Sandisk (NASDAQ:SNDK) Shares Gap Down – Time to Sell?

Sandisk Corporation (NASDAQ:SNDK) shares gapped down prior to trading on Friday . The stock had previously closed at $2,335.00, but opened at $2,170.00. Sandisk shares last traded at $2,252.0120, with a volume of 2,362,613 shares changing hands.

Trending Headlines about Sandisk

Here are the key news stories impacting Sandisk this week:

• Positive Sentiment: Micron’s strong quarterly results and upbeat AI-demand outlook continue to highlight a tight memory market, which has helped keep sentiment supportive for Sandisk and peers. Micron’s Blowout Q3 Report Ripples Through Memory Stocks SanDisk, Western Digital
• Positive Sentiment: Citi raised its price target on Sandisk to $2,500 and reiterated a Buy rating, reinforcing the bullish case that AI memory demand remains strong. Citi Just Raised Its Price Target on SanDisk Stock. Here’s Why.
• Neutral Sentiment: Some analysts still view Sandisk as a strong momentum and AI-infrastructure name, with coverage pointing to continued demand tailwinds for the flash-storage business. Are You Looking for a Top Momentum Pick? Why Sandisk Corporation (SNDK) is a Great Choice
• Negative Sentiment: Several reports say the memory rally is cooling, with traders locking in gains after Sandisk’s sharp run-up and premarket weakness reflecting profit-taking. Why Is Sandisk Stock Falling Friday?
• Negative Sentiment: 24/7 Wall St. published a bearish price-target note arguing Sandisk has rallied too far too fast and may have 20%+ downside from current levels. Prediction: SanDisk Has Rallied Too Far, Too Fast. The Price Target Warns of 20%+ Downside

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the stock. Sanford C. Bernstein boosted their target price on shares of Sandisk from $1,250.00 to $1,700.00 and gave the stock an “outperform” rating in a research note on Monday, May 4th. The Goldman Sachs Group reissued a “buy” rating and set a $1,200.00 price target on shares of Sandisk in a research report on Friday, May 1st. UBS Group set a $1,700.00 price objective on Sandisk in a report on Monday, May 4th. Wedbush upped their price target on Sandisk from $740.00 to $1,200.00 and gave the company an “outperform” rating in a research note on Wednesday, April 29th. Finally, Arete Research raised shares of Sandisk from a “hold” rating to a “strong-buy” rating in a research note on Monday, April 13th. Three research analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $1,603.29.

Sandisk Trading Down 7.4%

The company has a fifty day moving average of $1,522.03 and a 200-day moving average of $872.58. The stock has a market cap of $320.11 billion, a PE ratio of 74.76 and a beta of 4.87.

Sandisk (NASDAQ:SNDK) last announced its earnings results on Thursday, April 30th. The data storage provider reported $23.41 earnings per share for the quarter, topping the consensus estimate of $14.17 by $9.24. Sandisk had a net margin of 34.19% and a return on equity of 44.06%. The firm had revenue of $5.95 billion for the quarter. During the same period in the previous year, the company earned ($0.30) earnings per share. Sandisk’s quarterly revenue was up 251.0% on a year-over-year basis. Sandisk has set its Q4 2026 guidance at 30.000-33.000 EPS. As a group, research analysts anticipate that Sandisk Corporation will post 64.01 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CAO Michael Pokorny sold 2,446 shares of the business’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 completion of the transaction, the chief accounting officer directly owned 22,375 shares of the company’s stock, valued at $31,910,777.50. The trade was a 9.85% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Bernard Shek sold 600 shares of the company’s stock in a transaction dated Wednesday, June 3rd. The stock was sold at an average price of $1,736.00, for a total value of $1,041,600.00. Following the sale, the insider owned 32,232 shares in the company, valued at approximately $55,954,752. This trade represents a 1.83% 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. Insiders sold a total of 5,625 shares of company stock worth $8,913,497 over the last ninety days. Insiders own 0.21% of the company’s stock.

Institutional Trading of Sandisk

A number of large investors have recently made changes to their positions in SNDK. Valley Wealth Managers Inc. acquired a new stake in Sandisk during the 1st quarter worth $25,000. Whittier Trust Co. purchased a new position in Sandisk in the 4th quarter valued at $26,000. Greenline Wealth Management LLC acquired a new position in Sandisk in the 4th quarter valued at $26,000. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new position in Sandisk during the 3rd quarter worth $27,000. Finally, Chung Wu Investment Group LLC purchased a new position in Sandisk during the 4th quarter worth $27,000.

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.