Sandisk (NASDAQ:SNDK) Trading Up 5% – Still a Buy?

Sandisk Corporation (NASDAQ:SNDK) shares rose 5% on Tuesday . The stock traded as high as $1,812.54 and last traded at $1,757.82. 9,516,761 shares changed hands during trading, a decline of 42% from the average daily volume of 16,381,541 shares. The stock had previously closed at $1,673.97.

Trending Headlines about Sandisk

Here are the key news stories impacting Sandisk this week:

• Positive Sentiment: Wedbush reiterated a bullish view ahead of Sandisk’s August 5 earnings report, raising revenue and earnings expectations above consensus and arguing that memory pricing trends support further upside. Wedbush Pounds the Table—Buy Sandisk Before August 5 Earnings
• Positive Sentiment: Evercore ISI and Goldman Sachs both lifted price targets sharply, with analysts arguing Sandisk still has room to run thanks to AI-driven memory demand and a valuation that remains appealing versus peers. SanDisk Stock Price Forecast: Why Evercore’s Amit Daryanani Raised SNDK’s Price Target by More Than 120%
• Positive Sentiment: Several articles argue the recent pullback is a buying opportunity, citing strong AI inference demand, lower valuations, and momentum-stock status for SNDK. Best Momentum Stocks to Buy for July 13th
• Positive Sentiment: SK Hynix’s rally helped lift sentiment across memory stocks, including Sandisk, reinforcing the AI-memory supercycle trade. SK Hynix ADR Soars 19% as Leveraged ETFs Launch, Lifting Micron, SanDisk, Western Digital
• Neutral Sentiment: Commentary today questioned whether Sandisk’s massive run has more room left, suggesting investors are weighing strong AI demand against the risk that much of the easy money has already been made. Price Prediction: From $40 to $2,000 in a Year. Where is SanDisk Headed Now?
• Negative Sentiment: Shares were pressured by a broader selloff in chip and memory stocks after weak guidance from SK Hynix and renewed geopolitical risk, which has weighed on the entire AI-memory trade. Micron, SanDisk, Western Digital Fall 6% as SK Hynix’s Weak Outlook Rattles Memory Stocks
• Negative Sentiment: Technical-trading coverage notes SNDK recently suffered a sharp pullback and remains highly volatile, even as analysts stay constructive. SanDisk Stock Price Outlook: What Technical Analysis Says Now

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. UBS Group set a $1,700.00 price objective on shares of Sandisk in a research report on Monday, May 4th. Evercore set a $3,100.00 target price on shares of Sandisk in a research note on Monday. Citigroup upped their price target on shares of Sandisk from $2,025.00 to $2,500.00 and gave the stock a “buy” rating in a research report on Thursday, June 25th. The Goldman Sachs Group reiterated a “buy” rating and set a $1,200.00 target price on shares of Sandisk in a report on Friday, May 1st. Finally, Zacks Research downgraded shares of Sandisk from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 1st. Two research analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, Sandisk has a consensus rating of “Moderate Buy” and a consensus target price of $1,803.29.

Sandisk Stock Up 5.0%

The firm has a market cap of $260.32 billion, a P/E ratio of 61.10 and a beta of 4.74. The business’s 50 day moving average is $1,737.85 and its 200-day moving average is $1,011.93.

Sandisk (NASDAQ:SNDK) last posted its quarterly earnings results on Thursday, April 30th. The data storage provider reported $23.41 EPS for the quarter, topping analysts’ consensus estimates of $14.17 by $9.24. Sandisk had a return on equity of 44.06% and a net margin of 34.19%.The business had revenue of $5.95 billion during the quarter. During the same quarter last year, the business posted ($0.30) earnings per share. The firm’s revenue for the quarter was up 251.0% on a year-over-year basis. Sandisk has set its Q4 2026 guidance at 30.000-33.000 EPS. As a group, equities analysts predict that Sandisk Corporation will post 64.95 earnings per share for the current year.

Insider Buying and Selling

In other Sandisk news, EVP Alper Ilkbahar sold 2,000 shares of the business’s stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $1,756.58, for a total transaction of $3,513,160.00. Following the completion of the transaction, the executive vice president directly owned 52,677 shares of the company’s stock, valued at $92,531,364.66. The trade was a 3.66% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Bernard Shek sold 600 shares of the company’s stock in a transaction dated Wednesday, July 1st. The stock was sold at an average price of $2,088.00, for a total transaction of $1,252,800.00. Following the completion of the transaction, the insider owned 31,515 shares of the company’s stock, valued at approximately $65,803,320. This trade represents a 1.87% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 6,225 shares of company stock valued at $10,166,297 over the last three months. Corporate insiders own 0.21% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in SNDK. Allworth Financial LP grew its holdings in Sandisk by 84.2% during the fourth quarter. Allworth Financial LP now owns 4,521 shares of the data storage provider’s stock worth $1,073,000 after acquiring an additional 2,067 shares during the period. Tredje AP fonden acquired a new stake in Sandisk during the fourth quarter valued at approximately $7,821,000. ProShare Advisors LLC lifted its stake 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 valued at $7,985,000 after purchasing an additional 31,237 shares during the last quarter. FourThought Financial Partners LLC bought a new stake in Sandisk during the fourth quarter worth approximately $422,000. Finally, North Dakota State Investment Board bought a new stake in shares of Sandisk during the 4th quarter worth $1,127,000.

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. It offers SSDs for client computing applications, which encompass desktop computers, notebook computers, tablets and other computing devices.