Sandisk (NASDAQ:SNDK) EVP Alper Ilkbahar Sells 2,000 Shares

Sandisk Corporation (NASDAQ:SNDK) EVP Alper Ilkbahar sold 2,000 shares of the stock in a transaction on 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 sale, the executive vice president owned 52,677 shares of the company’s stock, valued at approximately $92,531,364.66. This represents a 3.66% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Sandisk Stock Down 2.6%

NASDAQ:SNDK traded down $45.07 during trading hours on Tuesday, reaching $1,716.36. 7,021,513 shares of the company’s stock were exchanged, compared to its average volume of 17,570,676. The firm has a market capitalization of $254.18 billion, a price-to-earnings ratio of 59.66 and a beta of 4.88. The company has a 50-day moving average of $1,093.12 and a 200 day moving average of $657.86. Sandisk Corporation has a 1-year low of $36.87 and a 1-year high of $1,804.00.

Sandisk (NASDAQ:SNDK) last posted its quarterly earnings data on Thursday, April 30th. The data storage provider reported $23.41 earnings per share for the quarter, topping analysts’ consensus estimates of $14.17 by $9.24. Sandisk had a return on equity of 44.06% and a net margin of 34.19%.The company had revenue of $5.95 billion during the quarter. During the same period in the previous year, the business posted ($0.30) earnings per share. The firm’s 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. Research analysts forecast that Sandisk Corporation will post 63.58 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

SNDK has been the subject of several analyst reports. Wells Fargo & Company upped their price target on Sandisk from $975.00 to $1,250.00 and gave the stock an “equal weight” rating in a research note on Friday, May 1st. Barclays upgraded shares of Sandisk from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $1,200.00 to $2,300.00 in a research report on Tuesday, May 26th. Morgan Stanley restated an “overweight” rating and set a $1,100.00 price objective on shares of Sandisk in a research report on Monday, April 27th. The Goldman Sachs Group restated a “buy” rating and set a $1,200.00 price objective on shares of Sandisk in a research report on Friday, May 1st. Finally, Melius Research set a $2,350.00 price objective on shares of Sandisk in a research report on Monday, May 18th. Three investment analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $1,368.73.

Sandisk News Summary

Here are the key news stories impacting Sandisk this week:

• Positive Sentiment: Analysts and market commentators continue to frame Sandisk as a key beneficiary of the AI data-center buildout, with memory shortages and strong pricing supporting earnings and revenue growth. Why Sandisk Corporation Is My Favorite Stock Idea Right Now
• Positive Sentiment: Zacks said the storage-devices industry is gaining momentum, citing demand from cloud computing, IoT, auto and AI as tailwinds for Sandisk and peers. 3 Storage Devices Stocks to Buy as the Industry Gains Momentum
• Positive Sentiment: Multiple articles point to fresh bullish analyst coverage and elevated price targets, suggesting Wall Street still sees upside despite Sandisk’s historic run. After SanDisk’s Historic Run, Analysts Still See More Upside
• Positive Sentiment: Recent coverage notes that Sandisk has outperformed many semiconductor peers as the “AI memory supercycle” drives a parabolic move in storage stocks. Micron Rises 7%, Western Digital Climbs and SanDisk Climb 4% as Memory Stocks Extend Parabolic Run
• Neutral Sentiment: Sandisk remains one of the most-searched tickers on Benzinga Pro, reflecting intense investor attention rather than a clear fundamental catalyst on its own. EXCLUSIVE: Top 12 Most-Searched Tickers In May On Benzinga Pro
• Neutral Sentiment: Some pieces ask whether Sandisk’s surge has gone too far, with record-high short interest and a sharp valuation run-up potentially creating volatility. SanDisk’s stock and short interest both at record highs – do the bears know something?

Hedge Funds Weigh In On Sandisk

Large investors have recently bought and sold shares of the company. Vanguard Personalized Indexing Management LLC acquired a new stake in shares of Sandisk in the third quarter worth approximately $1,136,000. Mutual of America Capital Management LLC acquired a new stake in shares of Sandisk in the third quarter worth approximately $1,735,000. Allworth Financial LP lifted its position in Sandisk by 84.2% during the fourth quarter. Allworth Financial LP now owns 4,521 shares of the data storage provider’s stock valued at $1,073,000 after buying an additional 2,067 shares in the last quarter. Tredje AP fonden acquired a new position in Sandisk during the fourth quarter valued at approximately $7,821,000. Finally, ProShare Advisors LLC lifted its position in Sandisk by 1,301.5% during the fourth quarter. ProShare Advisors LLC now owns 33,637 shares of the data storage provider’s stock valued at $7,985,000 after buying an additional 31,237 shares in the last quarter.

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.