Sandisk (NASDAQ:SNDK) Given New $2,720.00 Price Target at Susquehanna

Sandisk (NASDAQ:SNDK) had its target price decreased by Susquehanna from $2,745.00 to $2,720.00 in a research note issued to investors on Friday,Benzinga reports. Susquehanna currently has a positive rating on the data storage provider’s stock.

Several other brokerages also recently issued reports on SNDK. New Street Research set a $3,000.00 price objective on Sandisk in a research report on Thursday, August 6th. Rosenblatt Securities initiated coverage on Sandisk in a report on Tuesday, September 22nd. They set a “buy” rating and a $2,400.00 target price on the stock. Zacks Research raised Sandisk from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 13th. The Goldman Sachs Group reissued a “buy” rating and issued a $2,200.00 price target (up from $1,200.00) on shares of Sandisk in a report on Thursday, August 13th. Finally, Jefferies Financial Group restated a “buy” rating and issued a $1,400.00 price objective (up from $1,000.00) on shares of Sandisk in a research report on Thursday, August 6th. Two research analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $2,056.23.

Sandisk Trading Down 13.5%

Shares of SNDK opened at $1,150.89 on Friday. Sandisk has a 12-month low of $183.00 and a 12-month high of $2,354.39. The stock has a market cap of $166.34 billion, a P/E ratio of 9.23, a PEG ratio of 0.13 and a beta of 5.23. The company has a 50-day moving average of $1,557.91 and a two-hundred day moving average of $1,250.84.

Sandisk shares are set to split before the market opens on Monday, November 9th. The 8-1 split was announced on Thursday, October 29th. The newly issued shares will be distributed to shareholders after the market closes on Thursday, November 19th.

Sandisk (NASDAQ:SNDK) last released its quarterly earnings results on Thursday, October 29th. The data storage provider reported $49.51 EPS for the quarter, beating the consensus estimate of $46.19 by $3.32. Sandisk had a net margin of 67.04% and a return on equity of 137.31%. The business had revenue of $11.03 billion for the quarter. During the same quarter in the prior year, the company earned $1.22 earnings per share. The firm’s revenue for the quarter was up 23.0% compared to the same quarter last year. As a group, analysts forecast that Sandisk will post 210.92 EPS for the current fiscal year.

Sandisk declared that its board has authorized a share repurchase plan on Wednesday, August 5th that permits the company to repurchase $14 billion in outstanding shares. This repurchase authorization permits the data storage provider to buy up to 6.6% of its shares through open market purchases. Share repurchase plans are usually an indication that the company’s management believes its stock is undervalued.

Insider Activity

In related news, EVP Alper Ilkbahar sold 4,712 shares of the firm’s 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 sale, the executive vice president owned 44,134 shares in the company, valued at approximately $67,991,957.72. This trade represents a 9.65% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Luis Visoso sold 1,000 shares of Sandisk stock in a transaction that occurred on Tuesday, September 15th. The stock was 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 $205,479,078.08. The trade was a 0.76% decrease in their ownership of the stock. 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 ninety days, insiders sold 77,899 shares of company stock worth $121,159,122. 0.29% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Sandisk

Hedge funds have recently made changes to their positions in the business. Ascent Group LLC grew its holdings in Sandisk by 8.8% in the 3rd quarter. Ascent Group LLC now owns 742 shares of the data storage provider’s stock valued at $1,291,000 after buying an additional 60 shares during the period. JCIC Asset Management Inc. acquired a new position in shares of Sandisk during the 3rd quarter valued at about $3,788,000. 3Chopt Investment Partners LLC increased its stake in shares of Sandisk by 58.8% during the 3rd quarter. 3Chopt Investment Partners LLC now owns 416 shares of the data storage provider’s stock valued at $724,000 after acquiring an additional 154 shares during the last quarter. Compass Financial Management LLC lifted its holdings in shares of Sandisk by 25.8% during the 3rd quarter. Compass Financial Management LLC now owns 458 shares of the data storage provider’s stock worth $797,000 after acquiring an additional 94 shares during the period. Finally, Rakuten Investment Management Inc. lifted its holdings in shares of Sandisk by 43.8% during the 3rd quarter. Rakuten Investment Management Inc. now owns 39,043 shares of the data storage provider’s stock worth $67,535,000 after acquiring an additional 11,884 shares during the period.

More Sandisk News

Here are the key news stories impacting Sandisk this week:

• Positive Sentiment: Sandisk reported fiscal Q1 revenue of $11.03 billion and non-GAAP EPS of $49.51, exceeding Wall Street expectations. Revenue increased 378% year over year, while GAAP net income reached $8.1 billion. SanDisk Q1 2027 Earnings Call Transcript
• Positive Sentiment: Management projected fiscal Q2 revenue of $12.2 billion to $12.6 billion and highlighted strong AI-driven data-center demand, long-term customer supply agreements and a pipeline extending through 2030. Data-center revenue rose 61% sequentially. SanDisk CEO Sees Strong Customer Demand
• Positive Sentiment: The board approved an 8-for-1 forward stock split effective November 19, and Sandisk repurchased approximately $5 billion of stock during the quarter. These actions may improve trading accessibility and signal management confidence, although they do not change intrinsic value. Sandisk Tops Estimates and Announces Stock Split
• Neutral Sentiment: Analyst sentiment remains divided. Rosenblatt reaffirmed a $2,400 buy target and Susquehanna maintained a positive rating, while Wells Fargo cut its target to $1,300 with an equal-weight rating and RBC reduced its target to $1,400 with a sector-perform rating.
• Negative Sentiment: Investors appear concerned that memory pricing and margins may be near a peak, limiting further earnings upside after the stock’s substantial run. Analysts also flagged valuation risks despite the earnings beat. Analyst Sees Memory Pricing Peak
• Negative Sentiment: The broader technology and semiconductor sell-off, triggered partly by disappointing results from Amazon and Intel, pressured memory stocks across the sector. Rising competition from China’s CXMT added another concern for investors. Why Memory Stocks Are Falling

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.