Sandisk (NASDAQ:SNDK) Trading 8.9% Higher – Time to Buy?

Shares of Sandisk Corporation (NASDAQ:SNDK) traded up 8.9% on Monday . The company traded as high as $223.16 and last traded at $218.00. 3,671,501 shares changed hands during trading, a decline of 31% from the average session volume of 5,289,228 shares. The stock had previously closed at $200.27.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on SNDK. UBS Group reissued an “overweight” rating and issued a $230.00 price objective on shares of Sandisk in a research note on Monday, November 3rd. The Goldman Sachs Group increased their target price on shares of Sandisk from $55.00 to $140.00 and gave the stock a “buy” rating in a research report on Thursday, October 9th. Zacks Research raised shares of Sandisk from a “hold” rating to a “strong-buy” rating in a research note on Friday, November 14th. Susquehanna raised their price target on Sandisk from $65.00 to $250.00 and gave the stock a “positive” rating in a research note on Friday, November 7th. Finally, Cantor Fitzgerald raised their price objective on shares of Sandisk from $240.00 to $300.00 and gave the company an “overweight” rating in a research report on Friday, November 7th. Three research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $193.88.

Sandisk Trading Down 0.2%

The company has a debt-to-equity ratio of 0.14, a current ratio of 3.29 and a quick ratio of 2.03. The company has a market capitalization of $32.25 billion and a price-to-earnings ratio of 687.75. The business has a fifty day moving average price of $168.41 and a 200 day moving average price of $89.31.

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

Hedge Funds Weigh In On Sandisk

Hedge funds and other institutional investors have recently made changes to their positions in the business. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in Sandisk in the third quarter worth about $27,000. CVA Family Office LLC bought a new stake in shares of Sandisk in the 3rd quarter valued at approximately $28,000. Parallel Advisors LLC acquired a new position in shares of Sandisk in the 3rd quarter worth approximately $30,000. Northwestern Mutual Wealth Management Co. bought a new position in shares of Sandisk during the 3rd quarter worth approximately $32,000. Finally, Covestor Ltd acquired a new stake in Sandisk in the 3rd quarter valued at $37,000.

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.