Sandisk (NASDAQ:SNDK) Shares Down 3.4% – Here’s What Happened

Shares of Sandisk Corporation (NASDAQ:SNDK) fell 3.4% during mid-day trading on Wednesday . The stock traded as low as $205.40 and last traded at $213.06. 4,365,866 shares were traded during trading, a decline of 19% from the average session volume of 5,376,757 shares. The stock had previously closed at $220.50.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. Zacks Research raised Sandisk from a “hold” rating to a “strong-buy” rating in a research report on Friday, November 14th. Sanford C. Bernstein upgraded Sandisk to a “strong-buy” rating in a research note on Tuesday, September 16th. Susquehanna boosted their target price on Sandisk from $65.00 to $250.00 and gave the stock a “positive” rating in a report on Friday, November 7th. Morgan Stanley raised their price target on Sandisk from $263.00 to $273.00 and gave the company an “overweight” rating in a report on Monday. Finally, Fox Advisors raised Sandisk from a “hold” rating to a “strong-buy” rating in a research report on Friday, November 7th. Three analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Sandisk currently has a consensus rating of “Moderate Buy” and a consensus price target of $193.88.

Sandisk Trading Down 2.5%

The firm has a market capitalization of $31.51 billion and a PE ratio of 672.00. The firm has a 50 day simple moving average of $173.30 and a 200 day simple moving average of $91.06. The company has a current ratio of 3.29, a quick ratio of 2.03 and a debt-to-equity ratio of 0.14.

Sandisk (NASDAQ:SNDK) last posted its quarterly earnings results on Thursday, November 6th. The data storage provider reported $1.22 earnings per share for the quarter, topping the consensus estimate of $0.58 by $0.64. The business had revenue of $2.31 billion during the quarter, compared to analysts’ expectations of $2.12 billion. The business’s quarterly revenue was up 22.6% compared to the same quarter last year. Sandisk has set its Q2 2026 guidance at 3.000-3.40 EPS.

Institutional Trading of Sandisk

A number of institutional investors have recently made changes to their positions in SNDK. CIBC Private Wealth Group LLC bought a new stake in shares of Sandisk in the third quarter worth approximately $159,000. WBI Investments LLC purchased a new stake in Sandisk in the third quarter worth approximately $448,000. Caerus Investment Advisors LLC purchased a new stake in Sandisk in the third quarter worth approximately $308,000. Captrust Financial Advisors bought a new stake in Sandisk in the 3rd quarter worth approximately $1,542,000. Finally, Coldstream Capital Management Inc. purchased a new stake in Sandisk during the 3rd quarter valued at $247,000.

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.