Sandisk (NASDAQ:SNDK) Trading Down 13.6% – Time to Sell?

Sandisk Corporation (NASDAQ:SNDK)’s stock price traded down 13.6% during mid-day trading on Tuesday . The stock traded as low as $1,949.96 and last traded at $1,963.60. Approximately 12,588,784 shares changed hands during trading, a decline of 25% from the average daily volume of 16,820,531 shares. The stock had previously closed at $2,273.73.

More Sandisk News

Here are the key news stories impacting Sandisk this week:

• Positive Sentiment: SanDisk has been benefiting from the AI storage narrative, with reports saying AI is “fundamentally” changing the NAND market and boosting demand for data-center memory. Article Title
• Positive Sentiment: BofA reportedly raised its price target on SNDK, reinforcing the view that tight NAND supply and strong AI-driven demand could support earnings and margins. Article Title
• Positive Sentiment: Recent articles also pointed to improving memory fundamentals and continued investor enthusiasm around SanDisk’s pure-play NAND positioning. Article Title
• Neutral Sentiment: SanDisk’s huge year-to-date run has made the stock increasingly sensitive to headlines, with some commentary warning that the share price may now be stretched after the surge. Article Title
• Negative Sentiment: Memory stocks sold off sharply as investors worried about an AI bubble, high AI spending, and rate-hike risks, which pressured SanDisk alongside peers like Micron. Article Title
• Negative Sentiment: A broader tech selloff and a Korean market crash hit memory-chip names, adding momentum to the decline in SNDK and other storage stocks. Article Title

Analyst Ratings Changes

SNDK has been the subject of several research reports. Citigroup increased their target price on shares of Sandisk from $1,300.00 to $2,025.00 and gave the company a “buy” rating in a research note on Tuesday, May 19th. Mizuho upped their price target on Sandisk from $1,825.00 to $2,200.00 and gave the company an “outperform” rating in a report on Monday, June 8th. Arete Research upgraded Sandisk from a “hold” rating to a “strong-buy” rating in a research report on Monday, April 13th. Cantor Fitzgerald lifted their price objective on Sandisk from $1,800.00 to $2,900.00 and gave the stock an “overweight” rating in a report on Monday, June 8th. Finally, The Goldman Sachs Group restated a “buy” rating and set a $1,200.00 price objective on shares of Sandisk in a research report on Friday, May 1st. Three research analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $1,580.67.

Sandisk Stock Performance

The firm has a market capitalization of $290.79 billion, a price-to-earnings ratio of 68.25 and a beta of 4.88. The firm’s 50-day moving average price is $1,452.71 and its two-hundred day moving average price is $833.30.

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

Insider Buying and Selling

In related news, EVP Alper Ilkbahar sold 2,000 shares of the business’s 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 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Michael Pokorny sold 2,446 shares of the company’s stock in a transaction on Tuesday, May 12th. The shares were sold at an average price of $1,426.18, for a total value 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 trade represents a 9.85% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 5,625 shares of company stock valued at $8,913,497. 0.21% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Sandisk

Large investors have recently made changes to their positions in the company. State Street Corp lifted its holdings in Sandisk by 20.7% during the 4th quarter. State Street Corp now owns 5,281,522 shares of the data storage provider’s stock valued at $1,253,728,000 after purchasing an additional 904,933 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of Sandisk by 44.9% in the fourth quarter. Geode Capital Management LLC now owns 3,655,860 shares of the data storage provider’s stock valued at $866,310,000 after acquiring an additional 1,133,276 shares during the last quarter. Arrowstreet Capital Limited Partnership boosted its holdings in shares of Sandisk by 31.3% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 3,478,002 shares of the data storage provider’s stock worth $825,608,000 after acquiring an additional 828,332 shares in the last quarter. Morgan Stanley boosted its holdings in shares of Sandisk by 7.2% in the 4th quarter. Morgan Stanley now owns 2,970,361 shares of the data storage provider’s stock worth $705,105,000 after acquiring an additional 199,545 shares in the last quarter. Finally, Norges Bank bought a new stake in Sandisk during the 4th 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.