Sandisk (NASDAQ:SNDK) Stock Price Down 10.8% – Here’s What Happened

Sandisk Corporation (NASDAQ:SNDK) fell 10.8% on Friday . The company traded as low as $1,411.50 and last traded at $1,436.56. Approximately 13,874,880 shares were traded during trading, a decline of 15% from the average session volume of 16,303,954 shares. The stock had previously closed at $1,610.33.

More Sandisk News

Here are the key news stories impacting Sandisk this week:

• Positive Sentiment: Investors still see Sandisk as a key AI storage play, with recent coverage highlighting strong demand for enterprise storage, tight memory supply, and continued enthusiasm for NAND/DRAM exposure ahead of earnings. SanDisk vs. Seagate: Which AI Storage Stock Is the Better Buy Ahead of Q4 Earnings?
• Positive Sentiment: Analysts continue to point to Sandisk’s strong earnings history and the potential for another beat, which supports the stock despite near-term volatility. Will Sandisk Corporation (SNDK) Beat Estimates Again in Its Next Earnings Report?
• Positive Sentiment: New ETF products tied to memory names underscore investor demand for the trade and may keep attention on Sandisk as a leading beneficiary of the AI infrastructure boom. QUICK SPARK: Micron, SK Hynix, SanDisk Fans Get a New ETF to Turbocharge the DRAM Trade
• Neutral Sentiment: Sandisk is scheduled to report fiscal Q4 results on August 5, and options traders are positioning for a large move, keeping the stock volatile into earnings. SanDisk (SNDK) Will Report Q4 Earnings on August 5. Options Traders Brace for 25% Move
• Neutral Sentiment: Coverage this week also noted that Sandisk has been a huge winner in 2026, but that the stock has already pulled back sharply from its highs, suggesting a mix of long-term optimism and near-term caution. SanDisk stock down 33% from YTD high: Experts predict upside before Aug. 13
• Negative Sentiment: Friday’s slide in chip stocks, including Micron and other memory names, is dragging Sandisk lower as investors resume selling the semiconductor group. Chip Stocks Slide Friday—Memory Favorites Micron, Sandisk Among the Big Decliners
• Negative Sentiment: A Korea-led selloff in memory chips is pressuring U.S. storage stocks, adding to concerns that the recent rally may be cooling off ahead of earnings. SK Hynix and Micron Sink 6%, SanDisk Drops 9% as Korea Chip Selloff Hits U.S. Memory Stocks

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the company. Cantor Fitzgerald increased their price target on Sandisk from $1,800.00 to $2,900.00 and gave the stock an “overweight” rating in a research report on Monday, June 8th. Argus initiated coverage on shares of Sandisk in a research note on Wednesday, July 15th. They issued a “hold” rating for the company. UBS Group set a $1,700.00 target price on shares of Sandisk in a report on Monday, May 4th. Citigroup raised their target price on shares of Sandisk from $2,025.00 to $2,500.00 and gave the company a “buy” rating in a research report on Thursday, June 25th. Finally, Bank of America boosted their price target on shares of Sandisk from $2,100.00 to $2,500.00 and gave the company a “buy” rating in a report on Wednesday, July 1st. Two investment analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and six have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $1,811.38.

Sandisk Price Performance

The business has a 50-day moving average of $1,753.46 and a two-hundred day moving average of $1,084.78. The company has a market cap of $212.74 billion, a P/E ratio of 49.93 and a beta of 4.74.

Sandisk (NASDAQ:SNDK) last announced its 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. Sandisk had a net margin of 34.19% and a return on equity of 44.06%. The business had revenue of $5.95 billion during the quarter. During the same quarter in the prior year, the firm posted ($0.30) earnings per share. The business’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. Equities analysts anticipate that Sandisk Corporation will post 64.52 EPS for the current fiscal year.

Insider Activity

In related news, insider Bernard Shek sold 600 shares of the stock in a transaction that occurred on 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 completion of the sale, the insider owned 31,515 shares of the company’s stock, valued at $65,803,320. This represents a 1.87% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Michael Pokorny sold 2,446 shares of the firm’s stock in a transaction that occurred on 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 sale, the chief accounting officer owned 22,375 shares of the company’s stock, valued at approximately $31,910,777.50. This trade represents a 9.85% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 6,225 shares of company stock worth $10,166,297. 0.21% of the stock is currently owned by insiders.

Institutional Trading of Sandisk

A number of institutional investors have recently made changes to their positions in SNDK. State Street Corp purchased a new position in Sandisk during the 3rd quarter worth $491,053,000. Arrowstreet Capital Limited Partnership purchased a new stake in Sandisk in the third quarter valued at about $297,293,000. Norges Bank purchased a new stake in Sandisk in the fourth quarter valued at about $518,889,000. Bank of America Corp DE acquired a new stake in Sandisk in the third quarter worth about $190,425,000. Finally, AQR Capital Management LLC acquired a new stake in Sandisk in the third quarter worth about $163,057,000.

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.