Sandisk (NASDAQ:SNDK) Stock Price Down 6.5% – Time to Sell?

Sandisk Corporation (NASDAQ:SNDK) dropped 6.5% on Monday . The company traded as low as $1,416.56 and last traded at $1,493.12. 13,586,036 shares changed hands during trading, a decline of 17% from the average session volume of 16,410,381 shares. The stock had previously closed at $1,596.08.

Key Stories Impacting Sandisk

Here are the key news stories impacting Sandisk this week:

• Positive Sentiment: AI and NAND demand remain supportive. Recent bullish coverage points to accelerating data-center revenue, multi-year contracts and an AI-driven memory cycle that could provide continued growth and revenue visibility. Optimism around NAND pricing also recently lifted SNDK and other memory stocks. One Reason to Be Bullish on SanDisk Stock
• Positive Sentiment: Mizuho maintained an “outperform” rating. Although the firm reduced its price target to $1,875 from $1,900, the revised target still implies meaningful upside from the reference price, signaling that analysts continue to see long-term value. Analyst Price Target Report
• Neutral Sentiment: Short-interest data provided little trading insight. The report showed zero reported shares sold short and a zero-day days-to-cover ratio, but the figures appear incomplete or erroneous and are unlikely to explain the current move. Short Interest Report
• Negative Sentiment: Memory stocks are under renewed pressure. Reports that Apple could source memory chips from Chinese suppliers raise concerns about pricing and demand for non-Chinese producers. Disappointing capital-return news from Samsung and broader profit-taking after the sector’s rally are adding to the pressure. Memory Stocks Slip Despite Technology Rally
• Negative Sentiment: High volatility and elevated expectations magnify the selloff. SNDK has risen dramatically over the past year, making investors more willing to lock in gains when sector momentum weakens. The stock’s sensitivity to semiconductor sentiment is reflected in its elevated beta and recent sharp swings.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on SNDK. Citigroup reduced their price target on Sandisk from $2,500.00 to $2,100.00 and set a “buy” rating for the company in a research note on Thursday, August 6th. Royal Bank Of Canada boosted their target price on shares of Sandisk from $1,300.00 to $1,600.00 and gave the company a “sector perform” rating in a research report on Friday, August 14th. Morgan Stanley raised their price target on shares of Sandisk from $1,100.00 to $1,750.00 and gave the stock an “overweight” rating in a research report on Wednesday, June 3rd. Mizuho dropped their price objective on shares of Sandisk from $1,900.00 to $1,875.00 and set an “outperform” rating for the company in a research note on Tuesday. Finally, Argus raised shares of Sandisk from a “hold” rating to a “buy” rating in a report on Monday, August 10th. Three research analysts have rated the stock with a Strong Buy rating, twenty have issued a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, Sandisk has a consensus rating of “Buy” and an average target price of $1,998.14.

Sandisk Trading Down 0.8%

The firm has a 50-day moving average of $1,633.05 and a two-hundred day moving average of $1,235.96. The firm has a market capitalization of $216.81 billion, a P/E ratio of 20.31, a P/E/G ratio of 0.15 and a beta of 5.20.

Sandisk (NASDAQ:SNDK) last released its earnings results on Wednesday, August 5th. The data storage provider reported $39.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $33.28 by $5.97. The firm had revenue of $8.96 billion for the quarter. Sandisk had a return on equity of 87.84% and a net margin of 56.47%.The business’s revenue was up 371.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.29 EPS. Sandisk has set its Q1 2027 guidance at 44.000-46.000 EPS. On average, sell-side analysts anticipate that Sandisk Corporation will post 208.92 EPS for the current fiscal year.

Sandisk announced that its board has authorized a share repurchase plan on Wednesday, August 5th that authorizes the company to repurchase $14.00 billion in outstanding shares. This repurchase authorization authorizes the data storage provider to repurchase up to 6.6% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s management believes its stock is undervalued.

Insider Activity at Sandisk

In other Sandisk news, insider Bernard Shek sold 600 shares of the firm’s 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 sale, the insider owned 30,915 shares in the company, valued at $35,928,176.40. This trade represents a 1.90% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, 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 transaction of $3,513,160.00. Following the completion of the sale, the executive vice president owned 52,677 shares in the company, valued at $92,531,364.66. This represents a 3.66% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 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 Investors Weigh In On Sandisk

Several hedge funds have recently modified their holdings of SNDK. Advus Financial Partners LLC bought a new stake in Sandisk during the 2nd quarter worth $275,000. January Capital Advisors LLC boosted its position in Sandisk by 12.4% during the 2nd quarter. January Capital Advisors LLC now owns 1,000 shares of the data storage provider’s stock worth $2,274,000 after buying an additional 110 shares during the period. Tobias Financial Advisors Inc. bought a new position in shares of Sandisk during the second quarter valued at $473,000. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in shares of Sandisk in the second quarter worth $69,940,000. Finally, California State Teachers Retirement System increased its stake in shares of Sandisk by 235,032.6% in the second quarter. California State Teachers Retirement System now owns 380,392,755 shares of the data storage provider’s stock valued at $864,910,419,000 after buying an additional 380,230,977 shares during the period.

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.