Sandisk (NASDAQ:SNDK) Trading 5% Higher - Here's What Happened

Key Points

• Sandisk shares rose 5% on Tuesday, trading as high as $1,812.54 as investor sentiment improved around the stock.
• Analysts remain broadly bullish, with firms like Wedbush, Evercore ISI, Goldman Sachs, Cantor Fitzgerald, and Sanford C. Bernstein raising expectations and price targets ahead of the company’s August 5 earnings report.
• Recent coverage points to AI-driven memory demand and stronger pricing trends as the main drivers behind the rally, though some commentary warns the stock’s huge run-up and volatility could limit further upside.

Sandisk Corporation (NASDAQ:SNDK - Get Free Report) shares were up 5% during trading on Tuesday . The company traded as high as $1,812.54 and last traded at $1,757.82. Approximately 9,516,761 shares changed hands during mid-day trading, a decline of 42% from the average daily volume of 16,381,541 shares. The stock had previously closed at $1,673.97.

Key Sandisk News

Here are the key news stories impacting Sandisk this week:

• Positive Sentiment: Wedbush reiterated a bullish view ahead of Sandisk’s August 5 earnings report, raising revenue and earnings expectations above consensus and arguing that memory pricing trends support further upside. Wedbush Pounds the Table—Buy Sandisk Before August 5 Earnings
• Positive Sentiment: Evercore ISI and Goldman Sachs both lifted price targets sharply, with analysts arguing Sandisk still has room to run thanks to AI-driven memory demand and a valuation that remains appealing versus peers. SanDisk Stock Price Forecast: Why Evercore’s Amit Daryanani Raised SNDK’s Price Target by More Than 120%
• Positive Sentiment: Several articles argue the recent pullback is a buying opportunity, citing strong AI inference demand, lower valuations, and momentum-stock status for SNDK. Best Momentum Stocks to Buy for July 13th
• Positive Sentiment: SK Hynix’s rally helped lift sentiment across memory stocks, including Sandisk, reinforcing the AI-memory supercycle trade. SK Hynix ADR Soars 19% as Leveraged ETFs Launch, Lifting Micron, SanDisk, Western Digital
• Neutral Sentiment: Commentary today questioned whether Sandisk’s massive run has more room left, suggesting investors are weighing strong AI demand against the risk that much of the easy money has already been made. Price Prediction: From $40 to $2,000 in a Year. Where is SanDisk Headed Now?
• Negative Sentiment: Shares were pressured by a broader selloff in chip and memory stocks after weak guidance from SK Hynix and renewed geopolitical risk, which has weighed on the entire AI-memory trade. Micron, SanDisk, Western Digital Fall 6% as SK Hynix's Weak Outlook Rattles Memory Stocks
• Negative Sentiment: Technical-trading coverage notes SNDK recently suffered a sharp pullback and remains highly volatile, even as analysts stay constructive. SanDisk Stock Price Outlook: What Technical Analysis Says Now

Analysts Set New Price Targets

Several research firms have issued reports on SNDK. Cantor Fitzgerald raised their target price on Sandisk from $1,800.00 to $2,900.00 and gave the stock an "overweight" rating in a research note on Monday, June 8th. Melius Research set a $2,350.00 price target on Sandisk in a report on Monday, May 18th. Susquehanna raised their price objective on Sandisk from $2,000.00 to $3,250.00 and gave the stock a "positive" rating in a research report on Friday, May 29th. Raymond James Financial restated an "outperform" rating and issued a $1,470.00 price objective on shares of Sandisk in a report on Friday, May 1st. Finally, Sanford C. Bernstein upped their target price 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. Two research analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $1,803.29.

Sandisk Price Performance

The business has a 50 day simple moving average of $1,737.85 and a 200 day simple moving average of $1,011.93. The company has a market capitalization of $260.32 billion, a price-to-earnings ratio of 61.10 and a beta of 4.74.

Sandisk (NASDAQ:SNDK - Get Free Report) last issued its quarterly earnings data on Thursday, April 30th. The data storage provider reported $23.41 earnings per share for the quarter, beating analysts' consensus estimates of $14.17 by $9.24. The business 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 quarterly revenue was up 251.0% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.30) earnings per share. Sandisk has set its Q4 2026 guidance at 30.000-33.000 EPS. On average, equities research analysts predict that Sandisk Corporation will post 64.95 EPS for the current year.

Insider Transactions at Sandisk

In other Sandisk news, EVP Alper Ilkbahar sold 2,000 shares of the business's stock in a transaction dated 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 sale, the executive vice president directly owned 52,677 shares in the company, valued at $92,531,364.66. This represents a 3.66% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Necip Sayiner sold 579 shares of the stock in a transaction dated Friday, May 8th. The stock was sold at an average price of $1,503.11, for a total transaction of $870,300.69. Following the sale, the director directly owned 2,900 shares in the company, valued at $4,359,019. This represents a 16.64% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 6,225 shares of company stock valued at $10,166,297. 0.21% of the stock is owned by insiders.

Hedge Funds Weigh In On Sandisk

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. KERR FINANCIAL PLANNING Corp acquired a new stake in Sandisk in the second quarter valued at approximately $34,000. Ramsey Quantitative Systems purchased a new position in shares of Sandisk during the second quarter worth about $50,000. Elevation Wealth Partners LLC increased its position in Sandisk by 114.3% during the second quarter. Elevation Wealth Partners LLC now owns 30 shares of the data storage provider's stock worth $68,000 after buying an additional 16 shares during the period. Valley Wealth Managers Inc. acquired a new position in shares of Sandisk in the 1st quarter valued at $25,000. Finally, IMG Wealth Management Inc. acquired a new stake in Sandisk during the 1st quarter worth $29,000.

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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