Sandisk (NASDAQ:SNDK) Trading Up 7.6% - Here's Why

Key Points

• Sandisk shares rose 7.6% during Thursday trading, extending a volatile run as investors reacted to a series of positive catalysts.
• Reports that Meta signed a multi-year NAND flash supply deal with Sandisk boosted sentiment by highlighting stronger demand tied to AI data-center spending.
• Wall Street remains upbeat on the stock: Wedbush lifted its price target to $2,000, while several other firms recently raised targets and maintain buy-style ratings ahead of Sandisk’s upcoming August 5 earnings report.

Sandisk Corporation (NASDAQ:SNDK - Get Free Report)'s stock price rose 7.6% during mid-day trading on Thursday . The stock traded as high as $1,952.59 and last traded at $1,858.27. Approximately 13,089,341 shares changed hands during trading, a decline of 21% from the average session volume of 16,493,072 shares. The stock had previously closed at $1,727.18.

More Sandisk News

Here are the key news stories impacting Sandisk this week:

• Positive Sentiment: Shares jumped after reports that Meta signed a multi-year NAND flash supply agreement with Sandisk as part of its AI data-center buildout, reinforcing demand visibility for the company’s storage products. SanDisk (SNDK) Shares Spike 10% on Multi-Year Meta Storage Partnership
• Positive Sentiment: Wedbush raised its price target on Sandisk to $2,000 from $1,200 ahead of fiscal Q4 results, signaling confidence that earnings could beat expectations and that management’s guidance may prove conservative. SanDisk set for earnings upside as Wedbush lifts price target
• Positive Sentiment: The broader memory-chip group is recovering after the Samsung-led selloff, with Sandisk rebounding alongside peers as investors step back into the trade. Micron, SanDisk recover after Samsung-led selloff; fresh catalysts add to sentiment
• Neutral Sentiment: Sandisk announced it will report fiscal Q4 and fiscal 2026 results on August 5 and hold an Investor Day on August 13, giving investors upcoming event dates but no new operating update yet. Sandisk to Report Fiscal Fourth Quarter and Fiscal Year 2026 Results on August 5, 2026; Announces Investor Day on August 13, 2026
• Neutral Sentiment: Several articles noted that Sandisk remains highly volatile after a steep pullback earlier in the week, with valuation and growth expectations still dominating trading. SanDisk Stock Tumbles in Tech Sell-Off, but Wall Street Sees More Upside

Analyst Upgrades and Downgrades

Several research firms have weighed in on SNDK. Barclays raised Sandisk from an "equal weight" rating to an "overweight" rating and raised their price target for the company from $1,200.00 to $2,300.00 in a report on Tuesday, May 26th. Citigroup boosted their price objective on Sandisk from $2,025.00 to $2,500.00 and gave the stock a "buy" rating in a report on Thursday, June 25th. Evercore reaffirmed an "outperform" rating and issued a $1,400.00 target price on shares of Sandisk in a research note on Friday, May 1st. Susquehanna lifted their target price on shares of Sandisk from $2,000.00 to $3,250.00 and gave the company a "positive" rating in a research report on Friday, May 29th. Finally, Arete Research raised shares of Sandisk from a "hold" rating to a "strong-buy" rating in a research note on Monday, April 13th. Two 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 stock presently has an average rating of "Moderate Buy" and a consensus price target of $1,684.24.

Sandisk Stock Performance

The stock has a market capitalization of $275.19 billion, a P/E ratio of 64.59 and a beta of 4.74. The firm has a 50-day moving average price of $1,692.15 and a 200 day moving average price of $978.66.

Sandisk (NASDAQ:SNDK - Get Free Report) last released its earnings results on Thursday, April 30th. The data storage provider reported $23.41 earnings per share for the quarter, topping analysts' consensus estimates of $14.17 by $9.24. Sandisk had a return on equity of 44.06% and a net margin of 34.19%.The company had revenue of $5.95 billion during the quarter. During the same quarter in the previous year, the firm earned ($0.30) EPS. The business's quarterly 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. On average, equities analysts anticipate that Sandisk Corporation will post 64.01 earnings per share for the current fiscal year.

Insider Buying and Selling at Sandisk

In related news, CAO Michael Pokorny sold 2,446 shares of Sandisk stock in a transaction on Tuesday, May 12th. The shares were sold at an average price of $1,426.18, for a total value of $3,488,436.28. Following the transaction, the chief accounting officer owned 22,375 shares in the company, valued at $31,910,777.50. This trade represents a 9.85% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Bernard Shek sold 600 shares of the business's stock in a transaction on Wednesday, July 1st. The stock was sold at an average price of $2,088.00, for a total transaction 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. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 6,225 shares of company stock worth $10,166,297 over the last 90 days. Company insiders own 0.21% of the company's stock.

Institutional Investors Weigh In On Sandisk

Hedge funds and other institutional investors have recently modified their holdings of the stock. Allworth Financial LP raised its position in Sandisk by 84.2% during 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 last quarter. Tredje AP fonden bought a new position in shares of Sandisk in the 4th quarter worth approximately $7,821,000. ProShare Advisors LLC lifted its stake in shares of Sandisk by 1,301.5% in the 4th quarter. ProShare Advisors LLC now owns 33,637 shares of the data storage provider's stock valued at $7,985,000 after purchasing an additional 31,237 shares during the period. FourThought Financial Partners LLC purchased a new position in shares of Sandisk in the 4th quarter valued at approximately $422,000. Finally, North Dakota State Investment Board bought a new stake in shares of Sandisk during the fourth quarter valued at approximately $1,127,000.

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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