Sandisk (NASDAQ:SNDK) Trading Down 3.9% - Should You Sell?

Key Points

• Sandisk shares fell 3.9% on Thursday, even though the stock remains near record highs after an enormous rally over the past year.
• Analysts are still broadly bullish on SanDisk, citing strong AI-driven memory demand and tight NAND supply; several firms raised price targets, with consensus rating at Buy.
• Mixed signals are emerging: insiders have sold shares recently and some commentators warn the valuation may be stretched, while the stock also slipped alongside other chip names after Broadcom’s weaker outlook raised near-term sector concerns.

Sandisk Corporation (NASDAQ:SNDK - Get Free Report) shares were down 3.9% during trading on Thursday . The company traded as low as $1,725.08 and last traded at $1,759.68. Approximately 10,378,889 shares were traded during trading, a decline of 41% from the average daily volume of 17,444,107 shares. The stock had previously closed at $1,831.50.

Key Sandisk News

Here are the key news stories impacting Sandisk this week:

• Positive Sentiment: Analysts remain broadly bullish on SanDisk’s role in the AI memory boom, with Goldman Sachs and others pointing to a likely memory supply deficit and strong pricing power through 2028. What Is Going On With SanDisk Stock On Thursday?
• Positive Sentiment: Recent coverage from multiple outlets highlighted SanDisk as a top AI infrastructure beneficiary, with memory demand and NAND pricing trends supporting the stock’s long-term earnings outlook. Buy These 5 Growth Stocks in June Amid Massive AI Infrastructure Boost
• Positive Sentiment: SanDisk has continued to attract upbeat price-target revisions and “buy” calls, reinforcing investor confidence that earnings momentum can remain strong after its recent surge. Sandisk (SNDK) Soars to All-Time High; Up 4,573% in 1 Year
• Neutral Sentiment: EVP Alper Ilkbahar sold 2,000 shares, a transaction that appears routine in size relative to his holdings, but it can still make some investors more cautious. SEC filing
• Negative Sentiment: SanDisk is being pulled lower along with other semiconductor stocks after Broadcom’s outlook disappointed the market, sparking concern that the AI trade may be cooling in the near term. Micron (MU), SanDisk (SNDK) Stocks Slide after Broadcom Outlook and New Competition Threat
• Negative Sentiment: Some commentary says SanDisk’s rally may have outrun fundamentals, with valuation now looking stretched after the stock’s explosive move to record levels. Price Prediction: Up 1400% in 2026, This Is Where We See SanDisk Heading

Analyst Ratings Changes

Several equities analysts have weighed in on the company. Morgan Stanley increased their price objective on Sandisk from $1,100.00 to $1,750.00 and gave the company an "overweight" rating in a report on Wednesday. Raymond James Financial reaffirmed an "outperform" rating and issued a $1,470.00 price target on shares of Sandisk in a report on Friday, May 1st. KGI Securities started coverage on Sandisk in a research note on Wednesday, March 18th. They set an "outperform" rating and a $992.00 price objective for the company. Sanford C. Bernstein boosted their price target on Sandisk from $1,250.00 to $1,700.00 and gave the company an "outperform" rating in a report on Monday, May 4th. Finally, Wells Fargo & Company increased their target price on Sandisk from $975.00 to $1,250.00 and gave the company an "equal weight" rating in a research note on Friday, May 1st. Three research analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and three have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Buy" and a consensus price target of $1,398.27.

Sandisk Stock Down 3.9%

The company has a 50 day simple moving average of $1,135.85 and a two-hundred day simple moving average of $679.14. The company has a market capitalization of $260.59 billion, a P/E ratio of 61.16 and a beta of 4.87.

Sandisk (NASDAQ:SNDK - Get Free Report) last announced its earnings results on Thursday, April 30th. The data storage provider reported $23.41 earnings per share (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 period last year, the business posted ($0.30) EPS. The firm's revenue was up 251.0% compared to the same quarter last year. Sandisk has set its Q4 2026 guidance at 30.000-33.000 EPS. As a group, research analysts expect that Sandisk Corporation will post 63.58 EPS for the current fiscal year.

Insider Transactions at Sandisk

In other Sandisk news, CAO Michael Pokorny sold 2,446 shares of the firm's stock in a transaction on Tuesday, May 12th. The stock was sold at an average price of $1,426.18, for a total value of $3,488,436.28. Following the sale, the chief accounting officer directly owned 22,375 shares in the company, valued at $31,910,777.50. This trade represents a 9.85% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Necip Sayiner sold 579 shares of the firm's stock in a transaction on Friday, May 8th. The shares were sold at an average price of $1,503.11, for a total value of $870,300.69. Following the completion of the sale, the director owned 2,900 shares in the company, valued at approximately $4,359,019. This represents a 16.64% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 5,025 shares of company stock worth $7,871,897 in the last ninety days. Insiders own 0.21% of the company's stock.

Institutional Trading of Sandisk

A number of hedge funds and other institutional investors have recently bought and sold shares of SNDK. Osaic Holdings Inc. acquired a new stake in Sandisk in the second quarter valued at $317,000. Merit Financial Group LLC purchased a new position in shares of Sandisk during the third quarter worth about $408,000. Federated Hermes Inc. purchased a new position in shares of Sandisk during the third quarter worth about $88,000. Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of Sandisk during the third quarter worth about $41,000. Finally, Keybank National Association OH purchased a new position in shares of Sandisk during the third quarter worth about $595,000.

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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