Sandisk (NASDAQ:SNDK) Trading 5.8% Higher – Time to Buy?

Sandisk Corporation (NASDAQ:SNDK)’s stock price traded up 5.8% during mid-day trading on Wednesday . The company traded as high as $1,389.28 and last traded at $1,344.29. 11,887,033 shares changed hands during mid-day trading, a decline of 28% from the average daily volume of 16,418,252 shares. The stock had previously closed at $1,271.05.

More Sandisk News

Here are the key news stories impacting Sandisk this week:

• Positive Sentiment: Management presented a long-term model targeting roughly 80% gross margins, 75% operating margins and 50% free-cash-flow margins, alongside mid-to-high-teens revenue growth through 2028–2030. Investors view long-term agreements and AI-related storage demand as potentially reducing NAND’s traditional boom-and-bust cycle. SanDisk investor day signals bullish 80% gross margins through 2030
• Positive Sentiment: Analyst sentiment has strengthened after the presentation. J.P. Morgan began coverage with an Overweight rating and a $2,250 price target, while Wedbush reaffirmed Outperform with a $2,000 target. Citi, Argus and Evercore ISI also remain bullish, with Evercore maintaining a $2,800 target. Sandisk stock tops the S&P 500 as analysts rally behind its AI expansion
• Positive Sentiment: The broader semiconductor market is supporting SNDK. Softer-than-expected producer-price data reduced concerns about near-term rate pressure, while memory stocks rallied on improving AI infrastructure demand. JPMorgan says there are more gains ahead
• Neutral Sentiment: Sandisk’s recent earnings momentum remains a key backdrop: quarterly EPS substantially exceeded estimates and revenue surged year over year. However, the stock has already risen more than 500% in 2026, leaving valuation and execution expectations exceptionally high.
• Negative Sentiment: Some analysts question whether current margins can persist. Potential NAND oversupply, aggressive competition from China’s Yangtze Memory Technologies, additional industry capacity expected from 2028 and Sandisk’s lack of DRAM or HBM exposure could renew cyclicality and pressure prices. Sandisk’s margins look like software. Can they last?

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. Weiss Ratings downgraded Sandisk from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Tuesday, July 21st. Morgan Stanley boosted their price target on shares of Sandisk from $1,100.00 to $1,750.00 and gave the stock an “overweight” rating in a research report on Wednesday, June 3rd. Evercore reiterated an “outperform” rating on shares of Sandisk in a research report on Thursday. Royal Bank Of Canada increased their price objective on shares of Sandisk from $1,300.00 to $1,600.00 and gave the company a “sector perform” rating in a research report on Friday. Finally, Wells Fargo & Company boosted their target price on shares of Sandisk from $1,400.00 to $1,550.00 and gave the stock an “equal weight” rating in a report on Thursday. Three investment analysts have rated the stock with a Strong Buy rating, twenty have issued a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat.com, Sandisk has an average rating of “Buy” and an average price target of $1,999.27.

Sandisk Stock Up 6.7%

The company has a market capitalization of $241.43 billion, a PE ratio of 22.38, a price-to-earnings-growth ratio of 0.13 and a beta of 5.20. The firm’s 50 day simple moving average is $1,666.23 and its 200 day simple moving average is $1,177.84.

Sandisk (NASDAQ:SNDK) last announced its earnings results on Wednesday, August 5th. The data storage provider reported $39.25 earnings per share for the quarter, beating the consensus estimate of $33.28 by $5.97. Sandisk had a net margin of 56.47% and a return on equity of 87.84%. The business had revenue of $8.96 billion for the quarter. During the same period in the prior year, the company posted $0.29 EPS. The company’s revenue was up 371.6% compared to the same quarter last year. Sandisk has set its Q1 2027 guidance at 44.000-46.000 EPS. As a group, sell-side analysts predict that Sandisk Corporation will post 208.92 EPS for the current fiscal year.

Sandisk announced that its Board of Directors has initiated a stock buyback program on Wednesday, August 5th that permits the company to repurchase $14.00 billion in shares. This repurchase authorization permits the data storage provider to reacquire up to 6.6% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s board of directors believes its shares are undervalued.

Insider Activity at Sandisk

In other Sandisk news, EVP Alper Ilkbahar sold 2,000 shares of the business’s stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $1,756.58, for a total transaction of $3,513,160.00. Following the completion of the transaction, the executive vice president owned 52,677 shares in the company, valued at $92,531,364.66. The trade was a 3.66% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Bernard Shek sold 600 shares of the company’s stock in a transaction that occurred on Monday, August 3rd. The shares were sold at an average price of $1,162.16, for a total value of $697,296.00. Following the transaction, the insider directly owned 30,915 shares in the company, valued at approximately $35,928,176.40. This represents a 1.90% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 3,800 shares of company stock valued at $6,504,856 in the last 90 days. Company insiders own 0.21% of the company’s stock.

Institutional Trading of Sandisk

A number of hedge funds and other institutional investors have recently bought and sold shares of SNDK. BlackRock Inc. bought a new position in shares of Sandisk in the second quarter worth about $23,408,732,000. 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 buying an additional 904,933 shares in the last quarter. Geode Capital Management LLC boosted its position in Sandisk by 44.9% in the 4th quarter. Geode Capital Management LLC now owns 3,655,860 shares of the data storage provider’s stock valued at $866,310,000 after buying an additional 1,133,276 shares during the period. Arrowstreet Capital Limited Partnership boosted its position in 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 valued at $825,608,000 after buying an additional 828,332 shares during the period. Finally, Morgan Stanley grew its stake 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 in 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.