Sandisk (NASDAQ:SNDK) Stock Gets Price Target Reduction from Cantor Fitzgerald

Sandisk (NASDAQ:SNDK) had its target price decreased by Cantor Fitzgerald from $2,900.00 to $2,200.00 in a research note issued to investors on Monday morning,Benzinga reports. Cantor Fitzgerald currently has an overweight rating on the data storage provider’s stock.

SNDK has been the topic of a number of other research reports. Raymond James Financial boosted their target price on shares of Sandisk from $1,470.00 to $2,000.00 and gave the stock an “outperform” rating in a research report on Thursday, August 6th. Sanford C. Bernstein reissued an “outperform” rating and issued a $3,000.00 price target (up from $1,700.00) on shares of Sandisk in a report on Thursday, August 6th. Argus raised shares of Sandisk from a “hold” rating to a “buy” rating and set a $1,600.00 price target for the company in a report on Monday, August 10th. Rosenblatt Securities began coverage on shares of Sandisk in a research report on Tuesday, September 22nd. They issued a “buy” rating and a $2,400.00 price target on the stock. Finally, Jefferies Financial Group restated a “buy” rating and set a $1,400.00 price objective (up from $1,000.00) on shares of Sandisk in a report on Thursday, August 6th. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $2,093.73.

Sandisk Stock Up 7.7%

Shares of NASDAQ SNDK opened at $1,404.77 on Monday. The business’s 50 day moving average is $1,571.68 and its two-hundred day moving average is $1,242.27. The company has a market cap of $203.03 billion, a P/E ratio of 19.27, a P/E/G ratio of 0.12 and a beta of 5.23. Sandisk has a 12 month low of $181.51 and a 12 month high of $2,354.39.

Sandisk (NASDAQ:SNDK) last issued its quarterly earnings results on Wednesday, August 5th. The data storage provider reported $39.25 EPS for the quarter, topping analysts’ consensus estimates of $33.28 by $5.97. Sandisk had a return on equity of 87.84% and a net margin of 56.47%. The company had revenue of $8.96 billion during the quarter. During the same quarter last year, the firm earned $0.29 earnings per share. The firm’s quarterly revenue was up 371.6% compared to the same quarter last year. Sandisk has set its Q1 2027 guidance at 44.000-46.000 EPS. Sell-side analysts expect that Sandisk will post 208.94 earnings per share for the current fiscal year.

Sandisk announced that its Board of Directors has authorized a stock buyback program on Wednesday, August 5th that permits the company to buy back $14 billion in outstanding shares. This buyback authorization permits the data storage provider to repurchase up to 6.6% of its stock through open market purchases. Share buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.

Insider Transactions at Sandisk

In related news, insider Bernard Shek sold 600 shares of the firm’s stock in a transaction on Thursday, October 1st. The stock was sold at an average price of $1,734.94, for a total value of $1,040,964.00. Following the completion of the transaction, the insider directly owned 25,588 shares of the company’s stock, valued at $44,393,644.72. This trade represents a 2.29% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO David Goeckeler sold 33,841 shares of Sandisk stock in a transaction on Thursday, September 17th. The stock was sold at an average price of $1,574.21, for a total transaction of $53,272,840.61. Following the sale, the chief executive officer owned 382,865 shares in the company, valued at $602,709,911.65. This represents a 8.12% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders have sold 77,899 shares of company stock valued at $121,159,122. Company insiders own 0.29% of the company’s stock.

Institutional Investors Weigh In On Sandisk

Several institutional investors and hedge funds have recently bought and sold shares of the business. Intrua Financial LLC increased its holdings in shares of Sandisk by 42.6% in the third quarter. Intrua Financial LLC now owns 211 shares of the data storage provider’s stock valued at $367,000 after purchasing an additional 63 shares in the last quarter. Summit Global Investments raised its position in Sandisk by 271.3% in the 3rd quarter. Summit Global Investments now owns 1,192 shares of the data storage provider’s stock worth $2,074,000 after purchasing an additional 871 shares during the last quarter. Gilliland Jeter Wealth Management LLC bought a new position in Sandisk in the 3rd quarter worth approximately $200,000. Americana Partners LLC lifted its holdings in Sandisk by 11.7% during the 3rd quarter. Americana Partners LLC now owns 18,738 shares of the data storage provider’s stock worth $32,601,000 after buying an additional 1,963 shares in the last quarter. Finally, Avestar Capital LLC lifted its holdings in Sandisk by 22.6% during the 3rd quarter. Avestar Capital LLC now owns 1,549 shares of the data storage provider’s stock worth $2,695,000 after buying an additional 286 shares in the last quarter.

More Sandisk News

Here are the key news stories impacting Sandisk this week:

• Positive Sentiment: Strong memory-market read-through: Competitor SK Hynix reported a 632% year-over-year profit surge and pointed to sustained demand for memory chips through 2030. The results helped lift the broader memory group, including Sandisk. SK Hynix results and Sandisk impact
• Positive Sentiment: AI and data-center demand could support results: Analysts expect fiscal Q1 revenue to benefit from AI-driven data-center storage, expanding enterprise SSD demand, rising edge-storage requirements and favorable NAND pricing. Management previously projected approximately 18% sequential revenue growth at the midpoint. Sandisk data-center and edge-storage outlook
• Positive Sentiment: Expectations for another earnings beat: Sandisk has a strong earnings-surprise record, and Zacks says its earnings estimate revisions and operating outlook currently favor a potential beat. Wedbush also maintained a Buy view ahead of the report. Sandisk earnings estimate outlook
• Neutral Sentiment: Investors are weighing a possible bottom: Although SNDK has fallen substantially over the past month and remains well below its high, the latest rebound has prompted speculation that the selloff may be ending. Confirmation will likely depend on Thursday’s results and forward guidance. Sandisk potential bottom analysis
• Negative Sentiment: Valuation and demand risks remain: Cantor Fitzgerald issued a pessimistic forecast, while analysts caution that consumer storage demand is weakening, Sandisk trades at a premium to some peers and substantial capital-expenditure and free-cash-flow requirements could limit upside. Sandisk supply and valuation risks

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.