Sandisk (NASDAQ:SNDK) Trading 5.8% Higher – Time to Buy?

Shares of Sandisk Corporation (NASDAQ:SNDK) rose 5.8% during trading on Wednesday . The stock traded as high as $1,389.28 and last traded at $1,344.29. Approximately 11,887,033 shares changed hands during mid-day trading, a decline of 28% from the average session volume of 16,418,252 shares. The stock had previously closed at $1,271.05.

Trending Headlines about Sandisk

Here are the key news stories impacting Sandisk this week:

• Positive Sentiment: Analyst upgrades support the rebound. Argus upgraded Sandisk to Buy, while other coverage points to a bullish consensus and price targets above current trading levels. These upgrades suggest analysts view the recent selloff as an attractive entry point. Argus Upgrades Sandisk to Buy
• Positive Sentiment: AI demand and constrained supply are improving the outlook. Sandisk’s earnings call highlighted rising demand for storage in AI data centers, multiyear customer agreements, and disciplined supply growth. A persistent NAND shortage could support pricing and margins into fiscal 2027. Sandisk Q4 Earnings Call Centers on AI Demand and Long-Term Deals
• Positive Sentiment: Cash generation and buybacks may increase shareholder returns. Coverage emphasizes rapidly growing data-center revenue, stronger cash flow, and an aggressive share-repurchase program. Management’s willingness to buy back stock is being interpreted as evidence that it considers the shares undervalued. Sandisk Buyback and Data Center Growth
• Neutral Sentiment: Recent earnings remain a key fundamental support. Sandisk exceeded quarterly EPS expectations and reported exceptionally strong year-over-year revenue growth, with fiscal 2027 guidance providing additional visibility. However, much of the good news may already be reflected in the valuation. Sandisk Stock: Why I’m Buying on Fear
• Negative Sentiment: Volatility and cyclical risks remain significant. Sandisk has fallen substantially from its June peak, and investors remain concerned that memory pricing and AI-related expectations could reverse if supply improves or demand slows. The stock’s high beta makes further sharp swings possible. Sandisk Stock Rebound Outlook

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the company. Morgan Stanley raised their price objective on Sandisk from $1,100.00 to $1,750.00 and gave the stock an “overweight” rating in a report on Wednesday, June 3rd. Jefferies Financial Group reiterated a “buy” rating on shares of Sandisk in a research report on Thursday, August 6th. Citigroup decreased their price target on Sandisk from $2,500.00 to $2,100.00 and set a “buy” rating on the stock in a research note on Thursday, August 6th. Zacks Research upgraded Sandisk from a “hold” rating to a “strong-buy” rating in a report on Thursday, July 30th. Finally, Wedbush upped their price objective on shares of Sandisk from $1,200.00 to $2,000.00 and gave the company an “outperform” rating in a research note on Thursday, July 9th. Three investment analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $1,853.14.

Sandisk Trading Up 5.8%

The company has a market capitalization of $199.08 billion, a PE ratio of 18.44, a PEG ratio of 0.14 and a beta of 5.20. The company’s 50 day moving average price is $1,680.61 and its 200-day moving average price is $1,164.50.

Sandisk (NASDAQ:SNDK) last issued its earnings results on Wednesday, August 5th. The data storage provider reported $39.25 earnings per share for the quarter, topping the consensus estimate of $33.28 by $5.97. Sandisk had a return on equity of 87.84% and a net margin of 56.47%.The business had revenue of $8.96 billion for the quarter. During the same period last year, the business posted $0.29 earnings per share. The company’s quarterly revenue was up 371.6% compared to the same quarter last year. Sandisk has set its Q1 2027 guidance at 44.000-46.000 EPS. As a group, analysts predict that Sandisk Corporation will post 187.19 earnings per share for the current year.

Sandisk announced that its Board of Directors has approved a stock buyback program on Wednesday, August 5th that permits the company to buyback $14.00 billion in shares. This buyback authorization permits the data storage provider to repurchase up to 6.6% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board of directors believes its stock is undervalued.

Insider Transactions at Sandisk

In other news, EVP Alper Ilkbahar sold 2,000 shares of the business’s stock in a transaction dated 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 completion of the sale, the executive vice president owned 52,677 shares in the company, valued at approximately $92,531,364.66. The trade was a 3.66% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Bernard Shek sold 600 shares of the stock in a transaction that occurred on Monday, August 3rd. The stock was sold at an average price of $1,162.16, for a total transaction of $697,296.00. Following the sale, the insider directly owned 30,915 shares of the company’s stock, valued at approximately $35,928,176.40. This trade represents a 1.90% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 3,800 shares of company stock worth $6,504,856. Company insiders own 0.21% of the company’s stock.

Institutional Investors Weigh In On Sandisk

Several institutional investors have recently bought and sold shares of the business. BlackRock Inc. purchased a new position in shares of Sandisk in the 2nd quarter valued at $23,408,732,000. State Street Corp boosted its position in Sandisk by 20.7% during the 4th quarter. State Street Corp now owns 5,281,522 shares of the data storage provider’s stock worth $1,253,728,000 after purchasing an additional 904,933 shares during the period. Geode Capital Management LLC increased its holdings in Sandisk by 44.9% in the 4th quarter. Geode Capital Management LLC now owns 3,655,860 shares of the data storage provider’s stock valued at $866,310,000 after purchasing an additional 1,133,276 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its holdings in Sandisk by 31.3% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 3,478,002 shares of the data storage provider’s stock valued at $825,608,000 after purchasing an additional 828,332 shares in the last quarter. Finally, Morgan Stanley raised its position in Sandisk by 7.2% in the fourth 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 period.

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.