Sandisk (NASDAQ:SNDK) Upgraded at Argus

Sandisk (NASDAQ:SNDK) was upgraded by research analysts at Argus from a “hold” rating to a “buy” rating in a report released on Monday.

Other analysts have also recently issued research reports about the stock. Arete Research raised shares of Sandisk from a “hold” rating to a “strong-buy” rating in a research note on Monday, April 13th. Evercore set a $2,800.00 price target on Sandisk in a research report on Thursday. Morgan Stanley lifted their price objective on Sandisk from $1,100.00 to $1,750.00 and gave the stock an “overweight” rating in a research report on Wednesday, June 3rd. Melius Research set a $2,350.00 target price on Sandisk in a report on Monday, May 18th. Finally, Bank of America lifted their price target on Sandisk from $2,100.00 to $2,500.00 and gave the stock a “buy” rating in a report on Wednesday, July 1st. Three analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $1,853.14.

Sandisk Price Performance

Shares of NASDAQ:SNDK opened at $1,212.21 on Monday. Sandisk has a 1 year low of $41.00 and a 1 year high of $2,354.39. The firm has a market capitalization of $179.52 billion, a PE ratio of 16.63, a P/E/G ratio of 0.13 and a beta of 5.21. The business’s 50 day moving average price is $1,699.98 and its 200-day moving average price is $1,153.55.

Sandisk (NASDAQ:SNDK) last posted its quarterly earnings data on Wednesday, August 5th. The data storage provider reported $39.25 EPS for the quarter, beating the consensus estimate of $33.28 by $5.97. Sandisk had a return on equity of 87.84% and a net margin of 56.47%.The firm had revenue of $8.96 billion during the quarter. During the same period in the prior year, the company posted $0.29 earnings per share. The firm’s revenue for the quarter was up 371.6% compared to the same quarter last year. Sandisk has set its Q1 2027 guidance at 44.000-46.000 EPS. As a group, analysts expect that Sandisk will post 187.19 earnings per share for the current year.

Sandisk announced that its board has approved a share buyback plan on Wednesday, August 5th that allows the company to repurchase $14.00 billion in outstanding shares. This repurchase authorization allows the data storage provider to buy up to 6.6% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s leadership believes its shares are undervalued.

Insider Transactions at Sandisk

In related news, EVP Alper Ilkbahar sold 2,000 shares of the firm’s stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $1,756.58, for a total transaction of $3,513,160.00. Following the completion of the sale, the executive vice president directly owned 52,677 shares of the company’s stock, valued at approximately $92,531,364.66. This trade represents a 3.66% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Michael Pokorny sold 2,446 shares of the business’s stock in a transaction dated Tuesday, May 12th. The shares were sold at an average price of $1,426.18, for a total transaction of $3,488,436.28. Following the completion of the sale, the chief accounting officer owned 22,375 shares in the company, valued at approximately $31,910,777.50. This trade represents a 9.85% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 6,246 shares of company stock worth $9,993,292. 0.21% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Sandisk

A number of institutional investors and hedge funds have recently made changes to their positions in SNDK. Osaic Holdings Inc. purchased a new position in shares of Sandisk during the 2nd quarter worth approximately $317,000. Merit Financial Group LLC purchased a new stake in Sandisk in the third quarter valued at approximately $408,000. Dimensional Fund Advisors LP purchased a new stake in Sandisk in the third quarter valued at approximately $100,080,000. First Trust Advisors LP acquired a new position in Sandisk during the third quarter worth $9,788,000. Finally, Blair William & Co. IL acquired a new position in Sandisk during the third quarter worth $591,000.

Trending Headlines about Sandisk

Here are the key news stories impacting Sandisk this week:

• Positive Sentiment: Investor James Foord is reportedly selling AMD while buying Sandisk, arguing that SNDK offers a more attractive opportunity after both semiconductor stocks declined following strong results. Why this top investor is fleeing AMD but buying SanDisk after both stocks crashed
• Positive Sentiment: Analysts and investors see a path for SNDK to reclaim its prior high, supported by market-share gains, 51% sequential revenue growth and multiyear capital commitments from hyperscale customers. Prediction: Sandisk Will Reclaim Its All-Time High by the End of the Year
• Positive Sentiment: Sandisk’s shift toward enterprise SSDs and AI infrastructure is improving the quality of its earnings. Datacenter shipments more than doubled, adjusted gross margin reached 84.6%, and the company reported $93.9 billion in minimum revenue commitments, with much of future production already contracted. Sandisk: A Better Business Is Emerging From The AI Boom
• Positive Sentiment: Sandisk unveiled a High Bandwidth Flash standard designed for AI memory infrastructure, potentially creating a new growth avenue as data-center operators seek higher memory capacity and bandwidth. SanDisk Just Unveiled the First High-Bandwidth Flash Standard
• Neutral Sentiment: Sandisk’s more than 3,000% 12-month rally has prompted speculation that it could split its stock to make the shares more accessible. However, no split has been announced, and a split would not change the company’s underlying value. Sandisk Has Surged More Than 3,000% in 12 Months. Is a Stock Split Coming?
• Negative Sentiment: The stock’s decline after earnings reflects concern that the outlook may not justify extremely high expectations. Investors may be taking profits after the sharp rally, while broader semiconductor selling and uncertainty over NAND pricing add volatility. Wall Street Punishes Sandisk’s Outlook: What Investors Are Missing

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.