Sandisk (NASDAQ:SNDK) Stock Price Up 6.2% – What’s Next?

Sandisk Corporation (NASDAQ:SNDK)’s stock price was up 6.2% on Monday. The stock traded as high as $904.00 and last traded at $886.51. 13,758,856 shares changed hands during trading, a decline of 7% from the average session volume of 14,814,034 shares. The stock had previously closed at $835.06.

Key Stories Impacting Sandisk

These are some of the SNDK stories that stood out recently:

• Positive Sentiment: SanDisk rose alongside a broader revival in AI and memory stocks after revealing a new product. The reports did not provide further product details. Article: SanDisk Stock Soars on a New Product Reveal and AI Stock Revival
• Positive Sentiment: CoreWeave reported strong results and raised its 2026 capital-spending outlook to $37–39 billion, bolstering confidence in AI infrastructure investment and potential demand for memory and storage. Article: SanDisk Stock Jumps as CoreWeave Raises Spending Outlook
• Neutral Sentiment: SanDisk’s announced 8-for-1 stock split may draw investor attention, but a split does not by itself change the company’s underlying value. Article: History Says This Is What Will Happen After Sandisk’s Stock Split

Analyst Ratings Changes

A number of research firms have recently commented on SNDK. New Street Research set a $3,000.00 price target on shares of Sandisk in a report on Thursday, August 6th. Argus upgraded shares of Sandisk from a “hold” rating to a “buy” rating and set a $1,600.00 target price on the stock in a research note on Monday, August 10th. Raymond James Financial boosted their price target on Sandisk from $1,470.00 to $2,000.00 and gave the company an “outperform” rating in a report on Thursday, August 6th. Jefferies Financial Group reissued a “buy” rating and issued a $1,400.00 price objective (up from $1,000.00) on shares of Sandisk in a research note on Thursday, August 6th. Finally, JPMorgan Chase & Co. initiated coverage on Sandisk in a report on Friday, August 14th. They set an “overweight” rating and a $2,250.00 price objective on the stock. One research analyst has rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, Sandisk currently has an average rating of “Moderate Buy” and an average target price of $2,056.23.

Sandisk Stock Up 13.7%

The firm has a market capitalization of $139.12 billion, a PE ratio of 7.84, a price-to-earnings-growth ratio of 0.07 and a beta of 5.66. The company’s 50-day simple moving average is $1,478.33 and its 200 day simple moving average is $1,268.68.

Sandisk’s stock is scheduled to split before the market opens on Friday, November 20th. The 8-1 split was announced on Thursday, October 29th. The newly issued shares will be issued to shareholders after the closing bell on Thursday, November 19th.

Sandisk (NASDAQ:SNDK) last posted its quarterly earnings data on Thursday, October 29th. The data storage provider reported $49.51 EPS for the quarter, topping the consensus estimate of $46.19 by $3.32. The firm had revenue of $11.03 billion during the quarter. Sandisk had a net margin of 67.04% and a return on equity of 125.70%. The company’s revenue was up 23.0% compared to the same quarter last year. During the same quarter last year, the firm earned $1.22 EPS. On average, sell-side analysts forecast that Sandisk Corporation will post 226.01 earnings per share for the current fiscal year.

Sandisk declared that its Board of Directors has initiated a share repurchase program on Wednesday, August 5th that allows the company to buy back $14 billion in shares. This buyback authorization allows the data storage provider to reacquire up to 6.6% of its shares through open market purchases. Share buyback programs are often an indication that the company’s board believes its stock is undervalued.

Insiders Place Their Bets

In other news, insider Bernard Shek sold 600 shares of the stock in a transaction on Monday, November 2nd. The stock was sold at an average price of $1,158.26, for a total transaction of $694,956.00. Following the completion of the sale, the insider owned 24,666 shares in the company, valued at approximately $28,569,641.16. This represents a 2.37% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Luis Visoso sold 1,000 shares of the firm’s stock in a transaction on Tuesday, September 15th. The stock was sold at an average price of $1,568.83, for a total value of $1,568,830.00. Following the completion of the sale, the chief financial officer directly owned 130,976 shares of the company’s stock, valued at $205,479,078.08. The trade was a 0.76% 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. In the last 90 days, insiders have sold 77,899 shares of company stock worth $121,156,782. 0.29% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Sandisk

Hedge funds and other institutional investors have recently modified their holdings of the stock. Valley Wealth Managers Inc. acquired a new stake in shares of Sandisk during the first quarter worth $25,000. Atomic Invest LLC acquired a new position in shares of Sandisk in the 2nd quarter valued at $25,000. Hilton Head Capital Partners LLC increased its position in shares of Sandisk by 650.0% in the 3rd quarter. Hilton Head Capital Partners LLC now owns 15 shares of the data storage provider’s stock valued at $26,000 after acquiring an additional 13 shares during the period. IMG Wealth Management Inc. purchased a new position in Sandisk in the 1st quarter worth $29,000. Finally, Dunhill Financial LLC purchased a new position in Sandisk in the 2nd quarter worth $30,000.

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.