Sandisk (NASDAQ:SNDK) Stock Gets Price Target Reduction from Wells Fargo & Company

Sandisk (NASDAQ:SNDK) had its target price reduced by Wells Fargo & Company from $1,550.00 to $1,300.00 in a research report report published on Friday morning,Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the data storage provider’s stock.

Several other analysts also recently commented on SNDK. China Renaissance raised their price objective on shares of Sandisk from $2,000.00 to $2,250.00 and gave the stock a “buy” rating in a research report on Wednesday, August 19th. Jefferies Financial Group reiterated a “buy” rating and issued a $1,400.00 target price (up from $1,000.00) on shares of Sandisk in a research report on Thursday, August 6th. BNP Paribas Exane dropped their price target on Sandisk from $1,900.00 to $1,400.00 in a research note on Thursday, August 6th. Citigroup reiterated a “buy” rating on shares of Sandisk in a research report on Thursday, October 1st. Finally, Evercore reaffirmed an “outperform” rating and issued a $3,100.00 price target (up from $1,400.00) on shares of Sandisk in a report on Thursday, August 13th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat.com, Sandisk presently has a consensus rating of “Moderate Buy” and a consensus price target of $2,056.23.

Sandisk Price Performance

Shares of NASDAQ SNDK opened at $1,150.89 on Friday. Sandisk has a 52 week low of $183.00 and a 52 week high of $2,354.39. The firm’s fifty day moving average is $1,557.91 and its 200 day moving average is $1,250.84. The company has a market cap of $166.34 billion, a price-to-earnings ratio of 9.23, a PEG ratio of 0.11 and a beta of 5.66.

Sandisk shares are set to split before the market opens on Monday, November 9th. The 8-1 split was announced on Thursday, October 29th. The newly minted shares will be distributed to shareholders after the closing bell on Thursday, November 19th.

Sandisk (NASDAQ:SNDK) last posted its quarterly earnings data on Thursday, October 29th. The data storage provider reported $49.51 earnings per share for the quarter, topping analysts’ consensus estimates of $46.19 by $3.32. Sandisk had a net margin of 67.04% and a return on equity of 125.70%. The firm had revenue of $11.03 billion during the quarter. During the same period in the previous year, the business posted $1.22 EPS. The business’s revenue for the quarter was up 23.0% on a year-over-year basis. Equities research analysts anticipate that Sandisk will post 210.92 earnings per share for the current year.

Sandisk announced that its Board of Directors has initiated a share buyback program on Wednesday, August 5th that authorizes the company to buy back $14 billion in outstanding shares. This buyback authorization authorizes the data storage provider to purchase up to 6.6% of its shares through open market purchases. Share buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.

Insiders Place Their Bets

In other news, CFO Luis Visoso sold 1,000 shares of the company’s stock in a transaction dated Tuesday, September 15th. The shares were sold at an average price of $1,568.83, for a total value of $1,568,830.00. Following the sale, the chief financial officer directly owned 130,976 shares of the company’s stock, valued at $205,479,078.08. This represents a 0.76% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO David Goeckeler sold 33,841 shares of Sandisk stock in a transaction that occurred on Thursday, September 17th. The shares were 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 in the company, valued at $602,709,911.65. This represents a 8.12% 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. In the last 90 days, insiders have sold 77,299 shares of company stock valued at $120,461,826. 0.29% of the stock is currently owned by insiders.

Institutional Trading of Sandisk

Hedge funds and other institutional investors have recently made changes to their positions in the company. BlackRock Inc. acquired a new position in shares of Sandisk during the second quarter worth approximately $23,408,732,000. Situational Awareness LP grew its position in Sandisk by 42.4% in 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 acquiring an additional 743,325 shares during the last quarter. Bank of New York Mellon Corp acquired a new stake in shares of Sandisk in the 2nd quarter valued at about $1,621,353,000. Bank of America Corp DE bought a new position in shares of Sandisk during the 2nd quarter valued at approximately $1,564,901,000. Finally, Assenagon Asset Management S.A. bought a new position in Sandisk in the second quarter valued at $1,413,917,000.

Sandisk News Roundup

Here are the key news stories impacting Sandisk this week:

• Positive Sentiment: Sandisk reported fiscal Q1 revenue of $11.03 billion and non-GAAP EPS of $49.51, exceeding Wall Street expectations. Revenue increased 378% year over year, while GAAP net income reached $8.1 billion. SanDisk Q1 2027 Earnings Call Transcript
• Positive Sentiment: Management projected fiscal Q2 revenue of $12.2 billion to $12.6 billion and highlighted strong AI-driven data-center demand, long-term customer supply agreements and a pipeline extending through 2030. Data-center revenue rose 61% sequentially. SanDisk CEO Sees Strong Customer Demand
• Positive Sentiment: The board approved an 8-for-1 forward stock split effective November 19, and Sandisk repurchased approximately $5 billion of stock during the quarter. These actions may improve trading accessibility and signal management confidence, although they do not change intrinsic value. Sandisk Tops Estimates and Announces Stock Split
• Neutral Sentiment: Analyst sentiment remains divided. Rosenblatt reaffirmed a $2,400 buy target and Susquehanna maintained a positive rating, while Wells Fargo cut its target to $1,300 with an equal-weight rating and RBC reduced its target to $1,400 with a sector-perform rating.
• Negative Sentiment: Investors appear concerned that memory pricing and margins may be near a peak, limiting further earnings upside after the stock’s substantial run. Analysts also flagged valuation risks despite the earnings beat. Analyst Sees Memory Pricing Peak
• Negative Sentiment: The broader technology and semiconductor sell-off, triggered partly by disappointing results from Amazon and Intel, pressured memory stocks across the sector. Rising competition from China’s CXMT added another concern for investors. Why Memory Stocks Are Falling

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.