Sandisk (NASDAQ:SNDK) Stock Gets Price Target Cut from Cantor Fitzgerald

Sandisk (NASDAQ:SNDK) had its target price cut by stock analysts at Cantor Fitzgerald from $2,900.00 to $2,200.00 in a research note issued on Monday, Benzinga reports. The firm currently has an “overweight” rating on the data storage provider’s stock. Cantor Fitzgerald‘s target price points to a potential upside of 77.70% from the company’s current price.

SNDK has been the subject of several other reports. Jefferies Financial Group reiterated a “buy” rating and set a $1,400.00 price objective (up from $1,000.00) on shares of Sandisk in a report on Thursday, August 6th. Royal Bank Of Canada upped their target price on Sandisk from $1,300.00 to $1,600.00 and gave the stock a “sector perform” rating in a research report on Friday, August 14th. New Street Research set a $3,000.00 price target on Sandisk in a research note on Thursday, August 6th. Arete Research lifted their price target on Sandisk from $2,300.00 to $3,000.00 and gave the company a “buy” rating in a report on Thursday, August 27th. Finally, Wedbush reissued an “outperform” rating and issued a $2,000.00 price target on shares of Sandisk in a research note on Friday, August 14th. Three research analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, Sandisk has an average rating of “Moderate Buy” and an average price target of $2,093.73.

Sandisk Stock Performance

Shares of Sandisk stock opened at $1,238.03 on Monday. The company’s 50-day moving average price is $1,595.43 and its two-hundred day moving average price is $1,525.70. The stock has a market cap of $178.93 billion, a PE ratio of 16.98, a price-to-earnings-growth ratio of 0.12 and a beta of 5.23. Sandisk has a 52 week low of $164.56 and a 52 week high of $2,354.39.

Sandisk (NASDAQ:SNDK) last posted its quarterly earnings data 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. The company had revenue of $8.96 billion during the quarter. Sandisk had a net margin of 56.47% and a return on equity of 87.84%. Sandisk’s quarterly revenue was up 371.6% compared to the same quarter last year. During the same period in the prior year, the company posted $0.29 earnings per share. Sandisk has set its Q1 2027 guidance at 44.000-46.000 EPS. On average, equities analysts predict that Sandisk will post 208.94 EPS for the current fiscal year.

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

Insider Activity at Sandisk

In related news, CEO David Goeckeler sold 33,841 shares of the firm’s stock in a transaction dated Thursday, September 17th. The stock was sold at an average price of $1,574.21, for a total value of $53,272,840.61. Following the transaction, the chief executive officer owned 382,865 shares in the company, valued at $602,709,911.65. This trade represents a 8.12% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 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 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 transaction, the insider directly owned 25,305 shares in the company, valued at approximately $44,722,285.65. This trade represents a 8.36% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 77,899 shares of company stock valued at $121,159,122 over the last ninety days. Company insiders own 0.29% of the company’s stock.

Hedge Funds Weigh In On Sandisk

Hedge funds and other institutional investors have recently made changes to their positions in the company. Leo Wealth LLC bought a new position in Sandisk during the third quarter worth about $277,000. Apollon Wealth Management LLC lifted its stake in Sandisk by 2.5% in the third quarter. Apollon Wealth Management LLC now owns 2,578 shares of the data storage provider’s stock valued at $4,486,000 after buying an additional 63 shares in the last quarter. Hilton Head Capital Partners LLC boosted its holdings in shares of Sandisk by 650.0% in the third quarter. Hilton Head Capital Partners LLC now owns 15 shares of the data storage provider’s stock valued at $26,000 after buying an additional 13 shares during the period. Sigma Planning Corp increased its position in shares of Sandisk by 41.2% during the third quarter. Sigma Planning Corp now owns 1,756 shares of the data storage provider’s stock worth $3,055,000 after acquiring an additional 512 shares in the last quarter. Finally, Brandywine Oak Private Wealth LLC increased its position in shares of Sandisk by 15.1% during the third quarter. Brandywine Oak Private Wealth LLC now owns 191 shares of the data storage provider’s stock worth $332,000 after acquiring an additional 25 shares in the last quarter.

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.