Sandisk (NASDAQ:SNDK) Trading Up 10.5% – Here’s Why

Sandisk Corporation (NASDAQ:SNDK) shot up 10.5% during trading on Friday . The company traded as high as $262.65 and last traded at $262.33. 1,758,661 shares traded hands during mid-day trading, a decline of 76% from the average session volume of 7,253,835 shares. The stock had previously closed at $237.38.

Analyst Ratings Changes

Several brokerages have issued reports on SNDK. Cantor Fitzgerald upped their price target on shares of Sandisk from $240.00 to $300.00 and gave the company an “overweight” rating in a report on Friday, November 7th. The Goldman Sachs Group lifted their price objective on Sandisk from $55.00 to $140.00 and gave the stock a “buy” rating in a research report on Thursday, October 9th. Sanford C. Bernstein upgraded Sandisk to a “strong-buy” rating in a report on Tuesday, September 16th. Bank of America boosted their price target on Sandisk from $270.00 to $300.00 and gave the stock a “buy” rating in a report on Thursday, November 20th. Finally, Wells Fargo & Company lifted their price objective on Sandisk from $115.00 to $230.00 and gave the stock an “equal weight” rating in a research report on Friday, November 7th. Three analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $213.33.

Sandisk Trading Up 11.5%

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 business’s fifty day moving average is $224.50 and its 200-day moving average is $123.59. The stock has a market capitalization of $38.80 billion and a PE ratio of 827.47.

Sandisk (NASDAQ:SNDK) last released its quarterly earnings data on Thursday, November 6th. The data storage provider reported $1.22 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 business’s revenue for the quarter was up 22.6% on a year-over-year basis. Sandisk has set its Q2 2026 guidance at 3.000-3.40 EPS.

Insider Buying and Selling

In other Sandisk news, Director Necip Sayiner sold 1,271 shares of Sandisk stock in a transaction that occurred on Wednesday, December 3rd. The shares were sold at an average price of $195.14, for a total transaction of $248,022.94. Following the transaction, the director directly owned 3,479 shares of the company’s stock, valued at $678,892.06. The trade was a 26.76% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 0.21% of the company’s stock.

Institutional Trading of Sandisk

A number of institutional investors have recently added to or reduced their stakes in SNDK. Osaic Holdings Inc. acquired a new position in shares of Sandisk during the second quarter worth about $317,000. Corient Private Wealth LLC purchased a new stake in shares of Sandisk during the 2nd quarter valued at about $353,000. Praxis Investment Management Inc. purchased a new stake in shares of Sandisk during the 3rd quarter valued at about $533,000. GAMMA Investing LLC acquired a new position in Sandisk during the 3rd quarter worth approximately $439,000. Finally, Voya Investment Management LLC purchased a new position in Sandisk in the 3rd quarter worth approximately $8,917,000.

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.