Sandisk (NASDAQ:SNDK) Sees Unusually-High Trading Volume After Analyst Upgrade

Sandisk Corporation (NASDAQ:SNDK) saw unusually-strong trading volume on Thursday after Bank of America raised their price target on the stock from $270.00 to $300.00. Bank of America currently has a buy rating on the stock. Approximately 6,499,806 shares were traded during mid-day trading, an increase of 27% from the previous session’s volume of 5,106,333 shares.The stock last traded at $230.58 and had previously closed at $245.96.

Several other research analysts also recently commented on SNDK. Mizuho lifted their price objective on Sandisk to $215.00 and gave the stock an “outperform” rating in a report on Tuesday, October 28th. Benchmark raised their price target on Sandisk from $125.00 to $260.00 and gave the stock a “buy” rating in a research report on Friday, November 7th. Barclays boosted their price objective on Sandisk from $39.00 to $220.00 and gave the company an “equal weight” rating in a research report on Monday, November 10th. Wells Fargo & Company increased their price objective on Sandisk from $115.00 to $230.00 and gave the company an “equal weight” rating in a research note on Friday, November 7th. Finally, The Goldman Sachs Group upped their price target on shares of Sandisk from $55.00 to $140.00 and gave the company a “buy” rating in a report on Thursday, October 9th. Three analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, six have given a Hold rating and one has assigned a Sell 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 $193.29.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. bought a new position in shares of Sandisk in the 3rd quarter worth approximately $1,970,388,000. State Street Corp bought a new position in Sandisk in the third quarter worth $491,053,000. Arrowstreet Capital Limited Partnership purchased a new position in Sandisk during the third quarter valued at $297,293,000. Bank of America Corp DE purchased a new position in Sandisk during the third quarter valued at $190,425,000. Finally, AQR Capital Management LLC bought a new stake in shares of Sandisk during the 3rd quarter valued at $163,057,000.

Sandisk Stock Down 7.2%

The company has a debt-to-equity ratio of 0.14, a quick ratio of 2.03 and a current ratio of 3.29. The stock’s 50-day moving average price is $158.23 and its two-hundred day moving average price is $84.00. The stock has a market capitalization of $33.45 billion and a PE ratio of 713.34.

Sandisk (NASDAQ:SNDK) last issued its quarterly earnings results on Thursday, November 6th. The data storage provider reported $1.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.58 by $0.64. The business had revenue of $2.31 billion for the quarter, compared to analysts’ expectations of $2.12 billion. Sandisk’s quarterly revenue was up 22.6% on a year-over-year basis. 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.