Sandisk (NASDAQ:SNDK) Trading Down 4% – Should You Sell?

Sandisk Corporation (NASDAQ:SNDK)’s stock price traded down 4% during mid-day trading on Friday . The company traded as low as $1,325.03 and last traded at $1,354.82. 19,504,979 shares traded hands during trading, an increase of 19% from the average daily volume of 16,441,541 shares. The stock had previously closed at $1,411.08.

Trending Headlines about Sandisk

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

Wall Street Analysts Forecast Growth

A number of research analysts have commented on SNDK shares. Bank of America upped their target price on shares of Sandisk from $2,100.00 to $2,500.00 and gave the company a “buy” rating in a research report on Wednesday, July 1st. Barclays upgraded shares of Sandisk from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $1,200.00 to $2,300.00 in a research report on Tuesday, May 26th. Weiss Ratings raised shares of Sandisk from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, July 6th. Sanford C. Bernstein upped their price objective on shares of Sandisk from $1,700.00 to $3,000.00 and gave the stock an “outperform” rating in a report on Monday, June 29th. Finally, Citigroup upped their price objective on shares of Sandisk from $2,025.00 to $2,500.00 and gave the stock a “buy” rating in a report on Thursday, June 25th. Two equities research analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat, Sandisk presently has an average rating of “Moderate Buy” and an average price target of $1,803.29.

Sandisk Trading Down 4.0%

The company has a fifty day moving average of $1,746.25 and a 200-day moving average of $1,042.54. The stock has a market cap of $200.57 billion, a PE ratio of 47.08 and a beta of 4.74.

Sandisk (NASDAQ:SNDK) last announced 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. 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 business’s revenue was up 251.0% compared to the same quarter last year. During the same quarter last year, the business earned ($0.30) earnings per share. Sandisk has set its Q4 2026 guidance at 30.000-33.000 EPS. As a group, research analysts anticipate that Sandisk Corporation will post 64.52 earnings per share for the current fiscal year.

Insider Buying and Selling at Sandisk

In related news, Director Necip Sayiner sold 579 shares of Sandisk stock in a transaction that occurred 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 transaction, the director owned 2,900 shares in the company, valued at approximately $4,359,019. The trade was a 16.64% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Bernard Shek sold 600 shares of the company’s stock in a transaction that occurred on Wednesday, July 1st. The stock was sold at an average price of $2,088.00, for a total transaction of $1,252,800.00. Following the sale, the insider directly owned 31,515 shares in the company, valued at approximately $65,803,320. The trade was a 1.87% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 6,225 shares of company stock worth $10,166,297 over the last ninety days. Company insiders own 0.21% of the company’s stock.

Hedge Funds Weigh In On Sandisk

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. State Street Corp grew its position in shares of Sandisk by 20.7% during the fourth quarter. State Street Corp now owns 5,281,522 shares of the data storage provider’s stock worth $1,253,728,000 after buying an additional 904,933 shares in the last quarter. Geode Capital Management LLC grew its holdings in Sandisk by 44.9% during the 4th quarter. Geode Capital Management LLC now owns 3,655,860 shares of the data storage provider’s stock worth $866,310,000 after acquiring an additional 1,133,276 shares in the last quarter. Arrowstreet Capital Limited Partnership grew its holdings in Sandisk by 31.3% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 3,478,002 shares of the data storage provider’s stock worth $825,608,000 after acquiring an additional 828,332 shares in the last quarter. Morgan Stanley increased its position in shares of Sandisk by 7.2% in the 4th quarter. Morgan Stanley now owns 2,970,361 shares of the data storage provider’s stock valued at $705,105,000 after purchasing an additional 199,545 shares during the last quarter. Finally, Norges Bank purchased a new stake in shares of Sandisk in the 4th quarter valued at approximately $518,889,000.

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.