Sandisk (NASDAQ:SNDK) Shares Down 8.5% – Here’s What Happened

Sandisk Corporation (NASDAQ:SNDK)’s share price traded down 8.5% on Thursday. The company traded as low as $1,244.60 and last traded at $1,260.93. Approximately 10,138,442 shares traded hands during mid-day trading, a decline of 32% from the average session volume of 14,944,800 shares. The stock had previously closed at $1,378.22.

Trending Headlines about Sandisk

Here are the key news stories impacting Sandisk this week:

• Positive Sentiment: A broader semiconductor recovery lifted memory stocks, with investors buying Micron, SK Hynix and Sandisk after Thursday’s technology-led selloff. The move suggests some fears about AI-related capital expenditures and chip demand may have been overdone. Why are Micron, SK Hynix, and SanDisk stocks climbing on Friday?
• Positive Sentiment: Investor commentary remains constructive ahead of Sandisk’s October 29 earnings report. Analysts and bullish investors point to firm NAND pricing, rising enterprise SSD demand, AI-server storage needs and nearly $94 billion in signed customer contracts as potential catalysts. SanDisk Falters for 3 Months But One Top-Tier Institutional Desk Is Sure It’s Going to Nearly Triple
• Positive Sentiment: Mizuho’s previously reported $2,050 price target and Buy rating reflect expectations for sustained NAND pricing strength and upside from enterprise storage. Other analysis argues that supply shortages could persist through 2028, supporting pricing power and earnings growth. Analyst Lloyd Walmsley Initiates Buy on SanDisk, Targeting $2,050
• Neutral Sentiment: Sandisk is scheduled to report results on October 29. Investors are positioned for potentially strong results and guidance, but the elevated expectations could increase post-earnings volatility. Prediction: Sandisk Stock Will Soar After Oct. 29
• Negative Sentiment: The main overhang is concern that the enormous cost of AI infrastructure could cause hyperscalers to slow capital spending, reducing future demand for memory and storage chips. Sandisk’s extreme volatility and retreat from its recent peak are also prompting profit-taking after its substantial 2026 gains. SanDisk Stock Drops as AI Cost Worries Mount

Analysts Set New Price Targets

SNDK has been the topic of a number of recent analyst reports. Mizuho upped their price target on shares of Sandisk from $1,875.00 to $2,050.00 and gave the company an “outperform” rating in a research note on Tuesday, October 6th. JPMorgan Chase & Co. began coverage on Sandisk in a research report on Friday, August 14th. They set an “overweight” rating and a $2,250.00 price target on the stock. The Goldman Sachs Group reissued a “buy” rating and issued a $2,200.00 price objective (up from $1,200.00) on shares of Sandisk in a report on Thursday, August 13th. China Renaissance boosted their price target on Sandisk from $2,000.00 to $2,250.00 and gave the company a “buy” rating in a report on Wednesday, August 19th. Finally, Susquehanna dropped their price objective on shares of Sandisk from $3,050.00 to $2,745.00 and set a “positive” rating on the stock in a research note on Thursday, August 6th. Three analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $2,120.65.

Sandisk Stock Down 1.8%

The company has a market capitalization of $178.93 billion, a PE ratio of 16.98, a price-to-earnings-growth ratio of 0.13 and a beta of 5.23. The firm has a 50-day moving average of $1,595.43 and a two-hundred day moving average of $1,520.09.

Sandisk (NASDAQ:SNDK) last posted its earnings results 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. Sandisk had a net margin of 56.47% and a return on equity of 87.84%. The firm had revenue of $8.96 billion during the quarter. During the same quarter last year, the business posted $0.29 EPS. The firm’s revenue for the quarter was up 371.6% on a year-over-year basis. Sandisk has set its Q1 2027 guidance at 44.000-46.000 EPS. On average, equities research analysts expect that Sandisk Corporation will post 208.94 EPS for the current year.

Sandisk declared that its board has approved a share repurchase plan on Wednesday, August 5th that allows the company to buy back $14.00 billion in shares. This repurchase authorization allows the data storage provider to buy up to 6.6% of its shares through open market purchases. Stock repurchase plans are generally an indication that the company’s board of directors believes its shares are undervalued.

Insider Activity

In other Sandisk news, CFO Luis Visoso sold 1,000 shares of the firm’s stock in a transaction on Tuesday, September 15th. The stock was sold at an average price of $1,568.83, for a total value of $1,568,830.00. Following the completion of the sale, the chief financial officer owned 130,976 shares of the company’s stock, valued at approximately $205,479,078.08. This trade represents a 0.76% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Alper Ilkbahar sold 4,712 shares of Sandisk 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 transaction, the executive vice president directly owned 44,134 shares of the company’s stock, valued at approximately $67,991,957.72. This represents a 9.65% 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. Over the last quarter, insiders sold 77,899 shares of company stock valued at $121,159,122. 0.29% of the stock is owned by corporate insiders.

Institutional Trading of Sandisk

Hedge funds have recently bought and sold shares of the company. Hilton Head Capital Partners LLC raised its position in shares of Sandisk by 650.0% in the 3rd quarter. Hilton Head Capital Partners LLC now owns 15 shares of the data storage provider’s stock worth $26,000 after buying an additional 13 shares during the period. Sigma Planning Corp grew its position in Sandisk by 41.2% in the third quarter. Sigma Planning Corp now owns 1,756 shares of the data storage provider’s stock valued at $3,055,000 after acquiring an additional 512 shares in the last quarter. Brandywine Oak Private Wealth LLC lifted its holdings in Sandisk by 15.1% in the 3rd quarter. Brandywine Oak Private Wealth LLC now owns 191 shares of the data storage provider’s stock worth $332,000 after buying an additional 25 shares in the last quarter. Brucke Financial Inc. purchased a new stake in shares of Sandisk during the third quarter worth about $240,000. Finally, Signaturefd LLC increased its holdings in Sandisk by 6.5% during the 3rd quarter. Signaturefd LLC now owns 3,046 shares of the data storage provider’s stock worth $5,300,000 after purchasing an additional 187 shares during the last quarter.

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.