Sandisk (NASDAQ:SNDK) Shares Down 22.3% – Should You Sell?

Sandisk Corporation (NASDAQ:SNDK) shares dropped 22.3% during mid-day trading on Thursday. The company traded as low as $803.97 and last traded at $806.43. 29,465,930 shares were traded during trading, an increase of 99% from the average session volume of 14,792,248 shares. The stock had previously closed at $1,037.40.

Key Headlines Impacting Sandisk

Here are the key news stories impacting Sandisk this week:

• Positive Sentiment: SanDisk’s latest quarter beat estimates, with $11.03 billion in revenue and $49.51 in EPS. One analyst commentary also pointed to $88.9 billion in remaining performance obligations and long-term agreements that lock in substantial future NAND volume, supporting revenue visibility. Article: SanDisk: A 35 Percent Stock Decline, But RPO Tells a Different Story
• Neutral Sentiment: SanDisk’s 14-day RSI fell to 26.6, its most oversold reading since April 2025. That signals intense selling and could precede a rebound, but is not by itself evidence that the decline has ended. Article: SanDisk Stock RSI Hits Most Oversold Level Since April 2025
• Negative Sentiment: The main pressure is a broader retreat from AI and memory shares. Investors fear election-driven policy shifts could slow data-center investment and chip demand, extending the memory-sector selloff. Article: SanDisk Leads Memory Stocks Lower: A Look Inside the Rout
• Negative Sentiment: The market’s concerns are weighing on SNDK despite continued company growth: investors are reassessing whether AI infrastructure spending can sustain its current pace and support high expectations for memory demand. Article: Micron, SanDisk, SK Hynix Plunge as Memory Stocks Selloff Intensifies

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on SNDK shares. Citigroup restated a “buy” rating on shares of Sandisk in a report on Thursday, October 1st. Argus upgraded shares of Sandisk from a “hold” rating to a “buy” rating and set a $1,600.00 target price for the company in a research note on Monday, August 10th. China Renaissance boosted their target price on shares of Sandisk from $2,000.00 to $2,250.00 and gave the stock a “buy” rating in a research report on Wednesday, August 19th. Mizuho increased their price target on shares of Sandisk from $1,875.00 to $2,050.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 6th. Finally, Royal Bank Of Canada dropped their price target on shares of Sandisk from $1,600.00 to $1,400.00 and set a “sector perform” rating on the stock in a research note on Friday, October 30th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-two have given a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat.com, Sandisk has a consensus rating of “Moderate Buy” and a consensus target price of $2,056.23.

Sandisk Stock Down 22.3%

The company has a market capitalization of $114.75 billion, a P/E ratio of 6.46, a PEG ratio of 0.09 and a beta of 5.66. The firm has a 50-day moving average price of $1,531.29 and a two-hundred day moving average price of $1,261.10.

Shares of Sandisk are scheduled to split on the morning of Friday, November 20th. The 8-1 split was announced on Thursday, October 29th. The newly created shares will be payable to shareholders after the market closes on Thursday, November 19th.

Sandisk (NASDAQ:SNDK) last announced its quarterly earnings data on Thursday, October 29th. The data storage provider reported $49.51 earnings per share for the quarter, topping the consensus estimate of $46.19 by $3.32. The company had revenue of $11.03 billion for the quarter. Sandisk had a return on equity of 125.70% and a net margin of 67.04%. Sandisk’s revenue for the quarter was up 23.0% compared to the same quarter last year. During the same period in the previous year, the business posted $1.22 EPS. On average, analysts predict that Sandisk Corporation will post 216.29 EPS for the current fiscal year.

Sandisk announced that its board has approved a stock buyback plan on Wednesday, August 5th that permits the company to repurchase $14 billion in shares. This repurchase authorization permits the data storage provider to repurchase up to 6.6% of its stock through open market purchases. Share repurchase plans are generally a sign that the company’s board believes its stock is undervalued.

Insider Transactions at Sandisk

In other Sandisk news, 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 in the company, valued at approximately $602,709,911.65. This trade represents a 8.12% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Bernard Shek sold 600 shares of Sandisk stock in a transaction that occurred on Monday, November 2nd. The shares were sold at an average price of $1,158.26, for a total transaction of $694,956.00. Following the completion of the transaction, the insider directly owned 24,666 shares in the company, valued at approximately $28,569,641.16. The trade was a 2.37% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 77,899 shares of company stock valued at $121,156,782. 0.29% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the business. BlackRock Inc. acquired a new stake in Sandisk during the second quarter worth about $23,408,732,000. Situational Awareness LP boosted its stake in Sandisk by 42.4% in the second quarter. Situational Awareness LP now owns 2,495,344 shares of the data storage provider’s stock valued at $5,673,739,000 after acquiring an additional 743,325 shares during the period. Wellington Management Group LLP boosted its stake in Sandisk by 71.2% in the second quarter. Wellington Management Group LLP now owns 1,066,886 shares of the data storage provider’s stock valued at $2,425,811,000 after acquiring an additional 443,714 shares during the period. Amundi boosted its stake in Sandisk by 135.5% in the first quarter. Amundi now owns 872,632 shares of the data storage provider’s stock valued at $554,418,000 after acquiring an additional 502,166 shares during the period. Finally, Assenagon Asset Management S.A. grew its holdings in shares of Sandisk by 33.3% during the third quarter. Assenagon Asset Management S.A. now owns 828,900 shares of the data storage provider’s stock valued at $1,442,195,000 after purchasing an additional 207,051 shares during the last quarter.

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.