Sandisk Corporation (NASDAQ:SNDK – Get Free Report)’s stock price traded up 3.1% on Friday . The stock traded as high as $1,946.84 and last traded at $1,915.92. Approximately 10,329,805 shares changed hands during trading, a decline of 37% from the average daily volume of 16,456,943 shares. The stock had previously closed at $1,858.27.
Key Headlines 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
Wall Street Analyst Weigh In
Several research analysts have commented on SNDK shares. Jefferies Financial Group reaffirmed a “buy” rating and set a $1,400.00 price objective on shares of Sandisk in a research note on Friday, May 1st. Barclays raised shares of Sandisk from an “equal weight” rating to an “overweight” rating and increased their target price for the company from $1,200.00 to $2,300.00 in a research note on Tuesday, May 26th. Susquehanna raised their target price on shares of Sandisk from $2,000.00 to $3,250.00 and gave the stock a “positive” rating in a report on Friday, May 29th. Raymond James Financial reaffirmed an “outperform” rating and set a $1,470.00 price target on shares of Sandisk in a research note on Friday, May 1st. Finally, UBS Group set a $1,700.00 price target on shares of Sandisk in a report on Monday, May 4th. Two research analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, Sandisk presently has an average rating of “Moderate Buy” and a consensus price target of $1,684.24.
Sandisk Trading Up 3.1%
The stock has a 50-day simple moving average of $1,709.27 and a two-hundred day simple moving average of $990.08. The firm has a market capitalization of $283.73 billion, a P/E ratio of 66.59 and a beta of 4.74.
Sandisk (NASDAQ:SNDK – Get Free Report) last issued its earnings results on Thursday, April 30th. The data storage provider reported $23.41 earnings per share for the quarter, topping the consensus estimate of $14.17 by $9.24. Sandisk had a return on equity of 44.06% and a net margin of 34.19%.The business had revenue of $5.95 billion during the quarter. During the same quarter in the prior year, the company posted ($0.30) earnings per share. Sandisk’s quarterly revenue was up 251.0% compared to the same quarter last year. Sandisk has set its Q4 2026 guidance at 30.000-33.000 EPS. As a group, research analysts expect that Sandisk Corporation will post 64.01 EPS for the current year.
Insider Transactions at Sandisk
In other Sandisk news, CAO Michael Pokorny sold 2,446 shares of the 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 transaction, the chief accounting officer directly owned 22,375 shares in the company, valued at $31,910,777.50. This represents a 9.85% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Alper Ilkbahar sold 2,000 shares of the firm’s stock in a transaction dated 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 in the company, valued at $92,531,364.66. This trade represents a 3.66% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 6,225 shares of company stock valued at $10,166,297. Insiders own 0.21% of the company’s stock.
Institutional Investors Weigh In On Sandisk
Hedge funds have recently modified their holdings of the business. Dogwood Wealth Management LLC boosted its stake in shares of Sandisk by 14.3% during the second quarter. Dogwood Wealth Management LLC now owns 48 shares of the data storage provider’s stock valued at $109,000 after purchasing an additional 6 shares in the last quarter. Castle Rock Wealth Management LLC raised its stake in Sandisk by 2.4% in the second quarter. Castle Rock Wealth Management LLC now owns 426 shares of the data storage provider’s stock worth $969,000 after buying an additional 10 shares in the last quarter. Legacy Wealth Asset Management LLC raised its stake in Sandisk by 1.6% in the second quarter. Legacy Wealth Asset Management LLC now owns 772 shares of the data storage provider’s stock worth $1,755,000 after buying an additional 12 shares in the last quarter. GHP Investment Advisors Inc. lifted its holdings in Sandisk by 12.0% during the first quarter. GHP Investment Advisors Inc. now owns 121 shares of the data storage provider’s stock worth $77,000 after buying an additional 13 shares during the period. Finally, Versant Capital Management Inc lifted its holdings in Sandisk by 2.5% during the second quarter. Versant Capital Management Inc now owns 527 shares of the data storage provider’s stock worth $1,198,000 after buying an additional 13 shares during the period.
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.
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