Sandisk (NASDAQ:SNDK) Trading Down 7.3% - What's Next?

Key Points

• SanDisk shares fell 7.3% in Tuesday trading, with the stock dropping from a prior close of $1,744.43 to as low as $1,485.02 amid elevated volatility.
• Despite the decline, the broader analyst outlook remains constructive: several firms recently raised price targets, and the consensus rating is still “Moderate Buy” with a $1,684.24 target.
• The move appears tied to a memory-sector selloff rather than company-specific weakness, even though SanDisk’s latest earnings were strong and it continues to benefit from AI-driven storage demand.

Shares of Sandisk Corporation (NASDAQ:SNDK - Get Free Report) traded down 7.3% during mid-day trading on Tuesday . The company traded as low as $1,485.02 and last traded at $1,617.70. 14,287,485 shares changed hands during trading, a decline of 14% from the average daily volume of 16,553,805 shares. The stock had previously closed at $1,744.43.

Sandisk News Roundup

Here are the key news stories impacting Sandisk this week:

• Positive Sentiment: Analysts and market commentators continue to argue that SanDisk still has strong long-term momentum, with recent coverage highlighting bullish price targets and the company’s exposure to AI-driven storage demand. Article Title
• Positive Sentiment: SanDisk’s long-term growth story is still supported by strong demand for NAND flash and AI-related data storage, and some reports say the recent pullback may be a reset rather than a trend reversal. Article Title
• Neutral Sentiment: Zacks published a momentum-focused piece arguing that SanDisk remains a top long-term momentum stock, reinforcing that sentiment toward the name is still constructive despite volatility. Article Title
• Negative Sentiment: SanDisk is being hit by a broad memory-sector selloff, with multiple reports saying Samsung-led weakness spread to U.S. chip stocks and pulled SNDK lower in premarket and early trading. Article Title
• Negative Sentiment: Some articles warn that the recent pullback could deepen if investors keep worrying about oversupply, valuation pressure, and a possible end to the memory-chip surge. Article Title

Analyst Ratings Changes

SNDK has been the topic of several research analyst reports. Wedbush lifted their price objective on shares of Sandisk from $740.00 to $1,200.00 and gave the stock an "outperform" rating in a research report on Wednesday, April 29th. Morgan Stanley raised their target price on Sandisk from $1,100.00 to $1,750.00 and gave the stock an "overweight" rating in a research report on Wednesday, June 3rd. Weiss Ratings downgraded Sandisk from a "buy (b-)" rating to a "hold (c+)" rating in a report on Wednesday, June 3rd. Citigroup upped their price target on Sandisk from $2,025.00 to $2,500.00 and gave the company a "buy" rating in a research report on Thursday, June 25th. Finally, Raymond James Financial reissued an "outperform" rating and issued a $1,470.00 price objective on shares of Sandisk in a research note on Friday, May 1st. Two investment analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $1,684.24.

Sandisk Trading Down 7.3%

The stock has a market cap of $239.57 billion, a P/E ratio of 56.23 and a beta of 4.74. The firm's fifty day moving average is $1,666.46 and its 200 day moving average is $958.11.

Sandisk (NASDAQ:SNDK - Get Free Report) last issued its quarterly 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. The company had revenue of $5.95 billion for 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 prior year, the business posted ($0.30) earnings per share. Sandisk has set its Q4 2026 guidance at 30.000-33.000 EPS. Research analysts forecast that Sandisk Corporation will post 64.01 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, EVP Alper Ilkbahar sold 2,000 shares of the company's stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $1,756.58, for a total transaction of $3,513,160.00. Following the completion of the transaction, the executive vice president directly 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. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Bernard Shek sold 600 shares of the stock in a transaction that occurred on Wednesday, July 1st. The shares were sold at an average price of $2,088.00, for a total value of $1,252,800.00. Following the completion of the sale, the insider directly owned 31,515 shares of the company's stock, valued at $65,803,320. This represents a 1.87% decrease in their ownership of the stock. 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 Trading of Sandisk

A number of hedge funds have recently bought and sold shares of the stock. Valley Wealth Managers Inc. acquired a new position in shares of Sandisk during the first quarter valued at about $25,000. Whittier Trust Co. acquired a new stake in Sandisk during the fourth quarter worth about $26,000. Greenline Wealth Management LLC bought a new position in Sandisk during the fourth quarter valued at about $26,000. Chung Wu Investment Group LLC bought a new position in Sandisk during the fourth quarter valued at about $27,000. Finally, IMG Wealth Management Inc. acquired a new position in Sandisk in the 1st quarter valued at approximately $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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