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

Sandisk Corporation (NASDAQ:SNDK) reached a new 52-week high on Tuesday . The stock traded as high as $2,354.39 and last traded at $2,273.73, with a volume of 9894696 shares. The stock had previously closed at $2,184.75.

Sandisk News Summary

Here are the key news stories impacting Sandisk this week:

• Positive Sentiment: Micron’s blowout Q3 earnings are helping lift sentiment across memory and storage stocks, including Sandisk, as investors view the results as evidence that AI-driven demand remains strong for NAND and related memory products. Article Title
• Positive Sentiment: Several reports say Sandisk’s AI-focused pivot is gaining traction, with analysts and commentators highlighting strong revenue growth, high margins, and large long-term supply commitments that support the bull case for the company. Article Title
• Positive Sentiment: Despite the recent selloff, some market watchers say Sandisk remains investable after its massive run, pointing to continued AI-related demand, new product launches, and the company’s transformation into a higher-value data-center supplier. Article Title
• Neutral Sentiment: Some technical commentary says the stock is testing key support after a strong rally, suggesting the current move may be a routine consolidation unless that support fails. Article Title
• Negative Sentiment: Recent articles warn that Sandisk has run too far, with some price targets well below current levels and commentary that risk/reward has worsened after the stock’s huge year-to-date surge. Article Title
• Negative Sentiment: Broader semiconductor weakness and AI-bubble fears have triggered profit-taking in memory stocks, and Sandisk has been caught up in the sector-wide selloff. Article Title

Analyst Ratings Changes

A number of equities research analysts have weighed in on SNDK shares. Raymond James Financial reaffirmed an “outperform” rating and set a $1,470.00 price objective on shares of Sandisk in a report on Friday, May 1st. UBS Group set a $1,700.00 price objective on shares of Sandisk in a research note on Monday, May 4th. Evercore reiterated an “outperform” rating and issued a $1,400.00 price target on shares of Sandisk in a report on Friday, May 1st. Wells Fargo & Company raised their price objective on Sandisk from $975.00 to $1,250.00 and gave the company an “equal weight” rating in a report on Friday, May 1st. Finally, Susquehanna upped 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. Three analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $1,580.67.

Sandisk Stock Down 2.4%

The stock has a market capitalization of $283.76 billion, a price-to-earnings ratio of 66.60 and a beta of 4.87. The stock has a 50 day moving average price of $1,494.22 and a 200 day moving average price of $857.75.

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, 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 business’s revenue for the quarter was up 251.0% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.30) earnings per share. Sandisk has set its Q4 2026 guidance at 30.000-33.000 EPS. Sell-side analysts forecast that Sandisk Corporation will post 64.01 earnings per share for the current fiscal year.

Insider Activity at Sandisk

In other Sandisk news, Director Necip Sayiner sold 579 shares of Sandisk stock in a transaction on Friday, May 8th. The shares were sold at an average price of $1,503.11, for a total value of $870,300.69. Following the completion of the sale, the director directly 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 transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, 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 value of $3,513,160.00. Following the completion of the transaction, the executive vice president owned 52,677 shares in the company, valued at approximately $92,531,364.66. This represents a 3.66% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 5,625 shares of company stock valued at $8,913,497. Company insiders own 0.21% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SNDK. Allworth Financial LP boosted its holdings in shares of Sandisk by 84.2% in the fourth quarter. Allworth Financial LP now owns 4,521 shares of the data storage provider’s stock worth $1,073,000 after acquiring an additional 2,067 shares during the period. Tredje AP fonden purchased a new position in Sandisk in the 4th quarter worth approximately $7,821,000. ProShare Advisors LLC boosted its holdings in shares of Sandisk by 1,301.5% during the fourth quarter. ProShare Advisors LLC now owns 33,637 shares of the data storage provider’s stock worth $7,985,000 after purchasing an additional 31,237 shares during the period. FourThought Financial Partners LLC purchased a new stake in Sandisk in the fourth quarter worth $422,000. Finally, North Dakota State Investment Board bought a new stake in Sandisk during the 4th quarter valued at approximately $1,127,000.

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.