Sandisk (NASDAQ:SNDK) Shares Down 5.3% – Here’s What Happened

Shares of Sandisk Corporation (NASDAQ:SNDK) traded down 5.3% on Monday . The company traded as low as $1,277.33 and last traded at $1,333.01. 13,734,956 shares traded hands during mid-day trading, a decline of 25% from the average session volume of 18,324,469 shares. The stock had previously closed at $1,407.61.

More Sandisk News

Here are the key news stories impacting Sandisk this week:

• Positive Sentiment: Citi raised its price target on SanDisk to $2,025 from $1,300 and reiterated a Buy rating, citing strong AI-driven demand for NAND storage and tighter supply conditions. Article Title
• Positive Sentiment: Another report highlighted that SanDisk’s business is “in great shape,” with the company benefiting from the AI storage supercycle and ongoing enterprise demand for flash memory. Article Title
• Positive Sentiment: The company presented at J.P. Morgan’s Global Technology, Media and Communications Conference, giving investors another opportunity to hear management reinforce the growth outlook. Article Title
• Neutral Sentiment: Several market commentaries noted that SanDisk’s rally has cooled recently and that the stock is prone to sharp swings as investors reassess valuation after an exceptional run. Article Title
• Negative Sentiment: Some articles pointed to broader chip-sector weakness, rising Treasury yields, and short-term technical cooling as reasons SanDisk has faced pullbacks despite the upbeat long-term thesis. Article Title

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on SNDK shares. Citigroup boosted their price objective on Sandisk from $1,300.00 to $2,025.00 and gave the stock a “buy” rating in a research report on Tuesday. The Goldman Sachs Group reissued a “buy” rating and set a $1,200.00 price objective on shares of Sandisk in a research report on Friday, May 1st. Zacks Research raised Sandisk from a “hold” rating to a “strong-buy” rating in a research report on Friday, February 20th. Wedbush boosted their price objective on Sandisk from $740.00 to $1,200.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 29th. Finally, Morgan Stanley reissued an “overweight” rating and set a $1,100.00 price objective on shares of Sandisk in a research report on Monday, April 27th. Three equities research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat, Sandisk currently has an average rating of “Moderate Buy” and a consensus target price of $1,157.14.

Sandisk Price Performance

The company has a 50 day moving average price of $931.59 and a 200 day moving average price of $572.16. The firm has a market cap of $206.22 billion, a PE ratio of 48.40 and a beta of 4.82.

Sandisk (NASDAQ:SNDK) last released its quarterly earnings results on Thursday, April 30th. The data storage provider reported $23.41 EPS for the quarter, topping the consensus estimate 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 company earned ($0.30) EPS. Sandisk’s revenue for the quarter was up 251.0% compared to the same quarter last year. Sandisk has set its Q4 2026 guidance at 30.000-33.000 EPS. On average, equities analysts anticipate that Sandisk Corporation will post 63.58 earnings per share for the current fiscal year.

Insider Transactions at Sandisk

In other news, CAO Michael Pokorny sold 2,446 shares of the company’s stock in a transaction that occurred on Tuesday, May 12th. The stock was sold at an average price of $1,426.18, for a total transaction of $3,488,436.28. Following the completion of the sale, the chief accounting officer owned 22,375 shares in the company, valued at $31,910,777.50. This represents a 9.85% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Necip Sayiner sold 579 shares of the company’s stock in a transaction that occurred on Friday, May 8th. The stock was sold at an average price of $1,503.11, for a total value of $870,300.69. Following the sale, the director owned 2,900 shares of the company’s stock, valued at $4,359,019. This trade represents a 16.64% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 6,525 shares of company stock worth $6,555,092 over the last 90 days. 0.21% of the stock is currently owned by insiders.

Institutional Trading of Sandisk

Several large investors have recently bought and sold shares of the company. Valley Wealth Managers Inc. acquired a new stake in shares of Sandisk during the first quarter valued at $25,000. Whittier Trust Co. acquired a new stake in shares of Sandisk during the fourth quarter valued at $26,000. Greenline Wealth Management LLC acquired a new stake in shares of Sandisk during the fourth quarter valued at $26,000. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in shares of Sandisk during the third quarter valued at $27,000. Finally, Chung Wu Investment Group LLC acquired a new stake in shares of Sandisk during the fourth quarter valued at $27,000.

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.