Sandisk (NASDAQ:SNDK) Sets New 52-Week High – What’s Next?

Sandisk Corporation (NASDAQ:SNDK) shares hit a new 52-week high on Thursday . The stock traded as high as $1,863.96 and last traded at $1,879.9580, with a volume of 10345726 shares. The stock had previously closed at $1,643.23.

Trending Headlines about Sandisk

Here are the key news stories impacting Sandisk this week:

• Positive Sentiment: SanDisk shares rose as memory stocks rebounded, with investors encouraged by SK Hynix’s capacity plan, which lifted sentiment across the NAND and storage group. SanDisk Jumps 14%, Western Digital Climbs 6% as Memory Stocks Rebound on SK Hynix’s Capacity Plan
• Positive Sentiment: Wall Street analysts have grown more optimistic on Sandisk, including BofA raising its price target to $2,100 and keeping a Buy rating, which supports the stock’s momentum. BofA Raises SanDisk (SNDK) Price Target to $2,100, Keeps Buy Rating
• Positive Sentiment: Analysts also highlighted Sandisk’s new business model, which has secured $42 billion in revenue commitments and could reduce earnings volatility tied to NAND pricing swings. Can SNDK’s New Business Models Reduce Dependence on NAND Volatility?

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on SNDK shares. Sanford C. Bernstein increased their target price on shares of Sandisk from $1,250.00 to $1,700.00 and gave the stock an “outperform” rating in a research note on Monday, May 4th. Royal Bank Of Canada increased their target price on shares of Sandisk from $650.00 to $1,000.00 and gave the stock a “sector perform” rating in a research note on Friday, May 1st. Melius Research set a $2,350.00 target price on shares of Sandisk in a research note on Monday, May 18th. Citigroup increased their target price on shares of Sandisk from $1,300.00 to $2,025.00 and gave the stock a “buy” rating in a research note on Tuesday, May 19th. Finally, Wells Fargo & Company increased their target price on shares of Sandisk from $975.00 to $1,250.00 and gave the stock an “equal weight” rating in a research note on Friday, May 1st. Three equities research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $1,580.67.

Sandisk Price Performance

The stock has a market cap of $278.78 billion, a price-to-earnings ratio of 65.49 and a beta of 4.87. The stock’s 50-day moving average is $1,237.43 and its 200 day moving average is $728.74.

Sandisk (NASDAQ:SNDK) last announced its quarterly earnings data on Thursday, April 30th. The data storage provider reported $23.41 EPS for the quarter, beating analysts’ consensus estimates of $14.17 by $9.24. The firm 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%. Sandisk’s revenue for the quarter was up 251.0% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.30) EPS. Sandisk has set its Q4 2026 guidance at 30.000-33.000 EPS. Analysts anticipate that Sandisk Corporation will post 64.01 EPS for the current year.

Insider Activity

In other Sandisk news, EVP Alper Ilkbahar sold 2,000 shares of the stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $1,756.58, for a total value of $3,513,160.00. Following the completion of the transaction, the executive vice president directly owned 52,677 shares of the company’s stock, valued at approximately $92,531,364.66. This trade represents a 3.66% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Bernard Shek sold 600 shares of the stock in a transaction dated Wednesday, June 3rd. The shares were sold at an average price of $1,736.00, for a total transaction of $1,041,600.00. Following the completion of the transaction, the insider directly owned 32,232 shares of the company’s stock, valued at approximately $55,954,752. This trade represents a 1.83% 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 have sold 5,625 shares of company stock worth $8,913,497 in the last three months. 0.21% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Allworth Financial LP increased its holdings in Sandisk by 84.2% in the fourth quarter. Allworth Financial LP now owns 4,521 shares of the data storage provider’s stock valued at $1,073,000 after buying an additional 2,067 shares in the last quarter. Tredje AP fonden purchased a new position in Sandisk in the fourth quarter valued at about $7,821,000. ProShare Advisors LLC increased its holdings in Sandisk by 1,301.5% in the fourth quarter. ProShare Advisors LLC now owns 33,637 shares of the data storage provider’s stock valued at $7,985,000 after buying an additional 31,237 shares in the last quarter. FourThought Financial Partners LLC purchased a new position in shares of Sandisk during the 4th quarter worth approximately $422,000. Finally, North Dakota State Investment Board purchased a new position in shares of Sandisk during the 4th quarter worth approximately $1,127,000.

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.