Sandisk (NASDAQ:SNDK) Upgraded at Argus

Argus upgraded shares of Sandisk (NASDAQ:SNDK) from a hold rating to a buy rating in a research report report published on Monday morning, Marketbeat.com reports.

A number of other brokerages have also recently commented on SNDK. Arete Research upgraded Sandisk from a “hold” rating to a “strong-buy” rating in a report on Monday, April 13th. Mizuho increased their price target on Sandisk from $1,825.00 to $2,200.00 and gave the company an “outperform” rating in a report on Monday, June 8th. Melius Research set a $2,350.00 price target on Sandisk in a research report on Monday, May 18th. Citigroup lowered their price target on Sandisk from $2,500.00 to $2,100.00 and set a “buy” rating for the company in a research report on Thursday, August 6th. Finally, Wedbush lifted their price objective on shares of Sandisk from $1,200.00 to $2,000.00 and gave the stock an “outperform” rating in a research note on Thursday, July 9th. Three analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $1,853.14.

Sandisk Trading Up 5.8%

Shares of NASDAQ SNDK opened at $1,344.29 on Monday. Sandisk has a 12-month low of $42.82 and a 12-month high of $2,354.39. The firm’s 50-day moving average price is $1,670.86 and its 200-day moving average price is $1,170.42. The stock has a market capitalization of $199.08 billion, a price-to-earnings ratio of 18.44, a P/E/G ratio of 0.14 and a beta of 5.20.

Sandisk (NASDAQ:SNDK) last released its quarterly earnings results on Wednesday, August 5th. The data storage provider reported $39.25 EPS for the quarter, topping the consensus estimate of $33.28 by $5.97. Sandisk had a return on equity of 87.84% and a net margin of 56.47%.The company had revenue of $8.96 billion during the quarter. During the same quarter in the prior year, the business posted $0.29 EPS. The company’s revenue was up 371.6% on a year-over-year basis. Sandisk has set its Q1 2027 guidance at 44.000-46.000 EPS. On average, equities analysts predict that Sandisk will post 187.16 EPS for the current fiscal year.

Sandisk declared that its Board of Directors has initiated a stock buyback plan on Wednesday, August 5th that allows the company to buyback $14.00 billion in shares. This buyback authorization allows the data storage provider to reacquire up to 6.6% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s board of directors believes its shares are undervalued.

Insider Buying and Selling

In related news, insider Bernard Shek sold 600 shares of the business’s stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $1,162.16, for a total transaction of $697,296.00. Following the completion of the transaction, the insider owned 30,915 shares in the company, valued at $35,928,176.40. The trade was a 1.90% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Alper Ilkbahar sold 2,000 shares of the business’s stock in a transaction on Monday, June 1st. The shares were sold at an average price of $1,756.58, for a total value of $3,513,160.00. Following the transaction, 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 SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 3,800 shares of company stock worth $6,504,856. Insiders own 0.21% of the company’s stock.

Institutional Trading of Sandisk

Several institutional investors and hedge funds have recently made changes to their positions in SNDK. Valley Wealth Managers Inc. bought a new position in shares of Sandisk in the first quarter worth about $25,000. Whittier Trust Co. bought a new stake in Sandisk during the 4th quarter valued at about $26,000. Greenline Wealth Management LLC purchased a new stake in Sandisk in the 4th quarter valued at about $26,000. Chung Wu Investment Group LLC purchased a new stake in Sandisk in the 4th quarter valued at about $27,000. Finally, IMG Wealth Management Inc. bought a new position in Sandisk in the 1st quarter worth about $29,000.

Sandisk News Summary

Here are the key news stories impacting Sandisk this week:

• Positive Sentiment: Memory-sector rally: SanDisk and other memory stocks advanced as signs of deepening supply constraints and stronger pricing reinforced expectations for favorable NAND-market conditions. Memory Stocks Rally Wednesday: SK Hynix, SanDisk, Micron All Jump. Here’s Why
• Positive Sentiment: Argus upgraded SNDK to Buy, adding fresh support to the bullish view and helping reinforce expectations that the sharp pullback may offer an entry point. Sandisk Stock Surges as Argus Upgrades to Buy
• Positive Sentiment: AI demand and customer agreements remain key supports. Management has highlighted multiyear contracts, rising data-center demand and disciplined supply growth, while data-center revenue is reportedly growing more than 400% annually. Sandisk Q4 Earnings Call Centers on AI Demand and Long-Term Deals
• Positive Sentiment: Capital returns could improve. Analysts point to stronger cash generation and growing data-center exposure, while an aggressive $15.5 billion buyback suggests management views the shares as undervalued. Sandisk Buyback Suggests Management Thinks Shares Are Still Cheap
• Neutral Sentiment: Investor day is the next major event. Investors will look for updated long-term targets, supply plans, AI-storage demand commentary and details on capital allocation. The event could either validate the recovery thesis or amplify volatility. SanDisk Investor Day: What to Watch
• Negative Sentiment: Valuation and execution risks remain elevated. SNDK has gained dramatically over the past year despite a 50% decline from its peak, leaving the stock vulnerable to profit-taking if NAND pricing, guidance or investor-day commentary disappoints. SanDisk Stock May Rebound to $2,000 Soon
• Negative Sentiment: SanDisk remains a cyclical memory company. The bullish outlook depends on sustained supply shortages and AI spending; any normalization in supply or weaker-than-expected demand could pressure margins and the stock.

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.