Sandisk (NASDAQ:SNDK) Stock Price Down 12.6% - Should You Sell?

Key Points

• SanDisk shares fell 12.6% on Monday, with the selloff tied largely to a broader memory-chip rout after SK Hynix issued a weak outlook and sparked pressure across storage stocks.
• Despite the sharp drop, Wall Street sentiment remains mostly bullish: multiple analysts recently raised price targets, including Evercore ISI at $3,100 and Goldman Sachs with a much higher target, while the consensus rating is still Moderate Buy.
• SanDisk’s fundamentals remain strong, supported by blowout quarterly results, AI-driven demand, and large supply commitments, though the stock is also showing high volatility with a beta of 4.74.

Shares of Sandisk Corporation (NASDAQ:SNDK - Get Free Report) traded down 12.6% during trading on Monday . The company traded as low as $1,646.17 and last traded at $1,673.97. Approximately 13,626,789 shares changed hands during trading, a decline of 17% from the average daily volume of 16,428,531 shares. The stock had previously closed at $1,915.92.

Key Stories Impacting Sandisk

Here are the key news stories impacting Sandisk this week:

• Positive Sentiment: Evercore ISI raised its price target on Sandisk to $3,100 and kept an Outperform rating, reinforcing a bullish Wall Street view despite the sector pullback. SanDisk Stock Price Forecast: Why Evercore’s Amit Daryanani Raised SNDK’s Price Target by More Than 120%
• Positive Sentiment: Goldman Sachs reportedly nearly doubled its SanDisk price target, adding to the optimism around the stock’s long-term earnings power. Goldman Sachs nearly doubles SanDisk stock price target for 2026
• Positive Sentiment: SanDisk was named to Zacks’ #1 Strong Buy momentum list, and another Zacks note said the stock remains cheap relative to the broader tech sector despite a big year-to-date rally. Best Momentum Stocks to Buy for July 13th Buy These 4 Tech Stocks That Are Still Cheap Despite 100%+ YTD Rally
• Neutral Sentiment: Commentary across several outlets highlighted SanDisk’s strong fundamentals, including AI-driven demand and large committed supply deals, which may support the stock once the sector volatility eases. SanDisk (SNDK) Stock Drops 5% as Analysts Elevate Price Targets Amid Sector Turbulence
• Negative Sentiment: SK Hynix’s weak outlook rattled memory-chip investors and triggered a broader selloff in SanDisk and other storage names, pressuring the stock today. SK Hynix Shares Slide After South Korea Sell-Off. This Expert Sees a ‘Vicious Circle' Forming Micron, SanDisk, Western Digital Fall 6% as SK Hynix's Weak Outlook Rattles Memory Stocks
• Negative Sentiment: Broader tech weakness and a risk-off pre-market tone are also weighing on Sandisk as investors rotate out of high-beta semiconductor names. Pre-Market in Red Intel, AMD, Sandisk, and More Stocks That Explain Today's Market

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. Morgan Stanley lifted their price target 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. Zacks Research cut Sandisk from a "strong-buy" rating to a "hold" rating in a report on Wednesday, July 1st. Barclays upgraded Sandisk from an "equal weight" rating to an "overweight" rating and lifted their target price for the company from $1,200.00 to $2,300.00 in a research report on Tuesday, May 26th. UBS Group set a $1,700.00 price target on Sandisk in a research report on Monday, May 4th. Finally, 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. Two equities research analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $1,765.19.

Sandisk Trading Down 12.8%

The firm has a market cap of $247.52 billion, a PE ratio of 58.10 and a beta of 4.74. The stock has a 50 day simple moving average of $1,726.30 and a 200-day simple moving average of $1,001.87.

Sandisk (NASDAQ:SNDK - Get Free Report) last released 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 firm had revenue of $5.95 billion during the quarter. Sandisk had a return on equity of 44.06% and a net margin of 34.19%.The business's revenue was up 251.0% on a year-over-year basis. During the same period last year, the company earned ($0.30) EPS. Sandisk has set its Q4 2026 guidance at 30.000-33.000 EPS. On average, equities research analysts expect that Sandisk Corporation will post 64.95 EPS for the current year.

Insider Activity at Sandisk

In other Sandisk news, EVP Alper Ilkbahar sold 2,000 shares of the stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $1,756.58, for a total transaction of $3,513,160.00. Following the completion of the sale, the executive vice president directly owned 52,677 shares of the company's stock, valued at $92,531,364.66. This trade represents a 3.66% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Bernard Shek sold 600 shares of the business's stock in a transaction on Wednesday, July 1st. The stock was sold at an average price of $2,088.00, for a total transaction of $1,252,800.00. Following the completion of the transaction, the insider directly owned 31,515 shares in the company, valued at $65,803,320. This trade represents a 1.87% 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. In the last 90 days, insiders sold 6,225 shares of company stock valued at $10,166,297. Corporate insiders own 0.21% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in SNDK. Dogwood Wealth Management LLC lifted its position in shares of Sandisk by 14.3% in the second quarter. Dogwood Wealth Management LLC now owns 48 shares of the data storage provider's stock worth $109,000 after buying an additional 6 shares in the last quarter. Castle Rock Wealth Management LLC grew its holdings in Sandisk by 2.4% during the 2nd quarter. Castle Rock Wealth Management LLC now owns 426 shares of the data storage provider's stock valued at $969,000 after buying an additional 10 shares in the last quarter. Legacy Wealth Asset Management LLC increased its stake in Sandisk by 1.6% in the 2nd quarter. Legacy Wealth Asset Management LLC now owns 772 shares of the data storage provider's stock worth $1,755,000 after acquiring an additional 12 shares during the last quarter. GHP Investment Advisors Inc. increased its stake in Sandisk by 12.0% in the 1st quarter. GHP Investment Advisors Inc. now owns 121 shares of the data storage provider's stock worth $77,000 after acquiring an additional 13 shares during the last quarter. Finally, Versant Capital Management Inc raised its holdings in shares of Sandisk by 2.5% during the 2nd quarter. Versant Capital Management Inc now owns 527 shares of the data storage provider's stock worth $1,198,000 after acquiring an additional 13 shares in the last quarter.

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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