Sandisk (NASDAQ:SNDK) Shares Up 5.2% – Should You Buy?

Sandisk Corporation (NASDAQ:SNDK) shares shot up 5.2% during trading on Friday . The stock traded as high as $2,021.65 and last traded at $1,980.10. 11,637,723 shares traded hands during mid-day trading, a decline of 32% from the average session volume of 17,171,945 shares. The stock had previously closed at $1,881.51.

Sandisk News Summary

Here are the key news stories impacting Sandisk this week:

• Positive Sentiment: Bank of America raised its price target on Sandisk to $2,100 and kept a Buy rating, signaling confidence that the AI memory demand trend still has room to run. SanDisk Stock’s 5,000% Rally Hasn’t Stopped This Analyst: Is $2,100 Next?
• Positive Sentiment: Another analyst update also boosted sentiment, with BofA’s Wamsi Mohan reportedly lifting his target to $2,100 on the view that Sandisk remains well positioned in the memory market. This Analyst Just Upped the Price Target on SanDisk Stock. Here’s Why.
• Positive Sentiment: Shares also rose on a broader rebound in memory stocks after SK Hynix’s capacity plan lifted optimism around supply-demand balance in the sector. SanDisk Jumps 14%, Western Digital Climbs 6% as Memory Stocks Rebound on SK Hynix’s Capacity Plan
• Positive Sentiment: Market commentary continues to frame SNDK as an AI growth winner, with traders and analysts highlighting strong memory demand and expanding AI infrastructure exposure. SanDisk Stock (SNDK) Is Up 692% YTD. AI Analyst Raises Price Target and Still Sees More Upside Ahead
• Neutral Sentiment: Some media coverage is focused mainly on the stock’s extraordinary year-to-date surge and valuation, which may keep investor attention high but does not add a new operational catalyst. SanDisk skyrockets over 692% YTD, yet SNDK stock still appears reasonably valued

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. Bank of America boosted their price target on Sandisk from $1,550.00 to $2,100.00 and gave the company a “buy” rating in a report on Monday, June 8th. Royal Bank Of Canada boosted their price target on Sandisk from $650.00 to $1,000.00 and gave the company a “sector perform” rating in a report on Friday, May 1st. Arete Research upgraded Sandisk from a “hold” rating to a “strong-buy” rating in a report on Monday, April 13th. Cantor Fitzgerald boosted their price target on Sandisk from $1,800.00 to $2,900.00 and gave the company an “overweight” rating in a report on Monday, June 8th. Finally, KGI Securities assumed coverage on Sandisk in a report on Wednesday, March 18th. They set an “outperform” rating and a $992.00 price target on the stock. Three equities research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $1,580.67.

Sandisk Trading Up 5.2%

The business has a fifty day moving average of $1,288.10 and a 200-day moving average of $749.25. The company has a market cap of $293.23 billion, a PE ratio of 68.83 and a beta of 4.87.

Sandisk (NASDAQ:SNDK) last posted its quarterly earnings data on Thursday, April 30th. The data storage provider reported $23.41 earnings per share for the quarter, beating the consensus estimate of $14.17 by $9.24. The business 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 business’s revenue was up 251.0% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.30) earnings per share. Sandisk has set its Q4 2026 guidance at 30.000-33.000 EPS. As a group, research analysts predict that Sandisk Corporation will post 64.01 EPS for the current year.

Insider Transactions at Sandisk

In other Sandisk news, EVP Alper Ilkbahar sold 2,000 shares of Sandisk stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $1,756.58, for a total transaction of $3,513,160.00. Following the sale, the executive vice president directly owned 52,677 shares of the company’s stock, valued at approximately $92,531,364.66. The trade was a 3.66% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Michael Pokorny sold 2,446 shares of Sandisk stock in a transaction that occurred on Tuesday, May 12th. The shares were sold at an average price of $1,426.18, for a total value of $3,488,436.28. Following the sale, the chief accounting officer directly owned 22,375 shares in the company, valued at approximately $31,910,777.50. The trade was a 9.85% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 5,625 shares of company stock valued at $8,913,497. Insiders own 0.21% of the company’s stock.

Institutional Trading of Sandisk

Several large investors have recently bought and sold shares of the company. Vanguard Group Inc. bought a new stake in Sandisk during the 3rd quarter valued at approximately $1,970,388,000. State Street Corp boosted its position in shares of Sandisk by 20.7% in the 4th quarter. State Street Corp now owns 5,281,522 shares of the data storage provider’s stock worth $1,253,728,000 after purchasing an additional 904,933 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Sandisk by 44.9% in the 4th quarter. Geode Capital Management LLC now owns 3,655,860 shares of the data storage provider’s stock worth $866,310,000 after purchasing an additional 1,133,276 shares in the last quarter. Arrowstreet Capital Limited Partnership boosted its position in shares of Sandisk by 31.3% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 3,478,002 shares of the data storage provider’s stock worth $825,608,000 after purchasing an additional 828,332 shares in the last quarter. Finally, Morgan Stanley boosted its position in shares of Sandisk by 7.2% in the 4th quarter. Morgan Stanley now owns 2,970,361 shares of the data storage provider’s stock worth $705,105,000 after purchasing an additional 199,545 shares in 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.