Sandisk (NASDAQ:SNDK) Now Covered by Analysts at Rosenblatt Securities

Key Points

• Rosenblatt Securities initiated coverage with a Buy rating on Sandisk and a $2,400 price target, implying approximately 35.9% upside from the stock’s current price.
• Analyst sentiment remains favorable, with MarketBeat reporting a consensus Moderate Buy rating and an average price target of $2,015.61.
• Sandisk reported quarterly revenue growth of 371.6% year over year and earnings that exceeded estimates, while also authorizing a $14 billion share buyback covering up to 6.6% of outstanding shares.

Equities researchers at Rosenblatt Securities began coverage on shares of Sandisk (NASDAQ:SNDK - Get Free Report) in a research report issued to clients and investors on Tuesday, Benzinga reports. The brokerage set a "buy" rating and a $2,400.00 price target on the data storage provider's stock. Rosenblatt Securities' price objective points to a potential upside of 35.85% from the stock's current price.

Several other research analysts have also issued reports on the company. The Goldman Sachs Group reiterated a "buy" rating and set a $2,200.00 price objective on shares of Sandisk in a research note on Thursday, August 13th. Susquehanna lowered their target price on shares of Sandisk from $3,250.00 to $3,050.00 and set a "positive" rating on the stock in a report on Thursday, July 23rd. Morgan Stanley lifted their price target on shares of Sandisk from $1,100.00 to $1,750.00 and gave the company an "overweight" rating in a report on Wednesday, June 3rd. UBS Group restated an "overweight" rating and issued a $1,750.00 price target on shares of Sandisk in a research report on Friday, August 14th. Finally, Wedbush reaffirmed an "outperform" rating and set a $2,000.00 price objective on shares of Sandisk in a research note on Friday, August 14th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $2,015.61.

Sandisk Trading Down 1.4%

NASDAQ SNDK opened at $1,766.64 on Tuesday. The stock's 50 day moving average is $1,502.53 and its two-hundred day moving average is $1,370.55. The company has a market capitalization of $258.67 billion, a price-to-earnings ratio of 24.23, a PEG ratio of 0.18 and a beta of 5.17. Sandisk has a 1-year low of $93.54 and a 1-year high of $2,354.39.

Sandisk (NASDAQ:SNDK - Get Free Report) last issued its earnings results on Wednesday, August 5th. The data storage provider reported $39.25 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $33.28 by $5.97. The business had revenue of $8.96 billion during the quarter. Sandisk had a return on equity of 87.84% and a net margin of 56.47%.The company's quarterly revenue was up 371.6% on a year-over-year basis. During the same period in the previous year, the company posted $0.29 earnings per share. Sandisk has set its Q1 2027 guidance at 44.000-46.000 EPS. On average, analysts predict that Sandisk will post 208.92 earnings per share for the current year.

Sandisk declared that its board has initiated a share buyback plan on Wednesday, August 5th that allows the company to repurchase $14.00 billion in shares. This repurchase authorization allows the data storage provider to purchase up to 6.6% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company's leadership believes its stock is undervalued.

Insider Activity at Sandisk

In other Sandisk news, insider Bernard Shek sold 2,308 shares of the stock in a transaction dated Tuesday, September 8th. The shares were sold at an average price of $1,767.33, for a total transaction of $4,078,997.64. Following the sale, the insider owned 25,305 shares of the company's stock, valued at $44,722,285.65. This represents a 8.36% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Luis Visoso sold 1,000 shares of the firm's stock in a transaction dated Tuesday, September 15th. The shares were sold at an average price of $1,568.83, for a total transaction of $1,568,830.00. Following the completion of the sale, the chief financial officer owned 130,976 shares of the company's stock, valued at $205,479,078.08. The trade was a 0.76% 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 have sold 77,899 shares of company stock worth $121,370,958 in the last 90 days. Corporate insiders own 0.21% of the company's stock.

Hedge Funds Weigh In On Sandisk

Several hedge funds have recently added to or reduced their stakes in SNDK. Handelsbanken Fonder AB boosted its stake in Sandisk by 35.1% in the second quarter. Handelsbanken Fonder AB now owns 57,564 shares of the data storage provider's stock valued at $130,885,000 after buying an additional 14,964 shares in the last quarter. Focus Partners Advisor Solutions LLC bought a new position in shares of Sandisk in the second quarter worth about $4,775,000. Florida Financial Advisors LLC bought a new position in shares of Sandisk in the first quarter worth about $2,747,000. UNICOM Systems Inc. boosted its stake in shares of Sandisk by 14.9% in the 2nd quarter. UNICOM Systems Inc. now owns 58,500 shares of the data storage provider's stock valued at $133,013,000 after purchasing an additional 7,600 shares in the last quarter. Finally, Affinity Capital Advisors LLC acquired a new stake in shares of Sandisk in the 2nd quarter valued at approximately $2,506,000.

Key Sandisk News

Here are the key news stories impacting Sandisk this week:

• Positive Sentiment: Rosenblatt analyst Kevin Cassidy initiated coverage with a Buy rating and identified roughly 36% potential upside, arguing that artificial-intelligence infrastructure is creating a significant new opportunity for Sandisk’s memory and storage products. SanDisk Stock Price Forecast — Rosenblatt Analyst Sees Upside
• Positive Sentiment: AI spending, tight memory supplies and improving semiconductor sentiment continue to support the sector. Sandisk’s latest results also showed powerful momentum, with quarterly revenue up more than 370% year over year and earnings exceeding analyst expectations. Why Are AI Memory Chip Stocks Rising
• Neutral Sentiment: CEO David Goeckeler sold 33,841 shares for approximately $53.3 million under a pre-arranged Rule 10b5-1 plan. Although the sale reduced his direct ownership by 8.12%, he retained a substantial stake, making the transaction a limited discretionary signal. SEC insider transaction filing
• Negative Sentiment: Sandisk has recently lagged other memory stocks despite broader sector strength, suggesting profit-taking after its substantial rebound and possible technical resistance near recent highs. SanDisk Falls Despite Memory Rally
• Negative Sentiment: Investors are also assessing execution risks tied to Sandisk’s large deal pipeline, built-in pricing depreciation in some contracts and the company’s ability to overcome the AI “memory wall.” China’s CXMT is advancing DRAM production, potentially increasing competition and pressuring the shortage-driven pricing environment. Micron and SanDisk Face a New Test

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.