Sandisk (NASDAQ:SNDK) Raised to Strong-Buy at Rosenblatt Securities

Sandisk (NASDAQ:SNDK) was upgraded by Rosenblatt Securities to a “strong-buy” rating in a research note issued to investors on Monday, Zacks reports.

A number of other brokerages have also weighed in on SNDK. Argus raised shares of Sandisk from a “hold” rating to a “buy” rating in a research note on Monday, August 10th. Citigroup cut their price objective on Sandisk from $2,500.00 to $2,100.00 and set a “buy” rating for the company in a research note on Thursday, August 6th. The Goldman Sachs Group reissued a “buy” rating and set a $2,200.00 target price on shares of Sandisk in a report on Thursday, August 13th. Evercore restated an “outperform” rating on shares of Sandisk in a research report on Thursday, August 13th. Finally, Weiss Ratings lowered Sandisk from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Thursday, September 10th. Three equities 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. According to data from MarketBeat.com, Sandisk currently has a consensus rating of “Moderate Buy” and an average price target of $2,015.61.

Sandisk Stock Performance

Shares of NASDAQ SNDK opened at $1,887.04 on Monday. The firm has a fifty day moving average of $1,505.11 and a 200 day moving average of $1,379.62. The firm has a market cap of $276.30 billion, a PE ratio of 25.89, a PEG ratio of 0.18 and a beta of 5.17. Sandisk has a one year low of $93.54 and a one year high of $2,354.39.

Sandisk (NASDAQ:SNDK) last posted its quarterly earnings data 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 business had revenue of $8.96 billion for the quarter. During the same period in the previous year, the business earned $0.29 earnings per share. The business’s revenue for the quarter 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 analysts predict that Sandisk will post 208.94 EPS for the current fiscal year.

Sandisk declared that its Board of Directors has approved a share repurchase program on Wednesday, August 5th that permits the company to buyback $14.00 billion in outstanding shares. This buyback authorization permits the data storage provider to purchase up to 6.6% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board of directors believes its shares are undervalued.

Insider Activity

In other Sandisk news, EVP Alper Ilkbahar sold 4,712 shares of the business’s stock in a transaction dated Thursday, September 3rd. The shares were sold at an average price of $1,540.58, for a total value of $7,259,212.96. Following the transaction, the executive vice president directly owned 44,134 shares in the company, valued at $67,991,957.72. The trade was a 9.65% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Luis Visoso sold 1,000 shares of the stock in a transaction that occurred on Tuesday, September 15th. The shares were sold at an average price of $1,568.83, for a total transaction of $1,568,830.00. Following the completion of the sale, the chief financial officer directly owned 130,976 shares of the company’s stock, valued at approximately $205,479,078.08. This trade represents a 0.76% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 77,899 shares of company stock valued at $121,370,958. Company insiders own 0.21% of the company’s stock.

Institutional Investors Weigh In On Sandisk

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Handelsbanken Fonder AB grew its holdings in shares of Sandisk by 35.1% in the second quarter. Handelsbanken Fonder AB now owns 57,564 shares of the data storage provider’s stock valued at $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 during the 2nd quarter worth approximately $4,775,000. Florida Financial Advisors LLC purchased a new position in Sandisk in the 1st quarter valued at approximately $2,747,000. UNICOM Systems Inc. boosted its position in Sandisk by 14.9% in the 2nd quarter. UNICOM Systems Inc. now owns 58,500 shares of the data storage provider’s stock valued at $133,013,000 after buying an additional 7,600 shares during the period. Finally, Affinity Capital Advisors LLC acquired a new position in shares of Sandisk in the second quarter worth $2,506,000.

Trending Headlines about Sandisk

Here are the key news stories impacting Sandisk this week:

• Positive Sentiment: Rosenblatt Securities initiated coverage with a Buy rating and a $2,400 price target, implying roughly 27% upside from the referenced price. Analyst Kevin Cassidy argues that AI workloads are making NAND flash a more critical part of computing infrastructure rather than merely a commodity product. SanDisk Just Scored a New Buy Rating
• Positive Sentiment: Memory stocks broadly strengthened as investors rotated back into AI and semiconductor names. Expectations for sustained AI infrastructure spending, tight memory supply and favorable NAND pricing are supporting Sandisk and peers including Micron and SK Hynix. Sandisk Climbs Amid Storage-Sector Strength
• Positive Sentiment: Sandisk’s recent operating performance remains a major part of the bull case: quarterly earnings substantially exceeded estimates, revenue surged year over year, and management authorized a $14 billion share-repurchase program. The company’s addition to the S&P 100 also improves its visibility, although the direct index-buying effect is likely limited. Sandisk Buyback Coverage
• Neutral Sentiment: CEO David Goeckeler sold approximately $53.3 million of stock under a pre-arranged Rule 10b5-1 plan. The transaction reduces a substantial personal holding but may not indicate a change in management’s outlook. SEC Insider Transaction Filing
• Negative Sentiment: Risks include NAND’s cyclical nature, slowing pricing growth, built-in contract depreciation and weaker consumer demand. China’s CXMT is also expanding memory production, potentially pressuring pricing and market share. Micron and SanDisk Face a New Test

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.