Sandisk (NASDAQ:SNDK) Stock Price Up 22% – What’s Next?

Sandisk Corporation (NASDAQ:SNDK)’s stock price rose 22% during mid-day trading on Thursday . The stock traded as high as $2,348.00 and last traded at $2,335.00. Approximately 14,718,731 shares were traded during trading, a decline of 12% from the average daily volume of 16,763,578 shares. The stock had previously closed at $1,914.46.

Key Headlines Impacting Sandisk

Here are the key news stories impacting Sandisk this week:

• Positive Sentiment: Citi raised its price target on Sandisk to $2,500 from $2,025 and reiterated a Buy rating, reinforcing bullish sentiment on the stock. Citi Just Raised Its Price Target on SanDisk Stock. Here’s Why.
• Positive Sentiment: Micron’s stronger-than-expected results and upbeat guidance are lifting the entire memory-chip group, including Sandisk, as investors view it as confirmation that AI-driven demand is still accelerating. Micron’s Blowout Q3 Report Ripples Through Memory Stocks SanDisk, Western Digital
• Positive Sentiment: Analysts and market commentators are increasingly framing Sandisk as a momentum and AI-infrastructure winner, which is helping extend the stock’s rally. Are You Looking for a Top Momentum Pick? Why Sandisk Corporation (SNDK) is a Great Choice
• Neutral Sentiment: Some coverage warns that Sandisk has already run very hot and may be vulnerable to pullbacks after a huge year-to-date surge, which could limit upside in the near term. SanDisk Has Run Hot, The Price Target Carries a Warning
• Negative Sentiment: One comparison note says Dell looks more attractive than Sandisk on valuation and AI ecosystem breadth, suggesting Sandisk may face competition for investor attention within the AI infrastructure trade. SNDK vs. DELL: Which AI Infrastructure Stock is the Better Buy?

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the company. Melius Research set a $2,350.00 target price on Sandisk in a research note on Monday, May 18th. Weiss Ratings downgraded Sandisk from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday, June 3rd. Morgan Stanley lifted their price target on Sandisk from $1,100.00 to $1,750.00 and gave the company an “overweight” rating in a report on Wednesday, June 3rd. UBS Group set a $1,700.00 price target on Sandisk in a research note on Monday, May 4th. Finally, Royal Bank Of Canada increased their price objective on Sandisk from $650.00 to $1,000.00 and gave the stock a “sector perform” rating in a report on Friday, May 1st. Three research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $1,603.29.

Sandisk Stock Performance

The company has a market cap of $345.79 billion, a P/E ratio of 81.16 and a beta of 4.87. The firm has a 50 day moving average price of $1,494.22 and a 200-day moving average price of $857.75.

Sandisk (NASDAQ:SNDK) last issued its quarterly earnings data on Thursday, April 30th. The data storage provider reported $23.41 earnings per share for the quarter, beating analysts’ consensus estimates 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 period in the previous year, the business posted ($0.30) earnings per share. The firm’s revenue was up 251.0% on a year-over-year basis. Sandisk has set its Q4 2026 guidance at 30.000-33.000 EPS. On average, sell-side analysts forecast that Sandisk Corporation will post 64.01 EPS for the current fiscal year.

Insider Buying and Selling

In other news, EVP Alper Ilkbahar sold 2,000 shares of the business’s stock in a transaction on Monday, June 1st. The shares were sold at an average price of $1,756.58, for a total value of $3,513,160.00. Following the completion of the sale, the executive vice president directly owned 52,677 shares in the company, valued at approximately $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 can be accessed through this hyperlink. Also, CAO Michael Pokorny sold 2,446 shares of the company’s stock in a transaction on Tuesday, May 12th. The stock was sold at an average price of $1,426.18, for a total transaction of $3,488,436.28. Following the sale, the chief accounting officer directly owned 22,375 shares of the company’s stock, valued at approximately $31,910,777.50. This represents a 9.85% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 5,625 shares of company stock worth $8,913,497. 0.21% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Sandisk

Hedge funds have recently bought and sold shares of the company. GHP Investment Advisors Inc. raised its stake in Sandisk by 12.0% during the 1st quarter. GHP Investment Advisors Inc. now owns 121 shares of the data storage provider’s stock valued at $77,000 after purchasing an additional 13 shares during the last quarter. Blair William & Co. IL boosted its holdings in Sandisk by 0.3% in the 4th quarter. Blair William & Co. IL now owns 5,287 shares of the data storage provider’s stock valued at $1,255,000 after purchasing an additional 17 shares during the period. Empirical Finance LLC grew its position in Sandisk by 0.7% in the 1st quarter. Empirical Finance LLC now owns 3,535 shares of the data storage provider’s stock worth $2,246,000 after purchasing an additional 24 shares during the last quarter. Basecamp Wealth Advisors LLC increased its holdings in shares of Sandisk by 7.8% during the 1st quarter. Basecamp Wealth Advisors LLC now owns 333 shares of the data storage provider’s stock worth $212,000 after purchasing an additional 24 shares during the period. Finally, SOA Wealth Advisors LLC. raised its position in shares of Sandisk by 108.0% during the first quarter. SOA Wealth Advisors LLC. now owns 52 shares of the data storage provider’s stock valued at $33,000 after buying an additional 27 shares during 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.