Sandisk Corporation (NASDAQ:SNDK - Get Free Report) shot up 10.8% during trading on Tuesday . The company traded as high as $1,446.62 and last traded at $1,427.62. 14,231,170 shares changed hands during trading, a decline of 14% from the average session volume of 16,536,461 shares. The stock had previously closed at $1,288.03.
More Sandisk News
Here are the key news stories impacting Sandisk this week:
- Positive Sentiment: Sandisk and SK hynix released the first open High Bandwidth Flash (HBF) technical specification through the Open Compute Project. The standard, developed with contributions from Google and other industry participants, is intended to support AI-inference workloads and could help create a new market for high-bandwidth flash memory. The announcement improves Sandisk’s long-term growth narrative and commercialization prospects. Sandisk and SK hynix Advance Global Standardization of High Bandwidth Flash
- Positive Sentiment: A separate Sandisk-Kioxia technology announcement highlighted record bit density for next-generation QLC 3D NAND. The 10th-generation flash technology is aimed at AI storage architectures, cloud platforms and other data-intensive applications, reinforcing expectations for stronger enterprise and data-center demand. New 3D Flash Memory Technology from Kioxia and Sandisk
- Positive Sentiment: Expectations for the upcoming earnings report are favorable. Analysts cited rising AI data-center SSD demand, firmer NAND pricing, stronger edge sales from AI PCs and premium smartphones, and increasing TLC/QLC adoption. One bullish preview projects fiscal Q4 revenue of approximately $8.4 billion to $8.7 billion and non-GAAP EPS near $36, above consensus. Sandisk Q4 Preview From A Bear
- Positive Sentiment: Sandisk is benefiting from a broader rebound in AI-linked memory stocks. Stronger-than-expected Palantir results and evidence that businesses are moving from AI experimentation to deployment helped revive demand for semiconductor shares, including SNDK. Why Micron, AMD and SanDisk stocks are leading today's pre-market rally
- Neutral Sentiment: The earnings report remains the immediate catalyst and risk. Investors will be watching shipment growth versus price increases, enterprise SSD demand, the Stargate data-center ramp, fiscal 2027 contract coverage and first-quarter margin guidance. The stock’s recent volatility means a strong report may already be partly anticipated. SanDisk Stock Faces Earnings Test
- Negative Sentiment: Key downside risks include NAND oversupply, expansion by Chinese competitors such as YMTC, pricing pressure under multi-year contracts and questions about whether recent margin gains are sustainable. A disappointing outlook could trigger renewed selling after the rebound. Sandisk Q4 Earnings Preview
Wall Street Analyst Weigh In
SNDK has been the topic of several analyst reports. Cantor Fitzgerald lifted their price target on shares of Sandisk from $1,800.00 to $2,900.00 and gave the stock an "overweight" rating in a research note on Monday, June 8th. Barclays raised Sandisk from an "equal weight" rating to an "overweight" rating and lifted their target price for the stock from $1,200.00 to $2,300.00 in a research report on Tuesday, May 26th. Morgan Stanley boosted their price target on Sandisk from $1,100.00 to $1,750.00 and gave the stock an "overweight" rating in a research note on Wednesday, June 3rd. Wedbush increased their price target on Sandisk from $1,200.00 to $2,000.00 and gave the company an "outperform" rating in a report on Thursday, July 9th. Finally, Royal Bank Of Canada raised their price objective on Sandisk from $650.00 to $1,000.00 and gave the company a "sector perform" rating in a research note on Friday, May 1st. Three 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 stock. Based on data from MarketBeat.com, Sandisk has an average rating of "Moderate Buy" and an average price target of $1,811.38.
Get Our Latest Stock Analysis on Sandisk
Sandisk Stock Performance
The company has a market capitalization of $211.42 billion, a price-to-earnings ratio of 49.62 and a beta of 5.21. The company's fifty day simple moving average is $1,725.33 and its two-hundred day simple moving average is $1,128.02.
Insider Activity at Sandisk
In other Sandisk news, CAO Michael Pokorny sold 2,446 shares of the company's stock in a transaction that occurred on Tuesday, May 12th. The stock was sold at an average price of $1,426.18, for a total transaction of $3,488,436.28. Following the sale, the chief accounting officer owned 22,375 shares in the company, valued at $31,910,777.50. This represents a 9.85% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP Alper Ilkbahar sold 2,000 shares of the 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 value of $3,513,160.00. Following the transaction, the executive vice president directly owned 52,677 shares in the company, valued at approximately $92,531,364.66. This represents a 3.66% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 6,225 shares of company stock worth $10,166,297. 0.21% of the stock is currently owned by company insiders.
Institutional Investors Weigh In On Sandisk
Institutional investors have recently made changes to their positions in the company. Allworth Financial LP boosted its position in shares of Sandisk by 84.2% in the 4th quarter. Allworth Financial LP now owns 4,521 shares of the data storage provider's stock valued at $1,073,000 after purchasing an additional 2,067 shares during the period. Tredje AP fonden acquired a new stake in Sandisk during the 4th quarter worth about $7,821,000. ProShare Advisors LLC raised its holdings in Sandisk by 1,301.5% during the 4th quarter. ProShare Advisors LLC now owns 33,637 shares of the data storage provider's stock worth $7,985,000 after buying an additional 31,237 shares during the period. FourThought Financial Partners LLC purchased a new stake in Sandisk during the fourth quarter valued at about $422,000. Finally, North Dakota State Investment Board purchased a new stake in Sandisk during the fourth quarter valued at about $1,127,000.
About Sandisk
(
Get Free Report)
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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