Sandisk (NASDAQ:SNDK) Shares Up 7.2% on Analyst Upgrade

Shares of Sandisk Corporation (NASDAQ:SNDK) rose 7.2% during trading on Thursday after Benchmark raised their price target on the stock from $260.00 to $450.00. Benchmark currently has a buy rating on the stock. Sandisk traded as high as $420.00 and last traded at $415.88. Approximately 3,077,235 shares traded hands during trading, a decline of 78% from the average daily volume of 13,833,097 shares. The stock had previously closed at $387.81.

Other equities analysts have also issued research reports about the company. China Renaissance began coverage on Sandisk in a research note on Friday, December 5th. They issued a “buy” rating and a $322.00 price target on the stock. Susquehanna boosted their price objective on shares of Sandisk from $250.00 to $300.00 and gave the company a “positive” rating in a report on Monday, December 8th. The Goldman Sachs Group reaffirmed a “buy” rating and set a $320.00 target price on shares of Sandisk in a research note on Friday, January 9th. Cantor Fitzgerald lifted their price target on shares of Sandisk from $240.00 to $300.00 and gave the company an “overweight” rating in a research report on Friday, November 7th. Finally, Mizuho upped their price objective on shares of Sandisk from $250.00 to $410.00 and gave the stock an “outperform” rating in a report on Friday, January 9th. Two analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $308.95.

Insider Activity at Sandisk

In other news, Director Necip Sayiner sold 1,271 shares of the firm’s stock in a transaction that occurred on Wednesday, December 3rd. The shares were sold at an average price of $195.14, for a total value of $248,022.94. Following the completion of the transaction, the director owned 3,479 shares of the company’s stock, valued at approximately $678,892.06. This trade represents a 26.76% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 0.21% of the company’s stock.

Hedge Funds Weigh In On Sandisk

Several institutional investors have recently modified their holdings of the business. New York State Teachers Retirement System purchased a new stake in shares of Sandisk in the 3rd quarter valued at about $13,546,000. RWC Asset Management LLP purchased a new position in Sandisk during the 3rd quarter worth approximately $6,892,000. Parnassus Investments LLC acquired a new position in Sandisk during the third quarter worth approximately $103,815,000. Voya Investment Management LLC purchased a new stake in Sandisk in the third quarter valued at approximately $8,917,000. Finally, Romano Brothers AND Company purchased a new stake in Sandisk in the third quarter valued at approximately $693,000.

Sandisk Price Performance

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 capitalization of $60.95 billion and a price-to-earnings ratio of 1,299.63. The company has a fifty day moving average price of $252.01 and a two-hundred day moving average price of $143.14.

Sandisk (NASDAQ:SNDK) last announced its earnings results on Thursday, November 6th. The data storage provider reported $1.22 EPS for the quarter, beating analysts’ consensus estimates of $0.58 by $0.64. The business had revenue of $2.31 billion during the quarter, compared to analyst estimates of $2.12 billion. The firm’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.

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. It offers SSDs for client computing applications, which encompass desktop computers, notebook computers, tablets and other computing devices.