Sandisk (NASDAQ:SNDK) Sets New 52-Week High – Should You Buy?

Sandisk Corporation (NASDAQ:SNDK)’s stock price reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $1,632.93 and last traded at $1,614.28, with a volume of 5179108 shares trading hands. The stock had previously closed at $1,478.69.

Key Headlines Impacting Sandisk

Here are the key news stories impacting Sandisk this week:

• Positive Sentiment: Reports say Sandisk is benefiting from an AI storage supercycle, with server-memory prices surging and sentiment improving across the memory-chip sector. SanDisk Rides AI Storage Supercycle As Memory Prices Enter ‘New Normal’
• Positive Sentiment: Analyst and media coverage points to strong momentum in memory stocks, with Sandisk named as a major beneficiary of the broader AI-driven rally. Scorching runs for memory chip stocks like Micron and Sandisk have sent this new ETF soaring
• Positive Sentiment: Tuesday’s rally was reinforced by commentary that Sandisk may still have room to run after a sharp move higher, suggesting momentum traders remain active. Is SanDisk Stock (SNDK) Still Worth Buying After Today’s Rally?

Wall Street Analyst Weigh In

Several research firms have recently issued reports on SNDK. Zacks Research raised Sandisk from a “hold” rating to a “strong-buy” rating in a research note on Friday, February 20th. Wedbush raised their price objective on Sandisk from $740.00 to $1,200.00 and gave the company an “outperform” rating in a research note on Wednesday, April 29th. KGI Securities began coverage on Sandisk in a research note on Wednesday, March 18th. They issued an “outperform” rating and a $992.00 price objective for the company. Sanford C. Bernstein raised their price objective on Sandisk from $1,250.00 to $1,700.00 and gave the company an “outperform” rating in a research note on Monday, May 4th. Finally, Jefferies Financial Group reaffirmed a “buy” rating and issued a $1,400.00 price objective on shares of Sandisk in a research note on Friday, May 1st. Three analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $1,157.14.

Sandisk Trading Up 8.8%

The stock has a market capitalization of $238.31 billion, a P/E ratio of 55.94 and a beta of 4.82. The stock has a 50 day moving average of $999.79 and a 200-day moving average of $608.04.

Sandisk (NASDAQ:SNDK) last issued its quarterly earnings results on Thursday, April 30th. The data storage provider reported $23.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $14.17 by $9.24. Sandisk had a return on equity of 44.06% and a net margin of 34.19%.The firm had revenue of $5.95 billion during the quarter. During the same period in the prior year, the business posted ($0.30) earnings per share. Sandisk’s revenue was up 251.0% on a year-over-year basis. Sandisk has set its Q4 2026 guidance at 30.000-33.000 EPS. Research analysts anticipate that Sandisk Corporation will post 63.58 EPS for the current year.

Insider Buying and Selling

In related news, Director Necip Sayiner sold 579 shares of the firm’s stock in a transaction that occurred on 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 completion of the sale, the director directly owned 2,900 shares of the company’s stock, valued at approximately $4,359,019. This trade represents a 16.64% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Michael Pokorny sold 2,446 shares of the firm’s stock in a transaction that occurred on Tuesday, May 12th. The stock was sold at an average price of $1,426.18, for a total value of $3,488,436.28. Following the sale, the chief accounting officer directly owned 22,375 shares of the company’s stock, valued at $31,910,777.50. This represents a 9.85% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 6,525 shares of company stock valued at $6,555,092. Insiders own 0.21% of the company’s stock.

Institutional Investors Weigh In On Sandisk

A number of institutional investors and hedge funds have recently modified their holdings of SNDK. GHP Investment Advisors Inc. raised its position in Sandisk by 12.0% during the 1st quarter. GHP Investment Advisors Inc. now owns 121 shares of the data storage provider’s stock valued at $77,000 after purchasing an additional 13 shares in the last quarter. Blair William & Co. IL raised its position in Sandisk by 0.3% during the 4th quarter. Blair William & Co. IL now owns 5,287 shares of the data storage provider’s stock valued at $1,255,000 after purchasing an additional 17 shares in the last quarter. Empirical Finance LLC raised its position in Sandisk by 0.7% during the 1st quarter. Empirical Finance LLC now owns 3,535 shares of the data storage provider’s stock valued at $2,246,000 after purchasing an additional 24 shares in the last quarter. SOA Wealth Advisors LLC. raised its position in Sandisk by 108.0% during the 1st quarter. SOA Wealth Advisors LLC. now owns 52 shares of the data storage provider’s stock valued at $33,000 after purchasing an additional 27 shares in the last quarter. Finally, Larson Financial Group LLC raised its position in Sandisk by 20.2% during the 4th quarter. Larson Financial Group LLC now owns 220 shares of the data storage provider’s stock valued at $52,000 after purchasing an additional 37 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.