Sandisk (NASDAQ:SNDK) Trading Down 10.6% on Analyst Downgrade

Sandisk Corporation (NASDAQ:SNDK)’s stock price traded down 10.6% during mid-day trading on Wednesday after Zacks Research downgraded the stock from a strong-buy rating to a hold rating. The stock traded as low as $2,002.05 and last traded at $2,032.22. 10,857,175 shares changed hands during mid-day trading, a decline of 35% from the average daily volume of 16,632,295 shares. The stock had previously closed at $2,273.73.

A number of other research firms have also weighed in on SNDK. Weiss Ratings lowered Sandisk from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday, June 3rd. Raymond James Financial reaffirmed an “outperform” rating and set a $1,470.00 price objective on shares of Sandisk in a research report on Friday, May 1st. KGI Securities initiated coverage on shares of Sandisk in a report on Wednesday, March 18th. They issued an “outperform” rating and a $992.00 price objective on the stock. Barclays raised shares of Sandisk from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $1,200.00 to $2,300.00 in a research report on Tuesday, May 26th. Finally, Bank of America raised their target price on shares of Sandisk from $2,100.00 to $2,500.00 and gave the stock a “buy” rating in a research note on Wednesday. Two investment 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 stock. Based on data from MarketBeat.com, Sandisk presently has an average rating of “Moderate Buy” and an average price target of $1,684.24.

Insider Transactions at Sandisk

In other Sandisk news, Director Necip Sayiner sold 579 shares of the stock in a transaction on Friday, May 8th. The stock was sold at an average price of $1,503.11, for a total transaction of $870,300.69. Following the transaction, the director owned 2,900 shares in the company, valued at $4,359,019. This trade represents a 16.64% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Alper Ilkbahar sold 2,000 shares of Sandisk stock in a transaction on 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 sale, the executive vice president directly owned 52,677 shares of the company’s stock, valued at $92,531,364.66. This represents a 3.66% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 6,225 shares of company stock valued at $10,166,297. Corporate insiders own 0.21% of the company’s stock.

Sandisk News Summary

Here are the key news stories impacting Sandisk this week:

• Positive Sentiment: Sandisk announced that it has started production of its 10th-generation 3D flash memory with Kioxia at the Kitakami Fab2 site, reinforcing manufacturing scale and supporting future NAND supply as demand for data-center and AI storage stays strong. Article Title
• Positive Sentiment: Analysts remained constructive on Sandisk, with China Renaissance raising its price target to $3,169 on strong AI storage demand and Bank of America lifting its target to $2,500, signaling continued confidence in the company’s pricing power and earnings outlook. Article Title
• Neutral Sentiment: Commentary this week continued to frame Sandisk as a volatile AI infrastructure winner, with some investors viewing the swings as potential buying opportunities on pullbacks. Article Title
• Negative Sentiment: Sandisk has also been hit by a broader selloff in memory and semiconductor shares as traders take profits and rotate away from AI hardware toward software, pressuring the stock despite upbeat long-term fundamentals. Article Title
• Negative Sentiment: Heavy selling across memory names also reflected concern about a possible supply glut, adding another near-term headwind for Sandisk and other chip stocks. Article Title
• Negative Sentiment: Insider Bernard Shek sold 600 shares under a pre-arranged 10b5-1 plan; while routine, insider selling can still create mild caution among traders. Article Title

Institutional Trading of Sandisk

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Allworth Financial LP increased its position in shares of Sandisk by 84.2% in the fourth quarter. Allworth Financial LP now owns 4,521 shares of the data storage provider’s stock worth $1,073,000 after purchasing an additional 2,067 shares during the period. Tredje AP fonden bought a new stake in Sandisk during the fourth quarter worth about $7,821,000. ProShare Advisors LLC lifted its position in Sandisk by 1,301.5% during the fourth quarter. ProShare Advisors LLC now owns 33,637 shares of the data storage provider’s stock worth $7,985,000 after purchasing an additional 31,237 shares during the period. FourThought Financial Partners LLC acquired a new stake in Sandisk during the fourth quarter worth about $422,000. Finally, North Dakota State Investment Board acquired a new stake in Sandisk during the fourth quarter worth about $1,127,000.

Sandisk Stock Performance

The stock has a market capitalization of $258.42 billion, a P/E ratio of 60.65 and a beta of 4.72. The firm’s fifty day simple moving average is $1,634.90 and its 200 day simple moving average is $936.43.

Sandisk (NASDAQ:SNDK) last issued its earnings results on Thursday, April 30th. The data storage provider reported $23.41 EPS for the quarter, beating the consensus estimate of $14.17 by $9.24. Sandisk had a net margin of 34.19% and a return on equity of 44.06%. The company had revenue of $5.95 billion during the quarter. During the same quarter in the previous year, the firm posted ($0.30) earnings per share. Sandisk’s quarterly revenue was up 251.0% compared to the same quarter last year. Sandisk has set its Q4 2026 guidance at 30.000-33.000 EPS. Analysts anticipate that Sandisk Corporation will post 64.01 earnings per share for the current fiscal year.

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.