Sandisk (NASDAQ:SNDK) Trading Up 14.5% – Still a Buy?

Shares of Sandisk Corporation (NASDAQ:SNDK) were up 14.5% on Thursday . The company traded as high as $1,895.00 and last traded at $1,881.51. Approximately 13,396,462 shares traded hands during mid-day trading, a decline of 22% from the average daily volume of 17,218,320 shares. The stock had previously closed at $1,643.23.

Key Headlines Impacting Sandisk

Here are the key news stories impacting Sandisk this week:

• Positive Sentiment: SanDisk shares rose as memory stocks rebounded, with investors encouraged by SK Hynix’s capacity plan, which lifted sentiment across the NAND and storage group. SanDisk Jumps 14%, Western Digital Climbs 6% as Memory Stocks Rebound on SK Hynix’s Capacity Plan
• Positive Sentiment: Wall Street analysts have grown more optimistic on Sandisk, including BofA raising its price target to $2,100 and keeping a Buy rating, which supports the stock’s momentum. BofA Raises SanDisk (SNDK) Price Target to $2,100, Keeps Buy Rating
• Positive Sentiment: Analysts also highlighted Sandisk’s new business model, which has secured $42 billion in revenue commitments and could reduce earnings volatility tied to NAND pricing swings. Can SNDK’s New Business Models Reduce Dependence on NAND Volatility?

Analyst Upgrades and Downgrades

Several research firms have recently commented on SNDK. Zacks Research raised Sandisk from a “hold” rating to a “strong-buy” rating in a report on Friday, February 20th. Arete Research upgraded shares of Sandisk from a “hold” rating to a “strong-buy” rating in a report on Monday, April 13th. Weiss Ratings lowered shares of Sandisk from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Wednesday, June 3rd. Raymond James Financial reissued an “outperform” rating and issued a $1,470.00 price objective on shares of Sandisk in a research report on Friday, May 1st. Finally, Mizuho boosted their price objective on shares of Sandisk from $1,825.00 to $2,200.00 and gave the stock an “outperform” rating in a research note on Monday. Three analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, Sandisk has an average rating of “Moderate Buy” and an average target price of $1,580.67.

Sandisk Trading Up 14.5%

The business has a 50 day moving average of $1,237.43 and a two-hundred day moving average of $728.74. The firm has a market cap of $278.63 billion, a P/E ratio of 65.40 and a beta of 4.87.

Sandisk (NASDAQ:SNDK) last released its quarterly earnings data on Thursday, April 30th. The data storage provider reported $23.41 EPS for the quarter, topping analysts’ consensus estimates of $14.17 by $9.24. Sandisk had a net margin of 34.19% and a return on equity of 44.06%. The firm had revenue of $5.95 billion during the quarter. During the same period last year, the firm earned ($0.30) earnings per share. The company’s revenue for the quarter was up 251.0% compared to the same quarter last year. Sandisk has set its Q4 2026 guidance at 30.000-33.000 EPS. On average, sell-side analysts predict that Sandisk Corporation will post 64.01 EPS for the current year.

Insider Activity at Sandisk

In related news, EVP Alper Ilkbahar sold 2,000 shares of Sandisk stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $1,756.58, for a total transaction of $3,513,160.00. Following the completion of the sale, the executive vice president owned 52,677 shares of the company’s stock, valued at approximately $92,531,364.66. The trade was a 3.66% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Necip Sayiner sold 579 shares of the company’s stock in a transaction dated Friday, May 8th. The shares were sold at an average price of $1,503.11, for a total transaction of $870,300.69. Following the completion of the transaction, the director owned 2,900 shares in the company, valued at approximately $4,359,019. This trade represents a 16.64% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 5,625 shares of company stock worth $8,913,497. 0.21% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Sandisk

Large investors have recently made changes to their positions in the company. Osaic Holdings Inc. acquired a new stake in Sandisk during the 2nd quarter worth approximately $317,000. Merit Financial Group LLC acquired a new position in Sandisk in the 3rd quarter valued at $408,000. Jones Financial Companies Lllp bought a new position in Sandisk during the 3rd quarter worth $134,000. Bessemer Group Inc. acquired a new stake in shares of Sandisk during the third quarter worth $114,000. Finally, Smartleaf Asset Management LLC bought a new stake in shares of Sandisk in the third quarter valued at about $245,000.

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.