Sandisk (NASDAQ:SNDK) Shares Gap Up – Time to Buy?

Sandisk Corporation (NASDAQ:SNDK) gapped up prior to trading on Monday . The stock had previously closed at $1,354.82, but opened at $1,408.78. Sandisk shares last traded at $1,422.8380, with a volume of 2,606,537 shares trading hands.

Wall Street Analysts Forecast Growth

SNDK has been the topic of a number of analyst reports. Royal Bank Of Canada increased their price target on Sandisk from $650.00 to $1,000.00 and gave the company a “sector perform” rating in a research note on Friday, May 1st. The Goldman Sachs Group reaffirmed a “buy” rating and set a $1,200.00 price objective on shares of Sandisk in a research note on Friday, May 1st. Arete Research upgraded Sandisk from a “hold” rating to a “strong-buy” rating in a report on Monday, April 13th. Bank of America increased their target price on Sandisk from $2,100.00 to $2,500.00 and gave the company a “buy” rating in a research note on Wednesday, July 1st. Finally, Mizuho raised their target price on Sandisk from $1,825.00 to $2,200.00 and gave the stock an “outperform” rating in a report on Monday, June 8th. Two equities research analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $1,803.29.

Sandisk Trading Up 5.8%

The company has a 50 day simple moving average of $1,746.25 and a 200-day simple moving average of $1,048.16. The stock has a market cap of $212.25 billion, a price-to-earnings ratio of 49.56 and a beta of 4.74.

Sandisk (NASDAQ:SNDK) last posted its quarterly earnings data on Thursday, April 30th. The data storage provider reported $23.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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%. Sandisk’s revenue for the quarter was up 251.0% on a year-over-year basis. During the same quarter last year, the business earned ($0.30) earnings per share. Sandisk has set its Q4 2026 guidance at 30.000-33.000 EPS. Equities analysts forecast that Sandisk Corporation will post 64.52 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Bernard Shek sold 600 shares of Sandisk stock in a transaction dated Wednesday, July 1st. The shares were sold at an average price of $2,088.00, for a total value of $1,252,800.00. Following the completion of the transaction, the insider owned 31,515 shares of the company’s stock, valued at $65,803,320. This trade represents a 1.87% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Necip Sayiner sold 579 shares of the business’s stock in a transaction dated Friday, May 8th. The stock was sold at an average price of $1,503.11, for a total transaction of $870,300.69. Following the transaction, the director owned 2,900 shares in the company, valued at $4,359,019. This represents a 16.64% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 6,225 shares of company stock worth $10,166,297. Insiders own 0.21% of the company’s stock.

Hedge Funds Weigh In On Sandisk

Institutional investors have recently bought and sold shares of the business. Trust Asset Management LLC raised its stake in Sandisk by 3.9% in the second quarter. Trust Asset Management LLC now owns 1,611 shares of the data storage provider’s stock valued at $3,663,000 after buying an additional 60 shares during the period. Regent Peak Wealth Advisors LLC boosted its stake in shares of Sandisk by 2.9% during the 2nd quarter. Regent Peak Wealth Advisors LLC now owns 635 shares of the data storage provider’s stock worth $1,444,000 after acquiring an additional 18 shares during the period. Ramsey Quantitative Systems bought a new position in shares of Sandisk during the 2nd quarter worth approximately $50,000. Tema ETFs LLC increased its holdings in shares of Sandisk by 10.0% during the 2nd quarter. Tema ETFs LLC now owns 2,649 shares of the data storage provider’s stock worth $6,023,000 after acquiring an additional 241 shares during the last quarter. Finally, Nolet Wealth Management LLC acquired a new position in shares of Sandisk during the 2nd quarter worth approximately $281,000.

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.