Brokerages Set Sandisk Corporation (NASDAQ:SNDK) PT at $1,999.27

Sandisk Corporation (NASDAQ:SNDK) has earned an average rating of “Buy” from the twenty-six research firms that are currently covering the firm, Marketbeat reports. Three research analysts have rated the stock with a hold rating, twenty have assigned a buy rating and three have issued a strong buy rating on the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $1,998.1364.

A number of brokerages have recently weighed in on SNDK. Cantor Fitzgerald reiterated an “overweight” rating and set a $2,900.00 price target on shares of Sandisk in a report on Monday, August 10th. Mizuho reduced their price objective on Sandisk from $1,900.00 to $1,875.00 and set an “outperform” rating for the company in a research note on Tuesday. Weiss Ratings lowered Sandisk from a “hold (c+)” rating to a “hold (c)” rating in a research report on Friday, August 14th. Sanford C. Bernstein reaffirmed an “outperform” rating on shares of Sandisk in a research note on Thursday, August 6th. Finally, The Goldman Sachs Group reiterated a “buy” rating and issued a $2,200.00 target price on shares of Sandisk in a report on Thursday, August 13th.

Sandisk Stock Performance

Sandisk stock opened at $1,484.98 on Friday. The company has a 50 day moving average price of $1,595.87 and a 200 day moving average price of $1,250.36. Sandisk has a 52 week low of $50.07 and a 52 week high of $2,354.39. The firm has a market capitalization of $217.43 billion, a price-to-earnings ratio of 20.37, a P/E/G 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 the consensus estimate of $33.28 by $5.97. Sandisk had a net margin of 56.47% and a return on equity of 87.84%. The company had revenue of $8.96 billion for the quarter. During the same period last year, the firm earned $0.29 earnings per share. Sandisk’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. Equities analysts forecast that Sandisk will post 208.92 earnings per share for the current fiscal year.

Sandisk declared that its Board of Directors has approved a share buyback plan on Wednesday, August 5th that authorizes the company to buyback $14.00 billion in outstanding shares. This buyback authorization authorizes the data storage provider to repurchase up to 6.6% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s board believes its stock is undervalued.

Key Stories Impacting Sandisk

Here are the key news stories impacting Sandisk this week:

• Positive Sentiment: Major Japan investment supports long-term growth: Sandisk and Kioxia plan to invest more than $31 billion in Japan through 2032, subject to government support, to expand flash-memory production. The spending is intended to address tight supply caused by accelerating AI and data-center demand, while strengthening Sandisk’s long-standing joint venture with Kioxia. Kioxia and Sandisk to Invest Over $31 Billion in Japan
• Positive Sentiment: AI demand remains a powerful industry tailwind: Nvidia’s strong quarterly results and outlook reinforced expectations for sustained spending on AI infrastructure, potentially lifting demand for Sandisk’s NAND flash and enterprise solid-state drives. Analysts also point to pricing strength, constrained supply and multiyear agreements as drivers of near-term growth. Memory and Storage Giants to Gain Amid Nvidia’s Results
• Positive Sentiment: Recent operating performance provides support: Sandisk’s latest quarterly results exceeded expectations, with earnings per share of $39.25 versus the $33.28 consensus and revenue up 371.6% year over year. Its guidance for fiscal 2027 also reflects continued confidence in demand.
• Neutral Sentiment: Long-term opportunity is substantial but execution-dependent: Comparisons with Nvidia’s earlier AI-driven growth phase highlight Sandisk’s data-center potential, but the stock has already gained dramatically, increasing sensitivity to earnings expectations and future supply-demand conditions. Has Sandisk Already Had Its Nvidia Moment?
• Negative Sentiment: Profit-taking is weighing on memory stocks: Investors have been locking in gains after the sector’s sharp rally, causing Sandisk and peers to move lower even after Nvidia’s favorable report. Why Is Sandisk Stock Up on Friday?
• Negative Sentiment: Valuation and policy risks remain concerns: Analysts have flagged the elevated valuation following Sandisk’s extraordinary run, while possible U.S. trade or export-policy changes could create uncertainty for semiconductor suppliers. Mizuho has also lowered its expectations for the stock. Why Memory Stocks Are Sliding

Insider Buying and Selling

In other Sandisk news, insider Bernard Shek sold 600 shares of the stock in a transaction that occurred on Monday, August 3rd. The shares were sold at an average price of $1,162.16, for a total value of $697,296.00. Following the completion of the sale, the insider owned 30,915 shares in the company, valued at $35,928,176.40. This represents a 1.90% decrease in their position. The transaction was disclosed in a 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 company’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 in the company, valued at $92,531,364.66. This trade represents a 3.66% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 3,800 shares of company stock worth $6,504,856 over the last ninety days. 0.21% of the stock is currently owned by insiders.

Institutional Trading of Sandisk

A number of institutional investors have recently bought and sold shares of SNDK. California State Teachers Retirement System increased its position in Sandisk by 235,032.6% in the 2nd quarter. California State Teachers Retirement System now owns 380,392,755 shares of the data storage provider’s stock worth $864,910,419,000 after purchasing an additional 380,230,977 shares during the last quarter. BlackRock Inc. acquired a new stake in shares of Sandisk during the 2nd quarter valued at about $23,408,732,000. State Street Corp grew its stake in shares of Sandisk by 20.7% in 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 buying an additional 904,933 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of Sandisk by 44.9% in the 4th quarter. Geode Capital Management LLC now owns 3,655,860 shares of the data storage provider’s stock valued at $866,310,000 after buying an additional 1,133,276 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership grew its stake in shares of Sandisk by 31.3% in the 4th 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 in the last quarter.

About Sandisk

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.