Rosenblatt Securities Begins Coverage on Sandisk (NASDAQ:SNDK)

Analysts at Rosenblatt Securities started coverage on shares of Sandisk (NASDAQ:SNDK) in a report issued on Tuesday, Benzinga reports. The brokerage set a “buy” rating and a $2,400.00 price target on the data storage provider’s stock. Rosenblatt Securities’ target price would indicate a potential upside of 35.85% from the company’s previous close.

Several other research analysts have also weighed in on SNDK. The Goldman Sachs Group reissued a “buy” rating and issued a $2,200.00 price objective on shares of Sandisk in a research report on Thursday, August 13th. Citigroup decreased their price target on shares of Sandisk from $2,500.00 to $2,100.00 and set a “buy” rating for the company in a research note on Thursday, August 6th. Royal Bank Of Canada raised their target price on Sandisk from $1,300.00 to $1,600.00 and gave the company a “sector perform” rating in a research note on Friday, August 14th. Bank of America boosted their target price on Sandisk from $2,100.00 to $2,500.00 and gave the company a “buy” rating in a research report on Wednesday, July 1st. Finally, Weiss Ratings downgraded Sandisk from a “buy (b-)” rating to a “hold (c+)” rating in a report on Thursday, September 10th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $2,015.61.

Sandisk Trading Down 1.4%

Sandisk stock opened at $1,766.64 on Tuesday. Sandisk has a 12 month low of $93.54 and a 12 month high of $2,354.39. The company has a market capitalization of $258.67 billion, a PE ratio of 24.23, a P/E/G ratio of 0.18 and a beta of 5.17. The stock has a 50-day moving average price of $1,502.53 and a two-hundred day moving average price of $1,370.55.

Sandisk (NASDAQ:SNDK) last released its quarterly earnings results on Wednesday, August 5th. The data storage provider reported $39.25 EPS for the quarter, beating analysts’ consensus estimates of $33.28 by $5.97. Sandisk had a return on equity of 87.84% and a net margin of 56.47%.The firm had revenue of $8.96 billion for the quarter. During the same quarter last year, the firm posted $0.29 EPS. The company’s quarterly revenue was up 371.6% on a year-over-year basis. 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 of Directors has initiated a stock buyback plan on Wednesday, August 5th that authorizes the company to buyback $14.00 billion in outstanding shares. This buyback authorization authorizes the data storage provider to reacquire up to 6.6% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s leadership believes its shares are undervalued.

Insider Activity

In related news, insider Bernard Shek sold 2,308 shares of the firm’s stock in a transaction dated Tuesday, September 8th. The shares were sold at an average price of $1,767.33, for a total transaction of $4,078,997.64. Following the transaction, the insider directly owned 25,305 shares of the company’s stock, valued at $44,722,285.65. This trade represents a 8.36% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Alper Ilkbahar sold 4,712 shares of the business’s stock in a transaction dated Thursday, September 3rd. The stock was sold at an average price of $1,540.58, for a total transaction of $7,259,212.96. Following the transaction, the executive vice president owned 44,134 shares in the company, valued at approximately $67,991,957.72. This trade represents a 9.65% 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 77,899 shares of company stock valued at $121,370,958 over the last quarter. 0.21% of the stock is owned by insiders.

Hedge Funds Weigh In On Sandisk

Several hedge funds have recently modified their holdings of the company. Silicon Valley Capital Partners boosted its stake in shares of Sandisk by 1,917.6% in the 2nd quarter. Silicon Valley Capital Partners now owns 343 shares of the data storage provider’s stock worth $779,000 after buying an additional 326 shares during the last quarter. SkyView Investment Advisors LLC purchased a new stake in shares of Sandisk during the second quarter valued at approximately $455,000. Bouchey Financial Group Ltd. purchased a new stake in shares of Sandisk during the second quarter valued at approximately $296,000. Capstone Financial Advisors Inc. bought a new stake in Sandisk during the second quarter worth $398,000. Finally, IPG Investment Advisors LLC bought a new stake in Sandisk during the second quarter worth $2,776,000.

Sandisk News Summary

Here are the key news stories impacting Sandisk this week:

• Positive Sentiment: Rosenblatt analyst Kevin Cassidy initiated coverage with a Buy rating and identified roughly 36% potential upside, arguing that artificial-intelligence infrastructure is creating a significant new opportunity for Sandisk’s memory and storage products. SanDisk Stock Price Forecast — Rosenblatt Analyst Sees Upside
• Positive Sentiment: AI spending, tight memory supplies and improving semiconductor sentiment continue to support the sector. Sandisk’s latest results also showed powerful momentum, with quarterly revenue up more than 370% year over year and earnings exceeding analyst expectations. Why Are AI Memory Chip Stocks Rising
• Neutral Sentiment: CEO David Goeckeler sold 33,841 shares for approximately $53.3 million under a pre-arranged Rule 10b5-1 plan. Although the sale reduced his direct ownership by 8.12%, he retained a substantial stake, making the transaction a limited discretionary signal. SEC insider transaction filing
• Negative Sentiment: Sandisk has recently lagged other memory stocks despite broader sector strength, suggesting profit-taking after its substantial rebound and possible technical resistance near recent highs. SanDisk Falls Despite Memory Rally
• Negative Sentiment: Investors are also assessing execution risks tied to Sandisk’s large deal pipeline, built-in pricing depreciation in some contracts and the company’s ability to overcome the AI “memory wall.” China’s CXMT is advancing DRAM production, potentially increasing competition and pressuring the shortage-driven pricing environment. Micron and SanDisk Face a New Test

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.