Sandisk (NASDAQ:SNDK) Reaches New 1-Year High - Here's What Happened

Key Points

• Sandisk shares hit a new 52-week high, trading as high as $1,600 intraday before easing slightly, amid heavy volume of more than 3 million shares.
• Analysts remain broadly bullish on the stock: the company carries a “Moderate Buy” consensus rating, with a consensus price target of $1,065.81, though recent targets have ranged as high as $1,470.
• Recent earnings were strong, with Sandisk reporting $23.41 EPS versus $14.17 expected and revenue surging 251% year over year to $5.95 billion, while it also issued Q4 2026 guidance of 30–33 EPS.

Shares of Sandisk Corporation (NASDAQ:SNDK - Get Free Report) reached a new 52-week high during mid-day trading on Monday . The company traded as high as $1,600.00 and last traded at $1,543.8160, with a volume of 3086622 shares trading hands. The stock had previously closed at $1,562.34.

Wall Street Analyst Weigh In

SNDK has been the topic of a number of recent analyst reports. KGI Securities initiated coverage on shares of Sandisk in a report on Wednesday, March 18th. They set an "outperform" rating and a $992.00 price target on the stock. Barclays boosted their price target on shares of Sandisk from $750.00 to $1,200.00 and gave the company an "equal weight" rating in a report on Friday, May 1st. Benchmark boosted their price target on shares of Sandisk from $260.00 to $450.00 and gave the company a "buy" rating in a report on Thursday, January 15th. Wall Street Zen upgraded shares of Sandisk from a "buy" rating to a "strong-buy" rating in a report on Saturday, January 31st. Finally, Raymond James Financial restated an "outperform" rating and set a $1,470.00 price target on shares of Sandisk in a report on Friday, May 1st. Three analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $1,065.81.

Sandisk Price Performance

The company has a fifty day moving average of $797.19 and a 200-day moving average of $500.60. The firm has a market capitalization of $229.84 billion, a PE ratio of 53.50 and a beta of 4.82.

Sandisk (NASDAQ:SNDK - Get Free Report) last announced its quarterly earnings data on Thursday, April 30th. The data storage provider reported $23.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $14.17 by $9.24. Sandisk had a return on equity of 44.06% and a net margin of 34.19%.The business had revenue of $5.95 billion during the quarter. During the same quarter in the prior year, the business posted ($0.30) earnings per share. Sandisk's revenue was up 251.0% on a year-over-year basis. Sandisk has set its Q4 2026 guidance at 30.000-33.000 EPS. Equities analysts anticipate that Sandisk Corporation will post 63.93 EPS for the current year.

Insider Activity

In other Sandisk news, Director Miyuki Suzuki sold 3,500 shares of the stock in a transaction on Wednesday, February 25th. The shares were sold at an average price of $627.53, for a total value of $2,196,355.00. Following the completion of the sale, the director directly owned 9,907 shares of the company's stock, valued at $6,216,939.71. This represents a 26.11% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.21% of the company's stock.

Hedge Funds Weigh In On Sandisk

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. PNC Financial Services Group Inc. lifted its holdings in shares of Sandisk by 86.5% during the 1st quarter. PNC Financial Services Group Inc. now owns 30,049 shares of the data storage provider's stock worth $19,091,000 after acquiring an additional 13,940 shares during the period. Wilkerson Advisory Group LLC bought a new position in shares of Sandisk during the 1st quarter worth about $76,000. Atlantic Private Wealth LLC lifted its holdings in shares of Sandisk by 23.2% during the 1st quarter. Atlantic Private Wealth LLC now owns 409 shares of the data storage provider's stock worth $260,000 after acquiring an additional 77 shares during the period. Andar Capital Management HK Ltd bought a new position in shares of Sandisk during the 1st quarter worth about $4,320,000. Finally, Convergence Investment Partners LLC bought a new position in shares of Sandisk during the 1st quarter worth about $6,058,000.

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.

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