Sandisk (NASDAQ:SNDK) Stock Price Down 10.8% - Should You Sell?

Key Points

• Sandisk shares fell 10.8% in mid-day trading Friday, with the stock dropping to as low as $1,411.50 amid lighter-than-average volume. The decline came alongside a broader selloff in chip and memory stocks.
• Despite the pullback, Wall Street remains broadly bullish on Sandisk, citing strong AI storage demand and tight memory supply. Analysts currently rate the stock a “Moderate Buy,” with a consensus target price of $1,811.38.
• Sandisk’s fundamentals have been strong, as its last quarterly results beat estimates by a wide margin and revenue jumped 251% year over year. The company is set to report fiscal Q4 results on August 5, and traders expect a potentially large post-earnings move.

Sandisk Corporation (NASDAQ:SNDK - Get Free Report)'s stock price traded down 10.8% during mid-day trading on Friday . The company traded as low as $1,411.50 and last traded at $1,436.56. 13,874,880 shares traded hands during mid-day trading, a decline of 15% from the average session volume of 16,303,954 shares. The stock had previously closed at $1,610.33.

Trending Headlines about Sandisk

Here are the key news stories impacting Sandisk this week:

• Positive Sentiment: Investors still see Sandisk as a key AI storage play, with recent coverage highlighting strong demand for enterprise storage, tight memory supply, and continued enthusiasm for NAND/DRAM exposure ahead of earnings. SanDisk vs. Seagate: Which AI Storage Stock Is the Better Buy Ahead of Q4 Earnings?
• Positive Sentiment: Analysts continue to point to Sandisk’s strong earnings history and the potential for another beat, which supports the stock despite near-term volatility. Will Sandisk Corporation (SNDK) Beat Estimates Again in Its Next Earnings Report?
• Positive Sentiment: New ETF products tied to memory names underscore investor demand for the trade and may keep attention on Sandisk as a leading beneficiary of the AI infrastructure boom. QUICK SPARK: Micron, SK Hynix, SanDisk Fans Get a New ETF to Turbocharge the DRAM Trade
• Neutral Sentiment: Sandisk is scheduled to report fiscal Q4 results on August 5, and options traders are positioning for a large move, keeping the stock volatile into earnings. SanDisk (SNDK) Will Report Q4 Earnings on August 5. Options Traders Brace for 25% Move
• Neutral Sentiment: Coverage this week also noted that Sandisk has been a huge winner in 2026, but that the stock has already pulled back sharply from its highs, suggesting a mix of long-term optimism and near-term caution. SanDisk stock down 33% from YTD high: Experts predict upside before Aug. 13
• Negative Sentiment: Friday’s slide in chip stocks, including Micron and other memory names, is dragging Sandisk lower as investors resume selling the semiconductor group. Chip Stocks Slide Friday—Memory Favorites Micron, Sandisk Among the Big Decliners
• Negative Sentiment: A Korea-led selloff in memory chips is pressuring U.S. storage stocks, adding to concerns that the recent rally may be cooling off ahead of earnings. SK Hynix and Micron Sink 6%, SanDisk Drops 9% as Korea Chip Selloff Hits U.S. Memory Stocks

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. Citigroup increased their target price on Sandisk from $2,025.00 to $2,500.00 and gave the company a "buy" rating in a research report on Thursday, June 25th. The Goldman Sachs Group reaffirmed a "buy" rating and set a $1,200.00 price target on shares of Sandisk in a research note on Friday, May 1st. Sanford C. Bernstein increased their price objective on shares of Sandisk from $1,700.00 to $3,000.00 and gave the company an "outperform" rating in a research report on Monday, June 29th. Morgan Stanley lifted their price objective on shares of Sandisk from $1,100.00 to $1,750.00 and gave the stock an "overweight" rating in a research note on Wednesday, June 3rd. Finally, Arete Research upgraded shares of Sandisk from a "hold" rating to a "strong-buy" rating in a report on Monday, April 13th. Two investment analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat, Sandisk presently has an average rating of "Moderate Buy" and a consensus target price of $1,811.38.

Sandisk Trading Down 10.8%

The stock has a market capitalization of $212.74 billion, a PE ratio of 49.93 and a beta of 4.74. The business's 50 day moving average is $1,753.46 and its 200 day moving average is $1,084.78.

Sandisk (NASDAQ:SNDK - Get Free Report) last posted its quarterly earnings data on Thursday, April 30th. The data storage provider reported $23.41 earnings per share for the quarter, topping analysts' consensus estimates of $14.17 by $9.24. The company had revenue of $5.95 billion for the quarter. Sandisk had a net margin of 34.19% and a return on equity of 44.06%. The business's revenue for the quarter was up 251.0% compared to the same quarter last year. During the same period last year, the company earned ($0.30) earnings per share. Sandisk has set its Q4 2026 guidance at 30.000-33.000 EPS. As a group, analysts anticipate that Sandisk Corporation will post 64.52 EPS for the current year.

Insiders Place Their Bets

In other news, Director Necip Sayiner sold 579 shares of the stock in a transaction that occurred on Friday, May 8th. The stock was sold at an average price of $1,503.11, for a total value of $870,300.69. Following the sale, the director directly owned 2,900 shares in the company, valued at approximately $4,359,019. This represents a 16.64% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Bernard Shek sold 600 shares of the firm's stock in a transaction that occurred on Wednesday, July 1st. The stock was sold at an average price of $2,088.00, for a total value of $1,252,800.00. Following the sale, the insider directly owned 31,515 shares of the company's stock, valued at $65,803,320. This represents a 1.87% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 6,225 shares of company stock worth $10,166,297. Corporate insiders own 0.21% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. State Street Corp bought a new stake in Sandisk during the 3rd quarter valued at about $491,053,000. Arrowstreet Capital Limited Partnership purchased a new position in shares of Sandisk during the third quarter worth approximately $297,293,000. Norges Bank bought a new stake in shares of Sandisk during the fourth quarter valued at approximately $518,889,000. Bank of America Corp DE bought a new stake in shares of Sandisk during the third quarter valued at approximately $190,425,000. Finally, AQR Capital Management LLC purchased a new stake in shares of Sandisk in the third quarter valued at approximately $163,057,000.

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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