Sandisk (NASDAQ:SNDK) Trading 4.6% Higher – Here’s Why

Sandisk Corporation (NASDAQ:SNDK) shares rose 4.6% on Wednesday . The stock traded as high as $261.37 and last traded at $256.10. Approximately 3,430,432 shares traded hands during mid-day trading, a decline of 41% from the average daily volume of 5,853,226 shares. The stock had previously closed at $244.90.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the company. Mizuho raised their price target on Sandisk to $215.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 28th. Wells Fargo & Company increased their target price on Sandisk from $115.00 to $230.00 and gave the stock an “equal weight” rating in a report on Friday, November 7th. Weiss Ratings restated a “sell (d+)” rating on shares of Sandisk in a report on Monday. Zacks Research upgraded Sandisk from a “hold” rating to a “strong-buy” rating in a report on Friday, November 14th. Finally, Barclays increased their price target on Sandisk from $39.00 to $220.00 and gave the company an “equal weight” rating in a research report on Monday, November 10th. Three equities research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, six have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $213.33.

Sandisk Price Performance

The stock has a market capitalization of $36.46 billion and a price-to-earnings ratio of 777.56. The company’s 50-day simple moving average is $211.11 and its 200-day simple moving average is $114.73. The company has a debt-to-equity ratio of 0.14, a current ratio of 3.29 and a quick ratio of 2.03.

Sandisk (NASDAQ:SNDK) last released its earnings results on Thursday, November 6th. The data storage provider reported $1.22 earnings per share 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 the consensus estimate of $2.12 billion. The business’s revenue was up 22.6% compared to the same quarter last year. Sandisk has set its Q2 2026 guidance at 3.000-3.40 EPS.

Insider Buying and Selling at Sandisk

In other Sandisk news, Director Necip Sayiner sold 1,271 shares of the firm’s stock in a transaction that occurred on Wednesday, December 3rd. The shares were sold at an average price of $195.14, for a total value of $248,022.94. Following the sale, the director owned 3,479 shares in the company, valued at $678,892.06. This trade represents a 26.76% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Insiders own 0.21% of the company’s stock.

Institutional Investors Weigh In On Sandisk

Hedge funds and other institutional investors have recently bought and sold shares of the company. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in shares of Sandisk in the third quarter valued at approximately $27,000. CVA Family Office LLC bought a new stake in shares of Sandisk in the 3rd quarter valued at $28,000. Parallel Advisors LLC bought a new position in Sandisk during the third quarter worth $30,000. Northwestern Mutual Wealth Management Co. bought a new position in Sandisk during the third quarter worth $32,000. Finally, Covestor Ltd acquired a new position in Sandisk in the third quarter valued at $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. It offers SSDs for client computing applications, which encompass desktop computers, notebook computers, tablets and other computing devices.