Sandisk (NASDAQ:SNDK) Announces Earnings Results

Sandisk (NASDAQ:SNDK) released its quarterly earnings results on Thursday. The data storage provider reported $49.51 EPS for the quarter, topping analysts’ consensus estimates of $46.19 by $3.32, FiscalAI reports. The business had revenue of $11.03 billion during the quarter. Sandisk had a net margin of 56.47% and a return on equity of 87.84%. Sandisk’s quarterly revenue was up 23.0% on a year-over-year basis. During the same period in the prior year, the firm earned $1.22 EPS.

Here are the key takeaways from Sandisk’s conference call:

• Strong first-quarter results exceeded guidance: Revenue reached $11 billion, non-GAAP gross margin was 85.1%, and non-GAAP EPS was $49.51. Adjusted free cash flow totaled $5.7 billion, supporting $5 billion in share repurchases.
• AI-driven data-center demand remains a major growth engine. Data-center revenue rose 61% sequentially to $4.8 billion, while management said industry data-center bit demand could grow about 40% in calendar 2027 and exceed 55% of the market.
• Long-term customer commitments are expanding. Sandisk said its NBM pipeline exceeds available supply through the end of the decade, with roughly half of fiscal 2027 bits and two-thirds of fiscal 2028 bits under contract; management expects the committed share to rise further.
• Near-term guidance points to continued growth. Fiscal second-quarter revenue is expected at $12.2 billion-$12.6 billion, with non-GAAP EPS of $55-$57 pre-split, and the board approved an 8-for-1 stock split effective in November.
• Consumer weakness and seasonal risk remain. Consumer revenue fell 29% sequentially to $397 million as customers adjusted to higher prices, and management cautioned that fiscal third-quarter sequential growth should be modeled conservatively because it is historically the weakest quarter.

Sandisk Trading Down 5.3%

Shares of SNDK stock traded down $74.72 during trading hours on Thursday, hitting $1,330.05. 8,126,348 shares of the company’s stock were exchanged, compared to its average volume of 8,246,133. The company has a market capitalization of $192.23 billion, a PE ratio of 20.43, a PEG ratio of 0.14 and a beta of 5.23. Sandisk has a 12-month low of $183.00 and a 12-month high of $2,354.39. The business’s 50 day simple moving average is $1,566.91 and its 200-day simple moving average is $1,247.03.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on SNDK. The Goldman Sachs Group restated a “buy” rating and set a $2,200.00 price objective (up from $1,200.00) on shares of Sandisk in a research report on Thursday, August 13th. China Renaissance increased their target price on Sandisk from $2,000.00 to $2,250.00 and gave the company a “buy” rating in a research note on Wednesday, August 19th. Wedbush reissued an “outperform” rating and issued a $2,000.00 target price on shares of Sandisk in a research note on Friday, August 14th. New Street Research set a $3,000.00 price target on Sandisk in a research report on Thursday, August 6th. Finally, Citigroup reaffirmed a “buy” rating on shares of Sandisk in a research note on Thursday, October 1st. Three research analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, Sandisk presently has an average rating of “Moderate Buy” and a consensus target price of $2,093.73.

Insider Buying and Selling at Sandisk

In other news, CFO Luis Visoso sold 1,000 shares of Sandisk stock in a transaction dated Tuesday, September 15th. The stock was sold at an average price of $1,568.83, for a total value of $1,568,830.00. Following the transaction, the chief financial officer owned 130,976 shares in the company, valued at approximately $205,479,078.08. The trade was a 0.76% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Bernard Shek sold 600 shares of the business’s stock in a transaction that occurred on Thursday, October 1st. The shares were sold at an average price of $1,734.94, for a total value of $1,040,964.00. Following the completion of the sale, the insider owned 25,588 shares of the company’s stock, valued at $44,393,644.72. The trade was a 2.29% decrease in their position. 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 $121,159,122 over the last 90 days. Company insiders own 0.29% of the company’s stock.

Institutional Investors Weigh In On Sandisk

A number of large investors have recently made changes to their positions in the business. BlackRock Inc. bought a new stake in Sandisk in the second quarter worth about $23,408,732,000. Situational Awareness LP grew its stake in shares of Sandisk by 42.4% during the second quarter. Situational Awareness LP now owns 2,495,344 shares of the data storage provider’s stock valued at $5,673,739,000 after buying an additional 743,325 shares during the last quarter. Wellington Management Group LLP grew its stake in shares of Sandisk by 71.2% during the second quarter. Wellington Management Group LLP now owns 1,066,886 shares of the data storage provider’s stock valued at $2,425,811,000 after buying an additional 443,714 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of Sandisk by 57.4% during the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 726,722 shares of the data storage provider’s stock valued at $1,652,370,000 after buying an additional 264,935 shares during the last quarter. Finally, Bank of New York Mellon Corp purchased a new stake in shares of Sandisk in the second quarter worth approximately $1,621,353,000.

Sandisk declared that its board has approved a stock repurchase program on Wednesday, August 5th that allows the company to buy back $14 billion in shares. This buyback authorization allows the data storage provider to repurchase up to 6.6% of its shares through open market purchases. Share buyback programs are generally an indication that the company’s board believes its shares are undervalued.

Trending Headlines about Sandisk

Here are the key news stories impacting Sandisk this week:

• Positive Sentiment: Sandisk reported fiscal Q1 revenue of $11.03 billion and adjusted earnings of $49.51 per share, exceeding consensus estimates of approximately $10.7 billion in revenue and $46-$47 per share in earnings. Earnings increased sharply from $1.22 per share a year earlier. Sandisk Tops Q1 Earnings and Revenue Estimates
• Positive Sentiment: AI infrastructure demand drove strong growth: data-center revenue rose 61% sequentially to $4.80 billion, while Edge revenue increased 7% to $5.83 billion. Management projected fiscal Q2 revenue of $12.2 billion to $12.6 billion and non-GAAP diluted EPS of $55 to $57, signaling continued pricing power and demand for enterprise storage. Sandisk Data Center Revenue and Stock Split
• Positive Sentiment: The company announced an eight-for-one forward stock split effective November 19, 2026, which could improve share accessibility and liquidity. Sandisk also repurchased approximately $5 billion of stock during the quarter. Sandisk Reports Revenue, Net Income and Stock Split
• Neutral Sentiment: Long-term customer agreements totaling roughly $91.1 billion support visibility, but investors remain focused on whether Sandisk can sustain profitability through the typically cyclical NAND-memory market. Sandisk’s Surging Profits Face a Critical Test
• Negative Sentiment: Memory stocks came under pressure after weaker-than-expected Alphabet results and a sharp decline in Samsung Electronics shares revived concerns about technology spending and sector momentum. The pullback in peers such as Micron and SK Hynix weighed on Sandisk ahead of its results. Why Memory Stocks Fell
• Negative Sentiment: Despite the buybacks, diluted shares remained about 3% above the prior-year level. Separately, reported insider activity showed selling rather than purchases, potentially adding to investor caution after the stock’s substantial advance. Sandisk Revenue and Earnings Reaction

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.