Sandisk (NASDAQ:SNDK) Stock Price Down 9.6% – Should You Sell?

Sandisk Corporation (NASDAQ:SNDK)’s stock price was down 9.6% during mid-day trading on Tuesday . The company traded as low as $239.27 and last traded at $240.25. Approximately 2,728,601 shares changed hands during trading, a decline of 45% from the average daily volume of 5,005,181 shares. The stock had previously closed at $265.88.

Analyst Ratings Changes

A number of research firms have commented on SNDK. Mizuho raised their target price on shares of Sandisk to $215.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 28th. Wells Fargo & Company raised their price objective on shares of Sandisk from $115.00 to $230.00 and gave the company an “equal weight” rating in a research report on Friday, November 7th. Susquehanna upped their target price on shares of Sandisk from $65.00 to $250.00 and gave the stock a “positive” rating in a report on Friday, November 7th. Wall Street Zen upgraded Sandisk from a “hold” rating to a “strong-buy” rating in a research report on Saturday, November 15th. Finally, Bank of America increased their target price on Sandisk from $270.00 to $300.00 and gave the stock a “buy” rating in a research report on Thursday. Three analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $193.29.

Sandisk Stock Down 20.3%

The company has a fifty day moving average price of $160.67 and a 200-day moving average price of $84.78. The company has a debt-to-equity ratio of 0.14, a quick ratio of 2.03 and a current ratio of 3.29. The firm has a market capitalization of $28.72 billion and a PE ratio of 612.38.

Sandisk (NASDAQ:SNDK) last released its quarterly earnings data on Thursday, November 6th. The data storage provider reported $1.22 EPS for the quarter, beating the consensus estimate of $0.58 by $0.64. The business had revenue of $2.31 billion for the quarter, compared to the consensus estimate of $2.12 billion. The company’s quarterly revenue was up 22.6% compared to the same quarter last year. Sandisk has set its Q2 2026 guidance at 3.000-3.40 EPS.

Hedge Funds Weigh In On Sandisk

Large investors have recently modified their holdings of the stock. Mitsubishi UFJ Asset Management Co. Ltd. bought a new position in Sandisk during the third quarter valued at $27,000. CVA Family Office LLC purchased a new position in shares of Sandisk during the 3rd quarter worth about $28,000. Parallel Advisors LLC bought a new position in Sandisk during the 3rd quarter valued at about $30,000. Northwestern Mutual Wealth Management Co. purchased a new stake in Sandisk in the 3rd quarter worth about $32,000. Finally, Covestor Ltd bought a new stake in Sandisk in the third quarter worth about $37,000.

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.