Sandisk (NASDAQ:SNDK) Sets New 1-Year High – Time to Buy?

Sandisk Corporation (NASDAQ:SNDK)’s stock price reached a new 52-week high on Wednesday . The company traded as high as $2,167.33 and last traded at $1,991.55, with a volume of 9524779 shares changing hands. The stock had previously closed at $2,107.86.

Sandisk News Summary

Here are the key news stories impacting Sandisk this week:

• Positive Sentiment: Apple’s warning about unavoidable memory price increases is lifting sentiment across the memory chip group and highlighting Sandisk’s pricing power. Why Is SanDisk Stock Surging On Thursday?
• Positive Sentiment: Pre-market gains in SNDK followed Apple’s comments, with traders also bidding up Western Digital, Micron, and Seagate on expectations of stronger memory-chip pricing. MU, SNDK, STX, WDC stocks rise after Apple chief warns of memory-driven price hikes
• Positive Sentiment: Several recent bullish notes argue the rally may still have room to run, citing AI data-center demand, strong revenue visibility, and upbeat analyst target revisions. Sandisk: The Market Is Underestimating Its FY 2027 Earnings Power
• Neutral Sentiment: Some commentary says the stock is extremely overbought and may be vulnerable to profit-taking after its massive run, which adds a cautionary note for momentum investors. Take Profits Now. Famous Chart Technician Says SanDisk is The “Most Overbought Stock Ever”
• Neutral Sentiment: Other pieces focus on valuation questions after the Western Digital spinoff and on technical momentum, but they do not add a clear new catalyst by themselves. SanDisk’s (SNDK) Spinoff Has Created a New Valuation Question

Analyst Ratings Changes

A number of research analysts recently commented on the company. UBS Group set a $1,700.00 price target on Sandisk in a research report on Monday, May 4th. Melius Research set a $2,350.00 price objective on shares of Sandisk in a research note on Monday, May 18th. The Goldman Sachs Group reissued a “buy” rating and issued a $1,200.00 target price on shares of Sandisk in a report on Friday, May 1st. Evercore restated an “outperform” rating and issued a $1,400.00 target price on shares of Sandisk in a research report on Friday, May 1st. Finally, Morgan Stanley upped their price target on shares of Sandisk from $1,100.00 to $1,750.00 and gave the stock an “overweight” rating in a report on Wednesday, June 3rd. Three investment analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, Sandisk presently has an average rating of “Moderate Buy” and an average target price of $1,580.67.

Sandisk Stock Up 11.5%

The stock has a market cap of $323.54 billion, a P/E ratio of 75.94 and a beta of 4.87. The company’s 50 day moving average price is $1,396.19 and its 200-day moving average price is $804.83.

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

Insider Buying and Selling

In other Sandisk news, CAO Michael Pokorny sold 2,446 shares of the company’s stock in a transaction dated Tuesday, May 12th. The stock was sold at an average price of $1,426.18, for a total value of $3,488,436.28. Following the sale, the chief accounting officer owned 22,375 shares in the company, valued at approximately $31,910,777.50. The trade was a 9.85% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Bernard Shek sold 600 shares of the firm’s stock in a transaction dated Wednesday, June 3rd. The stock was sold at an average price of $1,736.00, for a total value of $1,041,600.00. Following the transaction, the insider owned 32,232 shares of the company’s stock, valued at $55,954,752. This trade represents a 1.83% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 5,625 shares of company stock worth $8,913,497. Corporate insiders own 0.21% of the company’s stock.

Institutional Investors Weigh In On Sandisk

Institutional investors have recently modified their holdings of the company. Vanguard Group Inc. bought a new position in shares of Sandisk in the 3rd quarter worth about $1,970,388,000. State Street Corp boosted its position in shares of Sandisk by 20.7% during the 4th quarter. State Street Corp now owns 5,281,522 shares of the data storage provider’s stock valued at $1,253,728,000 after purchasing an additional 904,933 shares in the last quarter. Geode Capital Management LLC grew its stake in Sandisk by 44.9% during the fourth quarter. Geode Capital Management LLC now owns 3,655,860 shares of the data storage provider’s stock worth $866,310,000 after purchasing an additional 1,133,276 shares during the period. Arrowstreet Capital Limited Partnership lifted its stake in Sandisk by 31.3% in 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 buying an additional 828,332 shares during the period. Finally, Morgan Stanley boosted its holdings in shares of Sandisk by 7.2% during the 4th quarter. Morgan Stanley now owns 2,970,361 shares of the data storage provider’s stock worth $705,105,000 after buying an additional 199,545 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.