Sandisk (NASDAQ:SNDK) Shares Down 1.9% – Should You Sell?

Sandisk Corporation (NASDAQ:SNDK)’s stock price traded down 1.9% on Tuesday . The stock traded as low as $1,513.00 and last traded at $1,536.87. 11,567,386 shares changed hands during mid-day trading, a decline of 29% from the average session volume of 16,242,685 shares. The stock had previously closed at $1,566.70.

Sandisk News Roundup

Here are the key news stories impacting Sandisk this week:

• Positive Sentiment: Mizuho maintained a bullish view on memory stocks, highlighting the potential for Sandisk to generate substantial free cash flow and return capital through share repurchases. The firm also described the stock as an attractive valuation opportunity. What Is Going on With SanDisk Stock on Tuesday?
• Positive Sentiment: Zacks added SNDK to its Rank #1, or “Strong Buy,” list, providing a favorable technical and fundamental signal for investors. New Strong Buy Stocks for September 1st
• Positive Sentiment: Sandisk’s planned $31 billion Japan flash-memory expansion through 2032 underscores management’s confidence in long-term NAND demand, particularly from artificial intelligence infrastructure. Analysts argue investors may be underestimating the strength and duration of the current memory cycle. Sandisk Backs $31 Billion Japan Flash Memory Expansion Through 2032
• Neutral Sentiment: AI-focused semiconductor ETFs have attracted significant inflows in 2026, supporting demand for memory stocks, although the concentration of those gains leaves the group vulnerable to additional volatility. These 5 ETFs Have Raked in Cash This Year
• Negative Sentiment: Reports that China’s CXMT has made a major advance in AI-oriented memory chips revived concerns that domestic Chinese competition could pressure Sandisk’s market share, pricing, and future margins. MU and SNDK’s Nascent Rebound Faces a New Test
• Negative Sentiment: Uncertainty over potential chip tariffs added to selling pressure, while rising bond yields encouraged investors to reduce exposure to high-beta technology shares. The stock was also retreating after a strong prior-session rally. Stocks That Explain Today’s Market
• Negative Sentiment: Investors remain concerned that Sandisk’s large expansion could increase exposure to the traditional boom-and-bust memory cycle if AI demand slows or NAND supply becomes excessive. Can Sandisk Avoid the Memory Trap That’s Burned Investors Before?

Analyst Ratings Changes

Several analysts have weighed in on SNDK shares. Evercore reaffirmed an “outperform” rating on shares of Sandisk in a research note on Thursday, August 13th. Argus raised shares of Sandisk from a “hold” rating to a “buy” rating in a research note on Monday, August 10th. Wells Fargo & Company upped their target price on Sandisk from $1,400.00 to $1,550.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 13th. Cantor Fitzgerald reiterated an “overweight” rating and set a $2,900.00 price target on shares of Sandisk in a research report on Monday, August 10th. Finally, Citigroup cut their price objective on Sandisk from $2,500.00 to $2,100.00 and set a “buy” rating for the company in a report on Thursday, August 6th. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $1,998.14.

Sandisk Stock Performance

The company’s 50 day simple moving average is $1,581.73 and its two-hundred day simple moving average is $1,262.28. The stock has a market cap of $225.03 billion, a price-to-earnings ratio of 21.08, a price-to-earnings-growth ratio of 0.15 and a beta of 5.21.

Sandisk (NASDAQ:SNDK) last posted its quarterly earnings results on Wednesday, August 5th. The data storage provider reported $39.25 earnings per share for the quarter, topping analysts’ consensus estimates of $33.28 by $5.97. The company had revenue of $8.96 billion during the quarter. Sandisk had a return on equity of 87.84% and a net margin of 56.47%.The firm’s revenue for the quarter was up 371.6% on a year-over-year basis. During the same period last year, the business earned $0.29 earnings per share. Sandisk has set its Q1 2027 guidance at 44.000-46.000 EPS. On average, equities research analysts predict that Sandisk Corporation will post 208.92 earnings per share for the current fiscal year.

Sandisk announced that its board has initiated a share repurchase plan on Wednesday, August 5th that permits the company to buyback $14.00 billion in outstanding shares. This buyback authorization permits the data storage provider to purchase up to 6.6% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s management believes its stock is undervalued.

Insider Activity

In other Sandisk news, insider Bernard Shek sold 600 shares of Sandisk stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $1,162.16, for a total value of $697,296.00. Following the completion of the transaction, the insider owned 30,915 shares in the company, valued at approximately $35,928,176.40. The trade was a 1.90% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders have sold 1,800 shares of company stock worth $2,991,696. Company insiders own 0.21% of the company’s stock.

Institutional Investors Weigh In On Sandisk

Several institutional investors have recently modified their holdings of SNDK. California State Teachers Retirement System increased its stake in shares of Sandisk by 235,032.6% in the 2nd quarter. California State Teachers Retirement System now owns 380,392,755 shares of the data storage provider’s stock valued at $864,910,419,000 after acquiring an additional 380,230,977 shares during the last quarter. BlackRock Inc. bought a new position in shares of Sandisk during the 2nd quarter worth approximately $23,408,732,000. State Street Corp increased its stake in Sandisk by 20.7% in the 4th quarter. State Street Corp now owns 5,281,522 shares of the data storage provider’s stock valued at $1,253,728,000 after buying an additional 904,933 shares during the last quarter. Geode Capital Management LLC raised its holdings in Sandisk by 44.9% during the fourth quarter. Geode Capital Management LLC now owns 3,655,860 shares of the data storage provider’s stock worth $866,310,000 after acquiring an additional 1,133,276 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership raised its position in Sandisk by 31.3% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 3,478,002 shares of the data storage provider’s stock worth $825,608,000 after acquiring an additional 828,332 shares in the last quarter.

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.