Sandisk (NASDAQ:SNDK) Trading 3.2% Higher Following Analyst Upgrade

Sandisk Corporation (NASDAQ:SNDK) shares traded up 3.2% during mid-day trading on Friday after Susquehanna raised their price target on the stock from $2,000.00 to $3,250.00. Susquehanna currently has a positive rating on the stock. Sandisk traded as high as $1,708.83 and last traded at $1,694.98. 8,200,257 shares changed hands during trading, a decline of 54% from the average session volume of 17,745,750 shares. The stock had previously closed at $1,641.64.

A number of other equities research analysts have also weighed in on the stock. Mizuho lifted their price objective on shares of Sandisk from $1,625.00 to $1,825.00 and gave the company an “outperform” rating in a report on Thursday. Wells Fargo & Company upped their target price on shares of Sandisk from $975.00 to $1,250.00 and gave the stock an “equal weight” rating in a research note on Friday, May 1st. Morgan Stanley reaffirmed an “overweight” rating and set a $1,100.00 price target on shares of Sandisk in a research note on Monday, April 27th. Wall Street Zen upgraded Sandisk from a “buy” rating to a “strong-buy” rating in a report on Saturday, January 31st. Finally, Weiss Ratings raised Sandisk from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Wednesday, May 20th. Three research analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Sandisk presently has an average rating of “Buy” and an average price target of $1,368.73.

Insider Buying and Selling

In other news, CAO Michael Pokorny sold 2,446 shares of the firm’s stock in a transaction dated Tuesday, May 12th. The stock was sold at an average price of $1,426.18, for a total value of $3,488,436.28. Following the completion of the transaction, the chief accounting officer directly owned 22,375 shares in the company, valued at $31,910,777.50. This trade represents a 9.85% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Necip Sayiner sold 579 shares of Sandisk stock in a transaction that occurred on Friday, May 8th. The shares were sold at an average price of $1,503.11, for a total transaction of $870,300.69. Following the sale, the director owned 2,900 shares of the company’s stock, valued at approximately $4,359,019. The trade was a 16.64% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Corporate insiders own 0.21% of the company’s stock.

Key Headlines Impacting Sandisk

Here are the key news stories impacting Sandisk this week:

• Positive Sentiment: Susquehanna raised its price target on SanDisk to $3,250 and kept a positive rating, reinforcing the view that the stock still has substantial upside after its run. Benzinga report on Susquehanna target hike
• Positive Sentiment: Mizuho also lifted its target and reiterated an outperform rating, while Barclays upgraded the stock and said SanDisk could see “another leg higher,” adding to the bullish Wall Street momentum. Barclays upgrade article
• Positive Sentiment: Analysts and industry coverage continue to frame SanDisk as a direct AI-memory play, with demand for high-performance storage rising as AI workloads become more memory-intensive and scarce supply supports pricing. Zacks QLC Stargate article
• Positive Sentiment: The company’s QLC Stargate product is expected to begin shipments in Q4 FY26, which could open a new revenue stream tied to AI data-center storage demand and broaden growth beyond TLC SSDs. Zacks QLC Stargate article
• Neutral Sentiment: Broader semiconductor optimism has also helped, as investors continue to bid up AI infrastructure names even though some commentary warns the chip rally may be getting overheated. 24/7 Wall St. sector commentary

Hedge Funds Weigh In On Sandisk

Several institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. acquired a new position in shares of Sandisk in the third quarter worth about $1,970,388,000. State Street Corp increased its stake in shares of Sandisk by 20.7% in the 4th quarter. State Street Corp now owns 5,281,522 shares of the data storage provider’s stock valued at $1,253,728,000 after purchasing an additional 904,933 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of Sandisk by 44.9% in the 4th quarter. Geode Capital Management LLC now owns 3,655,860 shares of the data storage provider’s stock valued at $866,310,000 after purchasing an additional 1,133,276 shares in the last quarter. Arrowstreet Capital Limited Partnership raised its holdings in Sandisk by 31.3% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 3,478,002 shares of the data storage provider’s stock worth $825,608,000 after purchasing an additional 828,332 shares during the period. Finally, Morgan Stanley boosted its position in Sandisk by 7.2% during the fourth quarter. Morgan Stanley now owns 2,970,361 shares of the data storage provider’s stock worth $705,105,000 after purchasing an additional 199,545 shares in the last quarter.

Sandisk Stock Up 3.2%

The business has a 50-day simple moving average of $1,054.51 and a 200-day simple moving average of $637.32. The company has a market cap of $251.01 billion, a PE ratio of 58.91 and a beta of 4.82.

Sandisk (NASDAQ:SNDK) last posted its quarterly earnings data on Thursday, April 30th. The data storage provider reported $23.41 EPS for the quarter, beating analysts’ consensus estimates of $14.17 by $9.24. The business had revenue of $5.95 billion during 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% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.30) earnings per share. Sandisk has set its Q4 2026 guidance at 30.000-33.000 EPS. On average, research analysts forecast that Sandisk Corporation will post 63.58 EPS for the current fiscal year.

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.