Sandisk (NASDAQ:SNDK) Stock Price Down 11.4% - Time to Sell?

Key Points

• Sandisk shares fell 11.4% in Friday trading, with the stock dropping from a prior close of $1,759.68 to as low as $1,514.36 as heavy selling hit the name.
• Despite the pullback, analysts remain broadly bullish on SanDisk thanks to AI-related memory demand, tight NAND supply, and strong recent earnings that beat expectations by a wide margin.
• The stock’s sharp rise has also fueled valuation concerns and profit-taking, with recent weakness tied to an unwinding AI/semiconductor trade and broader sector pressure.

Sandisk Corporation (NASDAQ:SNDK - Get Free Report) shares traded down 11.4% during mid-day trading on Friday . The company traded as low as $1,514.36 and last traded at $1,559.32. 12,989,804 shares changed hands during mid-day trading, a decline of 25% from the average session volume of 17,408,422 shares. The stock had previously closed at $1,759.68.

Key Stories Impacting Sandisk

Here are the key news stories impacting Sandisk this week:

• Positive Sentiment: Wall Street remains constructive on SanDisk, with Morgan Stanley reportedly raising its price target by 59% and other analysts maintaining bullish views on the company’s AI-driven memory demand outlook. Analysts Are Bullish on These Technology Stocks: Arrow Electronics (ARW), SanDisk Corp (SNDK)
• Positive Sentiment: Recent bullish commentary says SanDisk is benefiting from strong AI storage demand, tight NAND supply, and multi-year visibility from customer agreements, supporting the view that fundamentals may keep improving. Sandisk's AI Storage Moment Is Just Getting Started
• Neutral Sentiment: Several recent pieces note that SanDisk has been hitting record highs and attracting attention as a top AI-memory winner, which reinforces strong momentum but also raises valuation concerns. Sandisk stock is firing on all cylinders: is a day of reckoning coming?
• Neutral Sentiment: Some analysts and market commentators argue the stock’s recent surge may have outrun the fundamentals, with valuation-focused articles suggesting downside if growth expectations cool. Price Prediction: Up 1400% in 2026, This Is Where We See SanDisk Heading
• Negative Sentiment: SanDisk shares are under pressure alongside Micron and Marvell as the “parabolic” AI/semiconductor trade unwinds, signaling profit-taking and weaker near-term sentiment across the group. Micron, SanDisk, and Marvell Plummet as “Parabolic 7” Trade Unwinds
• Negative Sentiment: Broader AI-sector weakness and concerns about new competition are also weighing on sentiment, adding to the selloff in SanDisk despite still-bullish analyst coverage. Micron (MU), SanDisk (SNDK) Stocks Slide after Broadcom Outlook and New Competition Threat

Wall Street Analyst Weigh In

Several research analysts have weighed in on SNDK shares. Wells Fargo & Company upped their price objective on shares of Sandisk from $975.00 to $1,250.00 and gave the stock an "equal weight" rating in a report on Friday, May 1st. Bank of America boosted their target price on shares of Sandisk from $900.00 to $1,080.00 and gave the stock a "buy" rating in a research report on Friday, April 17th. Mizuho increased their price objective on Sandisk from $1,625.00 to $1,825.00 and gave the stock an "outperform" rating in a research note on Thursday, May 28th. KGI Securities assumed coverage on Sandisk in a report on Wednesday, March 18th. They issued an "outperform" rating and a $992.00 target price on the stock. Finally, Sanford C. Bernstein lifted their target price on Sandisk from $1,250.00 to $1,700.00 and gave the company an "outperform" rating in a research report on Monday, May 4th. 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.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $1,398.27.

Sandisk Trading Down 11.4%

The stock's 50-day moving average price is $1,157.00 and its two-hundred day moving average price is $689.74. The stock has a market capitalization of $230.92 billion, a P/E ratio of 54.20 and a beta of 4.87.

Sandisk (NASDAQ:SNDK - Get Free Report) last posted its quarterly earnings data on Thursday, April 30th. The data storage provider reported $23.41 EPS for the quarter, beating 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 for the quarter. During the same quarter in the previous year, the company posted ($0.30) EPS. Sandisk's revenue for the quarter was up 251.0% on a year-over-year basis. Sandisk has set its Q4 2026 guidance at 30.000-33.000 EPS. On average, equities research analysts predict that Sandisk Corporation will post 63.58 earnings per share for the current year.

Insider Transactions at Sandisk

In related news, EVP Alper Ilkbahar sold 2,000 shares of Sandisk stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $1,756.58, for a total value of $3,513,160.00. Following the completion of the sale, the executive vice president owned 52,677 shares of the company's stock, valued at approximately $92,531,364.66. This trade represents a 3.66% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CAO Michael Pokorny sold 2,446 shares of the business's stock in a transaction dated Tuesday, May 12th. The shares were sold at an average price of $1,426.18, for a total value of $3,488,436.28. Following the completion of the sale, the chief accounting officer owned 22,375 shares in the company, valued at $31,910,777.50. This represents a 9.85% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 5,025 shares of company stock worth $7,871,897. 0.21% of the stock is owned by company insiders.

Institutional Investors Weigh In On Sandisk

Hedge funds and other institutional investors have recently bought and sold shares of the business. Valley Wealth Managers Inc. purchased a new position in shares of Sandisk in the first quarter valued at $25,000. IMG Wealth Management Inc. purchased a new position in Sandisk during the 1st quarter valued at about $29,000. SOA Wealth Advisors LLC. grew its holdings in Sandisk by 108.0% during the 1st quarter. SOA Wealth Advisors LLC. now owns 52 shares of the data storage provider's stock valued at $33,000 after buying an additional 27 shares in the last quarter. Cedar Mountain Advisors LLC increased its position in shares of Sandisk by 2,750.0% during the first quarter. Cedar Mountain Advisors LLC now owns 57 shares of the data storage provider's stock valued at $36,000 after buying an additional 55 shares during the period. Finally, Roble Belko & Company Inc purchased a new stake in shares of Sandisk in the first quarter worth about $39,000.

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.

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