Shares of Sandisk Corporation (NASDAQ:SNDK – Get Free Report) dropped 5% during mid-day trading on Thursday . The company traded as low as $1,292.57 and last traded at $1,339.96. Approximately 15,588,131 shares changed hands during trading, a decline of 16% from the average daily volume of 18,586,385 shares. The stock had previously closed at $1,409.98.
Key Stories Impacting Sandisk
Here are the key news stories impacting Sandisk this week:
- Positive Sentiment: Shares are benefiting from the broad AI memory supercycle trade, as investors rotate into SanDisk and Micron on expectations that AI data-center demand will keep memory supply tight and pricing strong. SanDisk Did In Months What Nvidia Took 9 Years To Pull Off — And The Chart Looks Almost Unreal
- Positive Sentiment: Wall Street sentiment remains bullish after Cantor Fitzgerald raised its price target on SanDisk to $1,800 and Goldman Sachs lifted its target to $1,200, reinforcing the view that the stock still has room to run after its strong earnings beat and raised outlook. Why Sandisk Corporation (SNDK) is One of the Top Stock Giants That Were Suddenly On Fire in April Goldman Sachs Raises its Price Target on SanDisk (SNDK) to $1,200
- Positive Sentiment: Analyst chatter and media coverage are increasingly framing SanDisk as a leading beneficiary of AI infrastructure spending, including reports that the company has locked in major AI-related deals and could still nearly double from current levels if the memory boom persists. SanDisk to $2,000: Why This Analyst Is Betting SNDK Stock Can Still Almost Double — And Putting Up the Highest Price Target on Wall Street SanDisk stock surges 10% after locking in $42 billion in AI deals
- Neutral Sentiment: Some commentary suggests the move is getting stretched after an enormous run, with options activity and short-interest concerns signaling that traders may be preparing for volatility even if the longer-term thesis remains intact. Sandisk: The Options Market Is Pricing A Big Selloff (Technical Analysis)
- Negative Sentiment: Near-term pullbacks have been tied to bubble concerns and short-selling pressure, with some investors warning the AI rally may be overheated even as others still see further upside. Why Is SanDisk Stock Falling On Thursday?
Analysts Set New Price Targets
Several research analysts recently weighed in on SNDK shares. Wedbush upped their target price on shares of Sandisk from $740.00 to $1,200.00 and gave the stock an “outperform” rating in a report on Wednesday, April 29th. Melius Research started coverage on shares of Sandisk in a report on Monday, April 27th. They issued a “buy” rating for the company. Benchmark upped their target price on shares of Sandisk from $260.00 to $450.00 and gave the stock a “buy” rating in a report on Thursday, January 15th. Sanford C. Bernstein upped their target price on shares of Sandisk from $1,250.00 to $1,700.00 and gave the stock an “outperform” rating in a report on Monday, May 4th. Finally, Zacks Research raised shares of Sandisk from a “hold” rating to a “strong-buy” rating in a report on Friday, February 20th. Three equities research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Sandisk presently has an average rating of “Moderate Buy” and a consensus price target of $1,065.81.
Sandisk Trading Up 16.6%
The firm has a market cap of $231.37 billion, a PE ratio of 54.30 and a beta of 4.82. The firm’s 50 day simple moving average is $797.19 and its 200 day simple moving average is $500.60.
Sandisk (NASDAQ:SNDK – Get Free Report) last announced its quarterly earnings results on Thursday, April 30th. The data storage provider reported $23.41 EPS for the quarter, topping the consensus estimate of $14.17 by $9.24. The business had revenue of $5.95 billion for the quarter. Sandisk had a net margin of 34.19% and a return on equity of 44.06%. The firm’s revenue for the quarter was up 251.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.30) EPS. Sandisk has set its Q4 2026 guidance at 30.000-33.000 EPS. As a group, equities research analysts predict that Sandisk Corporation will post 63.93 earnings per share for the current fiscal year.
Insider Buying and Selling
In other Sandisk news, Director Miyuki Suzuki sold 3,500 shares of the business’s stock in a transaction on Wednesday, February 25th. The shares were sold at an average price of $627.53, for a total value of $2,196,355.00. Following the sale, the director owned 9,907 shares in the company, valued at $6,216,939.71. The trade was a 26.11% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.21% of the stock is currently owned by insiders.
Institutional Trading of Sandisk
Several hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. purchased a new stake in shares of Sandisk during the 3rd quarter valued at about $1,970,388,000. State Street Corp raised its position in shares of Sandisk by 20.7% during the 4th quarter. State Street Corp now owns 5,281,522 shares of the data storage provider’s stock valued at $1,253,728,000 after buying an additional 904,933 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Sandisk by 44.9% during the 4th quarter. Geode Capital Management LLC now owns 3,655,860 shares of the data storage provider’s stock valued at $866,310,000 after buying an additional 1,133,276 shares in the last quarter. Arrowstreet Capital Limited Partnership raised its position in shares of Sandisk by 31.3% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 3,478,002 shares of the data storage provider’s stock valued at $825,608,000 after buying an additional 828,332 shares in the last quarter. Finally, Morgan Stanley raised its position in shares of Sandisk by 7.2% during the 4th quarter. Morgan Stanley now owns 2,970,361 shares of the data storage provider’s stock valued at $705,105,000 after buying an additional 199,545 shares in the last quarter.
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.
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