Sandisk (NASDAQ:SNDK) Trading Down 6.5% – Time to Sell?

Sandisk Corporation (NASDAQ:SNDK)’s stock price traded down 6.5% on Friday . The stock traded as low as $470.50 and last traded at $470.75. 11,036,575 shares traded hands during mid-day trading, a decline of 30% from the average session volume of 15,786,378 shares. The stock had previously closed at $503.44.

Analysts Set New Price Targets

SNDK has been the topic of several analyst reports. Wedbush raised their price target on shares of Sandisk from $220.00 to $260.00 and gave the company an “outperform” rating in a research note on Friday, November 7th. Wells Fargo & Company boosted their price target on Sandisk from $230.00 to $380.00 and gave the stock an “equal weight” rating in a research report on Thursday, January 15th. Citigroup raised their price target on Sandisk from $280.00 to $490.00 and gave the company a “buy” rating in a report on Tuesday. The Goldman Sachs Group restated a “buy” rating and set a $320.00 price objective on shares of Sandisk in a research note on Friday, January 9th. Finally, Wall Street Zen lowered shares of Sandisk from a “strong-buy” rating to a “buy” rating in a research report on Saturday, December 27th. Two research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Sandisk has an average rating of “Moderate Buy” and an average price target of $327.89.

Sandisk Price Performance

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 company’s 50 day moving average price is $275.63 and its 200-day moving average price is $159.26. The company has a market cap of $70.35 billion and a price-to-earnings ratio of 1,500.16.

Sandisk (NASDAQ:SNDK) last issued its earnings results on Thursday, November 6th. The data storage provider reported $1.22 earnings per share for the quarter, topping analysts’ consensus estimates of $0.58 by $0.64. The business had revenue of $2.31 billion for the quarter, compared to the consensus estimate of $2.12 billion. The business’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.

Insider Activity at Sandisk

In related news, Director Necip Sayiner sold 1,271 shares of the stock in a transaction on Wednesday, December 3rd. The stock was 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 in the company, valued at $678,892.06. This trade represents a 26.76% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.21% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in SNDK. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in Sandisk in the 3rd quarter worth approximately $27,000. CVA Family Office LLC purchased a new stake in shares of Sandisk in the third quarter valued at $28,000. Westfuller Advisors LLC lifted its holdings in shares of Sandisk by 51.8% in the fourth quarter. Westfuller Advisors LLC now owns 126 shares of the data storage provider’s stock valued at $30,000 after purchasing an additional 43 shares in the last quarter. Parallel Advisors LLC purchased a new position in shares of Sandisk during the third quarter valued at $30,000. Finally, Northwestern Mutual Wealth Management Co. acquired a new position in Sandisk during the third quarter valued at $32,000.

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.