Sandisk (NASDAQ:SNDK) Stock Price Down 10.5% – Here’s What Happened

Sandisk Corporation (NASDAQ:SNDK)’s stock price fell 10.5% during mid-day trading on Friday . The stock traded as low as $2,063.04 and last traded at $2,090.71. 16,651,628 shares traded hands during trading, a decline of 1% from the average daily volume of 16,757,518 shares. The stock had previously closed at $2,335.00.

Key Sandisk News

Here are the key news stories impacting Sandisk this week:

• Positive Sentiment: Rising AI infrastructure demand continues to support Sandisk’s NAND flash and SSD business, with multiple articles pointing to strong pricing power, improving earnings, and a favorable industry backdrop. Micron + One Explosive AI Memory Stock to Buy Before H2 2026
• Positive Sentiment: Citi raised its price target on Sandisk to $2,500 and reiterated a Buy rating, reinforcing the view that Wall Street still sees upside after the company’s blowout quarter. Citi Just Raised Its Price Target on SanDisk Stock. Here’s Why.
• Positive Sentiment: Micron’s strong results also lifted sentiment across the memory-chip group, putting Sandisk in focus as investors extrapolate stronger AI memory demand into the next quarter. Micron’s Robust Q3 Results Raise Investor Attention on These 3 Stocks
• Neutral Sentiment: Some analysis notes that Sandisk remains attractively valued versus its growth profile, but that the stock carries higher execution and customer-concentration risk than more diversified peers. Sandisk: Unlike Micron, There’s Much Higher Risk
• Negative Sentiment: Several market reports describe the move as a cooling of the memory rally, with traders locking in profits after Thursday’s sharp surge. Why Is Sandisk Stock Falling Friday?
• Negative Sentiment: One bearish note argues Sandisk has rallied too far too fast and implies material downside from current levels, adding to near-term pressure on the shares. Prediction: SanDisk Has Rallied Too Far, Too Fast. The Price Target Warns of 20%+ Downside

Analysts Set New Price Targets

A number of equities research analysts recently commented on the company. Weiss Ratings lowered Sandisk from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Wednesday, June 3rd. UBS Group set a $1,700.00 price objective on Sandisk in a research note on Monday, May 4th. Susquehanna lifted their price objective on shares of Sandisk from $2,000.00 to $3,250.00 and gave the stock a “positive” rating in a report on Friday, May 29th. Arete Research upgraded shares of Sandisk from a “hold” rating to a “strong-buy” rating in a research note on Monday, April 13th. Finally, Barclays upgraded shares of Sandisk from an “equal weight” rating to an “overweight” rating and increased their target price for the company from $1,200.00 to $2,300.00 in a report on Tuesday, May 26th. Three research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $1,603.29.

Sandisk Price Performance

The company has a market capitalization of $309.61 billion, a P/E ratio of 72.67 and a beta of 4.87. The firm has a fifty day moving average price of $1,546.01 and a 200-day moving average price of $881.10.

Sandisk (NASDAQ:SNDK) last issued 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 for the quarter. During the same quarter last year, the business posted ($0.30) earnings per share. The business’s 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. On average, research analysts forecast that Sandisk Corporation will post 64.01 EPS for the current year.

Insiders Place Their Bets

In other news, insider Bernard Shek sold 600 shares of Sandisk stock in a transaction on Wednesday, June 3rd. The stock was sold at an average price of $1,736.00, for a total transaction of $1,041,600.00. Following the sale, the insider directly owned 32,232 shares in the company, valued at $55,954,752. The trade was a 1.83% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Necip Sayiner sold 579 shares of the business’s stock in a transaction dated 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 completion of the transaction, the director directly owned 2,900 shares in the company, valued at $4,359,019. This trade represents a 16.64% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 5,625 shares of company stock valued at $8,913,497. 0.21% of the stock is owned by company insiders.

Institutional Trading of Sandisk

Hedge funds have recently added to or reduced their stakes in the stock. Basecamp Wealth Advisors LLC boosted its stake in Sandisk by 7.8% in the first quarter. Basecamp Wealth Advisors LLC now owns 333 shares of the data storage provider’s stock valued at $212,000 after acquiring an additional 24 shares during the last quarter. Parallel Advisors LLC grew its position in shares of Sandisk by 233.3% during the 1st quarter. Parallel Advisors LLC now owns 1,430 shares of the data storage provider’s stock valued at $909,000 after acquiring an additional 1,001 shares during the period. NewEdge Advisors LLC grew its position in shares of Sandisk by 187.2% during the 1st quarter. NewEdge Advisors LLC now owns 18,129 shares of the data storage provider’s stock valued at $11,518,000 after acquiring an additional 11,817 shares during the period. Keel Point LLC purchased a new stake in shares of Sandisk during the 1st quarter worth approximately $314,000. Finally, Glenmede Trust Co. NA increased its stake in shares of Sandisk by 76.4% during the 1st quarter. Glenmede Trust Co. NA now owns 2,754 shares of the data storage provider’s stock worth $1,750,000 after purchasing an additional 1,193 shares during the last quarter.

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.