Sandisk (NASDAQ:SNDK) Shares Down 7.3% – Here’s What Happened

Sandisk Corporation (NASDAQ:SNDK)’s share price was down 7.3% on Tuesday . The stock traded as low as $1,485.02 and last traded at $1,617.70. 14,287,485 shares changed hands during mid-day trading, a decline of 14% from the average daily volume of 16,553,805 shares. The stock had previously closed at $1,744.43.

Trending Headlines about Sandisk

Here are the key news stories impacting Sandisk this week:

• Positive Sentiment: Shares jumped after reports that Meta signed a multi-year NAND flash supply agreement with Sandisk as part of its AI data-center buildout, reinforcing demand visibility for the company’s storage products. SanDisk (SNDK) Shares Spike 10% on Multi-Year Meta Storage Partnership
• Positive Sentiment: Wedbush raised its price target on Sandisk to $2,000 from $1,200 ahead of fiscal Q4 results, signaling confidence that earnings could beat expectations and that management’s guidance may prove conservative. SanDisk set for earnings upside as Wedbush lifts price target
• Positive Sentiment: The broader memory-chip group is recovering after the Samsung-led selloff, with Sandisk rebounding alongside peers as investors step back into the trade. Micron, SanDisk recover after Samsung-led selloff; fresh catalysts add to sentiment
• Neutral Sentiment: Sandisk announced it will report fiscal Q4 and fiscal 2026 results on August 5 and hold an Investor Day on August 13, giving investors upcoming event dates but no new operating update yet. Sandisk to Report Fiscal Fourth Quarter and Fiscal Year 2026 Results on August 5, 2026; Announces Investor Day on August 13, 2026
• Neutral Sentiment: Several articles noted that Sandisk remains highly volatile after a steep pullback earlier in the week, with valuation and growth expectations still dominating trading. SanDisk Stock Tumbles in Tech Sell-Off, but Wall Street Sees More Upside

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the company. KGI Securities assumed coverage on Sandisk in a report on Wednesday, March 18th. They set an “outperform” rating and a $992.00 price target for the company. Zacks Research downgraded Sandisk from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 1st. Jefferies Financial Group restated a “buy” rating and issued a $1,400.00 price objective on shares of Sandisk in a research note on Friday, May 1st. Wells Fargo & Company upped their price target on shares of Sandisk from $975.00 to $1,250.00 and gave the company an “equal weight” rating in a report on Friday, May 1st. Finally, Weiss Ratings raised Sandisk from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday. Two research analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $1,684.24.

Sandisk Trading Up 9.8%

The business’s fifty day moving average price is $1,692.15 and its 200 day moving average price is $978.66. The company has a market capitalization of $280.88 billion, a P/E ratio of 65.93 and a beta of 4.74.

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

Insiders Place Their Bets

In related news, insider Bernard Shek sold 600 shares of the company’s stock in a transaction dated Wednesday, July 1st. The shares were sold at an average price of $2,088.00, for a total transaction of $1,252,800.00. Following the transaction, the insider owned 31,515 shares in the company, valued at $65,803,320. This represents a 1.87% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Alper Ilkbahar sold 2,000 shares of the company’s stock in a transaction on Monday, June 1st. The stock was sold at an average price of $1,756.58, for a total value of $3,513,160.00. Following the transaction, the executive vice president directly owned 52,677 shares in the company, valued at approximately $92,531,364.66. This represents a 3.66% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 6,225 shares of company stock valued at $10,166,297. 0.21% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Sandisk

Several hedge funds have recently bought and sold shares of the company. KERR FINANCIAL PLANNING Corp bought a new position in shares of Sandisk during the 2nd quarter valued at about $34,000. Elevation Wealth Partners LLC lifted its position in Sandisk by 114.3% in the 2nd quarter. Elevation Wealth Partners LLC now owns 30 shares of the data storage provider’s stock valued at $68,000 after acquiring an additional 16 shares in the last quarter. Valley Wealth Managers Inc. acquired a new stake in shares of Sandisk in the 1st quarter valued at about $25,000. IMG Wealth Management Inc. acquired a new stake in shares of Sandisk in the 1st quarter valued at about $29,000. Finally, Dogwood Wealth Management LLC grew its holdings in shares of Sandisk by 14.3% during the second quarter. Dogwood Wealth Management LLC now owns 48 shares of the data storage provider’s stock worth $109,000 after buying an additional 6 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.