Sandisk (NASDAQ:SNDK) Stock Price Down 1.6% – Should You Sell?

Shares of Sandisk Corporation (NASDAQ:SNDK) were down 1.6% during mid-day trading on Wednesday . The stock traded as low as $1,938.00 and last traded at $1,958.80. 9,033,244 shares traded hands during mid-day trading, a decline of 47% from the average session volume of 16,968,268 shares. The stock had previously closed at $1,991.55.

Trending Headlines about Sandisk

Here are the key news stories impacting Sandisk this week:

• Positive Sentiment: Apple’s warning about unavoidable memory price hikes has strengthened the market’s view that SNDK can continue benefiting from scarce supply and stronger pricing. Why Is SanDisk Stock Surging On Thursday?
• Positive Sentiment: Broader memory-stock strength, including Micron hitting record highs, suggests investors are rotating into the entire storage cycle and viewing SNDK as a key beneficiary. MU hits record high, SNDK jumps nearly 12% — what’s behind the memory stock rally?
• Positive Sentiment: Several bullish research and commentary pieces argue Sandisk remains underappreciated, citing AI data-center demand, strong free cash flow, and earnings upside that could support further gains. Sandisk: The Market Is Underestimating Its FY 2027 Earnings Power
• Neutral Sentiment: Some market-watch pieces frame SNDK as extremely stretched after a huge rally, which raises volatility and the risk of sharp pullbacks even though the trend remains strong. Take Profits Now. Famous Chart Technician Says SanDisk is The “Most Overbought Stock Ever”
• Negative Sentiment: Technical warnings and “take profits” calls may encourage some traders to lock in gains after the stock’s rapid run-up, potentially limiting upside in the near term. Sandisk: Easy Money Has Been Made, Can’t Go Broke Taking Some Profits (Rating Downgrade)

Analysts Set New Price Targets

A number of brokerages recently commented on SNDK. Jefferies Financial Group reiterated a “buy” rating and set a $1,400.00 price target on shares of Sandisk in a report on Friday, May 1st. Cantor Fitzgerald upped their price objective on Sandisk from $1,800.00 to $2,900.00 and gave the company an “overweight” rating in a research note on Monday, June 8th. Barclays raised Sandisk from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $1,200.00 to $2,300.00 in a research report on Tuesday, May 26th. Susquehanna lifted their target price on Sandisk from $2,000.00 to $3,250.00 and gave the stock a “positive” rating in a research note on Friday, May 29th. Finally, UBS Group set a $1,700.00 target price on Sandisk in a research note on Monday, May 4th. Three analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $1,580.67.

Sandisk Stock Performance

The firm has a market capitalization of $323.54 billion, a P/E ratio of 75.94 and a beta of 4.87. The business has a 50 day simple moving average of $1,396.19 and a two-hundred day simple moving average of $804.83.

Sandisk (NASDAQ:SNDK) last released its quarterly earnings results on Thursday, April 30th. The data storage provider reported $23.41 earnings per share for the quarter, beating the consensus estimate of $14.17 by $9.24. The firm 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 business’s revenue was up 251.0% on a year-over-year basis. During the same period in the previous year, the business earned ($0.30) EPS. Sandisk has set its Q4 2026 guidance at 30.000-33.000 EPS. On average, equities analysts anticipate that Sandisk Corporation will post 64.01 earnings per share for the current fiscal year.

Insider Activity at Sandisk

In related news, EVP Alper Ilkbahar sold 2,000 shares of the firm’s stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $1,756.58, for a total value of $3,513,160.00. Following the sale, the executive vice president directly owned 52,677 shares of the company’s stock, valued at $92,531,364.66. This trade represents a 3.66% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Bernard Shek sold 600 shares of Sandisk stock in a transaction that occurred on Wednesday, June 3rd. The shares were sold at an average price of $1,736.00, for a total transaction of $1,041,600.00. Following the sale, the insider owned 32,232 shares of the company’s stock, valued at approximately $55,954,752. The trade was a 1.83% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 5,625 shares of company stock valued at $8,913,497 in the last ninety days. 0.21% of the stock is currently owned by company insiders.

Institutional Trading of Sandisk

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. bought a new position in Sandisk in the third quarter valued at $1,970,388,000. State Street Corp bought a new stake in Sandisk during the third quarter worth about $491,053,000. Arrowstreet Capital Limited Partnership bought a new stake in Sandisk during the third quarter worth about $297,293,000. Norges Bank purchased a new position in shares of Sandisk in the 4th quarter worth about $518,889,000. Finally, Bank of America Corp DE purchased a new position in shares of Sandisk in the 3rd quarter worth about $190,425,000.

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. It offers SSDs for client computing applications, which encompass desktop computers, notebook computers, tablets and other computing devices.