Sandisk (NASDAQ:SNDK) Stock Jumps 1.9% on Analyst Upgrade

Shares of Sandisk Corporation (NASDAQ:SNDK) shot up 1.9% during mid-day trading on Wednesday after Mizuho raised their price target on the stock from $1,875.00 to $2,050.00. Mizuho currently has an outperform rating on the stock. Sandisk traded as high as $1,733.28 and last traded at $1,692.42. Approximately 9,077,883 shares were traded during mid-day trading, a decline of 41% from the average daily volume of 15,313,944 shares. The stock had previously closed at $1,660.46.

A number of other research analysts have also commented on the company. Wedbush reaffirmed an “outperform” rating and set a $2,000.00 price target on shares of Sandisk in a research report on Friday, August 14th. Citigroup reissued a “buy” rating on shares of Sandisk in a research note on Thursday, October 1st. Raymond James Financial upped their target price on Sandisk from $1,470.00 to $2,000.00 and gave the company an “outperform” rating in a report on Thursday, August 6th. The Goldman Sachs Group reiterated a “buy” rating and issued a $2,200.00 price target (up from $1,200.00) on shares of Sandisk in a report on Thursday, August 13th. Finally, JPMorgan Chase & Co. began coverage on shares of Sandisk in a research report on Friday, August 14th. They set an “overweight” rating and a $2,250.00 price objective on the stock. Two research analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $2,120.65.

Insider Transactions at Sandisk

In other Sandisk news, insider Bernard Shek sold 2,308 shares of the stock in a transaction on Tuesday, September 8th. The stock was sold at an average price of $1,767.33, for a total value of $4,078,997.64. Following the completion of the transaction, the insider owned 25,305 shares in the company, valued at approximately $44,722,285.65. This represents a 8.36% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Alper Ilkbahar sold 4,712 shares of the stock in a transaction on Thursday, September 3rd. The stock was sold at an average price of $1,540.58, for a total value of $7,259,212.96. Following the completion of the transaction, the executive vice president owned 44,134 shares of the company’s stock, valued at approximately $67,991,957.72. This trade represents a 9.65% 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. In the last quarter, insiders have sold 77,899 shares of company stock worth $121,159,122. 0.21% of the stock is owned by company insiders.

Key Stories Impacting Sandisk

Here are the key news stories impacting Sandisk this week:

• Positive Sentiment: Supply constraints support pricing: SanDisk and Micron outperformed a softer technology market as memory manufacturers have secured production through long-term agreements. Tight supply and firm pricing are improving expectations for revenue and margins. SanDisk and Micron Rise as Tight Memory Supply Outruns a Softer Tech Tape
• Positive Sentiment: Mizuho raises target: Mizuho increased its SanDisk price target from $1,875 to $2,050 and maintained an “outperform” rating, citing demand from agentic AI and broader semiconductor strength. The higher target reinforces the bullish outlook, although it also leaves expectations elevated. Mizuho Raises AMD and SanDisk Stock Price Targets
• Positive Sentiment: Contract visibility remains strong: A reported $93.9 billion NBM contract book, customer financial guarantees and growing data-center revenue point to sustained hyperscaler demand. The analysis also highlights substantial free cash flow, supporting confidence in SanDisk’s ability to fund growth and shareholder returns. SanDisk Customer Money Is Keeping Pace With the Contract Boom
• Neutral Sentiment: Analyst debate centers on future upside: Commentary compares SanDisk’s strong performance with Micron’s more diversified memory exposure, including Nvidia-related high-bandwidth-memory opportunities. SanDisk’s growth is viewed as compelling but more dependent on memory pricing. SanDisk and Micron AI Memory Stock Comparison
• Neutral Sentiment: Derivatives activity is notable: Binance reportedly leads trading liquidity for SanDisk perpetual contracts, with OKX and Hyperliquid behind it. This may increase visibility and trading activity but does not directly change the company’s fundamentals. Binance Leads SanDisk Perpetuals Liquidity
• Negative Sentiment: Profit-taking and reporting risk remain: SanDisk and other memory stocks recently weakened in premarket trading after a sharp rally. Analysts cited sell-off risk, elevated expectations and uncertainty ahead of industry earnings, while SanDisk’s reliance on pricing could amplify downside if supply conditions improve. Memory Stocks Extend Premarket Losses

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Dogwood Wealth Management LLC lifted its holdings in shares of Sandisk by 14.3% during the second quarter. Dogwood Wealth Management LLC now owns 48 shares of the data storage provider’s stock valued at $109,000 after purchasing an additional 6 shares in the last quarter. Nilsine Partners LLC increased its holdings in Sandisk by 3.2% in the 2nd quarter. Nilsine Partners LLC now owns 226 shares of the data storage provider’s stock worth $514,000 after buying an additional 7 shares in the last quarter. Insight Wealth Partners LLC raised its position in Sandisk by 0.4% in the 2nd quarter. Insight Wealth Partners LLC now owns 1,607 shares of the data storage provider’s stock worth $3,654,000 after buying an additional 7 shares during the last quarter. Cornerstone Financial Management LLC raised its position in Sandisk by 60.0% in the 2nd quarter. Cornerstone Financial Management LLC now owns 24 shares of the data storage provider’s stock worth $55,000 after buying an additional 9 shares during the last quarter. Finally, Castle Rock Wealth Management LLC lifted its stake in Sandisk by 2.4% during the 2nd quarter. Castle Rock Wealth Management LLC now owns 426 shares of the data storage provider’s stock valued at $969,000 after acquiring an additional 10 shares during the period.

Sandisk Trading Up 1.9%

The company’s 50 day simple moving average is $1,565.54 and its 200-day simple moving average is $1,457.01. The firm has a market cap of $247.80 billion, a P/E ratio of 23.22, a PEG ratio of 0.17 and a beta of 5.23.

Sandisk (NASDAQ:SNDK) last released its quarterly earnings data on Wednesday, August 5th. The data storage provider reported $39.25 earnings per share for the quarter, beating the consensus estimate of $33.28 by $5.97. The firm had revenue of $8.96 billion during the quarter. Sandisk had a net margin of 56.47% and a return on equity of 87.84%. The firm’s revenue for the quarter was up 371.6% on a year-over-year basis. During the same period in the previous year, the firm earned $0.29 earnings per share. Sandisk has set its Q1 2027 guidance at 44.000-46.000 EPS. On average, sell-side analysts anticipate that Sandisk Corporation will post 208.94 earnings per share for the current year.

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

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.