Sandisk (NASDAQ:SNDK) Stock Price Down 6.5% - Here's What Happened

Key Points

• Sandisk shares tumbled 6.5% intraday to $470.75 (from a prior close of $503.44) with about 11.04 million shares trading, roughly 30% below average volume.
• Analysts hold a consensus rating of “Moderate Buy” with a consensus target of $327.89 (2 Strong Buy, 13 Buy, 7 Hold, 1 Sell), a target notably below the current share price.
• The company reported a strong quarterly beat (EPS $1.22 vs. $0.58 expected; revenue $2.31B vs. $2.12B, +22.6% YoY) and set Q2 2026 guidance of EPS 3.00–3.40, while valuation metrics show a market cap of $70.35B and an extremely high P/E of 1,500.16.

Sandisk Corporation (NASDAQ:SNDK - Get Free Report) shares dropped 6.5% during mid-day trading on Friday . The company traded as low as $470.50 and last traded at $470.75. Approximately 11,036,575 shares changed hands during trading, a decline of 30% from the average daily volume of 15,786,378 shares. The stock had previously closed at $503.44.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on SNDK. JPMorgan Chase & Co. initiated coverage on shares of Sandisk in a research report on Monday, December 8th. They issued a "neutral" rating and a $235.00 price objective for the company. Wall Street Zen downgraded Sandisk from a "strong-buy" rating to a "buy" rating in a report on Saturday, December 27th. Susquehanna boosted their price target on Sandisk from $250.00 to $300.00 and gave the stock a "positive" rating in a research report on Monday, December 8th. Weiss Ratings restated a "sell (d+)" rating on shares of Sandisk in a report on Monday, December 29th. Finally, Zacks Research raised shares of Sandisk from a "hold" rating to a "strong-buy" rating in a research report on Friday, November 14th. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $327.89.

Sandisk Stock Down 4.6%

The firm has a market cap of $70.35 billion and a P/E ratio of 1,500.16. The firm's 50-day moving average price is $275.63 and its 200 day moving average price is $159.26. The company has a debt-to-equity ratio of 0.14, a current ratio of 3.29 and a quick ratio of 2.03.

Sandisk (NASDAQ:SNDK - Get Free Report) last announced its quarterly earnings data on Thursday, November 6th. The data storage provider reported $1.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.58 by $0.64. The firm had revenue of $2.31 billion for the quarter, compared to analyst estimates of $2.12 billion. The business's quarterly revenue was up 22.6% compared to the same quarter last year. Sandisk has set its Q2 2026 guidance at 3.000-3.40 EPS.

Insiders Place Their Bets

In other Sandisk news, Director Necip Sayiner sold 1,271 shares of the firm's stock in a transaction dated Wednesday, December 3rd. The shares were sold at an average price of $195.14, for a total value of $248,022.94. Following the transaction, the director owned 3,479 shares of the company's stock, valued at $678,892.06. This trade represents a 26.76% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.21% of the stock is currently owned by company insiders.

Institutional Trading of Sandisk

A number of institutional investors and hedge funds have recently made changes to their positions in SNDK. Vanguard Group Inc. acquired a new position in Sandisk during the 3rd quarter valued at approximately $1,970,388,000. State Street Corp acquired a new stake in Sandisk in the third quarter worth $491,053,000. Arrowstreet Capital Limited Partnership bought a new stake in Sandisk in the third quarter valued at $297,293,000. Bank of America Corp DE bought a new stake in Sandisk in the third quarter valued at $190,425,000. Finally, AQR Capital Management LLC acquired a new position in shares of Sandisk during the third quarter valued at $163,057,000.

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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