Sandisk (NASDAQ:SNDK) Sets New 52-Week High – What’s Next?

Sandisk Corporation (NASDAQ:SNDK)’s stock price reached a new 52-week high during trading on Thursday . The stock traded as high as $1,863.96 and last traded at $1,879.9580, with a volume of 10345726 shares. The stock had previously closed at $1,643.23.

Key Headlines Impacting Sandisk

Here are the key news stories impacting Sandisk this week:

• Positive Sentiment: SanDisk shares rose as memory stocks rebounded, with investors encouraged by SK Hynix’s capacity plan, which lifted sentiment across the NAND and storage group. SanDisk Jumps 14%, Western Digital Climbs 6% as Memory Stocks Rebound on SK Hynix’s Capacity Plan
• Positive Sentiment: Wall Street analysts have grown more optimistic on Sandisk, including BofA raising its price target to $2,100 and keeping a Buy rating, which supports the stock’s momentum. BofA Raises SanDisk (SNDK) Price Target to $2,100, Keeps Buy Rating
• Positive Sentiment: Analysts also highlighted Sandisk’s new business model, which has secured $42 billion in revenue commitments and could reduce earnings volatility tied to NAND pricing swings. Can SNDK’s New Business Models Reduce Dependence on NAND Volatility?

Analysts Set New Price Targets

SNDK has been the subject of several research reports. Arete Research upgraded Sandisk from a “hold” rating to a “strong-buy” rating in a research note on Monday, April 13th. Bank of America boosted their target price on Sandisk from $1,550.00 to $2,100.00 and gave the stock a “buy” rating in a report on Monday. Wells Fargo & Company upped their price objective on Sandisk from $975.00 to $1,250.00 and gave the company an “equal weight” rating in a report on Friday, May 1st. UBS Group set a $1,700.00 price objective on Sandisk in a report on Monday, May 4th. Finally, Wedbush upped their price objective on Sandisk from $740.00 to $1,200.00 and gave the company an “outperform” rating in a report on Wednesday, April 29th. Three investment analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $1,580.67.

Sandisk Stock Up 14.6%

The business has a 50-day moving average price of $1,237.43 and a two-hundred day moving average price of $728.74. The firm has a market cap of $278.78 billion, a PE ratio of 65.49 and a beta of 4.87.

Sandisk (NASDAQ:SNDK) last posted its quarterly earnings data on Thursday, April 30th. The data storage provider reported $23.41 earnings per share for the quarter, topping analysts’ consensus estimates of $14.17 by $9.24. The business had revenue of $5.95 billion for the quarter. Sandisk had a return on equity of 44.06% and a net margin of 34.19%.The firm’s revenue was up 251.0% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.30) EPS. Sandisk has set its Q4 2026 guidance at 30.000-33.000 EPS. On average, equities research analysts predict that Sandisk Corporation will post 64.01 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Necip Sayiner sold 579 shares of the stock in a transaction on Friday, May 8th. The stock was sold at an average price of $1,503.11, for a total value of $870,300.69. Following the transaction, the director owned 2,900 shares of the company’s stock, valued at $4,359,019. This represents a 16.64% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Bernard Shek sold 600 shares of the stock in a transaction on Wednesday, June 3rd. The shares were sold at an average price of $1,736.00, for a total value of $1,041,600.00. Following the completion of the transaction, the insider directly owned 32,232 shares in the company, valued at $55,954,752. This trade represents a 1.83% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 5,625 shares of company stock worth $8,913,497. 0.21% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Sandisk

Large investors have recently bought and sold shares of the stock. Allworth Financial LP boosted its stake in Sandisk by 84.2% in the fourth quarter. Allworth Financial LP now owns 4,521 shares of the data storage provider’s stock valued at $1,073,000 after acquiring an additional 2,067 shares in the last quarter. Tredje AP fonden acquired a new position in Sandisk in the fourth quarter valued at $7,821,000. ProShare Advisors LLC boosted its stake in shares of Sandisk by 1,301.5% during the fourth quarter. ProShare Advisors LLC now owns 33,637 shares of the data storage provider’s stock worth $7,985,000 after buying an additional 31,237 shares during the period. FourThought Financial Partners LLC acquired a new stake in shares of Sandisk during the fourth quarter worth about $422,000. Finally, North Dakota State Investment Board acquired a new stake in shares of Sandisk during the fourth quarter worth about $1,127,000.

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.