Sandisk (NASDAQ:SNDK) Stock Falls 6% – Here’s What Happened

Sandisk Corporation (NASDAQ:SNDK) was down 6% during mid-day trading on Monday. The company traded as low as $1,464.43 and last traded at $1,487.33. Approximately 8,636,081 shares changed hands during trading, a decline of 43% from the average daily volume of 15,202,261 shares. The stock had previously closed at $1,581.82.

More Sandisk News

Here are the key news stories impacting Sandisk this week:

• Positive Sentiment: Sandisk received a GMIF2026 award for an AI-storage NAND breakthrough, reinforcing its positioning in data-center storage and artificial-intelligence infrastructure. Sandisk Wins GMIF2026 Award For AI Storage NAND Breakthrough
• Positive Sentiment: Some investors remain constructive on Sandisk’s fundamentals, citing strong AI-driven storage demand, high free cash flow, no debt, and longer-term contracts that could provide greater NAND pricing and volume visibility. Analysts have also maintained bullish targets following the stock’s substantial 2026 rally. Sandisk: 12% Cash Return, With Earnings Up Next
• Neutral Sentiment: Sandisk is scheduled to report fiscal first-quarter 2027 results on October 29. Its prior quarter was exceptionally strong, with revenue of $8.97 billion and guidance for $10.3 billion–$10.8 billion of revenue and $44–$46 of non-GAAP earnings per share. The upcoming report will test whether pricing and margins can remain elevated. Sandisk Falls as Pre-Earnings Caution Weighs on Shares
• Negative Sentiment: China’s CXMT reportedly made progress on a denser memory-chip design, raising concerns that increased Chinese competition could pressure NAND and DRAM pricing and weaken the broader AI-memory trade. The news triggered a sector-wide selloff affecting Sandisk, Micron, SK Hynix and related exchange-traded funds. Memory Stocks Lose $100 Billion as Selloff Worsens
• Negative Sentiment: Valuation and earnings-cycle concerns are intensifying after Sandisk’s sharp rally. Roughly two-thirds of the company’s latest sequential revenue growth came from higher pricing, prompting investors to question whether current earnings can persist through the next memory downturn. Sandisk’s Sales Fell in the Last Flash Memory Downturn
• Negative Sentiment: Pre-earnings de-risking and reported insider selling are adding pressure as traders lock in gains and await confirmation that recent pricing strength and margins are sustainable.

Analyst Ratings Changes

SNDK has been the topic of several research reports. Cantor Fitzgerald reissued an “overweight” rating and set a $2,900.00 price objective (up from $1,800.00) on shares of Sandisk in a research note on Monday, August 10th. Susquehanna decreased their target price on shares of Sandisk from $3,050.00 to $2,745.00 and set a “positive” rating for the company in a research note on Thursday, August 6th. Wells Fargo & Company lifted their target price on shares of Sandisk from $1,400.00 to $1,550.00 and gave the company an “equal weight” rating in a report on Thursday, August 13th. Weiss Ratings raised Sandisk from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday, September 24th. Finally, Bank of America boosted their price target on Sandisk from $2,100.00 to $2,500.00 and gave the stock a “buy” rating in a research report on Wednesday, July 1st. Two investment analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Sandisk has a consensus rating of “Moderate Buy” and a consensus price target of $2,120.65.

Sandisk Stock Down 6.0%

The firm has a fifty day moving average price of $1,593.00 and a two-hundred day moving average price of $1,476.03. The stock has a market capitalization of $214.96 billion, a P/E ratio of 20.40, a P/E/G ratio of 0.16 and a beta of 5.23.

Sandisk (NASDAQ:SNDK) last announced its quarterly earnings results on Wednesday, August 5th. The data storage provider reported $39.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $33.28 by $5.97. The company had revenue of $8.96 billion for the quarter. Sandisk had a net margin of 56.47% and a return on equity of 87.84%. The business’s revenue for the quarter was up 371.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.29 EPS. Sandisk has set its Q1 2027 guidance at 44.000-46.000 EPS. Sell-side analysts anticipate that Sandisk Corporation will post 208.94 earnings per share for the current fiscal year.

Sandisk declared that its Board of Directors has initiated a stock repurchase program on Wednesday, August 5th that permits the company to buy back $14.00 billion in outstanding shares. This repurchase authorization permits the data storage provider to buy up to 6.6% of its shares through open market purchases. Stock repurchase programs are generally an indication that the company’s board believes its stock is undervalued.

Insider Activity

In other news, insider Bernard Shek sold 2,308 shares of the stock in a transaction that occurred on Tuesday, September 8th. The shares were sold at an average price of $1,767.33, for a total transaction of $4,078,997.64. Following the sale, the insider owned 25,305 shares in the company, valued at $44,722,285.65. This represents a 8.36% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO David Goeckeler sold 33,841 shares of the firm’s stock in a transaction that occurred on Thursday, September 17th. The shares were sold at an average price of $1,574.21, for a total transaction of $53,272,840.61. Following the sale, the chief executive officer directly owned 382,865 shares of the company’s stock, valued at $602,709,911.65. This trade represents a 8.12% decrease in their position. 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. In the last three months, insiders have sold 77,899 shares of company stock worth $121,159,122. Corporate insiders own 0.21% of the company’s stock.

Hedge Funds Weigh In On Sandisk

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. BlackRock Inc. purchased a new stake in shares of Sandisk during the second quarter valued at $23,408,732,000. Evergreen Quality Fund GP Ltd. bought a new stake in Sandisk in the 4th quarter worth about $255,848,000. Arrowstreet Capital Limited Partnership raised 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 worth $825,608,000 after buying an additional 828,332 shares during the last quarter. Situational Awareness LP raised its position in Sandisk by 42.4% in the 2nd quarter. Situational Awareness LP now owns 2,495,344 shares of the data storage provider’s stock worth $5,673,739,000 after buying an additional 743,325 shares during the last quarter. Finally, Bank of New York Mellon Corp purchased a new position in Sandisk in the 2nd quarter worth about $1,621,353,000.

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.