Sandisk (NASDAQ:SNDK) Given Outperform Rating at Wedbush

Wedbush restated their outperform rating on shares of Sandisk (NASDAQ:SNDK) in a research report released on Friday morning,Benzinga reports. The firm currently has a $2,000.00 target price on the data storage provider’s stock.

SNDK has been the topic of several other research reports. Susquehanna cut their price objective on Sandisk from $3,250.00 to $3,050.00 and set a “positive” rating on the stock in a report on Thursday, July 23rd. Raymond James Financial restated an “outperform” rating and set a $1,470.00 target price on shares of Sandisk in a report on Friday, May 1st. Argus upgraded shares of Sandisk from a “hold” rating to a “buy” rating in a research note on Monday, August 10th. Zacks Research raised shares of Sandisk from a “hold” rating to a “strong-buy” rating in a research report on Thursday, July 30th. Finally, Melius Research set a $2,350.00 price target on shares of Sandisk in a research report on Monday, May 18th. Three equities research analysts have rated the stock with a Strong Buy rating, twenty have issued a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Sandisk presently has an average rating of “Buy” and an average price target of $1,999.27.

Sandisk Stock Performance

NASDAQ:SNDK opened at $1,641.11 on Friday. Sandisk has a fifty-two week low of $42.82 and a fifty-two week high of $2,354.39. The company has a 50 day moving average price of $1,667.87 and a 200 day moving average price of $1,181.08. The stock has a market capitalization of $243.03 billion, a P/E ratio of 22.51, a PEG ratio of 0.15 and a beta of 5.20.

Sandisk (NASDAQ:SNDK) last announced its earnings results on Wednesday, August 5th. The data storage provider reported $39.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 for the quarter. During the same period in the previous year, the firm earned $0.29 EPS. The firm’s revenue for the quarter was up 371.6% compared to the same quarter last year. Sandisk has set its Q1 2027 guidance at 44.000-46.000 EPS. Research analysts forecast that Sandisk will post 208.92 earnings per share for the current fiscal year.

Sandisk announced that its Board of Directors has initiated a stock repurchase plan on Wednesday, August 5th that authorizes the company to repurchase $14.00 billion in outstanding shares. This repurchase authorization authorizes the data storage provider to repurchase up to 6.6% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s management believes its shares are undervalued.

Insiders Place Their Bets

In related news, EVP Alper Ilkbahar sold 2,000 shares of the business’s stock in a transaction on Monday, June 1st. The stock was sold at an average price of $1,756.58, for a total transaction of $3,513,160.00. Following the completion of the transaction, the executive vice president directly owned 52,677 shares of the company’s stock, valued at $92,531,364.66. The trade was a 3.66% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Bernard Shek sold 600 shares of the company’s stock in a transaction dated Monday, August 3rd. The stock was sold at an average price of $1,162.16, for a total value of $697,296.00. Following the sale, the insider owned 30,915 shares in the company, valued at approximately $35,928,176.40. This trade represents a 1.90% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 3,800 shares of company stock valued at $6,504,856. 0.21% of the stock is currently owned by company insiders.

Institutional Trading of Sandisk

A number of large investors have recently made changes to their positions in the company. Dunhill Financial LLC acquired a new stake in shares of Sandisk in the 2nd quarter valued at $30,000. Mowery & Schoenfeld Wealth Management LLC acquired a new position in shares of Sandisk during the second quarter worth $32,000. Kilter Group LLC acquired a new position in shares of Sandisk during the second quarter worth $32,000. KERR FINANCIAL PLANNING Corp acquired a new position in shares of Sandisk during the second quarter worth $34,000. Finally, Ramsey Quantitative Systems purchased a new position in Sandisk in the second quarter valued at $50,000.

Sandisk News Roundup

Here are the key news stories impacting Sandisk this week:

• Positive Sentiment: Sandisk outlined an ambitious long-term financial model, including approximately 80% gross margins, 75% operating margins, 50% free-cash-flow margins and mid-to-high-teens revenue growth through the end of the decade. Management also highlighted long-term customer agreements intended to reduce exposure to the traditional memory boom-and-bust cycle. SanDisk Surges 55% From its July Low: Wall Street Just Got a New Roadmap
• Positive Sentiment: J.P. Morgan began coverage with an Overweight rating and a $2,250 price target, while Wedbush reaffirmed Outperform with a $2,000 target. Evercore ISI also maintained its Buy rating and $2,800 target. The recommendations reinforce expectations for additional earnings growth and potential shareholder returns. Sandisk Stock Tops the S&P 500 as Analysts Rally Behind Its AI Expansion
• Positive Sentiment: Analysts are raising earnings estimates following strong quarterly results and the Investor Day presentation. The company’s latest quarter significantly exceeded consensus expectations, while AI data-center demand and new flash-storage products are viewed as key growth catalysts.
• Positive Sentiment: Broader market conditions also helped: softer inflation data reduced expectations for a September Federal Reserve rate hike, supporting technology and semiconductor stocks. A strong sector-wide memory rally amplified buying in SNDK.

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.