Sandisk (NASDAQ:SNDK) Shares Gap Down – Should You Sell?

Shares of Sandisk Corporation (NASDAQ:SNDK) gapped down prior to trading on Friday . The stock had previously closed at $241.61, but opened at $232.11. Sandisk shares last traded at $213.17, with a volume of 3,959,991 shares changing hands.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on SNDK shares. The Goldman Sachs Group increased their target price on Sandisk from $55.00 to $140.00 and gave the stock a “buy” rating in a report on Thursday, October 9th. JPMorgan Chase & Co. initiated coverage on Sandisk in a report on Monday. They set a “neutral” rating and a $235.00 price objective for the company. Fox Advisors raised shares of Sandisk from a “hold” rating to a “strong-buy” rating in a report on Friday, November 7th. Benchmark lifted their price target on shares of Sandisk from $125.00 to $260.00 and gave the company a “buy” rating in a report on Friday, November 7th. Finally, Bank of America boosted their target price on Sandisk from $270.00 to $300.00 and gave the stock a “buy” rating in a report on Thursday, November 20th. Three analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Sandisk presently has a consensus rating of “Moderate Buy” and an average target price of $213.33.

Sandisk Price Performance

The company has a current ratio of 3.29, a quick ratio of 2.03 and a debt-to-equity ratio of 0.14. The stock has a market capitalization of $31.01 billion and a P/E ratio of 661.25. The company has a fifty day simple moving average of $195.98 and a two-hundred day simple moving average of $103.52.

Sandisk (NASDAQ:SNDK) last issued its quarterly earnings results on Thursday, November 6th. The data storage provider reported $1.22 EPS for the quarter, topping the consensus estimate of $0.58 by $0.64. The business had revenue of $2.31 billion for the quarter, compared to analyst estimates of $2.12 billion. The company’s revenue for the quarter was up 22.6% on a year-over-year basis. Sandisk has set its Q2 2026 guidance at 3.000-3.40 EPS.

Insider Buying and Selling at Sandisk

In other news, Director Necip Sayiner sold 1,271 shares of the firm’s stock in a transaction on Wednesday, December 3rd. The stock was sold at an average price of $195.14, for a total value of $248,022.94. Following the transaction, the director directly owned 3,479 shares in the company, valued at $678,892.06. This trade represents a 26.76% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.21% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Sandisk

Several hedge funds have recently added to or reduced their stakes in the stock. Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in shares of Sandisk in the 3rd quarter valued at about $27,000. CVA Family Office LLC bought a new stake in Sandisk in the third quarter valued at approximately $28,000. Parallel Advisors LLC bought a new stake in Sandisk in the third quarter valued at approximately $30,000. Northwestern Mutual Wealth Management Co. acquired a new stake in Sandisk in the third quarter worth $32,000. Finally, Covestor Ltd acquired a new stake in Sandisk in the third quarter worth $37,000.

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.