Sandisk (NASDAQ:SNDK) Hits New 52-Week High on Analyst Upgrade

Sandisk Corporation (NASDAQ:SNDK) hit a new 52-week high during mid-day trading on Monday after Fox Advisors upgraded the stock from a hold rating to a strong-buy rating. The stock traded as high as $243.44 and last traded at $243.44, with a volume of 435988 shares traded. The stock had previously closed at $239.48.

Other analysts have also recently issued reports about the company. Zacks Research raised Sandisk from a “strong sell” rating to a “hold” rating in a research note on Tuesday, October 14th. Wells Fargo & Company upped their price target on shares of Sandisk from $115.00 to $230.00 and gave the company an “equal weight” rating in a report on Friday. Cantor Fitzgerald increased their price objective on shares of Sandisk from $240.00 to $300.00 and gave the stock an “overweight” rating in a research report on Friday. Morgan Stanley boosted their price objective on shares of Sandisk from $96.00 to $230.00 and gave the company an “overweight” rating in a research report on Monday, November 3rd. Finally, The Goldman Sachs Group increased their target price on Sandisk from $55.00 to $140.00 and gave the stock a “buy” rating in a report on Thursday, October 9th. Two research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Sandisk currently has a consensus rating of “Moderate Buy” and an average price target of $170.41.

Hedge Funds Weigh In On Sandisk

Several hedge funds and other institutional investors have recently made changes to their positions in SNDK. Vanguard Group Inc. bought a new position in shares of Sandisk during the third quarter worth approximately $1,970,388,000. Parnassus Investments LLC bought a new position in Sandisk during the 3rd quarter worth $103,815,000. Principal Financial Group Inc. acquired a new stake in shares of Sandisk during the third quarter worth $74,265,000. Public Sector Pension Investment Board bought a new stake in shares of Sandisk in the third quarter valued at about $60,415,000. Finally, GF Fund Management CO. LTD. acquired a new stake in shares of Sandisk during the 3rd quarter worth $45,206,000.

Sandisk Stock Performance

The stock has a 50 day moving average of $126.31 and a 200 day moving average of $71.56. The company has a quick ratio of 2.03, a current ratio of 3.29 and a debt-to-equity ratio of 0.14. The firm has a market cap of $35.38 billion and a price-to-earnings ratio of -416.66.

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

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.