Sandisk (NASDAQ:SNDK) Stock Price Up 6.8% – Here’s Why

Sandisk Corporation (NASDAQ:SNDK) rose 6.8% during trading on Wednesday . The company traded as high as $1,734.69 and last traded at $1,727.18. 11,778,138 shares changed hands during mid-day trading, a decline of 29% from the average session volume of 16,526,467 shares. The stock had previously closed at $1,617.70.

Key Stories Impacting Sandisk

Here are the key news stories impacting Sandisk this week:

• Positive Sentiment: Wedbush raised its outlook on Sandisk ahead of the company’s upcoming fiscal Q4 report, citing expected earnings upside and continued strength in NAND pricing. SanDisk Earnings Insights: Wedbush Sees a Big Earnings Beat, Raises Price Target on NAND Pricing Gains
• Positive Sentiment: Analysts and market coverage continue to highlight Sandisk as a beneficiary of tight NAND supply and strong demand, with several pieces calling the stock attractive after the recent reset in memory shares. Sandisk set for earnings upside as Wedbush lifts price target
• Positive Sentiment: Investor sentiment was also boosted by reports that Meta signed a multi-year NAND flash supply deal with Sandisk for AI infrastructure buildout, reinforcing the growth narrative for storage demand. SanDisk (SNDK) Shares Spike 10% on Multi-Year Meta Storage Partnership

Analyst Upgrades and Downgrades

Several brokerages have commented on SNDK. Mizuho lifted their price objective on shares of Sandisk from $1,825.00 to $2,200.00 and gave the company an “outperform” rating in a research note on Monday, June 8th. Barclays raised shares of Sandisk from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $1,200.00 to $2,300.00 in a report on Tuesday, May 26th. Jefferies Financial Group restated a “buy” rating and set a $1,400.00 target price on shares of Sandisk in a research report on Friday, May 1st. Melius Research set a $2,350.00 price target on Sandisk in a research report on Monday, May 18th. Finally, Weiss Ratings upgraded Sandisk from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday. Two research analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $1,684.24.

Sandisk Stock Up 3.1%

The company has a market cap of $283.73 billion, a price-to-earnings ratio of 66.59 and a beta of 4.74. The company’s 50-day moving average is $1,709.27 and its 200 day moving average is $990.08.

Sandisk (NASDAQ:SNDK) last issued its quarterly earnings data on Thursday, April 30th. The data storage provider reported $23.41 earnings per share for the quarter, topping analysts’ consensus estimates of $14.17 by $9.24. Sandisk had a net margin of 34.19% and a return on equity of 44.06%. The business had revenue of $5.95 billion during the quarter. During the same quarter last year, the company posted ($0.30) EPS. The company’s revenue was up 251.0% on a year-over-year basis. Sandisk has set its Q4 2026 guidance at 30.000-33.000 EPS. Analysts predict that Sandisk Corporation will post 64.01 EPS for the current fiscal year.

Insiders Place Their Bets

In other Sandisk news, Director Necip Sayiner sold 579 shares of the firm’s stock in a transaction that occurred on Friday, May 8th. The stock was sold at an average price of $1,503.11, for a total value of $870,300.69. Following the sale, the director directly owned 2,900 shares of the company’s stock, valued at approximately $4,359,019. This trade represents a 16.64% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Bernard Shek sold 600 shares of the company’s stock in a transaction that occurred on Wednesday, July 1st. The stock was sold at an average price of $2,088.00, for a total value of $1,252,800.00. Following the transaction, the insider directly owned 31,515 shares of the company’s stock, valued at approximately $65,803,320. The trade was a 1.87% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 6,225 shares of company stock worth $10,166,297. Company insiders own 0.21% of the company’s stock.

Institutional Trading of Sandisk

Institutional investors have recently modified their holdings of the stock. Tema ETFs LLC increased its stake in shares of Sandisk by 10.0% during the second quarter. Tema ETFs LLC now owns 2,649 shares of the data storage provider’s stock worth $6,023,000 after purchasing an additional 241 shares in the last quarter. Nolet Wealth Management LLC acquired a new position in shares of Sandisk during the 2nd quarter worth about $281,000. Handelsbanken Fonder AB lifted its stake in Sandisk by 35.1% in the 2nd quarter. Handelsbanken Fonder AB now owns 57,564 shares of the data storage provider’s stock valued at $130,885,000 after buying an additional 14,964 shares in the last quarter. Orrstown Financial Services Inc. purchased a new position in Sandisk in the 2nd quarter valued at about $762,000. Finally, Carolina Wealth Advisors LLC boosted its holdings in Sandisk by 6,600.0% in the 2nd quarter. Carolina Wealth Advisors LLC now owns 1,340 shares of the data storage provider’s stock worth $3,047,000 after buying an additional 1,320 shares during the last quarter.

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.