Sandisk (NASDAQ:SNDK) to Buyback $14.00 billion in Outstanding Stock

Sandisk (NASDAQ:SNDK) announced that its board has initiated a share repurchase program on Wednesday, August 5th, RTT News reports. The company plans to repurchase $14.00 billion in shares. This repurchase authorization authorizes the data storage provider to repurchase up to 6.6% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s board of directors believes its shares are undervalued.

Sandisk Trading Down 5.4%

NASDAQ SNDK traded down $77.12 during trading on Wednesday, reaching $1,350.50. The company’s stock had a trading volume of 15,684,399 shares, compared to its average volume of 16,398,219. The stock has a market capitalization of $200.00 billion, a PE ratio of 46.94 and a beta of 5.20. The business has a 50-day moving average price of $1,717.30 and a 200-day moving average price of $1,141.98. Sandisk has a 1-year low of $40.53 and a 1-year high of $2,354.39.

Sandisk (NASDAQ:SNDK) last announced its quarterly earnings results on Wednesday, August 5th. The data storage provider reported $39.25 EPS for the quarter, topping the consensus estimate of $33.28 by $5.97. The company had revenue of $8.96 billion for the quarter. Sandisk had a net margin of 34.19% and a return on equity of 44.06%. The business’s revenue for the quarter was up 371.6% compared to the same quarter last year. During the same quarter last year, the company earned $0.29 EPS. Sandisk has set its Q1 2027 guidance at 44.000-46.000 EPS. As a group, analysts expect that Sandisk will post 64.52 earnings per share for the current year.

Wall Street Analysts Forecast Growth

SNDK has been the subject of several research reports. Citigroup raised their price target on shares of Sandisk from $2,025.00 to $2,500.00 and gave the stock a “buy” rating in a report on Thursday, June 25th. Argus assumed coverage on shares of Sandisk in a research report on Wednesday, July 15th. They issued a “hold” rating for the company. Susquehanna lowered their price target on shares of Sandisk from $3,250.00 to $3,050.00 and set a “positive” rating on the stock in a report on Thursday, July 23rd. Royal Bank Of Canada increased their price objective on Sandisk from $650.00 to $1,000.00 and gave the stock a “sector perform” rating in a report on Friday, May 1st. Finally, Mizuho lifted their price objective on Sandisk from $1,825.00 to $2,200.00 and gave the company an “outperform” rating in a research report on Monday, June 8th. Three equities research analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $1,811.38.

Key Stories Impacting Sandisk

Here are the key news stories impacting Sandisk this week:

• Positive Sentiment: Strong fiscal Q4 results. Sandisk reported adjusted earnings of $39.25 per share, well above the $33.28–$34.24 consensus range, while revenue reached approximately $8.97 billion, up 371.6% year over year. Net income was about $6.9 billion, supported by stronger NAND pricing, higher volumes and margin expansion. Sandisk Corporation Beats Q4 Earnings and Revenue Estimates
• Positive Sentiment: AI data-center demand remains a major growth driver. Sandisk said demand for memory and storage used in AI infrastructure is strengthening. Data-center revenue reportedly surged during fiscal 2026, while new customer agreements and enterprise SSD demand support the company’s longer-term growth outlook. Sandisk Forecasts Upbeat Quarterly Revenue on AI-Driven Demand
• Positive Sentiment: Capital returns were increased. Sandisk expanded its share-repurchase authorization by $14 billion, potentially providing support for the stock and signaling management’s confidence in future cash generation. Sandisk Stock Slides Despite Revenue Surge and Buyback
• Neutral Sentiment: Q1 fiscal 2027 guidance was mixed. Sandisk forecast earnings of $44–$46 per share, above the approximately $41.45 consensus estimate. Revenue guidance of $10.3–$10.8 billion brackets the roughly $10.4 billion consensus, with the midpoint implying continued growth but the low end falling short of expectations. Sandisk Slips as Mixed Guidance Overshadows Strong Q4 Results
• Negative Sentiment: Investors may be questioning whether the growth and margin surge can last. Concerns include NAND pricing volatility, potential oversupply, competition from Chinese producers and the possibility that elevated expectations were not fully reflected in the revenue outlook. These concerns outweighed the strong quarterly beat in the immediate market reaction. Sandisk This Insane Growth May Not Be Good Enough

Insider Buying and Selling at Sandisk

In other Sandisk news, EVP Alper Ilkbahar sold 2,000 shares of the business’s stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $1,756.58, for a total value of $3,513,160.00. Following the completion of the sale, the executive vice president owned 52,677 shares of the company’s stock, valued at $92,531,364.66. The trade was a 3.66% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Necip Sayiner sold 579 shares of the company’s stock in a transaction dated 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. This trade represents a 16.64% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 6,825 shares of company stock valued at $10,863,593. Corporate insiders own 0.21% of the company’s stock.

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.