Sandisk (NASDAQ:SNDK) Trading 5.3% Higher – Still a Buy?

Sandisk Corporation (NASDAQ:SNDK) traded up 5.3% during mid-day trading on Monday . The stock traded as high as $1,694.99 and last traded at $1,642.00. 8,110,418 shares traded hands during mid-day trading, a decline of 53% from the average session volume of 17,326,029 shares. The stock had previously closed at $1,559.32.

More Sandisk News

Here are the key news stories impacting Sandisk this week:

• Positive Sentiment: Bank of America and other analysts raised their price targets on Sandisk, pointing to tight memory supply, strong contract demand, and continued upside in the AI storage cycle. Article: SanDisk Stock Has 35% More To Run, Analyst Says
• Positive Sentiment: Multiple reports say Sandisk’s shift toward multi-year NAND supply agreements is boosting margins, cash flow, and revenue certainty, which investors are viewing as a more durable business model. Article: SNDK’s New Business Model Boosts Profitability: Time to Buy the Stock?
• Positive Sentiment: Coverage from several outlets highlighted that Sandisk is benefiting from the broader memory-stock rebound, helped by NVIDIA CEO Jensen Huang’s comments that the memory shortage could last for years. Article: Nvidia CEO Pours Gasoline on the Micron and SanDisk Rally…
• Neutral Sentiment: Some commentary focused on valuation after Sandisk’s huge recent run, suggesting the stock is expensive and may need continued earnings delivery to justify the premium. Article: SK Hynix’s Potential Listing Will Crumble Sandisks Premium
• Negative Sentiment: One item noted insider selling, which is not helping sentiment even though it is smaller than the analyst-driven upside narrative. Article: Insider Selling: Sandisk (NASDAQ:SNDK) Insider Sells $1,041,600.00 in Stock

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. Cantor Fitzgerald increased their price target on Sandisk from $1,800.00 to $2,900.00 and gave the company an “overweight” rating in a report on Monday. Evercore restated an “outperform” rating and set a $1,400.00 target price on shares of Sandisk in a research note on Friday, May 1st. Morgan Stanley raised their target price on Sandisk from $1,100.00 to $1,750.00 and gave the company an “overweight” rating in a research note on Wednesday, June 3rd. Mizuho raised their target price on Sandisk from $1,825.00 to $2,200.00 and gave the company an “outperform” rating in a research note on Monday. Finally, The Goldman Sachs Group restated a “buy” rating and set a $1,200.00 target price on shares of Sandisk in a research note on Friday, May 1st. Three equities research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, Sandisk has a consensus rating of “Moderate Buy” and an average price target of $1,511.68.

Sandisk Stock Up 5.3%

The firm has a 50 day moving average price of $1,174.63 and a two-hundred day moving average price of $698.85. The company has a market capitalization of $243.16 billion, a price-to-earnings ratio of 57.07 and a beta of 4.87.

Sandisk (NASDAQ:SNDK) last announced its earnings results on Thursday, April 30th. The data storage provider reported $23.41 earnings per share for the quarter, beating the consensus estimate of $14.17 by $9.24. The company 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 revenue was up 251.0% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.30) earnings per share. Sandisk has set its Q4 2026 guidance at 30.000-33.000 EPS. Analysts predict that Sandisk Corporation will post 63.58 earnings per share for the current year.

Insider Transactions at Sandisk

In related news, Director Necip Sayiner sold 579 shares of Sandisk stock in a transaction dated Friday, May 8th. The stock was sold at an average price of $1,503.11, for a total value of $870,300.69. Following the completion of the transaction, the director directly owned 2,900 shares in the company, valued at approximately $4,359,019. This trade represents a 16.64% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Michael Pokorny sold 2,446 shares of Sandisk 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 owned 22,375 shares of the company’s stock, valued at $31,910,777.50. This trade represents a 9.85% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 5,625 shares of company stock valued at $8,913,497 over the last ninety days. 0.21% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Sandisk

Hedge funds have recently bought and sold shares of the company. Valley Wealth Managers Inc. bought a new position in Sandisk in the first quarter worth about $25,000. Whittier Trust Co. bought a new position in Sandisk in the fourth quarter worth about $26,000. Greenline Wealth Management LLC bought a new position in Sandisk in the fourth quarter worth about $26,000. Mitsubishi UFJ Asset Management Co. Ltd. bought a new position in Sandisk in the third quarter worth about $27,000. Finally, Chung Wu Investment Group LLC bought a new position in Sandisk in the fourth quarter worth about $27,000.

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.