Sandisk (NASDAQ:SNDK) Shares Gap Up – Here’s What Happened

Sandisk Corporation (NASDAQ:SNDK) gapped up prior to trading on Monday . The stock had previously closed at $206.18, but opened at $214.45. Sandisk shares last traded at $205.62, with a volume of 3,633,072 shares changing hands.

Analysts Set New Price Targets

SNDK has been the topic of a number of analyst reports. China Renaissance started coverage on Sandisk in a research note on Friday, December 5th. They issued a “buy” rating and a $322.00 price target on the stock. Sanford C. Bernstein upgraded shares of Sandisk to a “strong-buy” rating in a report on Tuesday, September 16th. Weiss Ratings restated a “sell (d+)” rating on shares of Sandisk in a research report on Monday. Morgan Stanley increased their target price on shares of Sandisk from $263.00 to $273.00 and gave the stock an “overweight” rating in a report on Monday, November 24th. Finally, Mizuho boosted their price target on Sandisk to $215.00 and gave the company an “outperform” rating in a report on Tuesday, October 28th. Three research analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $213.33.

Sandisk Trading Down 1.4%

The stock’s fifty day simple moving average is $200.92 and its two-hundred day simple moving average is $107.99. The firm has a market cap of $30.26 billion and a PE ratio of 645.16. The company has a quick ratio of 2.03, a current ratio of 3.29 and a debt-to-equity ratio of 0.14.

Sandisk (NASDAQ:SNDK) last issued its quarterly earnings results on Thursday, November 6th. The data storage provider reported $1.22 EPS for the quarter, topping analysts’ consensus estimates of $0.58 by $0.64. The company had revenue of $2.31 billion during the quarter, compared to the consensus estimate of $2.12 billion. Sandisk’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.

Insider Buying and Selling

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

Hedge Funds Weigh In On Sandisk

A number of hedge funds have recently bought and sold shares of SNDK. Mitsubishi UFJ Asset Management Co. Ltd. purchased 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 during the third quarter valued at approximately $28,000. Parallel Advisors LLC purchased a new position in Sandisk in the 3rd quarter worth approximately $30,000. Northwestern Mutual Wealth Management Co. bought a new position in Sandisk in the 3rd quarter valued at approximately $32,000. Finally, Covestor Ltd bought a new position in Sandisk in the 3rd quarter valued at approximately $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.