Sandisk (NASDAQ:SNDK) Shares Up 1.3% – Still a Buy?

Sandisk Corporation (NASDAQ:SNDK) was up 1.3% during trading on Wednesday . The company traded as high as $1,511.77 and last traded at $1,499.37. 8,172,255 shares traded hands during mid-day trading, a decline of 50% from the average session volume of 16,316,539 shares. The stock had previously closed at $1,480.77.

More Sandisk News

Here are the key news stories impacting Sandisk this week:

• Positive Sentiment: Optimism about the AI-related NAND and data-storage cycle continues to support Sandisk. Recent coverage argues that demand from artificial intelligence infrastructure could extend the company’s growth runway, while another analysis highlights potential for substantial margin expansion and a possible 80% margin target. One Reason to Be Bullish on SanDisk Stock
• Positive Sentiment: Mizuho maintained an Outperform rating despite trimming its price target from $1,900 to $1,875, implying meaningful upside from the referenced market price. Analysts and momentum-focused research continue to point to strong earnings growth and favorable industry positioning. SanDisk Stock Climbs As NAND Optimism Lifts Memory Stocks
• Positive Sentiment: Sandisk’s latest reported quarter provides a fundamental cushion: earnings significantly exceeded estimates and revenue increased sharply year over year. The company’s Q1 fiscal 2027 earnings guidance also remains a key catalyst for investors.
• Neutral Sentiment: The recent rebound in Sandisk, Micron and other semiconductor stocks follows a steep memory-stock sell-off, indicating that trading is highly sensitive to sector sentiment, profit-taking and changes in expectations for NAND pricing. Micron, SanDisk, and AMD Stocks Are Rising after Monday’s Sell-Off
• Negative Sentiment: Memory stocks moved lower in premarket trading even as the broader technology sector rallied. The weakness suggests investors are locking in gains after Sandisk’s extraordinary run and reassessing elevated valuations and the sustainability of the memory upcycle. China’s YMTC Targets NAND Dominance by 2027
• Negative Sentiment: China’s Yangtze Memory Technologies is targeting greater NAND market share by 2027, raising longer-term competitive and pricing risks for Sandisk if YMTC expands production successfully.

Analyst Ratings Changes

SNDK has been the subject of a number of recent research reports. Raymond James Financial reiterated an “outperform” rating and set a $1,470.00 price objective on shares of Sandisk in a research report on Friday, May 1st. JPMorgan Chase & Co. began coverage on shares of Sandisk in a research note on Friday, August 14th. They set an “overweight” rating and a $2,250.00 price objective for the company. Royal Bank Of Canada upped their price objective on Sandisk from $1,300.00 to $1,600.00 and gave the stock a “sector perform” rating in a report on Friday, August 14th. Wells Fargo & Company increased their target price on shares of Sandisk from $1,400.00 to $1,550.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 13th. Finally, Jefferies Financial Group reissued a “buy” rating on shares of Sandisk in a research report on Thursday, August 6th. Three equities research analysts have rated the stock with a Strong Buy rating, twenty have given a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $1,998.14.

Sandisk Price Performance

The firm’s 50-day moving average price is $1,633.05 and its 200 day moving average price is $1,235.96. The firm has a market cap of $219.54 billion, a P/E ratio of 20.57, a PEG ratio of 0.15 and a beta of 5.20.

Sandisk (NASDAQ:SNDK) last issued its quarterly earnings results on Wednesday, August 5th. The data storage provider reported $39.25 earnings per share for the quarter, beating analysts’ consensus estimates of $33.28 by $5.97. The business had revenue of $8.96 billion during the quarter. Sandisk had a return on equity of 87.84% and a net margin of 56.47%.Sandisk’s revenue was up 371.6% compared to the same quarter last year. During the same quarter last year, the firm posted $0.29 earnings per share. Sandisk has set its Q1 2027 guidance at 44.000-46.000 EPS. Analysts forecast that Sandisk Corporation will post 208.92 earnings per share for the current year.

Sandisk announced that its Board of Directors has authorized a share repurchase plan on Wednesday, August 5th that allows the company to buyback $14.00 billion in shares. This buyback authorization allows the data storage provider to buy up to 6.6% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s leadership believes its shares are undervalued.

Insider Buying and Selling

In related news, EVP Alper Ilkbahar sold 2,000 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the executive vice president owned 52,677 shares in the company, valued at $92,531,364.66. The trade was a 3.66% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Bernard Shek sold 600 shares of the company’s stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $1,162.16, for a total value of $697,296.00. Following the transaction, the insider owned 30,915 shares of the company’s stock, valued at approximately $35,928,176.40. The trade was a 1.90% decrease in their ownership of the stock. 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 valued at $6,504,856. 0.21% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Sandisk

Several hedge funds and other institutional investors have recently modified their holdings of the company. Osaic Holdings Inc. acquired a new stake in shares of Sandisk in the 2nd quarter worth about $317,000. Merit Financial Group LLC acquired a new position in Sandisk during the 3rd quarter valued at about $408,000. Dimensional Fund Advisors LP acquired a new position in Sandisk during the 3rd quarter valued at about $100,080,000. First Trust Advisors LP bought a new position in Sandisk in the 3rd quarter worth about $9,788,000. Finally, Blair William & Co. IL bought a new position in Sandisk in the 3rd quarter worth about $591,000.

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.