Sandisk (NASDAQ:SNDK) Trading Down 1.4% – Here’s What Happened

Sandisk Corporation (NASDAQ:SNDK) shares traded down 1.4% during mid-day trading on Tuesday . The stock traded as low as $1,509.14 and last traded at $1,530.90. Approximately 6,825,284 shares traded hands during mid-day trading, a decline of 57% from the average daily volume of 15,921,400 shares. The stock had previously closed at $1,551.99.

More Sandisk News

Here are the key news stories impacting Sandisk this week:

• Positive Sentiment: AI storage demand remains a major growth catalyst. SanDisk is benefiting from rising NAND content in AI infrastructure, edge devices and enterprise SSDs. Its UltraQLC, BiCS9, BiCS10 and High Bandwidth Flash products could support higher-value sales and lower costs per bit. SNDK Capitalizes on AI Storage Growth
• Positive Sentiment: Analysts continue to see substantial upside. SanDisk is included among growth stocks with projected upside of at least 30%, reflecting confidence in demand trends and longer-term catalysts. 3 Growth Stocks With 30%+ Upside
• Positive Sentiment: Share repurchases may support per-share results. SanDisk has begun retiring shares, which could increase earnings per share and signal management believes the stock is attractively valued, although buybacks do not directly increase operating profit. SanDisk Has Started Retiring Its Own Shares
• Neutral Sentiment: Contract coverage could reduce NAND-cycle risk. Multi-year New Business Model agreements reportedly cover about half of projected fiscal 2027 bit shipments and roughly two-thirds of fiscal 2028 shipments, potentially providing revenue visibility if NAND pricing weakens. Sandisk And The NAND Stabilization Test
• Neutral Sentiment: A stock split is only a potential trading catalyst. A split could make SNDK more accessible to individual investors, but it would not change revenue, profits or the underlying value of shareholders’ holdings. Is a Sandisk Stock Split Coming?
• Negative Sentiment: DeepSeek-related concerns triggered the recent decline. Reports that a more efficient AI model may require less memory caused investors to question the durability of AI infrastructure demand, pressuring SanDisk and other memory stocks. SanDisk Shares Fall as AI Demand Concerns Weigh
• Negative Sentiment: Valuation, profit-taking and competition remain risks. After an extraordinary rally, investors are taking profits, while Micron and Seagate remain formidable competitors. Stabilizing NAND supply could also weaken pricing and earnings power. AI Storage Competition

Analyst Upgrades and Downgrades

SNDK has been the subject of several research reports. Argus raised shares of Sandisk from a “hold” rating to a “buy” rating in a research report on Monday, August 10th. Royal Bank Of Canada boosted their price objective on shares of Sandisk from $1,300.00 to $1,600.00 and gave the company a “sector perform” rating in a research report on Friday, August 14th. Evercore reaffirmed an “outperform” rating on shares of Sandisk in a research note on Thursday, August 13th. JPMorgan Chase & Co. assumed coverage on Sandisk in a report on Friday, August 14th. They set an “overweight” rating and a $2,250.00 target price for the company. Finally, Morgan Stanley lifted their price target on Sandisk from $1,100.00 to $1,750.00 and gave the company an “overweight” rating in a research note on Wednesday, June 3rd. Two investment analysts have rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $1,998.14.

Sandisk Stock Performance

The stock has a market cap of $224.15 billion, a price-to-earnings ratio of 21.00, a price-to-earnings-growth ratio of 0.16 and a beta of 5.17. The company has a 50-day simple moving average of $1,513.91 and a two-hundred day simple moving average of $1,334.50.

Sandisk (NASDAQ:SNDK) last released its quarterly earnings data on Wednesday, August 5th. The data storage provider reported $39.25 EPS for the quarter, beating the consensus estimate of $33.28 by $5.97. Sandisk had a return on equity of 87.84% and a net margin of 56.47%.The company had revenue of $8.96 billion during the quarter. During the same period in the previous year, the company posted $0.29 EPS. The company’s quarterly revenue was up 371.6% compared to the same quarter last year. Sandisk has set its Q1 2027 guidance at 44.000-46.000 EPS. As a group, sell-side analysts predict that Sandisk Corporation will post 208.92 earnings per share for the current fiscal year.

Sandisk announced that its board has initiated a stock buyback program on Wednesday, August 5th that permits the company to buyback $14.00 billion in outstanding shares. This buyback authorization permits the data storage provider to repurchase up to 6.6% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s management believes its stock is undervalued.

Insiders Place Their Bets

In other news, EVP Alper Ilkbahar sold 4,712 shares of Sandisk stock in a transaction dated Thursday, September 3rd. The shares were sold at an average price of $1,540.58, for a total value of $7,259,212.96. Following the completion of the transaction, the executive vice president owned 44,134 shares of the company’s stock, valued at $67,991,957.72. This trade represents a 9.65% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Bernard Shek sold 2,308 shares of Sandisk stock in a transaction dated Tuesday, September 8th. The shares were sold at an average price of $1,767.33, for a total transaction of $4,078,997.64. Following the completion of the transaction, the insider directly owned 25,305 shares of the company’s stock, valued at approximately $44,722,285.65. This trade represents a 8.36% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 9,220 shares of company stock valued at $14,829,223. Corporate insiders own 0.21% of the company’s stock.

Institutional Investors Weigh In On Sandisk

Several hedge funds have recently bought and sold shares of SNDK. BlackRock Inc. acquired a new stake in Sandisk during the 2nd quarter worth about $23,408,732,000. Geode Capital Management LLC lifted its stake 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 valued at $866,310,000 after purchasing an additional 1,133,276 shares during the period. Arrowstreet Capital Limited Partnership boosted 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 purchasing an additional 828,332 shares in the last quarter. Situational Awareness LP grew its stake in Sandisk by 42.4% during the second quarter. Situational Awareness LP now owns 2,495,344 shares of the data storage provider’s stock worth $5,673,739,000 after purchasing an additional 743,325 shares during the period. Finally, Norges Bank acquired a new stake in Sandisk during the fourth quarter worth approximately $518,889,000.

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.