Sandisk (NASDAQ:SNDK) Research Coverage Started at Rosenblatt Securities

Rosenblatt Securities started coverage on shares of Sandisk (NASDAQ:SNDK) in a research note issued to investors on Tuesday, MarketBeat.com reports. The firm issued a buy rating and a $2,400.00 target price on the data storage provider’s stock.

SNDK has been the subject of a number of other research reports. UBS Group reiterated an “overweight” rating and set a $1,750.00 price target on shares of Sandisk in a research report on Friday, August 14th. Cantor Fitzgerald reissued an “overweight” rating and set a $2,900.00 price target on shares of Sandisk in a report on Monday, August 10th. Morgan Stanley lifted their price objective on shares of Sandisk from $1,100.00 to $1,750.00 and gave the company an “overweight” rating in a research note on Wednesday, June 3rd. Susquehanna reduced their price objective on shares of Sandisk from $3,250.00 to $3,050.00 and set a “positive” rating for the company in a report on Thursday, July 23rd. Finally, Mizuho decreased their target price on shares of Sandisk from $1,900.00 to $1,875.00 and set an “outperform” rating for the company in a research report on Tuesday, August 25th. Three investment analysts have rated the stock with a Strong Buy rating, twenty have issued a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $2,015.61.

Sandisk Trading Down 3.5%

Shares of NASDAQ:SNDK opened at $1,753.62 on Tuesday. The firm’s 50 day moving average is $1,515.99 and its two-hundred day moving average is $1,397.07. The firm has a market capitalization of $256.77 billion, a P/E ratio of 24.06, a PEG ratio of 0.19 and a beta of 5.17. Sandisk has a 52 week low of $93.54 and a 52 week high of $2,354.39.

Sandisk (NASDAQ:SNDK) last issued its quarterly earnings data on Wednesday, August 5th. The data storage provider reported $39.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $33.28 by $5.97. Sandisk had a return on equity of 87.84% and a net margin of 56.47%.The business had revenue of $8.96 billion during the quarter. During the same quarter in the prior year, the firm posted $0.29 earnings per share. The business’s quarterly revenue was up 371.6% on a year-over-year basis. Sandisk has set its Q1 2027 guidance at 44.000-46.000 EPS. Analysts predict that Sandisk will post 208.94 EPS for the current year.

Sandisk declared that its Board of Directors has initiated a stock repurchase plan on Wednesday, August 5th that permits the company to buyback $14.00 billion in outstanding shares. This buyback authorization permits the data storage provider to purchase up to 6.6% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s board believes its shares are undervalued.

Insider Transactions at Sandisk

In related news, CEO David Goeckeler sold 33,841 shares of Sandisk stock in a transaction dated Thursday, September 17th. The stock was sold at an average price of $1,574.21, for a total transaction of $53,272,840.61. Following the transaction, the chief executive officer directly owned 382,865 shares of the company’s stock, valued at $602,709,911.65. The trade was a 8.12% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Alper Ilkbahar sold 4,712 shares of the business’s stock in a transaction dated Thursday, September 3rd. The stock was sold at an average price of $1,540.58, for a total transaction of $7,259,212.96. Following the completion of the sale, the executive vice president owned 44,134 shares in the company, valued at approximately $67,991,957.72. This trade represents a 9.65% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 77,899 shares of company stock worth $121,370,958 over the last 90 days. 0.21% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Sandisk

Institutional investors and hedge funds have recently bought and sold shares of the business. Silicon Valley Capital Partners grew its stake in shares of Sandisk by 1,917.6% in the 2nd quarter. Silicon Valley Capital Partners now owns 343 shares of the data storage provider’s stock worth $779,000 after purchasing an additional 326 shares during the last quarter. SkyView Investment Advisors LLC acquired a new stake in Sandisk during the second quarter valued at approximately $455,000. Bouchey Financial Group Ltd. acquired a new stake in Sandisk during the second quarter valued at approximately $296,000. Capstone Financial Advisors Inc. bought a new stake in Sandisk during the second quarter worth approximately $398,000. Finally, IPG Investment Advisors LLC bought a new stake in Sandisk during the second quarter worth approximately $2,776,000.

Sandisk News Summary

Here are the key news stories impacting Sandisk this week:

• Positive Sentiment: Rosenblatt Securities upgraded Sandisk to “strong buy” and set a $2,400 price target, citing accelerating AI-memory demand and improving forward earnings. Why Rosenblatt Thinks Sandisk Stock Is Headed for $2,400
• Positive Sentiment: Analysts continue to view Sandisk as a major beneficiary of the AI infrastructure cycle. High-bandwidth flash memory, growing inferencing demand and multi-year supply commitments could support earnings visibility and provide protection against NAND price declines. Sandisk: Market Is Still Undervaluing The AI Supercycle Upside
• Positive Sentiment: Sandisk has reportedly secured buyers for approximately half of its current-year production and two-thirds of next year’s output, with price floors designed to stabilize margins. The company is also investing with Kioxia in Japan, potentially expanding long-term production capacity. Sandisk Has Signed Away Two Thirds of Next Year’s Output
• Positive Sentiment: The company’s S&P 100 inclusion and multibillion-dollar share-repurchase authorization may attract index-related buying and support earnings per share by reducing the share count. Sandisk Joins the S&P 100
• Neutral Sentiment: Reported short interest was listed at zero shares, implying no measurable short-selling pressure in the cited data. The figure conflicts with the description of a “large increase” in short interest and may reflect a reporting or timing issue.
• Negative Sentiment: Memory stocks, including Sandisk, Micron and SK hynix, declined together as investors locked in gains and reassessed lofty valuations after a powerful rally. Analysts also flag weak consumer demand, rising costs, NAND-cycle risks and potential future supply from competitors as headwinds. Why Memory Stocks Are Down Today

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.