Sandisk (NASDAQ:SNDK) Shares Up 2.7% – Time to Buy?

Sandisk Corporation (NASDAQ:SNDK) shares shot up 2.7% during trading on Thursday. The stock traded as high as $1,802.00 and last traded at $1,787.69. 9,129,672 shares changed hands during trading, a decline of 41% from the average session volume of 15,477,279 shares. The stock had previously closed at $1,739.89.

Sandisk News Roundup

Here are the key news stories impacting Sandisk this week:

• Positive Sentiment: AI data-center demand is supporting a tight NAND market. Micron’s results pointed to stronger pricing and constrained supply potentially extending through 2028, a backdrop that could benefit SanDisk’s storage products and margins. Citi maintained a Buy view and a $2,100 price target. Citi maintains Buy rating after Micron earnings
• Positive Sentiment: Analysts remain constructive on the longer-term opportunity, citing AI-related storage demand, strong pricing, and SanDisk’s shift toward multi-year data-center contracts. A Seeking Alpha analysis upgraded the stock while acknowledging that valuation is richer. SanDisk long-term deal coverage and valuation upgrade
• Neutral Sentiment: SanDisk is scheduled to report fiscal first-quarter 2027 results on October 29. The September 29 announcement contained no new guidance, leaving earnings and updated forecasts as the next major catalysts. What investors needed to notice in SanDisk stock
• Negative Sentiment: Memory and storage shares broadly weakened after Micron pulled back despite a record quarter and strong guidance; Western Digital and Seagate also declined. Investors appear to be taking profits after SanDisk’s exceptional 2026 rally and applying more demanding expectations to the group. Why memory and storage stocks are falling
• Negative Sentiment: Routine insider-sale disclosures may be adding short-term pressure. Recent filings show selling by several executives, including CEO David Goeckeler, although some transactions were arranged under Rule 10b5-1 plans and do not necessarily signal a change in business outlook. Why SanDisk stock is under pressure today

Analyst Ratings Changes

A number of research analysts have recently commented on the stock. The Goldman Sachs Group reissued a “buy” rating and issued a $2,200.00 target price (up from $1,200.00) on shares of Sandisk in a report on Thursday, August 13th. Cantor Fitzgerald restated an “overweight” rating and issued a $2,900.00 price target (up from $1,800.00) on shares of Sandisk in a research report on Monday, August 10th. Royal Bank Of Canada boosted their price objective on shares of Sandisk from $1,300.00 to $1,600.00 and gave the stock a “sector perform” rating in a research note on Friday, August 14th. Raymond James Financial lifted their target price on Sandisk from $1,470.00 to $2,000.00 and gave the stock an “outperform” rating in a report on Thursday, August 6th. Finally, Bank of America increased their price target on Sandisk from $2,100.00 to $2,500.00 and gave the company a “buy” rating in a research note on Wednesday, July 1st. Two research analysts have rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $2,113.92.

Sandisk Stock Down 3.8%

The firm has a 50 day moving average price of $1,545.74 and a 200 day moving average price of $1,438.52. The stock has a market capitalization of $251.84 billion, a PE ratio of 23.59, a P/E/G ratio of 0.18 and a beta of 5.23.

Sandisk (NASDAQ:SNDK) last posted its quarterly earnings data on Wednesday, August 5th. The data storage provider reported $39.25 earnings per share for the quarter, topping 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 business had revenue of $8.96 billion for the quarter. During the same period in the prior year, the firm posted $0.29 EPS. The firm’s revenue for the quarter was up 371.6% on a year-over-year basis. Sandisk has set its Q1 2027 guidance at 44.000-46.000 EPS. On average, equities analysts forecast that Sandisk Corporation will post 208.94 earnings per share for the current fiscal year.

Sandisk announced that its Board of Directors has initiated a share repurchase program on Wednesday, August 5th that permits the company to repurchase $14.00 billion in outstanding shares. This repurchase authorization permits the data storage provider to purchase up to 6.6% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s management believes its stock is undervalued.

Insider Activity

In other Sandisk news, EVP Alper Ilkbahar sold 4,712 shares of the firm’s stock in a transaction dated Thursday, September 3rd. The stock was sold at an average price of $1,540.58, for a total value of $7,259,212.96. Following the sale, the executive vice president owned 44,134 shares of the company’s stock, valued at $67,991,957.72. This trade represents a 9.65% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Bernard Shek sold 600 shares of the company’s stock in a transaction that occurred on Thursday, October 1st. The stock was sold at an average price of $1,734.94, for a total transaction of $1,040,964.00. Following the completion of the transaction, the insider owned 25,588 shares in the company, valued at approximately $44,393,644.72. This trade represents a 2.29% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 77,899 shares of company stock valued at $121,159,122. 0.21% of the stock is owned by company insiders.

Institutional Trading of Sandisk

Hedge funds and other institutional investors have recently bought and sold shares of the company. Valley Wealth Managers Inc. purchased a new stake in Sandisk during the 1st quarter valued at about $25,000. Atomic Invest LLC purchased a new position in Sandisk during the second quarter worth $25,000. IMG Wealth Management Inc. bought a new position in Sandisk during the 1st quarter valued at about $29,000. Dunhill Financial LLC bought a new position in shares of Sandisk during the second quarter valued at approximately $30,000. Finally, Mowery & Schoenfeld Wealth Management LLC bought a new position in Sandisk in the 2nd quarter valued at $32,000.

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.