Sandisk (NASDAQ:SNDK) Stock Price Down 14.1% - Here's Why

Key Points

• SanDisk shares fell 14.1% on Thursday, with heavy trading volume as the stock slid from a prior close of $2,032.22 to around $1,745.00 intraday.
• Despite the drop, analysts remain broadly positive: Bank of America raised its price target to $2,500 and reiterated a Buy rating, citing tight NAND supply-demand conditions and strong AI/storage demand.
• The selloff appears tied to broad semiconductor weakness and worries about a memory-chip supply glut, as investors rotated out of AI hardware and into software after a strong first-half rally.

Sandisk Corporation (NASDAQ:SNDK - Get Free Report) dropped 14.1% during trading on Thursday . The company traded as low as $1,693.00 and last traded at $1,745.00. 17,130,969 shares changed hands during trading, an increase of 3% from the average session volume of 16,637,529 shares. The stock had previously closed at $2,032.22.

Sandisk News Roundup

Here are the key news stories impacting Sandisk this week:

• Positive Sentiment: Bank of America raised its price target on SanDisk to $2,500 and reiterated a Buy rating, saying NAND supply-demand tightness could persist through 2027 and support stronger pricing. SanDisk’s Stock Supercycle Just Got Another Boost: BofA Raises Price Tag to $2,500
• Positive Sentiment: Analysts remain constructive on SanDisk’s AI storage demand, with commentary pointing to continued memory boom benefits from data-center buildout and strong enterprise SSD/QLC demand. Can Sandisk's QLC SSD Portfolio Drive Sustainable Growth Ahead?
• Positive Sentiment: Some market coverage argues the stock’s sharp volatility is actually showing strong dip-buying interest, with repeated rebounds suggesting bulls are still in control. SanDisk’s Volatility May Be Telling Bulls What They Want to Hear
• Neutral Sentiment: Articles comparing SanDisk with Palantir and other AI winners highlight SanDisk’s role in the AI infrastructure stack, but they do not add a new fundamental catalyst today. Palantir vs. SanDisk: Two Paths to AI Riches, One Winner
• Negative Sentiment: Memory and storage stocks are being hit by a broad semiconductor selloff, with investors rotating out of AI hardware and into software after a powerful first-half rally. SanDisk Sinks 11%, Seagate Falls 7%, Micron Slides 4% on Memory Supply-Glut Fears
• Negative Sentiment: Pre-market weakness in SanDisk was also tied to profit-taking across tech and fresh concerns about memory-chip supply glut and broader market caution. Why Micron (MU) and SanDisk (SNDK) Stocks Are Falling in Pre-Market Today

Wall Street Analyst Weigh In

SNDK has been the subject of a number of analyst reports. Sanford C. Bernstein upped 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. The Goldman Sachs Group reiterated a "buy" rating and issued a $1,200.00 price target on shares of Sandisk in a research note on Friday, May 1st. Wedbush increased their price target on Sandisk from $740.00 to $1,200.00 and gave the company an "outperform" rating in a report on Wednesday, April 29th. Cantor Fitzgerald raised their price objective on Sandisk from $1,800.00 to $2,900.00 and gave the company an "overweight" rating in a research note on Monday, June 8th. Finally, Arete Research upgraded Sandisk from a "hold" rating to a "strong-buy" rating in a report on Monday, April 13th. Three research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $1,684.24.

Sandisk Trading Down 14.1%

The company's 50-day moving average is $1,618.07 and its two-hundred day moving average is $925.59. The stock has a market capitalization of $258.42 billion, a P/E ratio of 60.65 and a beta of 4.72.

Sandisk (NASDAQ:SNDK - Get Free Report) last released its quarterly 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. The company 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 company's revenue for the quarter was up 251.0% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.30) EPS. Sandisk has set its Q4 2026 guidance at 30.000-33.000 EPS. Sell-side analysts expect that Sandisk Corporation will post 64.01 EPS for the current fiscal year.

Insider Buying and Selling at Sandisk

In related news, 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 transaction of $870,300.69. Following the completion of the sale, the director directly owned 2,900 shares in the company, valued at approximately $4,359,019. This trade represents a 16.64% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Alper Ilkbahar sold 2,000 shares of Sandisk stock in a transaction on 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 transaction, the executive vice president owned 52,677 shares in the company, valued at $92,531,364.66. The trade was a 3.66% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 5,625 shares of company stock valued at $8,913,497 over the last quarter. Company insiders own 0.21% of the company's stock.

Hedge Funds Weigh In On Sandisk

Hedge funds have recently bought and sold shares of the business. Valley Wealth Managers Inc. bought a new stake in Sandisk during the 1st quarter valued at approximately $25,000. Whittier Trust Co. acquired a new position in shares of Sandisk during the fourth quarter worth approximately $26,000. Greenline Wealth Management LLC bought a new stake in shares of Sandisk in the fourth quarter valued at approximately $26,000. Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in shares of Sandisk in the third quarter valued at approximately $27,000. Finally, Chung Wu Investment Group LLC acquired a new stake in shares of Sandisk in the fourth quarter worth $27,000.

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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