Sandisk (NASDAQ:SNDK) Shares Down 11% – What’s Next?

Sandisk Corporation (NASDAQ:SNDK)’s stock price fell 11% during mid-day trading on Monday . The company traded as low as $1,222.01 and last traded at $1,278.23. 20,922,027 shares changed hands during mid-day trading, an increase of 28% from the average daily volume of 16,338,837 shares. The stock had previously closed at $1,436.56.

More Sandisk News

Here are the key news stories impacting Sandisk this week:

• Positive Sentiment: SanDisk’s recent results provide fundamental support: the company reported quarterly EPS of $23.41 versus a $14.17 consensus estimate, while revenue increased 251% year over year. Analysts and investors are watching for another strong report on August 5. Should You Buy Sandisk Stock Before It Reports Earnings on Aug. 5?
• Positive Sentiment: Strong demand for AI infrastructure, continued memory shortages and expectations for robust earnings growth remain longer-term bullish arguments for SanDisk. 4 High-Growth AI Infrastructure Stocks to Buy for Long-Term Gains

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on SNDK shares. Arete Research raised shares of Sandisk from a “hold” rating to a “strong-buy” rating in a research note on Monday, April 13th. Royal Bank Of Canada boosted their target price on shares of Sandisk from $650.00 to $1,000.00 and gave the company a “sector perform” rating in a report on Friday, May 1st. UBS Group set a $1,700.00 price target on shares of Sandisk in a research report on Monday, May 4th. Barclays raised shares of Sandisk from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $1,200.00 to $2,300.00 in a research note on Tuesday, May 26th. Finally, Melius Research set a $2,350.00 price target on shares of Sandisk in a report on Monday, May 18th. Two investment analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and six have given a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $1,811.38.

Sandisk Trading Down 11.0%

The firm has a market capitalization of $189.29 billion, a price-to-earnings ratio of 44.43 and a beta of 4.74. The firm has a 50 day moving average price of $1,754.03 and a two-hundred day moving average price of $1,092.96.

Sandisk (NASDAQ:SNDK) last posted 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 firm had revenue of $5.95 billion during the quarter. During the same period last year, the company posted ($0.30) EPS. The firm’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. As a group, research analysts forecast that Sandisk Corporation will post 64.52 earnings per share for the current year.

Insider Buying and Selling at Sandisk

In related news, CAO Michael Pokorny sold 2,446 shares of Sandisk stock in a transaction on Tuesday, May 12th. The shares were sold at an average price of $1,426.18, for a total transaction of $3,488,436.28. Following the transaction, the chief accounting officer owned 22,375 shares in the company, valued at approximately $31,910,777.50. The trade was a 9.85% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Bernard Shek sold 600 shares of the company’s stock in a transaction on Wednesday, July 1st. The stock was sold at an average price of $2,088.00, for a total transaction of $1,252,800.00. Following the sale, the insider directly owned 31,515 shares of the company’s stock, valued at approximately $65,803,320. This trade represents a 1.87% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 6,225 shares of company stock worth $10,166,297 over the last three months. 0.21% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the stock. State Street Corp grew its stake in shares of Sandisk by 20.7% in the fourth quarter. State Street Corp now owns 5,281,522 shares of the data storage provider’s stock valued at $1,253,728,000 after buying an additional 904,933 shares in the last quarter. Geode Capital Management LLC lifted its position in Sandisk by 44.9% during the 4th quarter. Geode Capital Management LLC now owns 3,655,860 shares of the data storage provider’s stock worth $866,310,000 after acquiring an additional 1,133,276 shares in the last quarter. Arrowstreet Capital Limited Partnership lifted its position in Sandisk by 31.3% during 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 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 during the period. Finally, Norges Bank purchased a new position in Sandisk in the 4th quarter worth approximately $518,889,000.

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.