Sandisk (NASDAQ:SNDK) Sets New 52-Week High - Should You Buy?

Key Points

• Sandisk hit a new 52-week high, trading as high as $1,632.93 and closing near $1,614, extending a sharp rally in the stock.
• Recent coverage says Sandisk is benefiting from an AI-driven memory and storage supercycle, with rising memory prices and strong momentum across the sector helping fuel investor interest.
• Analysts remain broadly positive after Sandisk’s blowout quarter, with earnings and revenue both crushing estimates and multiple firms raising price targets; the consensus rating is currently Moderate Buy.

Sandisk Corporation (NASDAQ:SNDK - Get Free Report) reached a new 52-week high during trading on Tuesday . The stock traded as high as $1,632.93 and last traded at $1,614.28, with a volume of 5179108 shares traded. The stock had previously closed at $1,478.69.

Trending Headlines about Sandisk

Here are the key news stories impacting Sandisk this week:

• Positive Sentiment: Reports say Sandisk is benefiting from an AI storage supercycle, with server-memory prices surging and sentiment improving across the memory-chip sector. SanDisk Rides AI Storage Supercycle As Memory Prices Enter 'New Normal'
• Positive Sentiment: Analyst and media coverage points to strong momentum in memory stocks, with Sandisk named as a major beneficiary of the broader AI-driven rally. Scorching runs for memory chip stocks like Micron and Sandisk have sent this new ETF soaring
• Positive Sentiment: Tuesday’s rally was reinforced by commentary that Sandisk may still have room to run after a sharp move higher, suggesting momentum traders remain active. Is SanDisk Stock (SNDK) Still Worth Buying After Today’s Rally?

Analyst Ratings Changes

SNDK has been the topic of several recent research reports. Wedbush raised their price objective on Sandisk from $740.00 to $1,200.00 and gave the stock an "outperform" rating in a research note on Wednesday, April 29th. The Goldman Sachs Group reaffirmed a "buy" rating and issued a $1,200.00 price objective on shares of Sandisk in a research note on Friday, May 1st. Weiss Ratings raised Sandisk from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Wednesday, May 20th. Barclays raised their price objective on Sandisk from $750.00 to $1,200.00 and gave the stock an "equal weight" rating in a research note on Friday, May 1st. Finally, Bank of America increased their target price on Sandisk from $900.00 to $1,080.00 and gave the stock a "buy" rating in a research report on Friday, April 17th. Three equities research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and four have given a Hold rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $1,157.14.

Sandisk Price Performance

The firm has a 50-day moving average of $999.79 and a 200-day moving average of $608.04. The stock has a market cap of $238.31 billion, a PE ratio of 55.94 and a beta of 4.82.

Sandisk (NASDAQ:SNDK - Get Free Report) last released its earnings results 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 firm had revenue of $5.95 billion during the quarter. During the same quarter in the prior year, the business posted ($0.30) EPS. The business's revenue for the quarter was up 251.0% compared to the same quarter last year. Sandisk has set its Q4 2026 guidance at 30.000-33.000 EPS. Equities analysts forecast that Sandisk Corporation will post 63.58 EPS for the current fiscal year.

Insider Buying and Selling at Sandisk

In other Sandisk news, CAO Michael Pokorny sold 2,446 shares of the firm's stock in a transaction that occurred on Tuesday, May 12th. The stock was sold at an average price of $1,426.18, for a total transaction of $3,488,436.28. Following the completion of the transaction, the chief accounting officer owned 22,375 shares in the company, valued at $31,910,777.50. This trade represents a 9.85% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Necip Sayiner sold 579 shares of the firm's stock in a transaction that occurred on Friday, May 8th. The shares were sold at an average price of $1,503.11, for a total value of $870,300.69. Following the transaction, the director owned 2,900 shares of the company's stock, valued at $4,359,019. This represents a 16.64% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 6,525 shares of company stock worth $6,555,092 in the last quarter. 0.21% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Sandisk

Several institutional investors have recently added to or reduced their stakes in the company. GHP Investment Advisors Inc. grew its holdings in Sandisk by 12.0% during the 1st quarter. GHP Investment Advisors Inc. now owns 121 shares of the data storage provider's stock valued at $77,000 after buying an additional 13 shares in the last quarter. Blair William & Co. IL grew its holdings in Sandisk by 0.3% during the 4th quarter. Blair William & Co. IL now owns 5,287 shares of the data storage provider's stock valued at $1,255,000 after buying an additional 17 shares in the last quarter. Empirical Finance LLC grew its holdings in Sandisk by 0.7% during the 1st quarter. Empirical Finance LLC now owns 3,535 shares of the data storage provider's stock valued at $2,246,000 after buying an additional 24 shares in the last quarter. SOA Wealth Advisors LLC. lifted its stake in shares of Sandisk by 108.0% in the 1st quarter. SOA Wealth Advisors LLC. now owns 52 shares of the data storage provider's stock valued at $33,000 after purchasing an additional 27 shares during the last quarter. Finally, Larson Financial Group LLC lifted its stake in shares of Sandisk by 20.2% in the 4th quarter. Larson Financial Group LLC now owns 220 shares of the data storage provider's stock valued at $52,000 after purchasing an additional 37 shares during the last quarter.

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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