Sandisk (NASDAQ:SNDK) Shares Down 12.6% – Time to Sell?

Sandisk Corporation (NASDAQ:SNDK)’s share price dropped 12.6% during mid-day trading on Monday . The company traded as low as $1,646.17 and last traded at $1,673.97. Approximately 13,626,789 shares changed hands during trading, a decline of 17% from the average session volume of 16,428,531 shares. The stock had previously closed at $1,915.92.

Trending Headlines about Sandisk

Here are the key news stories impacting Sandisk this week:

• Positive Sentiment: Wedbush, Bank of America, Bernstein, and Evercore all raised their price targets on SanDisk, with some targets now as high as $3,000-$3,100, reinforcing the view that the recent drop may have been overdone. SanDisk (SNDK) Stock Surges 5% Following Triple Analyst Upgrade Wave — Cramer Claims Targets Still Conservative
• Positive Sentiment: Analysts continue to point to strong AI memory demand, improving pricing trends, and SanDisk’s ability to benefit from the storage needs tied to AI inference and data-center spending. Wedbush Pounds the Table—Buy Sandisk Before August 5 Earnings
• Positive Sentiment: The stock was also named to a Zacks Rank #1 momentum list and highlighted as a cheap-looking tech name despite its huge year-to-date rally, which may be attracting dip buyers. Best Momentum Stocks to Buy for July 13th
• Neutral Sentiment: Some commentary suggests the stock’s rally may need a pause after its massive run, with investors debating whether most of the easy upside has already been captured. Sandisk: The Rally’s First Act Is Done
• Negative Sentiment: Recent volatility in semiconductors, including a selloff triggered by SK Hynix’s weaker outlook, has continued to weigh on SanDisk shares even as analysts remain constructive. Micron, SanDisk, Western Digital Fall 6% as SK Hynix’s Weak Outlook Rattles Memory Stocks

Analyst Ratings Changes

Several research firms have commented on SNDK. Mizuho boosted their price target on shares of Sandisk from $1,825.00 to $2,200.00 and gave the stock an “outperform” rating in a research note on Monday, June 8th. The Goldman Sachs Group reiterated a “buy” rating and issued a $1,200.00 price objective on shares of Sandisk in a research note on Friday, May 1st. Morgan Stanley lifted their target price on Sandisk from $1,100.00 to $1,750.00 and gave the company an “overweight” rating in a report on Wednesday, June 3rd. Royal Bank Of Canada boosted their target price on Sandisk from $650.00 to $1,000.00 and gave the stock a “sector perform” rating in a research note on Friday, May 1st. Finally, Zacks Research downgraded Sandisk from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 1st. Two investment analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $1,803.29.

Sandisk Price Performance

The stock has a market cap of $260.32 billion, a price-to-earnings ratio of 61.10 and a beta of 4.74. The business’s 50 day moving average is $1,744.88 and its 200 day moving average is $1,022.55.

Sandisk (NASDAQ:SNDK) last posted its quarterly earnings results on Thursday, April 30th. The data storage provider reported $23.41 earnings per share for the quarter, beating analysts’ consensus estimates of $14.17 by $9.24. The company 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 quarterly revenue was up 251.0% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.30) earnings per share. Sandisk has set its Q4 2026 guidance at 30.000-33.000 EPS. As a group, analysts forecast that Sandisk Corporation will post 64.95 earnings per share for the current year.

Insiders Place Their Bets

In other news, CAO Michael Pokorny sold 2,446 shares of the firm’s stock in a transaction dated Tuesday, May 12th. The stock was sold at an average price of $1,426.18, for a total transaction of $3,488,436.28. Following the sale, the chief accounting officer owned 22,375 shares of the company’s stock, valued at approximately $31,910,777.50. This trade represents a 9.85% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Necip Sayiner sold 579 shares of the business’s stock in a transaction that occurred 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 sale, the director owned 2,900 shares of the company’s stock, valued at approximately $4,359,019. The trade was a 16.64% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 6,225 shares of company stock worth $10,166,297. Insiders own 0.21% of the company’s stock.

Institutional Trading of Sandisk

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Trust Asset Management LLC lifted its position in shares of Sandisk by 3.9% during the 2nd quarter. Trust Asset Management LLC now owns 1,611 shares of the data storage provider’s stock worth $3,663,000 after buying an additional 60 shares during the last quarter. Regent Peak Wealth Advisors LLC boosted its holdings in shares of Sandisk by 2.9% in the 2nd quarter. Regent Peak Wealth Advisors LLC now owns 635 shares of the data storage provider’s stock valued at $1,444,000 after buying an additional 18 shares in the last quarter. Ramsey Quantitative Systems purchased a new position in shares of Sandisk in the 2nd quarter valued at $50,000. Tema ETFs LLC grew its position in shares of Sandisk by 10.0% in the 2nd quarter. Tema ETFs LLC now owns 2,649 shares of the data storage provider’s stock valued at $6,023,000 after buying an additional 241 shares during the last quarter. Finally, Nolet Wealth Management LLC acquired a new stake in Sandisk during the 2nd quarter worth $281,000.

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.