Sandisk (NASDAQ:SNDK) Shares Up 6.8% After Analyst Upgrade

Sandisk Corporation (NASDAQ:SNDK) shares were up 6.8% during trading on Tuesday after Rosenblatt Securities upgraded the stock to a strong-buy rating. The company traded as high as $1,909.48 and last traded at $1,887.04. Approximately 12,740,605 shares were traded during trading, a decline of 19% from the average daily volume of 15,796,056 shares. The stock had previously closed at $1,766.64.

A number of other equities research analysts have also weighed in on SNDK. Citigroup lowered 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. Zacks Research lowered shares of Sandisk from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 7th. Argus upgraded shares of Sandisk from a “hold” rating to a “buy” rating in a research note on Monday, August 10th. Bank of America raised their price objective on shares of Sandisk from $2,100.00 to $2,500.00 and gave the stock a “buy” rating in a report on Wednesday, July 1st. Finally, Royal Bank Of Canada increased their price target on shares of Sandisk from $1,300.00 to $1,600.00 and gave the stock a “sector perform” rating in a research report on Friday, August 14th. Three analysts have rated the stock with a Strong Buy rating, twenty have given a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $2,015.61.

Insider Activity

In related news, EVP Alper Ilkbahar sold 4,712 shares of Sandisk stock in a transaction that occurred on Thursday, September 3rd. The shares were sold at an average price of $1,540.58, for a total transaction of $7,259,212.96. Following the transaction, the executive vice president owned 44,134 shares of the company’s stock, valued at $67,991,957.72. This trade represents a 9.65% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Bernard Shek sold 2,308 shares of the company’s stock in a transaction that occurred on Tuesday, September 8th. The shares were sold at an average price of $1,767.33, for a total transaction of $4,078,997.64. Following the completion of the sale, the insider directly owned 25,305 shares of the company’s stock, valued at $44,722,285.65. The trade was a 8.36% 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 90 days, insiders have sold 77,899 shares of company stock valued at $121,370,958. Insiders own 0.21% of the company’s stock.

More Sandisk News

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, arguing that AI data centers are making NAND flash a critical infrastructure component rather than a purely commoditized product. Analyst Says SanDisk to Hit $2,400 as NAND Flash Becomes Critical AI Infrastructure
• Positive Sentiment: Sandisk has reportedly secured buyers for roughly half of its current-year output and two-thirds of next year’s production, with minimum-price provisions. These contracts could support revenue visibility and cushion margins if the memory market weakens. Sandisk Has Signed Away Two Thirds of Next Year’s Output
• Neutral Sentiment: Sandisk and Kioxia plan to invest more than $31 billion in Japan, reinforcing their long-term memory manufacturing capacity. The spending supports future growth but could eventually add supply and increase cyclical pricing pressure. Kioxia and Sandisk to Invest Over $31 Billion in Japan
• Negative Sentiment: Micron, SK Hynix and Sandisk are declining together as traders lock in gains after a powerful rally. Investors are also concerned that elevated valuation and optimistic AI-demand expectations leave less room for upside surprises. Why Micron, SanDisk, and SK Hynix Stocks Are Down Today
• Negative Sentiment: Recent executive stock sales, including a sale of 33,841 shares by CEO David Goeckeler, may weigh on sentiment, particularly after SNDK’s exceptional advance. The transactions appear scheduled, but they reinforce concerns about insiders monetizing the sharp run-up. David Goeckeler Sells Shares of Sandisk Stock

Hedge Funds Weigh In On Sandisk

Several institutional investors and hedge funds have recently modified their holdings of SNDK. Handelsbanken Fonder AB increased its stake in 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 acquiring an additional 14,964 shares during the last quarter. Focus Partners Advisor Solutions LLC purchased a new position in shares of Sandisk in the 2nd quarter worth about $4,775,000. Florida Financial Advisors LLC purchased a new position in shares of Sandisk in the 1st quarter worth about $2,747,000. UNICOM Systems Inc. increased its position in shares of Sandisk by 14.9% during the 2nd 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 last quarter. Finally, Affinity Capital Advisors LLC bought a new position in shares of Sandisk during the 2nd quarter valued at about $2,506,000.

Sandisk Trading Down 3.1%

The company has a market capitalization of $257.63 billion, a PE ratio of 24.13, a PEG ratio of 0.19 and a beta of 5.17. The stock has a fifty day moving average of $1,509.14 and a two-hundred day moving average of $1,388.43.

Sandisk (NASDAQ:SNDK) last released its earnings results on Wednesday, August 5th. The data storage provider reported $39.25 earnings per share 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 business’s quarterly revenue was up 371.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.29 EPS. Sandisk has set its Q1 2027 guidance at 44.000-46.000 EPS. Equities analysts forecast that Sandisk Corporation will post 208.94 EPS for the current year.

Sandisk declared that its board has initiated a share buyback program on Wednesday, August 5th that permits the company to repurchase $14.00 billion in outstanding shares. This repurchase authorization permits the data storage provider to purchase up to 6.6% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board of directors believes its stock is undervalued.

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.