Sandisk (NASDAQ:SNDK) Reaches New 12-Month High – Here’s What Happened

Sandisk Corporation (NASDAQ:SNDK)’s share price reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $1,632.93 and last traded at $1,614.28, with a volume of 5179108 shares traded. The stock had previously closed at $1,478.69.

Trending Headlines about Sandisk

Here are the key news stories impacting Sandisk this week:

• Positive Sentiment: Wall Street remains increasingly bullish on Sandisk, with Mizuho raising its price target to $1,825 and maintaining an outperform rating as AI memory demand stays strong. Benzinga report on Mizuho target increase
• Positive Sentiment: Analysts continue to highlight Sandisk as a major beneficiary of the AI memory boom, with Barclays and others citing strong pricing, shortages, and contract demand as reasons for further upside. TipRanks article on more upside
• Positive Sentiment: Sandisk is rising with the broader AI infrastructure and semiconductor trade, which is lifting memory and storage stocks even without a fresh company-specific announcement. 247WallSt article on AI infrastructure trade
• Positive Sentiment: The company’s 2026 Red Dot Design Awards recognition added another small positive catalyst and helped reinforce momentum in the shares. TipRanks article on Red Dot Design Awards
• Neutral Sentiment: Some recent coverage focuses on the stock’s huge multiyear run and asks whether investors should buy, hold, or take profits after the rally, which may increase volatility but does not change the core bullish thesis. Zacks article on buy hold or take profits

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the stock. Wall Street Zen upgraded shares of Sandisk from a “buy” rating to a “strong-buy” rating in a report on Saturday, January 31st. KGI Securities initiated coverage on shares of Sandisk in a research report on Wednesday, March 18th. They set an “outperform” rating and a $992.00 price target on the stock. Jefferies Financial Group reiterated a “buy” rating and issued a $1,400.00 price objective on shares of Sandisk in a research report on Friday, May 1st. Raymond James Financial reissued an “outperform” rating and set a $1,470.00 target price on shares of Sandisk in a research note on Friday, May 1st. Finally, Arete Research raised Sandisk from a “hold” rating to a “strong-buy” rating in a research note on Monday, April 13th. Three investment analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $1,234.64.

Sandisk Price Performance

The company has a market cap of $243.11 billion, a PE ratio of 57.06 and a beta of 4.82. The company’s 50 day simple moving average is $1,054.51 and its two-hundred day simple moving average is $637.32.

Sandisk (NASDAQ:SNDK) last announced its 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 company had revenue of $5.95 billion during the quarter. Sandisk had a net margin of 34.19% and a return on equity of 44.06%. The company’s quarterly revenue was up 251.0% compared to the same quarter last year. During the same period last year, the business earned ($0.30) EPS. Sandisk has set its Q4 2026 guidance at 30.000-33.000 EPS. Sell-side analysts expect that Sandisk Corporation will post 63.58 EPS for the current fiscal year.

Insider Activity

In other Sandisk news, CAO Michael Pokorny sold 2,446 shares of the stock in a transaction dated Tuesday, May 12th. The shares were sold at an average price of $1,426.18, for a total transaction of $3,488,436.28. Following the completion of the transaction, the chief accounting officer owned 22,375 shares of the company’s stock, valued at $31,910,777.50. This trade 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 the SEC website. Also, Director Necip Sayiner sold 579 shares of the stock in a transaction dated 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 transaction, the director directly owned 2,900 shares of the company’s stock, valued at approximately $4,359,019. This trade represents a 16.64% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.21% of the company’s stock.

Institutional Trading of Sandisk

Several hedge funds have recently made changes to their positions in SNDK. Vanguard Group Inc. acquired a new stake in shares of Sandisk during the third quarter worth about $1,970,388,000. State Street Corp purchased a new stake in shares of Sandisk during the third quarter worth $491,053,000. Arrowstreet Capital Limited Partnership purchased a new stake in shares of Sandisk during the third quarter worth $297,293,000. Norges Bank purchased a new stake in shares of Sandisk during the fourth quarter worth $518,889,000. Finally, Bank of America Corp DE purchased a new stake in shares of Sandisk during the third quarter worth $190,425,000.

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.