Sandisk (NASDAQ:SNDK) Rating Lowered to “Hold” at Zacks Research

Sandisk (NASDAQ:SNDK) was downgraded by equities researchers at Zacks Research from a “strong-buy” rating to a “hold” rating in a note issued to investors on Monday, Zacks reports.

SNDK has been the topic of several other reports. Evercore reiterated an “outperform” rating on shares of Sandisk in a research note on Thursday, August 13th. Wedbush restated an “outperform” rating and set a $2,000.00 price objective on shares of Sandisk in a research report on Friday, August 14th. JPMorgan Chase & Co. initiated coverage on shares of Sandisk in a report on Friday, August 14th. They issued an “overweight” rating and a $2,250.00 target price for the company. Mizuho dropped their target price on shares of Sandisk from $1,900.00 to $1,875.00 and set an “outperform” rating on the stock in a research report on Tuesday, August 25th. Finally, Weiss Ratings upgraded shares of Sandisk from a “hold (c)” rating to a “buy (b-)” rating in a research note on Thursday, August 27th. Two research analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $1,998.14.

Sandisk Stock Performance

SNDK opened at $1,737.99 on Monday. Sandisk has a one year low of $69.57 and a one year high of $2,354.39. The company has a market cap of $254.47 billion, a P/E ratio of 23.84, a PEG ratio of 0.17 and a beta of 5.17. The business’s 50-day simple moving average is $1,526.40 and its 200-day simple moving average is $1,305.86.

Sandisk (NASDAQ:SNDK) last posted 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. The firm 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 for the quarter was up 371.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.29 EPS. Sandisk has set its Q1 2027 guidance at 44.000-46.000 EPS. As a group, analysts predict that Sandisk will post 208.92 earnings per share for the current fiscal year.

Sandisk declared that its board has initiated a share repurchase program on Wednesday, August 5th that permits the company to buyback $14.00 billion in outstanding shares. This buyback authorization permits the data storage provider to buy up to 6.6% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s leadership believes its stock is undervalued.

Insider Activity at Sandisk

In other Sandisk news, EVP Alper Ilkbahar sold 4,712 shares of the business’s stock in a transaction that occurred on Thursday, September 3rd. The stock was sold at an average price of $1,540.58, for a total value of $7,259,212.96. Following the completion of the sale, the executive vice president owned 44,134 shares in the company, valued at approximately $67,991,957.72. The trade was a 9.65% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Bernard Shek sold 2,308 shares of the stock in a transaction that occurred on Tuesday, September 8th. The shares were sold at an average price of $1,767.33, for a total value of $4,078,997.64. Following the completion of the sale, the insider directly owned 25,305 shares of the company’s stock, valued at $44,722,285.65. The trade was a 8.36% 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. In the last ninety days, insiders have sold 9,220 shares of company stock worth $14,829,223. 0.21% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of SNDK. California State Teachers Retirement System increased its stake in Sandisk by 235,032.6% in the second quarter. California State Teachers Retirement System now owns 380,392,755 shares of the data storage provider’s stock valued at $864,910,419,000 after purchasing an additional 380,230,977 shares during the period. BlackRock Inc. acquired a new stake in shares of Sandisk during the second quarter worth about $23,408,732,000. State Street Corp grew its holdings 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 during the last quarter. Geode Capital Management LLC grew its holdings in shares of Sandisk by 44.9% during the fourth quarter. Geode Capital Management LLC now owns 3,655,860 shares of the data storage provider’s stock worth $866,310,000 after buying an additional 1,133,276 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership grew its holdings in shares of Sandisk by 31.3% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 3,478,002 shares of the data storage provider’s stock worth $825,608,000 after buying an additional 828,332 shares during the last quarter.

Key Headlines Impacting Sandisk

Here are the key news stories impacting Sandisk this week:

• Positive Sentiment: Potential for sharply higher memory prices. Industry analysts cited in recent coverage believe memory prices could rise as much as 60% as AI data centers increase demand for storage and other memory products. Tight supply could support Sandisk’s pricing, revenue and margins. Memory prices article
• Positive Sentiment: Citi maintained its Buy rating and $2,100 price target. Analyst Asiya Merchant said AI-driven NAND demand remains supportive. The target is above Sandisk’s reported opening price of $1,737.99, suggesting continued potential upside if demand and pricing stay strong. Citi rating article
• Positive Sentiment: Recent operating momentum remains substantial. Sandisk’s latest reported quarter showed revenue growth of 371.6% year over year and earnings well above consensus. The company also authorized a $14 billion share repurchase program, potentially supporting per-share results.
• Neutral Sentiment: S&P 100 inclusion remains a potential technical catalyst. Sandisk is scheduled to join the index before trading opens September 21, which could increase institutional demand and visibility after its more than 500% 2026 advance. S&P 100 inclusion article
• Negative Sentiment: Insider selling and elevated expectations add caution. Insider Bernard Shek sold 2,308 shares for approximately $4.1 million, while EVP Alper Ilkbahar previously sold shares. Both transactions were made under pre-arranged Rule 10b5-1 plans, reducing their signaling value, but they may still encourage profit-taking concerns. Memory markets also remain cyclical, and the rally leaves SNDK exposed to a sharp reversal if NAND demand or pricing weakens. Sandisk insider sales article

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.