Sandisk (NASDAQ:SNDK) Hits New 12-Month High – Here’s What Happened

Sandisk Corporation (NASDAQ:SNDK)’s stock price reached a new 52-week high during trading on Thursday . The company traded as high as $1,863.96 and last traded at $1,879.9580, with a volume of 10345726 shares trading hands. The stock had previously closed at $1,643.23.

More Sandisk News

Here are the key news stories impacting Sandisk this week:

• Positive Sentiment: Bank of America raised its price target on Sandisk to $2,100 and kept a Buy rating, signaling confidence that the AI memory demand trend still has room to run. SanDisk Stock’s 5,000% Rally Hasn’t Stopped This Analyst: Is $2,100 Next?
• Positive Sentiment: Another analyst update also boosted sentiment, with BofA’s Wamsi Mohan reportedly lifting his target to $2,100 on the view that Sandisk remains well positioned in the memory market. This Analyst Just Upped the Price Target on SanDisk Stock. Here’s Why.
• Positive Sentiment: Shares also rose on a broader rebound in memory stocks after SK Hynix’s capacity plan lifted optimism around supply-demand balance in the sector. SanDisk Jumps 14%, Western Digital Climbs 6% as Memory Stocks Rebound on SK Hynix’s Capacity Plan
• Positive Sentiment: Market commentary continues to frame SNDK as an AI growth winner, with traders and analysts highlighting strong memory demand and expanding AI infrastructure exposure. SanDisk Stock (SNDK) Is Up 692% YTD. AI Analyst Raises Price Target and Still Sees More Upside Ahead
• Neutral Sentiment: Some media coverage is focused mainly on the stock’s extraordinary year-to-date surge and valuation, which may keep investor attention high but does not add a new operational catalyst. SanDisk skyrockets over 692% YTD, yet SNDK stock still appears reasonably valued

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the company. The Goldman Sachs Group restated a “buy” rating and set a $1,200.00 target price on shares of Sandisk in a research report on Friday, May 1st. Susquehanna increased their price objective on shares of Sandisk from $2,000.00 to $3,250.00 and gave the company a “positive” rating in a report on Friday, May 29th. Morgan Stanley increased their price objective on shares of Sandisk from $1,100.00 to $1,750.00 and gave the company an “overweight” rating in a report on Wednesday, June 3rd. Mizuho increased their price objective on shares of Sandisk from $1,825.00 to $2,200.00 and gave the company an “outperform” rating in a report on Monday. Finally, Bank of America increased their price objective on shares of Sandisk from $1,550.00 to $2,100.00 and gave the company a “buy” rating in a report on Monday. Three investment analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $1,580.67.

Sandisk Stock Performance

The firm’s 50 day moving average price is $1,288.10 and its two-hundred day moving average price is $749.25. The firm has a market cap of $293.23 billion, a PE ratio of 68.83 and a beta of 4.87.

Sandisk (NASDAQ:SNDK) last posted its quarterly 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. Sandisk had a net margin of 34.19% and a return on equity of 44.06%. The business had revenue of $5.95 billion during the quarter. During the same period last year, the company earned ($0.30) EPS. The business’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. On average, analysts forecast that Sandisk Corporation will post 64.01 earnings per share for the current year.

Insider Activity

In related news, CAO Michael Pokorny sold 2,446 shares of the stock in a transaction that occurred on Tuesday, May 12th. The shares were sold at an average price of $1,426.18, for a total transaction 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 approximately $31,910,777.50. This trade represents a 9.85% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Necip Sayiner sold 579 shares of the stock in a transaction that occurred on Friday, May 8th. The stock was sold at an average price of $1,503.11, for a total transaction of $870,300.69. Following the transaction, the director directly owned 2,900 shares of the company’s stock, valued at $4,359,019. The trade was a 16.64% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 5,625 shares of company stock worth $8,913,497. Corporate insiders own 0.21% of the company’s stock.

Hedge Funds Weigh In On Sandisk

A number of hedge funds have recently made changes to their positions in SNDK. Vanguard Group Inc. purchased a new position in shares of Sandisk during the 3rd quarter worth approximately $1,970,388,000. State Street Corp acquired a new stake in Sandisk during the 3rd quarter worth approximately $491,053,000. Arrowstreet Capital Limited Partnership acquired a new stake in Sandisk during the 3rd quarter worth approximately $297,293,000. Norges Bank acquired a new stake in Sandisk during the 4th quarter worth approximately $518,889,000. Finally, Bank of America Corp DE acquired a new stake in Sandisk during the 3rd quarter worth approximately $190,425,000.

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.