Sandisk (NASDAQ:SNDK) Shares Down 3.9% – Here’s What Happened

Sandisk Corporation (NASDAQ:SNDK)’s share price traded down 3.9% during mid-day trading on Thursday . The company traded as low as $1,725.08 and last traded at $1,759.68. 10,378,889 shares were traded during mid-day trading, a decline of 41% from the average session volume of 17,444,107 shares. The stock had previously closed at $1,831.50.

Trending Headlines about Sandisk

Here are the key news stories impacting Sandisk this week:

• Positive Sentiment: Analyst commentary remains constructive, with reports citing bullish views on Sandisk and Morgan Stanley lifting its price target by 59%, signaling expectations for further upside from AI-driven memory demand. SNDK stock hits record high: Morgan Stanley raises PT by 59%, sees further upside ahead
• Positive Sentiment: Several bullish pieces argue Sandisk’s AI storage opportunity is still early, highlighting strong recent revenue growth, high margins, and a favorable memory-supply backdrop that could support fundamentals. Sandisk’s AI Storage Moment Is Just Getting Started
• Neutral Sentiment: Market commentary notes Sandisk was among the standout semiconductor winners this year, but that outsized rally is also making the shares more vulnerable to profit-taking and valuation concerns. Sandisk stock is firing on all cylinders: is a day of reckoning coming?
• Neutral Sentiment: Another article suggests analysts still see Sandisk as a key AI memory beneficiary, reinforcing the long-term demand story even as short-term trading turns volatile. These Experts Say the Memory-Stock Runup May Not Be Over Yet
• Negative Sentiment: Friday’s selloff appears driven by a “parabolic” unwind in semiconductor leaders, with Sandisk and peers Micron and Marvell sliding as investors reduce exposure to overheated AI trades. Micron, Sandisk stocks slide as traders exit high-flying AI plays
• Negative Sentiment: New competition concerns and softer sentiment across tech hardware added to the weakness, suggesting near-term momentum could fade if the sector rotation continues. Micron (MU), SanDisk (SNDK) Stocks Slide after Broadcom Outlook and New Competition Threat

Analysts Set New Price Targets

SNDK has been the topic of a number of recent analyst reports. Melius Research set a $2,350.00 price objective on shares of Sandisk in a research report on Monday, May 18th. Arete Research upgraded shares of Sandisk from a “hold” rating to a “strong-buy” rating in a research note on Monday, April 13th. Bank of America increased their target price on Sandisk from $900.00 to $1,080.00 and gave the company a “buy” rating in a report on Friday, April 17th. Zacks Research upgraded Sandisk from a “hold” rating to a “strong-buy” rating in a research note on Friday, February 20th. Finally, Susquehanna lifted their price target on Sandisk from $2,000.00 to $3,250.00 and gave the stock a “positive” rating in a report on Friday, May 29th. Three analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $1,398.27.

Sandisk Stock Performance

The firm’s 50-day moving average price is $1,174.63 and its two-hundred day moving average price is $695.82. The firm has a market cap of $230.92 billion, a PE ratio of 54.20 and a beta of 4.87.

Sandisk (NASDAQ:SNDK) last posted its earnings results 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. Sandisk had a net margin of 34.19% and a return on equity of 44.06%. The firm had revenue of $5.95 billion for the quarter. During the same period last year, the business earned ($0.30) earnings per share. The company’s quarterly revenue was up 251.0% on a year-over-year basis. Sandisk has set its Q4 2026 guidance at 30.000-33.000 EPS. As a group, sell-side analysts predict that Sandisk Corporation will post 63.58 earnings per share for the current fiscal year.

Insider Transactions at Sandisk

In related news, CAO Michael Pokorny sold 2,446 shares of the company’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 sale, the chief accounting officer directly owned 22,375 shares of the company’s stock, valued at $31,910,777.50. This represents a 9.85% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Bernard Shek sold 600 shares of the firm’s stock in a transaction that occurred on Wednesday, June 3rd. The stock was sold at an average price of $1,736.00, for a total value of $1,041,600.00. Following the transaction, the insider owned 32,232 shares in the company, valued at $55,954,752. This represents a 1.83% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 5,625 shares of company stock worth $8,913,497. 0.21% of the stock is owned by company insiders.

Institutional Investors Weigh In On Sandisk

Several large investors have recently modified their holdings of SNDK. GHP Investment Advisors Inc. increased its holdings in shares of Sandisk by 12.0% in the 1st quarter. GHP Investment Advisors Inc. now owns 121 shares of the data storage provider’s stock valued at $77,000 after acquiring an additional 13 shares during the period. Blair William & Co. IL boosted its stake in Sandisk by 0.3% during the 4th quarter. Blair William & Co. IL now owns 5,287 shares of the data storage provider’s stock worth $1,255,000 after purchasing an additional 17 shares during the period. Empirical Finance LLC boosted its stake in Sandisk by 0.7% during the 1st quarter. Empirical Finance LLC now owns 3,535 shares of the data storage provider’s stock worth $2,246,000 after purchasing an additional 24 shares during the period. SOA Wealth Advisors LLC. grew its position in Sandisk by 108.0% during the 1st quarter. SOA Wealth Advisors LLC. now owns 52 shares of the data storage provider’s stock worth $33,000 after purchasing an additional 27 shares during the last quarter. Finally, Larson Financial Group LLC grew its position in Sandisk by 20.2% during the 4th quarter. Larson Financial Group LLC now owns 220 shares of the data storage provider’s stock worth $52,000 after purchasing an additional 37 shares during 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.