Sandisk (NASDAQ:SNDK) Upgraded to “Buy” at Argus

Sandisk (NASDAQ:SNDK) was upgraded by stock analysts at Argus from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Monday.

Several other equities analysts have also recently commented on the stock. Royal Bank Of Canada raised their price target on shares of Sandisk from $1,000.00 to $1,300.00 and gave the company a “sector perform” rating in a research report on Thursday. Jefferies Financial Group reaffirmed a “buy” rating on shares of Sandisk in a research report on Thursday. Wells Fargo & Company reduced their price objective on Sandisk from $1,620.00 to $1,400.00 and set an “equal weight” rating on the stock in a research note on Thursday. Wedbush lifted their target price on Sandisk from $1,200.00 to $2,000.00 and gave the company an “outperform” rating in a report on Thursday, July 9th. Finally, Weiss Ratings cut Sandisk from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Tuesday, July 21st. Three research analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $1,853.14.

Sandisk Stock Performance

Shares of SNDK opened at $1,212.21 on Monday. The stock has a market capitalization of $179.52 billion, a PE ratio of 16.63, a P/E/G ratio of 0.13 and a beta of 5.21. Sandisk has a 1 year low of $41.00 and a 1 year high of $2,354.39. The company’s 50-day simple moving average is $1,699.98 and its 200-day simple moving average is $1,153.55.

Sandisk (NASDAQ:SNDK) last announced its quarterly earnings data on Wednesday, August 5th. The data storage provider reported $39.25 earnings per share for the quarter, beating analysts’ consensus estimates of $33.28 by $5.97. The firm had revenue of $8.96 billion during the quarter. Sandisk had a net margin of 56.47% and a return on equity of 87.84%. The company’s revenue for the quarter was up 371.6% on a year-over-year basis. During the same quarter last year, the firm posted $0.29 EPS. Sandisk has set its Q1 2027 guidance at 44.000-46.000 EPS. On average, sell-side analysts predict that Sandisk will post 187.19 earnings per share for the current year.

Sandisk announced that its Board of Directors has approved a share buyback plan on Wednesday, August 5th that permits the company to repurchase $14.00 billion in outstanding shares. This repurchase authorization permits the data storage provider to repurchase up to 6.6% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s management believes its stock is undervalued.

Insider Activity

In related news, CAO Michael Pokorny sold 2,446 shares of the stock in a transaction on Tuesday, May 12th. The stock was sold at an average price of $1,426.18, for a total value of $3,488,436.28. Following the transaction, the chief accounting officer owned 22,375 shares of the company’s stock, valued at $31,910,777.50. This represents a 9.85% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Bernard Shek sold 600 shares of the firm’s stock in a transaction on Monday, August 3rd. The shares were sold at an average price of $1,162.16, for a total value of $697,296.00. Following the completion of the sale, the insider owned 30,915 shares in the company, valued at approximately $35,928,176.40. This represents a 1.90% decrease in their ownership of the stock. 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. In the last three months, insiders have sold 6,246 shares of company stock worth $9,993,292. 0.21% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Sandisk

Several hedge funds and other institutional investors have recently made changes to their positions in SNDK. Dunhill Financial LLC purchased a new position in Sandisk in the second quarter valued at approximately $30,000. Mowery & Schoenfeld Wealth Management LLC acquired a new position in shares of Sandisk in the 2nd quarter valued at $32,000. KERR FINANCIAL PLANNING Corp purchased a new position in shares of Sandisk in the 2nd quarter valued at $34,000. Ramsey Quantitative Systems purchased a new position in shares of Sandisk in the 2nd quarter valued at $50,000. Finally, Elevation Wealth Partners LLC raised its stake in Sandisk by 114.3% during the 2nd quarter. Elevation Wealth Partners LLC now owns 30 shares of the data storage provider’s stock worth $68,000 after acquiring an additional 16 shares in the last quarter.

Key Stories Impacting Sandisk

Here are the key news stories impacting Sandisk this week:

• Positive Sentiment: Investor James Foord is reportedly selling AMD while buying Sandisk, arguing that SNDK offers a more attractive opportunity after both semiconductor stocks declined following strong results. Why this top investor is fleeing AMD but buying SanDisk after both stocks crashed
• Positive Sentiment: Analysts and investors see a path for SNDK to reclaim its prior high, supported by market-share gains, 51% sequential revenue growth and multiyear capital commitments from hyperscale customers. Prediction: Sandisk Will Reclaim Its All-Time High by the End of the Year
• Positive Sentiment: Sandisk’s shift toward enterprise SSDs and AI infrastructure is improving the quality of its earnings. Datacenter shipments more than doubled, adjusted gross margin reached 84.6%, and the company reported $93.9 billion in minimum revenue commitments, with much of future production already contracted. Sandisk: A Better Business Is Emerging From The AI Boom
• Positive Sentiment: Sandisk unveiled a High Bandwidth Flash standard designed for AI memory infrastructure, potentially creating a new growth avenue as data-center operators seek higher memory capacity and bandwidth. SanDisk Just Unveiled the First High-Bandwidth Flash Standard
• Neutral Sentiment: Sandisk’s more than 3,000% 12-month rally has prompted speculation that it could split its stock to make the shares more accessible. However, no split has been announced, and a split would not change the company’s underlying value. Sandisk Has Surged More Than 3,000% in 12 Months. Is a Stock Split Coming?
• Negative Sentiment: The stock’s decline after earnings reflects concern that the outlook may not justify extremely high expectations. Investors may be taking profits after the sharp rally, while broader semiconductor selling and uncertainty over NAND pricing add volatility. Wall Street Punishes Sandisk’s Outlook: What Investors Are Missing

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.