Sandisk (NASDAQ:SNDK) Stock Price Down 14.1% – Here’s Why

Sandisk Corporation (NASDAQ:SNDK) dropped 14.1% on Thursday . The company traded as low as $1,693.00 and last traded at $1,745.00. Approximately 17,130,969 shares were traded during trading, an increase of 3% from the average session volume of 16,637,529 shares. The stock had previously closed at $2,032.22.

Sandisk News Roundup

Here are the key news stories impacting Sandisk this week:

• Positive Sentiment: Bank of America raised its price target on SanDisk to $2,500 and reiterated a Buy rating, saying NAND supply-demand tightness could persist through 2027 and support stronger pricing. SanDisk’s Stock Supercycle Just Got Another Boost: BofA Raises Price Tag to $2,500
• Positive Sentiment: Analysts remain constructive on SanDisk’s AI storage demand, with commentary pointing to continued memory boom benefits from data-center buildout and strong enterprise SSD/QLC demand. Can Sandisk’s QLC SSD Portfolio Drive Sustainable Growth Ahead?
• Positive Sentiment: Some market coverage argues the stock’s sharp volatility is actually showing strong dip-buying interest, with repeated rebounds suggesting bulls are still in control. SanDisk’s Volatility May Be Telling Bulls What They Want to Hear
• Neutral Sentiment: Articles comparing SanDisk with Palantir and other AI winners highlight SanDisk’s role in the AI infrastructure stack, but they do not add a new fundamental catalyst today. Palantir vs. SanDisk: Two Paths to AI Riches, One Winner
• Negative Sentiment: Memory and storage stocks are being hit by a broad semiconductor selloff, with investors rotating out of AI hardware and into software after a powerful first-half rally. SanDisk Sinks 11%, Seagate Falls 7%, Micron Slides 4% on Memory Supply-Glut Fears
• Negative Sentiment: Pre-market weakness in SanDisk was also tied to profit-taking across tech and fresh concerns about memory-chip supply glut and broader market caution. Why Micron (MU) and SanDisk (SNDK) Stocks Are Falling in Pre-Market Today

Wall Street Analyst Weigh In

SNDK has been the topic of several recent research reports. Citigroup raised their price target on Sandisk from $2,025.00 to $2,500.00 and gave the company a “buy” rating in a report on Thursday, June 25th. Cantor Fitzgerald lifted their target price on Sandisk from $1,800.00 to $2,900.00 and gave the stock an “overweight” rating in a report on Monday, June 8th. Melius Research set a $2,350.00 price objective on shares of Sandisk in a report on Monday, May 18th. Raymond James Financial reaffirmed an “outperform” rating and set a $1,470.00 price target on shares of Sandisk in a research note on Friday, May 1st. Finally, Sanford C. Bernstein boosted their price target on shares of Sandisk from $1,700.00 to $3,000.00 and gave the stock an “outperform” rating in a research report on Monday. Three research analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, Sandisk presently has an average rating of “Moderate Buy” and an average price target of $1,684.24.

Sandisk Stock Performance

The stock has a market capitalization of $258.42 billion, a P/E ratio of 60.65 and a beta of 4.72. The company’s fifty day simple moving average is $1,618.07 and its two-hundred day simple moving average is $925.59.

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

Insider Buying and Selling

In other news, Director Necip Sayiner sold 579 shares of the stock in a transaction on Friday, May 8th. The stock was sold at an average price of $1,503.11, for a total transaction of $870,300.69. Following the sale, the director directly owned 2,900 shares of the company’s stock, valued at approximately $4,359,019. This represents a 16.64% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Michael Pokorny sold 2,446 shares of the business’s stock in a transaction dated Tuesday, May 12th. The shares were sold at an average price of $1,426.18, for a total value 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 approximately $31,910,777.50. This trade represents a 9.85% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 5,625 shares of company stock valued at $8,913,497. 0.21% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the company. Valley Wealth Managers Inc. bought a new stake in Sandisk during the first quarter worth $25,000. Whittier Trust Co. acquired a new stake in shares of Sandisk in the 4th quarter valued at $26,000. Greenline Wealth Management LLC bought a new position in shares of Sandisk in the 4th quarter valued at $26,000. Mitsubishi UFJ Asset Management Co. Ltd. bought a new position in shares of Sandisk in the 3rd quarter valued at $27,000. Finally, Chung Wu Investment Group LLC acquired a new position in shares of Sandisk during the 4th quarter worth $27,000.

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.