Bernard Shek Sells 600 Shares of Sandisk (NASDAQ:SNDK) Stock

Sandisk Corporation (NASDAQ:SNDK) insider Bernard Shek sold 600 shares of the company’s stock in a transaction on Wednesday, June 3rd. The shares were sold at an average price of $1,736.00, for a total value of $1,041,600.00. Following the completion of the sale, the insider owned 32,232 shares in the company, valued at $55,954,752. This represents a 1.83% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Sandisk Stock Down 11.4%

Shares of NASDAQ:SNDK opened at $1,559.32 on Friday. Sandisk Corporation has a 52-week low of $38.53 and a 52-week high of $1,861.00. The stock’s fifty day simple moving average is $1,174.63 and its 200-day simple moving average is $695.82. The company has a market capitalization of $230.92 billion, a P/E ratio of 54.20 and a beta of 4.87.

Sandisk (NASDAQ:SNDK) last issued its quarterly earnings data on Thursday, April 30th. The data storage provider reported $23.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $14.17 by $9.24. Sandisk had a return on equity of 44.06% and a net margin of 34.19%.The business had revenue of $5.95 billion for the quarter. During the same quarter in the prior year, the company earned ($0.30) earnings per share. The firm’s revenue was up 251.0% compared to the same quarter last year. Sandisk has set its Q4 2026 guidance at 30.000-33.000 EPS. On average, sell-side analysts anticipate that Sandisk Corporation will post 63.58 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on SNDK shares. Barclays upgraded Sandisk from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $1,200.00 to $2,300.00 in a research report on Tuesday, May 26th. Mizuho increased their target price on Sandisk from $1,625.00 to $1,825.00 and gave the stock an “outperform” rating in a research report on Thursday, May 28th. Wedbush increased their target price on Sandisk from $740.00 to $1,200.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 29th. Weiss Ratings downgraded Sandisk from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Wednesday. Finally, Morgan Stanley increased their target price on Sandisk from $1,100.00 to $1,750.00 and gave the stock an “overweight” rating in a research report on Wednesday. Three analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat, Sandisk currently has a consensus rating of “Moderate Buy” and an average price target of $1,398.27.

Key Stories Impacting Sandisk

Here are the key news stories impacting Sandisk this week:

• Positive Sentiment: Analyst commentary remains constructive, with reports citing bullish views on Sandisk and Morgan Stanley lifting its price target by 59%, signaling expectations for further upside from AI-driven memory demand. SNDK stock hits record high: Morgan Stanley raises PT by 59%, sees further upside ahead
• Positive Sentiment: Several bullish pieces argue Sandisk’s AI storage opportunity is still early, highlighting strong recent revenue growth, high margins, and a favorable memory-supply backdrop that could support fundamentals. Sandisk’s AI Storage Moment Is Just Getting Started
• Neutral Sentiment: Market commentary notes Sandisk was among the standout semiconductor winners this year, but that outsized rally is also making the shares more vulnerable to profit-taking and valuation concerns. Sandisk stock is firing on all cylinders: is a day of reckoning coming?
• Neutral Sentiment: Another article suggests analysts still see Sandisk as a key AI memory beneficiary, reinforcing the long-term demand story even as short-term trading turns volatile. These Experts Say the Memory-Stock Runup May Not Be Over Yet
• Negative Sentiment: Friday’s selloff appears driven by a “parabolic” unwind in semiconductor leaders, with Sandisk and peers Micron and Marvell sliding as investors reduce exposure to overheated AI trades. Micron, Sandisk stocks slide as traders exit high-flying AI plays
• Negative Sentiment: New competition concerns and softer sentiment across tech hardware added to the weakness, suggesting near-term momentum could fade if the sector rotation continues. Micron (MU), SanDisk (SNDK) Stocks Slide after Broadcom Outlook and New Competition Threat

Hedge Funds Weigh In On Sandisk

A number of large investors have recently modified their holdings of the company. Parallel Advisors LLC raised its holdings in shares of Sandisk by 233.3% in the 1st quarter. Parallel Advisors LLC now owns 1,430 shares of the data storage provider’s stock worth $909,000 after purchasing an additional 1,001 shares during the period. NewEdge Advisors LLC raised its holdings in shares of Sandisk by 187.2% in the 1st quarter. NewEdge Advisors LLC now owns 18,129 shares of the data storage provider’s stock worth $11,518,000 after purchasing an additional 11,817 shares during the period. Keel Point LLC purchased a new position in shares of Sandisk in the 1st quarter worth about $314,000. Glenmede Trust Co. NA raised its holdings in shares of Sandisk by 76.4% in the 1st quarter. Glenmede Trust Co. NA now owns 2,754 shares of the data storage provider’s stock worth $1,750,000 after purchasing an additional 1,193 shares during the period. Finally, Liontrust Investment Partners LLP purchased a new position in shares of Sandisk in the 1st quarter worth about $11,892,000.

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.