Sandisk (NASDAQ:SNDK) Shares Up 4.6% – Time to Buy?

Shares of Sandisk Corporation (NASDAQ:SNDK) traded up 4.6% on Wednesday . The stock traded as high as $261.37 and last traded at $256.10. 3,430,432 shares were traded during mid-day trading, a decline of 41% from the average session volume of 5,853,226 shares. The stock had previously closed at $244.90.

Analyst Ratings Changes

A number of research analysts recently issued reports on SNDK shares. Sanford C. Bernstein upgraded shares of Sandisk to a “strong-buy” rating in a research report on Tuesday, September 16th. Mizuho upped their price target on Sandisk to $215.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 28th. UBS Group reiterated an “overweight” rating and issued a $230.00 price target on shares of Sandisk in a report on Monday, November 3rd. Citigroup raised their price objective on Sandisk from $150.00 to $280.00 and gave the company a “buy” rating in a research note on Friday, November 7th. Finally, Benchmark reaffirmed a “buy” rating on shares of Sandisk in a research report on Thursday, December 18th. Three analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Sandisk has a consensus rating of “Moderate Buy” and an average target price of $213.33.

Sandisk Stock Performance

The company has a debt-to-equity ratio of 0.14, a current ratio of 3.29 and a quick ratio of 2.03. The company’s fifty day moving average price is $211.11 and its 200 day moving average price is $114.73. The company has a market cap of $36.46 billion and a PE ratio of 777.56.

Sandisk (NASDAQ:SNDK) last posted its earnings results on Thursday, November 6th. The data storage provider reported $1.22 EPS for the quarter, topping the consensus estimate of $0.58 by $0.64. The firm had revenue of $2.31 billion for the quarter, compared to the consensus estimate of $2.12 billion. Sandisk’s quarterly revenue was up 22.6% on a year-over-year basis. Sandisk has set its Q2 2026 guidance at 3.000-3.40 EPS.

Insider Transactions at Sandisk

In other news, Director Necip Sayiner sold 1,271 shares of the stock in a transaction that occurred on Wednesday, December 3rd. The shares were sold at an average price of $195.14, for a total transaction of $248,022.94. Following the completion of the transaction, the director directly owned 3,479 shares of the company’s stock, valued at $678,892.06. This represents a 26.76% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.21% of the company’s stock.

Institutional Trading of Sandisk

A number of large investors have recently bought and sold shares of the company. AIA Group Ltd purchased a new position in shares of Sandisk during the 3rd quarter valued at $1,339,000. Allworth Financial LP bought a new position in Sandisk during the third quarter worth about $275,000. IFP Advisors Inc purchased a new position in shares of Sandisk in the third quarter worth about $112,000. Swiss Life Asset Management Ltd raised its position in shares of Sandisk by 27.6% in the third quarter. Swiss Life Asset Management Ltd now owns 6,090 shares of the data storage provider’s stock valued at $683,000 after purchasing an additional 1,318 shares during the period. Finally, Polar Asset Management Partners Inc. purchased a new stake in shares of Sandisk during the 3rd quarter valued at approximately $241,000.

About Sandisk

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.