Sandisk Corporation (NASDAQ:SNDK – Get Free Report) shares fell 3.7% on Monday. The company traded as low as $1,659.02 and last traded at $1,712.89. 6,606,347 shares traded hands during trading, a decline of 58% from the average session volume of 15,615,339 shares. The stock had previously closed at $1,777.80.
Key Stories Impacting Sandisk
Here are the key news stories impacting Sandisk this week:
- Positive Sentiment: Sandisk’s exposure to AI data centers remains a key bullish factor. Analysts point to robust demand, long-term customer contracts, and proprietary controllers, firmware, and system designs that can support higher-value products and durable margins. Sandisk: No Fab Control, No HBF Exclusivity – Where The Money Really Comes From
- Positive Sentiment: Wall Street remains optimistic about Sandisk’s longer-term prospects despite near-term memory-market concerns. Bernstein analyst Mark Newman expects the shares to reach a new peak over the next 12 months, while recent coverage has highlighted the company’s earnings momentum and data-center opportunity. Wall Street analyst sets SanDisk stock price target for 12 months
- Positive Sentiment: Sandisk’s expanded $14 billion share-repurchase authorization could provide additional support by reducing its share count, although investors remain focused on whether current profitability can be sustained. Examine Sandisk Carefully Before You Jump in on The Buyback News
Analysts Set New Price Targets
A number of equities analysts have commented on SNDK shares. New Street Research set a $3,000.00 price objective on shares of Sandisk in a report on Thursday, August 6th. Weiss Ratings raised Sandisk from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday, September 24th. Raymond James Financial boosted their price target on Sandisk from $1,470.00 to $2,000.00 and gave the stock an “outperform” rating in a research note on Thursday, August 6th. China Renaissance increased their price target on Sandisk from $2,000.00 to $2,250.00 and gave the company a “buy” rating in a report on Wednesday, August 19th. Finally, Susquehanna dropped their price objective on Sandisk from $3,050.00 to $2,745.00 and set a “positive” rating on the stock in a report on Thursday, August 6th. Two analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $2,113.92.
Sandisk Price Performance
The company has a fifty day moving average price of $1,533.71 and a 200 day moving average price of $1,420.71. The company has a market capitalization of $253.27 billion, a P/E ratio of 23.73, a price-to-earnings-growth ratio of 0.17 and a beta of 5.17.
Sandisk (NASDAQ:SNDK – Get Free Report) last released its quarterly earnings data on Wednesday, August 5th. The data storage provider reported $39.25 earnings per share (EPS) 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%.The company’s revenue for the quarter was up 371.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.29 EPS. Sandisk has set its Q1 2027 guidance at 44.000-46.000 EPS. On average, equities research analysts predict that Sandisk Corporation will post 208.94 earnings per share for the current fiscal year.
Sandisk declared that its Board of Directors has initiated a stock repurchase plan on Wednesday, August 5th that permits the company to buyback $14.00 billion in shares. This buyback authorization permits the data storage provider to buy up to 6.6% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s board believes its stock is undervalued.
Insider Activity
In related news, EVP Alper Ilkbahar sold 4,712 shares of the 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 transaction, the executive vice president directly owned 44,134 shares of the company’s stock, valued at $67,991,957.72. This represents a 9.65% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Luis Visoso sold 1,000 shares of Sandisk stock in a transaction on Tuesday, September 15th. The shares were sold at an average price of $1,568.83, for a total value of $1,568,830.00. Following the sale, the chief financial officer directly owned 130,976 shares in the company, valued at $205,479,078.08. The trade was a 0.76% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 77,299 shares of company stock worth $120,118,158 in the last 90 days. 0.21% of the stock is currently owned by insiders.
Institutional Investors Weigh In On Sandisk
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. BlackRock Inc. acquired a new position in Sandisk during the 2nd quarter valued at about $23,408,732,000. Arrowstreet Capital Limited Partnership increased its stake 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 valued at $825,608,000 after acquiring an additional 828,332 shares during the period. Situational Awareness LP lifted its position in Sandisk by 42.4% in the second quarter. Situational Awareness LP now owns 2,495,344 shares of the data storage provider’s stock worth $5,673,739,000 after purchasing an additional 743,325 shares during the period. Evergreen Quality Fund GP Ltd. bought a new position in Sandisk during the 4th quarter valued at $255,848,000. Finally, Wellington Management Group LLP increased its position in shares of Sandisk by 71.2% during the 2nd quarter. Wellington Management Group LLP now owns 1,066,886 shares of the data storage provider’s stock valued at $2,425,811,000 after purchasing an additional 443,714 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.
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