Sandisk (NASDAQ:SNDK) Stock Price Down 5.7% – Here’s Why

Sandisk Corporation (NASDAQ:SNDK)’s share price traded down 5.7% during mid-day trading on Tuesday . The company traded as low as $588.95 and last traded at $590.59. 17,800,471 shares were traded during mid-day trading, a decline of 10% from the average session volume of 19,679,723 shares. The stock had previously closed at $626.56.

Key Headlines Impacting Sandisk

Here are the key news stories impacting Sandisk this week:

• Positive Sentiment: Traders flagged a “Power Inflow” (order‑flow) bullish signal that helped lift the stock as momentum players and flow‑sensitive funds bought shares. Sandisk Shares Rise Over 3% Following Key Trading Signal
• Positive Sentiment: Memory‑sector strength after Kioxia’s results boosted investor appetite for NAND names, providing a sector tailwind for Sandisk. As Kioxia earnings kick memory stocks into gear, should you buy SanDisk here?
• Positive Sentiment: Recent fundamentals remain supportive: Sandisk beat estimates in its last quarter (EPS and revenue) and reported strong YoY revenue growth, a backdrop that keeps investors focused on long‑term demand from AI/data center customers. (See company filings and reports.)
• Neutral Sentiment: Management will appear at several investor conferences (Bernstein, Morgan Stanley, Cantor), which could provide fresh guidance or color but are not immediate catalysts by themselves. Sandisk Announces Participation in Investor Conferences
• Neutral Sentiment: Shares briefly rebounded after the initial selloff tied to the shareholder offering, indicating short‑term technical recovery even as headline selling persisted. SanDisk Stock Fights Back From Early Losses After Offering
• Negative Sentiment: Western Digital priced a large secondary offering of ~5.82M Sandisk shares at $545 per share (WDC sells; Sandisk receives no proceeds). The $3.17B stake sale increases selling pressure and raised near‑term supply concerns, which knocked the stock lower when announced. Sandisk Announces Pricing of Secondary Offering of Common Stock
• Negative Sentiment: Multiple commentaries warn Sandisk may be overvalued and that a memory‑cycle bust could come sooner than expected — bearish views that can amplify selling during profit‑taking or when supply news emerges. Sandisk Is Grossly Overvalued As Memory Chip Shortage Likely Transitory Sandisk: The Bust Cycle Could Be Coming Sooner Than Expected
• Negative Sentiment: News coverage of Western Digital’s planned $3.17B share sale sparked an immediate price drop as investors digested the enlarged float and potential for further selling. Western Digital to sell $3.17 billion stake in Sandisk

Wall Street Analysts Forecast Growth

Several analysts have weighed in on SNDK shares. Fox Advisors upgraded shares of Sandisk from a “hold” rating to a “strong-buy” rating in a research note on Friday, November 7th. Cantor Fitzgerald lifted their price target on shares of Sandisk from $550.00 to $800.00 and gave the company an “overweight” rating in a research report on Friday, January 30th. Susquehanna boosted their price target on Sandisk from $250.00 to $300.00 and gave the company a “positive” rating in a research note on Monday, December 8th. China Renaissance began coverage on Sandisk in a research note on Friday, December 5th. They set a “buy” rating and a $322.00 price objective on the stock. Finally, Sanford C. Bernstein lifted their price objective on Sandisk from $300.00 to $580.00 and gave the company an “outperform” rating in a report on Wednesday, January 14th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Sandisk currently has an average rating of “Moderate Buy” and a consensus target price of $542.85.

Sandisk Stock Up 3.4%

The firm has a 50 day simple moving average of $418.22 and a two-hundred day simple moving average of $233.84. The stock has a market capitalization of $91.67 billion and a P/E ratio of -81.83. The company has a quick ratio of 1.92, a current ratio of 3.11 and a debt-to-equity ratio of 0.06.

Sandisk (NASDAQ:SNDK) last posted its quarterly earnings results on Thursday, January 29th. The data storage provider reported $6.20 EPS for the quarter, topping analysts’ consensus estimates of $3.31 by $2.89. The company had revenue of $3.03 billion during the quarter, compared to analysts’ expectations of $2.67 billion. Sandisk had a positive return on equity of 10.11% and a negative net margin of 11.66%.The company’s revenue for the quarter was up 61.2% compared to the same quarter last year.

Insider Activity

In related news, Director Necip Sayiner sold 1,271 shares of the stock in a transaction that occurred on Wednesday, December 3rd. The shares were sold at an average price of $195.14, for a total value of $248,022.94. Following the completion of the transaction, the director owned 3,479 shares of the company’s stock, valued at $678,892.06. This represents a 26.76% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 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 modified their holdings of SNDK. Vanguard Group Inc. bought a new position in shares of Sandisk in the 3rd quarter valued at $1,970,388,000. State Street Corp acquired a new position in Sandisk in the 3rd quarter worth about $491,053,000. Arrowstreet Capital Limited Partnership bought a new position in Sandisk in the third quarter valued at about $297,293,000. Norges Bank bought a new position in Sandisk in the fourth quarter valued at about $518,889,000. Finally, Bank of America Corp DE acquired a new stake in shares of Sandisk during the third quarter valued at about $190,425,000.

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.