monday, November 10th. UBS Group reiterated an “overweight” rating and set a $230.00 target price on shares of Sandisk in a research report on Monday, November 3rd. Finally, Weiss Ratings reissued a “sell (d+)” rating on shares of Sandisk in a research note on Monday, December 22nd. Three equities research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, six have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Sandisk presently has a consensus rating of “Moderate Buy” and a consensus target price of $213.33.

Sandisk Trading Down 2.3%

Shares of SNDK stock opened at $244.25 on Friday. The company has a market capitalization of $35.79 billion and a P/E ratio of 763.28. The company has a current ratio of 3.29, a quick ratio of 2.03 and a debt-to-equity ratio of 0.14. The business’s 50 day moving average is $219.46 and its two-hundred day moving average is $120.59. Sandisk has a twelve month low of $27.89 and a twelve month high of $284.76.

Sandisk (NASDAQ:SNDK) last released its quarterly earnings results on Thursday, November 6th. The data storage provider reported $1.22 EPS for the quarter, topping the consensus estimate of $0.58 by $0.64. The company had revenue of $2.31 billion for the quarter, compared to analysts’ expectations of $2.12 billion. The business’s revenue was up 22.6% compared to the same quarter last year. Sandisk has set its Q2 2026 guidance at 3.000-3.40 EPS.

Insider Transactions at Sandisk

In other Sandisk news, Director Necip Sayiner sold 1,271 shares of the business’s stock in a transaction on Wednesday, December 3rd. The stock was sold at an average price of $195.14, for a total transaction of $248,022.94. Following the sale, the director directly owned 3,479 shares in the company, valued at approximately $678,892.06. The trade was a 26.76% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.21% of the company’s stock.

Institutional Investors Weigh In On Sandisk

Several institutional investors and hedge funds have recently made changes to their positions in SNDK. Osaic Holdings Inc. acquired a new position in Sandisk during the second quarter worth about $317,000. Corient Private Wealth LLC purchased a new position in shares of Sandisk during the 2nd quarter worth approximately $353,000. Praxis Investment Management Inc. acquired a new position in shares of Sandisk during the 3rd quarter worth approximately $533,000. GAMMA Investing LLC acquired a new position in shares of Sandisk during the 3rd quarter worth approximately $439,000. Finally, Voya Investment Management LLC purchased a new stake in Sandisk in the 3rd quarter valued at approximately $8,917,000.

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.