Sandisk (NASDAQ:SNDK) Trading Down 13.6% – Time to Sell?

Sandisk Corporation (NASDAQ:SNDK) dropped 13.6% during mid-day trading on Tuesday . The company traded as low as $1,949.96 and last traded at $1,963.60. 12,588,784 shares changed hands during mid-day trading, a decline of 25% from the average daily volume of 16,820,531 shares. The stock had previously closed at $2,273.73.

Sandisk News Summary

Here are the key news stories impacting Sandisk this week:

• Positive Sentiment: SanDisk has been benefiting from the AI storage narrative, with reports saying AI is “fundamentally” changing the NAND market and boosting demand for data-center memory. Article Title
• Positive Sentiment: BofA reportedly raised its price target on SNDK, reinforcing the view that tight NAND supply and strong AI-driven demand could support earnings and margins. Article Title
• Positive Sentiment: Recent articles also pointed to improving memory fundamentals and continued investor enthusiasm around SanDisk’s pure-play NAND positioning. Article Title
• Neutral Sentiment: SanDisk’s huge year-to-date run has made the stock increasingly sensitive to headlines, with some commentary warning that the share price may now be stretched after the surge. Article Title
• Negative Sentiment: Memory stocks sold off sharply as investors worried about an AI bubble, high AI spending, and rate-hike risks, which pressured SanDisk alongside peers like Micron. Article Title
• Negative Sentiment: A broader tech selloff and a Korean market crash hit memory-chip names, adding momentum to the decline in SNDK and other storage stocks. Article Title

Wall Street Analyst Weigh In

A number of research analysts recently commented on the stock. Jefferies Financial Group reaffirmed a “buy” rating and set a $1,400.00 price objective on shares of Sandisk in a research report on Friday, May 1st. Evercore reiterated an “outperform” rating and issued a $1,400.00 target price on shares of Sandisk in a research report on Friday, May 1st. The Goldman Sachs Group reissued a “buy” rating and set a $1,200.00 target price on shares of Sandisk in a research note on Friday, May 1st. Bank of America boosted their price target on shares of Sandisk from $1,550.00 to $2,100.00 and gave the company a “buy” rating in a report on Monday, June 8th. Finally, Morgan Stanley upped their price target on shares of Sandisk from $1,100.00 to $1,750.00 and gave the stock an “overweight” rating in a research note on Wednesday, June 3rd. Three analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $1,580.67.

Sandisk Price Performance

The stock has a market cap of $290.79 billion, a price-to-earnings ratio of 68.25 and a beta of 4.88. The business has a fifty day moving average of $1,452.71 and a 200 day moving average of $833.30.

Sandisk (NASDAQ:SNDK) last posted its earnings results on Thursday, April 30th. The data storage provider reported $23.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $14.17 by $9.24. The firm had revenue of $5.95 billion during the quarter. Sandisk had a net margin of 34.19% and a return on equity of 44.06%. Sandisk’s revenue was up 251.0% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.30) earnings per share. Sandisk has set its Q4 2026 guidance at 30.000-33.000 EPS. On average, analysts expect that Sandisk Corporation will post 64.01 EPS for the current year.

Insider Buying and Selling at Sandisk

In other Sandisk news, insider Bernard Shek sold 600 shares of the firm’s stock in a transaction dated Wednesday, June 3rd. The stock was sold at an average price of $1,736.00, for a total transaction of $1,041,600.00. Following the transaction, the insider directly owned 32,232 shares in the company, valued at $55,954,752. This trade represents a 1.83% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Alper Ilkbahar sold 2,000 shares of the stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $1,756.58, for a total value of $3,513,160.00. Following the transaction, the executive vice president directly owned 52,677 shares in the company, valued at approximately $92,531,364.66. This represents a 3.66% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 5,625 shares of company stock worth $8,913,497 in the last 90 days. 0.21% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Sandisk

Several hedge funds and other institutional investors have recently made changes to their positions in SNDK. Valley Wealth Managers Inc. bought a new position in Sandisk in the 1st quarter worth approximately $25,000. IMG Wealth Management Inc. acquired a new position in Sandisk during the 1st quarter valued at $29,000. SOA Wealth Advisors LLC. raised its stake in Sandisk by 108.0% during the 1st quarter. SOA Wealth Advisors LLC. now owns 52 shares of the data storage provider’s stock valued at $33,000 after purchasing an additional 27 shares during the last quarter. Cedar Mountain Advisors LLC boosted its holdings in Sandisk by 2,750.0% in the 1st quarter. Cedar Mountain Advisors LLC now owns 57 shares of the data storage provider’s stock valued at $36,000 after purchasing an additional 55 shares during the period. Finally, Roble Belko & Company Inc bought a new stake in Sandisk in the 1st quarter valued at $39,000.

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.