Sandisk (NASDAQ:SNDK) Stock Price Down 12.6% – Should You Sell?

Sandisk Corporation (NASDAQ:SNDK)’s share price dropped 12.6% during trading on Thursday . The company traded as low as $1,390.04 and last traded at $1,411.08. Approximately 16,970,563 shares traded hands during trading, an increase of 3% from the average session volume of 16,415,512 shares. The stock had previously closed at $1,615.00.

Key Sandisk News

Here are the key news stories impacting Sandisk this week:

• Positive Sentiment: Despite the pullback, several recent pieces remain constructive on Sandisk’s long-term setup, pointing to strong demand from AI infrastructure and tighter memory supply conditions that could support revenue and margins. Article Title
• Positive Sentiment: Sandisk’s valuation has come down sharply from recent highs, with some investors and analysts arguing the selloff may have made the stock more attractive relative to its growth outlook. Article Title
• Neutral Sentiment: Sandisk also announced progress on its Fab2 project with Kioxia and said BiCS10 sampling has begun, a development that supports its product roadmap but is not an immediate earnings catalyst. Article Title
• Negative Sentiment: Technical damage has intensified after the stock broke key support levels, with chart watchers citing a sharp drop from recent peaks and warning that momentum has turned decisively lower ahead of the next earnings report. Article Title
• Negative Sentiment: Sector-wide weakness, including concerns about Chinese competition and a broad AI-chip rotation, has added to the selloff in memory stocks such as Sandisk. Article Title

Analyst Ratings Changes

SNDK has been the subject of a number of recent analyst reports. Melius Research set a $2,350.00 target price on Sandisk in a research report on Monday, May 18th. Weiss Ratings upgraded Sandisk from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, July 6th. Wells Fargo & Company boosted their price target on Sandisk from $975.00 to $1,250.00 and gave the company an “equal weight” rating in a research note on Friday, May 1st. Morgan Stanley upped their price objective on shares of Sandisk from $1,100.00 to $1,750.00 and gave the stock an “overweight” rating in a research report on Wednesday, June 3rd. Finally, Arete Research upgraded shares of Sandisk from a “hold” rating to a “strong-buy” rating in a research note on Monday, April 13th. Two research analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $1,803.29.

Sandisk Price Performance

The stock has a market cap of $200.57 billion, a P/E ratio of 47.08 and a beta of 4.74. The stock has a 50-day simple moving average of $1,746.25 and a 200-day simple moving average of $1,042.54.

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 analysts’ consensus estimates of $14.17 by $9.24. The company had revenue of $5.95 billion for the quarter. Sandisk had a net margin of 34.19% and a return on equity of 44.06%. The company’s revenue for the quarter was up 251.0% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.30) earnings per share. Sandisk has set its Q4 2026 guidance at 30.000-33.000 EPS. As a group, sell-side analysts forecast that Sandisk Corporation will post 64.95 earnings per share for the current year.

Insider Activity at Sandisk

In other Sandisk news, insider Bernard Shek sold 600 shares of the business’s stock in a transaction on Wednesday, July 1st. The shares were sold at an average price of $2,088.00, for a total transaction of $1,252,800.00. Following the sale, the insider owned 31,515 shares of the company’s stock, valued at approximately $65,803,320. The trade was a 1.87% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Alper Ilkbahar sold 2,000 shares of the company’s 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 transaction, the executive vice president owned 52,677 shares of the company’s stock, valued at $92,531,364.66. This trade represents a 3.66% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 6,225 shares of company stock worth $10,166,297. Corporate insiders own 0.21% of the company’s stock.

Hedge Funds Weigh In On Sandisk

Several large investors have recently bought and sold shares of the company. Dogwood Wealth Management LLC lifted its holdings in Sandisk by 14.3% in the second quarter. Dogwood Wealth Management LLC now owns 48 shares of the data storage provider’s stock valued at $109,000 after buying an additional 6 shares during the period. Castle Rock Wealth Management LLC increased its holdings in Sandisk by 2.4% in the second quarter. Castle Rock Wealth Management LLC now owns 426 shares of the data storage provider’s stock worth $969,000 after purchasing an additional 10 shares in the last quarter. Legacy Wealth Asset Management LLC lifted its stake in Sandisk by 1.6% in the second quarter. Legacy Wealth Asset Management LLC now owns 772 shares of the data storage provider’s stock valued at $1,755,000 after buying an additional 12 shares during the period. GHP Investment Advisors Inc. boosted its stake in Sandisk by 12.0% during the first quarter. GHP Investment Advisors Inc. now owns 121 shares of the data storage provider’s stock worth $77,000 after acquiring an additional 13 shares in the last quarter. Finally, Versant Capital Management Inc boosted its position in shares of Sandisk by 2.5% during the 2nd quarter. Versant Capital Management Inc now owns 527 shares of the data storage provider’s stock worth $1,198,000 after purchasing an additional 13 shares in the last quarter.

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.