Sandisk (NASDAQ:SNDK) Reaches New 1-Year High – Still a Buy?

Sandisk Corporation (NASDAQ:SNDK)’s stock price hit a new 52-week high during trading on Monday . The stock traded as high as $1,600.00 and last traded at $1,543.8160, with a volume of 3086622 shares changing hands. The stock had previously closed at $1,562.34.

Key Sandisk News

Here are the key news stories impacting Sandisk this week:

• Positive Sentiment: Recent commentary continues to support the AI memory thesis, with analysts and market watchers saying Sandisk remains well positioned to benefit from rising hyperscaler spending and strong demand for NAND and storage products. Why These 3 High-Flying Memory & Storage Stocks Will Rise Further
• Positive Sentiment: Sandisk’s latest earnings and guidance were viewed as strong, reinforcing the bull case after the company reported a record quarter and raised optimism around future AI storage demand. SanDisk (SNDK) Delivered a Record Quarter. The AI Storage Bull Case Is Intact
• Positive Sentiment: Wall Street sentiment remains upbeat, with several firms reiterating buy ratings and some targets far above current trading levels, including a recent $2,000 price target from Susquehanna. SanDisk (SNDK) Stock Soars as Susquehanna Sets Bold $2,000 Price Target
• Neutral Sentiment: A director sold a small stake, which may add to near-term caution, but the transaction was modest relative to the executive’s remaining holdings and does not appear to change the broader story. Necip Sayiner Sells 579 Shares of Sandisk (NASDAQ:SNDK) Stock
• Negative Sentiment: The biggest drag today is sector-wide profit-taking: memory and chip names sold off sharply, with SanDisk cited as one of the leaders of the decline as investors rotated out of overheated semiconductor trades. SanDisk, Micron Stocks Plummet As Korea Shockwave Batters The Great Memory Boom
• Negative Sentiment: Several reports also warn the stock is technically overextended after a massive year-to-date surge, suggesting a pullback was due even without a fundamental setback. What’s Going On With SanDisk Stock Tuesday?

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. Bank of America boosted their price objective on shares of Sandisk from $900.00 to $1,080.00 and gave the company a “buy” rating in a research report on Friday, April 17th. KGI Securities assumed coverage on shares of Sandisk in a research report on Wednesday, March 18th. They issued an “outperform” rating and a $992.00 price objective for the company. Weiss Ratings raised shares of Sandisk from a “sell (d+)” rating to a “hold (c+)” rating in a research report on Wednesday, May 6th. Sanford C. Bernstein boosted their price objective on shares of Sandisk from $1,250.00 to $1,700.00 and gave the company an “outperform” rating in a research report on Monday, May 4th. Finally, Wedbush upped their price target 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. Three investment analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and five have issued a Hold rating to the company. According to MarketBeat.com, Sandisk has an average rating of “Moderate Buy” and a consensus price target of $1,065.81.

Sandisk Price Performance

The stock’s 50-day moving average is $850.04 and its 200 day moving average is $529.60. The company has a market cap of $215.03 billion, a PE ratio of 50.47 and a beta of 4.82.

Sandisk (NASDAQ:SNDK) 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 analysts’ consensus estimates of $14.17 by $9.24. Sandisk had a net margin of 34.19% and a return on equity of 44.06%. The business had revenue of $5.95 billion for the quarter. During the same quarter in the previous year, the company posted ($0.30) EPS. The company’s revenue for the quarter 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, analysts expect that Sandisk Corporation will post 63.93 EPS for the current year.

Insider Buying and Selling

In other news, Director Miyuki Suzuki sold 3,500 shares of the stock in a transaction on Wednesday, February 25th. The shares were sold at an average price of $627.53, for a total value of $2,196,355.00. Following the sale, the director owned 9,907 shares in the company, valued at $6,216,939.71. This represents a 26.11% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Necip Sayiner sold 579 shares of the stock in a transaction on Friday, May 8th. The stock was sold at an average price of $1,503.11, for a total transaction of $870,300.69. Following the completion of the sale, the director owned 2,900 shares in the company, valued at $4,359,019. The trade was a 16.64% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.21% of the company’s stock.

Institutional Trading of Sandisk

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. a16z Perennial Management L.P. acquired a new stake in shares of Sandisk in the first quarter worth $375,000. Westpac Banking Corp acquired a new stake in shares of Sandisk in the first quarter worth $245,000. Himension Capital Singapore PTE. LTD. acquired a new stake in shares of Sandisk in the first quarter worth $43,000. Temasek Holdings Private Ltd purchased a new stake in Sandisk during the first quarter worth $19,368,000. Finally, PNC Financial Services Group Inc. boosted its holdings in Sandisk by 86.5% during the first quarter. PNC Financial Services Group Inc. now owns 30,049 shares of the data storage provider’s stock worth $19,091,000 after buying an additional 13,940 shares in the last quarter.

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.