Sandisk (NASDAQ:SNDK) Stock Price Down 12.6% – Should You Sell?

Sandisk Corporation (NASDAQ:SNDK) shares were down 12.6% on Thursday . The stock traded as low as $1,390.04 and last traded at $1,411.08. Approximately 16,970,563 shares traded hands during mid-day trading, an increase of 3% from the average daily volume of 16,415,512 shares. The stock had previously closed at $1,615.00.

Sandisk News Roundup

Here are the key news stories impacting Sandisk this week:

• Positive Sentiment: Sandisk launched Fab2 with Kioxia as BiCS10 sampling begins, reinforcing its position in advanced NAND memory production and long-term supply growth. Sandisk (SNDK) Launches Fab2 With Kioxia As BiCS10 Sampling Begins
• Positive Sentiment: Some analysts remain constructive on the memory cycle, noting AI infrastructure spending is still boosting demand and that Sandisk may still have upside despite the sell-off. SNDK vs. MU: Which AI Memory Stock is a Smarter Buy at Current Levels?
• Positive Sentiment: Sandisk continues to receive bullish long-term commentary because of strong revenue and margin growth in a volatile memory market. Which Storage Stock Is Best Positioned to Win the AI Memory War? (SNDK)
• Neutral Sentiment: Argus initiated coverage with a Hold rating, which added to the market’s caution but was not a major negative surprise by itself. Analyst Maintains Hold on SanDisk After Post–Spin-Off Rally
• Neutral Sentiment: Several articles frame the decline as a sector-wide memory-chip and semiconductor rotation, with traders locking in gains after a sharp run-up across AI-linked stocks. Memory-Chip Selloff Drags Nasdaq 100 Lower, SanDisk Sinks 13%
• Negative Sentiment: SanDisk is falling as investors take profits after a huge rally, with some commentary warning that the “best part” of the move may already be over. After A 6,000% Melt-Up, SanDisk Just Found Out Gravity Still Exists
• Negative Sentiment: Fresh concerns about Chinese competition, including CXMT’s planned memory IPO, are pressuring the entire memory-chip group and weighing on Sandisk sentiment. SK Hynix and SanDisk Sink 7%, Micron Falls 5% as China’s CXMT Readies an $8.6B Memory IPO
• Negative Sentiment: In addition to profit-taking, analyst caution and sector weakness have pushed SNDK lower as traders question how much upside remains near term. Why Is Sandisk Stock Falling on Thursday?

Wall Street Analysts Forecast Growth

SNDK has been the subject of a number of recent research reports. Jefferies Financial Group reissued a “buy” rating and set a $1,400.00 price objective on shares of Sandisk in a research report on Friday, May 1st. Evercore set a $3,100.00 target price on Sandisk in a report on Monday. UBS Group set a $1,700.00 target price on Sandisk in a report on Monday, May 4th. Arete Research upgraded Sandisk from a “hold” rating to a “strong-buy” rating in a research report on Monday, April 13th. Finally, Wells Fargo & Company upped their price target on Sandisk from $975.00 to $1,250.00 and gave the stock an “equal weight” rating in a research report on Friday, May 1st. Two investment analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, Sandisk currently has an average rating of “Moderate Buy” and a consensus target price of $1,803.29.

Sandisk Price Performance

The firm has a market capitalization of $208.97 billion, a P/E ratio of 49.05 and a beta of 4.74. The stock’s 50-day simple moving average is $1,748.98 and its two-hundred day simple moving average is $1,032.16.

Sandisk (NASDAQ:SNDK) last announced its quarterly earnings data on Thursday, April 30th. The data storage provider reported $23.41 earnings per share (EPS) for the quarter, topping 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%. The business’s revenue for the quarter was up 251.0% on a year-over-year basis. During the same period last year, the company earned ($0.30) earnings per share. Sandisk has set its Q4 2026 guidance at 30.000-33.000 EPS. On average, analysts forecast that Sandisk Corporation will post 64.95 earnings per share for the current fiscal year.

Insider Activity

In other Sandisk news, EVP Alper Ilkbahar sold 2,000 shares of the stock in a transaction on Monday, June 1st. The stock was sold at an average price of $1,756.58, for a total value of $3,513,160.00. Following the completion of the sale, the executive vice president owned 52,677 shares in the company, valued at approximately $92,531,364.66. This represents a 3.66% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Bernard Shek sold 600 shares of the firm’s stock in a transaction dated Wednesday, July 1st. The shares were sold at an average price of $2,088.00, for a total value of $1,252,800.00. Following the sale, the insider directly owned 31,515 shares in the company, valued at approximately $65,803,320. This represents a 1.87% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 6,225 shares of company stock worth $10,166,297. 0.21% of the stock is currently owned by corporate insiders.

Institutional Trading of Sandisk

Several institutional investors have recently made changes to their positions in SNDK. Valley Wealth Managers Inc. bought a new stake in Sandisk during the 1st quarter valued at approximately $25,000. Whittier Trust Co. bought a new position in Sandisk in the 4th quarter worth approximately $26,000. Greenline Wealth Management LLC bought a new position in Sandisk in the 4th quarter worth approximately $26,000. Chung Wu Investment Group LLC purchased a new stake in Sandisk during the 4th quarter valued at approximately $27,000. Finally, IMG Wealth Management Inc. purchased a new stake in Sandisk during the 1st quarter valued at approximately $29,000.

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.