Sandisk (NASDAQ:SNDK) Sets New 12-Month High on Analyst Upgrade

Sandisk Corporation (NASDAQ:SNDK)’s stock price hit a new 52-week high during trading on Monday after Royal Bank Of Canada raised their price target on the stock from $650.00 to $1,000.00. Royal Bank Of Canada currently has a sector perform rating on the stock. Sandisk traded as high as $1,206.00 and last traded at $1,223.0250, with a volume of 1047324 shares changing hands. The stock had previously closed at $1,187.00.

A number of other brokerages also recently issued reports on SNDK. Raymond James Financial reiterated an “outperform” rating and issued a $1,470.00 price objective on shares of Sandisk in a research report on Friday. Morgan Stanley reaffirmed an “overweight” rating and issued a $1,100.00 price target on shares of Sandisk in a report on Monday, April 27th. Sanford C. Bernstein set a $1,250.00 price objective on shares of Sandisk and gave the stock an “outperform” rating in a research report on Thursday, April 9th. Jefferies Financial Group reaffirmed a “buy” rating and set a $1,400.00 price objective on shares of Sandisk in a report on Friday. Finally, Barclays lifted their target price on shares of Sandisk from $750.00 to $1,200.00 and gave the stock an “equal weight” rating in a research report on Friday. Three analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, four have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $1,011.05.

Insider Activity

In other news, Director Miyuki Suzuki sold 3,500 shares of the company’s stock in a transaction dated Wednesday, February 25th. The shares were sold at an average price of $627.53, for a total transaction of $2,196,355.00. Following the completion of the transaction, the director directly owned 9,907 shares of the company’s stock, valued at approximately $6,216,939.71. This represents a 26.11% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.21% of the company’s stock.

Institutional Investors Weigh In On Sandisk

Several hedge funds and other institutional investors have recently made changes to their positions in the business. GHP Investment Advisors Inc. raised its position in Sandisk by 12.0% in the first quarter. GHP Investment Advisors Inc. now owns 121 shares of the data storage provider’s stock worth $77,000 after acquiring an additional 13 shares during the period. Blair William & Co. IL boosted its holdings in Sandisk by 0.3% in the 4th quarter. Blair William & Co. IL now owns 5,287 shares of the data storage provider’s stock worth $1,255,000 after buying an additional 17 shares during the period. Larson Financial Group LLC increased its stake in Sandisk by 20.2% in the 4th quarter. Larson Financial Group LLC now owns 220 shares of the data storage provider’s stock worth $52,000 after buying an additional 37 shares in the last quarter. Composition Wealth LLC lifted its position in shares of Sandisk by 0.4% in the fourth quarter. Composition Wealth LLC now owns 10,299 shares of the data storage provider’s stock valued at $2,445,000 after acquiring an additional 41 shares in the last quarter. Finally, Westfuller Advisors LLC lifted its position in shares of Sandisk by 51.8% in the fourth quarter. Westfuller Advisors LLC now owns 126 shares of the data storage provider’s stock valued at $30,000 after acquiring an additional 43 shares in the last quarter.

Sandisk Stock Performance

The company has a quick ratio of 3.62, a current ratio of 4.78 and a debt-to-equity ratio of 0.06. The business has a 50 day moving average price of $753.17 and a two-hundred day moving average price of $474.35. The stock has a market cap of $183.29 billion, a P/E ratio of 43.07 and a beta of 4.82.

Sandisk (NASDAQ:SNDK) last posted its quarterly earnings results on Thursday, April 30th. The data storage provider reported $23.41 earnings per share for the quarter, topping the consensus estimate of $14.17 by $9.24. The business had revenue of $5.95 billion during 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 quarter in the previous year, the company earned ($0.30) earnings per share. Sandisk has set its Q4 2026 guidance at 30.000-33.000 EPS. On average, sell-side analysts forecast that Sandisk Corporation will post 47.45 earnings per share for the current fiscal year.

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.