Sandisk (NASDAQ:SNDK) Trading 14.3% Higher – Should You Buy?

Sandisk Corporation (NASDAQ:SNDK) shares shot up 14.3% during mid-day trading on Tuesday . The company traded as high as $1,595.64 and last traded at $1,589.40. 13,555,326 shares traded hands during mid-day trading, a decline of 17% from the average session volume of 16,386,246 shares. The stock had previously closed at $1,390.95.

More Sandisk News

Here are the key news stories impacting Sandisk this week:

• Positive Sentiment: Shares rose as memory-chip stocks rebounded, with traders buying the dip after recent weakness in AI and semiconductor names and betting the pullback may have run its course.
• Positive Sentiment: UBS said the momentum unwind in semiconductors could be nearing its end, which may allow investors to rebuild positions in names like Sandisk. Article: UBS sees Broadcom, Sandisk, Oracle stocks rebounding: here’s why
• Positive Sentiment: Bernstein analyst Mark Newman reiterated a bullish 12-month view on Sandisk, reinforcing the case that the recent drop was more about sentiment than fundamentals. Article: Wall Street analyst sets SNDK stock price target for 12 months
• Positive Sentiment: Commentary from market strategists and investors suggested the “AI memory” trade could benefit from a bigger hardware upgrade cycle ahead, which supports a more constructive longer-term outlook for Sandisk. Article: AAPL, HPQ, SNDK, WDC: Gene Munster Says ‘Memory Hog’ AI Will Trigger a Massive 2027 Upgrade Cycle
• Neutral Sentiment: Several market wrapups framed Sandisk as one of the stocks explaining the broader tech rebound, but these items were more commentary on sector momentum than company-specific news. Article: The AI Trade Is Back With a Bang—Just Look at Sandisk Stock
• Negative Sentiment: The main headwind remains recent volatility: Sandisk had fallen sharply over the prior month, so some of the rebound may simply reflect a short-covering and oversold bounce rather than a full recovery in fundamentals.

Analyst Ratings Changes

SNDK has been the subject of several research reports. Royal Bank Of Canada lifted their price target on shares of Sandisk from $650.00 to $1,000.00 and gave the company a “sector perform” rating in a research report on Friday, May 1st. Cantor Fitzgerald upped their price objective on shares of Sandisk from $1,800.00 to $2,900.00 and gave the stock an “overweight” rating in a report on Monday, June 8th. Wedbush raised their price objective on shares of Sandisk from $1,200.00 to $2,000.00 and gave the company an “outperform” rating in a research note on Thursday, July 9th. Argus started coverage on shares of Sandisk in a report on Wednesday, July 15th. They set a “hold” rating for the company. Finally, 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 report on Monday, June 8th. Two research analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $1,803.29.

Sandisk Price Performance

The stock has a fifty day moving average price of $1,743.12 and a two-hundred day moving average price of $1,056.26. The company has a market cap of $235.37 billion, a P/E ratio of 55.25 and a beta of 4.74.

Sandisk (NASDAQ:SNDK) last announced its earnings results on Thursday, April 30th. The data storage provider reported $23.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $14.17 by $9.24. The company had revenue of $5.95 billion for the quarter. Sandisk had a return on equity of 44.06% and a net margin of 34.19%.The firm’s quarterly revenue was up 251.0% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.30) EPS. Sandisk has set its Q4 2026 guidance at 30.000-33.000 EPS. Equities analysts predict that Sandisk Corporation will post 64.52 earnings per share for the current fiscal year.

Insider Activity

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

Institutional Investors Weigh In On Sandisk

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Allworth Financial LP grew its stake in Sandisk by 84.2% during the fourth quarter. Allworth Financial LP now owns 4,521 shares of the data storage provider’s stock valued at $1,073,000 after acquiring an additional 2,067 shares in the last quarter. Tredje AP fonden purchased a new stake in Sandisk in the 4th quarter worth approximately $7,821,000. ProShare Advisors LLC boosted its holdings in Sandisk by 1,301.5% in the 4th quarter. ProShare Advisors LLC now owns 33,637 shares of the data storage provider’s stock valued at $7,985,000 after purchasing an additional 31,237 shares during the period. FourThought Financial Partners LLC bought a new position in Sandisk in the 4th quarter valued at $422,000. Finally, North Dakota State Investment Board purchased a new position in shares of Sandisk during the 4th quarter valued at $1,127,000.

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.