Shares of Sandisk Corporation (NASDAQ:SNDK – Get Free Report) dropped 5.6% during trading on Wednesday . The stock traded as low as $873.93 and last traded at $891.72. Approximately 16,136,489 shares were traded during mid-day trading, a decline of 16% from the average daily volume of 19,215,877 shares. The stock had previously closed at $944.46.
Sandisk News Summary
Here are the key news stories impacting Sandisk this week:
- Positive Sentiment: Inclusion in the Nasdaq‑100 (effective April 20) is expected to force large passive and institutional buying into SNDK, creating structural demand that has been a major tailwind for the rally. The $600 Billion Buy Signal For SanDisk Stock
- Positive Sentiment: Fresh analyst support: Evercore initiated coverage with an Outperform (high price target cited) and Jefferies raised its price target — both moves are fueling buying and higher targets that underpin investor confidence. Evercore ISI Group initiates coverage of Sandisk (SNDK) with outperform recommendation Jefferies Raises PT on Sandisk (SNDK) Stock
- Positive Sentiment: Momentum and macro narrative: Jim Cramer and multiple outlets highlight outsized AI-driven memory demand; SNDK has posted huge YTD/12‑month gains, which keeps retail momentum and FOMO alive. SanDisk (SNDK) Stock Surges 2,739% in 12 Months as Memory Demand Soars
- Neutral Sentiment: Broad market/sector context: Tech and chip peers have rallied on easing geopolitical risk and AI optimism — that helps SNDK but also makes it sensitive to swings in sector flows. Wall Street Rebounds From US-Iran War Losses, S&P 500 Turns Positive For 2026 — SanDisk, Lumentum And These Stocks Are Driving Gains In SPY ETF
- Negative Sentiment: Today’s pullback appears driven largely by profit‑taking across memory names after a historic run, not by company‑specific news — traders are locking gains, which is weighing on SNDK intraday. Micron Falls 5%, SanDisk Drops 7%: Are Memory Stocks Finally Taking a Breather After a Historic Run?
- Negative Sentiment: Short‑term downside risk highlighted by critical pieces arguing the stock is cyclically exposed and possibly overvalued; these narratives can amplify selling during pullbacks. Sandisk: 3 Reasons To Sell (Rating Downgrade) Sandisk: A Cyclical Stock Priced For Secular Perfection
Wall Street Analysts Forecast Growth
SNDK has been the topic of several recent analyst reports. Wall Street Zen raised Sandisk from a “buy” rating to a “strong-buy” rating in a research note on Saturday, January 31st. Jefferies Financial Group lifted their price objective on Sandisk from $600.00 to $700.00 and gave the company a “buy” rating in a research report on Friday, January 30th. Raymond James Financial upgraded Sandisk from a “market perform” rating to an “outperform” rating and set a $725.00 price objective for the company in a research report on Friday, January 30th. Royal Bank Of Canada reiterated a “sector perform” rating and issued a $650.00 price objective on shares of Sandisk in a research report on Friday, January 30th. Finally, KGI Securities initiated coverage on Sandisk in a research report on Wednesday, March 18th. They issued an “outperform” rating and a $992.00 price objective for the company. Three investment analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, five have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $684.50.
Sandisk Price Performance
The company has a 50 day moving average price of $663.07 and a 200 day moving average price of $402.40. The company has a market capitalization of $131.62 billion, a price-to-earnings ratio of -117.49 and a beta of 5.04. The company has a current ratio of 3.11, a quick ratio of 1.92 and a debt-to-equity ratio of 0.06.
Sandisk (NASDAQ:SNDK – Get Free Report) last released its earnings results on Thursday, January 29th. The data storage provider reported $6.20 EPS for the quarter, beating the consensus estimate of $3.31 by $2.89. The company had revenue of $3.03 billion during the quarter, compared to analysts’ expectations of $2.67 billion. Sandisk had a positive return on equity of 10.11% and a negative net margin of 11.66%.The firm’s revenue for the quarter was up 61.2% compared to the same quarter last year.
Insider Activity at Sandisk
In other news, Director Miyuki Suzuki sold 3,500 shares of Sandisk stock in a transaction on Wednesday, February 25th. The stock was sold at an average price of $627.53, for a total value of $2,196,355.00. Following the completion of the sale, the director directly owned 9,907 shares of the company’s stock, valued at approximately $6,216,939.71. This trade represents a 26.11% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.21% of the company’s stock.
Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Galaxy Digital Capital Management GP LLC bought a new position in shares of Sandisk in the 4th quarter worth $1,688,000. Purpose Unlimited Inc. bought a new position in shares of Sandisk in the 4th quarter worth $237,000. Hsbc Holdings PLC boosted its position in shares of Sandisk by 351.1% in the 4th quarter. Hsbc Holdings PLC now owns 176,439 shares of the data storage provider’s stock worth $41,959,000 after purchasing an additional 246,699 shares during the last quarter. Stance Capital LLC bought a new position in shares of Sandisk in the 4th quarter worth $1,373,000. Finally, Rockefeller Capital Management L.P. boosted its position in shares of Sandisk by 2.8% in the 4th quarter. Rockefeller Capital Management L.P. now owns 3,313 shares of the data storage provider’s stock worth $786,000 after purchasing an additional 89 shares during the last quarter.
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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