Sandisk (NASDAQ:SNDK) Trading Down 7.3% – Here’s Why

Sandisk Corporation (NASDAQ:SNDK) shares dropped 7.3% during mid-day trading on Tuesday . The company traded as low as $1,485.02 and last traded at $1,617.70. 14,287,485 shares were traded during trading, a decline of 14% from the average session volume of 16,553,805 shares. The stock had previously closed at $1,744.43.

Sandisk News Summary

Here are the key news stories impacting Sandisk this week:

• Positive Sentiment: Analysts and market commentators continue to argue that SanDisk still has strong long-term momentum, with recent coverage highlighting bullish price targets and the company’s exposure to AI-driven storage demand. Article Title
• Positive Sentiment: SanDisk’s long-term growth story is still supported by strong demand for NAND flash and AI-related data storage, and some reports say the recent pullback may be a reset rather than a trend reversal. Article Title
• Neutral Sentiment: Zacks published a momentum-focused piece arguing that SanDisk remains a top long-term momentum stock, reinforcing that sentiment toward the name is still constructive despite volatility. Article Title
• Negative Sentiment: SanDisk is being hit by a broad memory-sector selloff, with multiple reports saying Samsung-led weakness spread to U.S. chip stocks and pulled SNDK lower in premarket and early trading. Article Title
• Negative Sentiment: Some articles warn that the recent pullback could deepen if investors keep worrying about oversupply, valuation pressure, and a possible end to the memory-chip surge. Article Title

Analysts Set New Price Targets

Several research analysts recently commented on the company. Raymond James Financial reaffirmed an “outperform” rating and issued a $1,470.00 target price on shares of Sandisk in a research report on Friday, May 1st. Bank of America boosted their price target on shares of Sandisk from $2,100.00 to $2,500.00 and gave the company a “buy” rating in a report on Wednesday, July 1st. The Goldman Sachs Group reaffirmed a “buy” rating and set a $1,200.00 price objective on shares of Sandisk in a report on Friday, May 1st. Cantor Fitzgerald lifted their target price on shares of Sandisk from $1,800.00 to $2,900.00 and gave the company an “overweight” rating in a research report on Monday, June 8th. Finally, KGI Securities started coverage on shares of Sandisk in a research report on Wednesday, March 18th. They set an “outperform” rating and a $992.00 target price on the stock. Two analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $1,684.24.

Sandisk Stock Down 7.3%

The stock has a fifty day simple moving average of $1,666.46 and a 200-day simple moving average of $958.11. The company has a market capitalization of $239.57 billion, a P/E ratio of 56.23 and a beta of 4.74.

Sandisk (NASDAQ:SNDK) last announced its earnings results on Thursday, April 30th. The data storage provider reported $23.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $14.17 by $9.24. Sandisk had a net margin of 34.19% and a return on equity of 44.06%. The business had revenue of $5.95 billion during the quarter. During the same quarter last year, the business earned ($0.30) EPS. The company’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. Analysts predict that Sandisk Corporation will post 64.01 earnings per share for the current fiscal year.

Insider Activity

In other news, EVP Alper Ilkbahar sold 2,000 shares of the firm’s stock in a transaction that occurred on 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 sale, the executive vice president owned 52,677 shares of the company’s stock, valued at approximately $92,531,364.66. This trade represents a 3.66% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Necip Sayiner sold 579 shares of Sandisk stock in a transaction that occurred on Friday, May 8th. The shares were 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 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 disclosure for this sale is available in the SEC filing. Insiders sold a total of 6,225 shares of company stock valued at $10,166,297 over the last three months. 0.21% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in SNDK. Valley Wealth Managers Inc. bought a new stake in Sandisk during the 1st quarter worth about $25,000. Whittier Trust Co. bought a new stake in shares of Sandisk during the fourth quarter valued at approximately $26,000. Greenline Wealth Management LLC acquired a new stake in shares of Sandisk in the fourth quarter valued at approximately $26,000. Chung Wu Investment Group LLC acquired a new stake in shares of Sandisk in the fourth quarter valued at approximately $27,000. Finally, IMG Wealth Management Inc. bought a new position in Sandisk in the 1st quarter worth approximately $29,000.

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.