Sandisk (NASDAQ:SNDK) Stock Price Down 4.1% – Here’s What Happened

Sandisk Corporation (NASDAQ:SNDK)’s stock price was down 4.1% on Thursday . The company traded as low as $1,674.00 and last traded at $1,692.59. Approximately 8,628,009 shares changed hands during trading, a decline of 46% from the average session volume of 16,047,772 shares. The stock had previously closed at $1,764.17.

Key Headlines Impacting Sandisk

Here are the key news stories impacting Sandisk this week:

• Positive Sentiment: AI-driven NAND demand remains a major bullish catalyst. Recent coverage says data-center demand, tighter supply and potentially higher memory prices are supporting Sandisk’s pricing power. A Citi analyst reaffirmed a Buy rating and a $2,100 price target. Citi maintains Buy rating and price target
• Positive Sentiment: Underlying results and long-term contracts support the investment case. Sandisk’s latest earnings beat expectations, with revenue up sharply year over year. Analysts have also highlighted long-term agreements, high-margin newer business models and the company’s $14 billion share-repurchase authorization. Sandisk long-term contract analysis
• Neutral Sentiment: Profit-taking is amplifying volatility. SNDK has risen more than 600% in 2026, leaving the stock vulnerable to momentum reversals despite continued optimism about AI-related storage demand. SanDisk year-to-date rally analysis
• Negative Sentiment: Valuation and insider selling are additional concerns. Zacks downgraded Sandisk from Strong Buy to Hold, and insiders disclosed roughly $12 million of stock sales in September, although some transactions were made under pre-arranged trading plans. Sandisk insider trading report

Wall Street Analyst Weigh In

Several research analysts have weighed in on SNDK shares. Morgan Stanley upped their target price on shares of Sandisk from $1,100.00 to $1,750.00 and gave the stock an “overweight” rating in a research report on Wednesday, June 3rd. Zacks Research lowered Sandisk from a “strong-buy” rating to a “hold” rating in a research note on Monday. Barclays upgraded Sandisk from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $1,200.00 to $2,300.00 in a report on Tuesday, May 26th. Evercore reaffirmed an “outperform” rating on shares of Sandisk in a report on Thursday, August 13th. Finally, Wells Fargo & Company upped their target price on Sandisk from $1,400.00 to $1,550.00 and gave the company an “equal weight” rating in a report on Thursday, August 13th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Sandisk has a consensus rating of “Moderate Buy” and an average price target of $1,998.14.

Sandisk Stock Down 4.1%

The business’s fifty day moving average is $1,521.04 and its 200-day moving average is $1,313.91. The stock has a market capitalization of $247.83 billion, a PE ratio of 23.22, a P/E/G ratio of 0.17 and a beta of 5.17.

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

Sandisk declared that its Board of Directors has authorized a share buyback plan on Wednesday, August 5th that permits the company to repurchase $14.00 billion in outstanding shares. This repurchase authorization permits the data storage provider to reacquire up to 6.6% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s management believes its shares are undervalued.

Insider Activity

In other news, EVP Alper Ilkbahar sold 4,712 shares of the firm’s stock in a transaction dated Thursday, September 3rd. The stock was sold at an average price of $1,540.58, for a total value of $7,259,212.96. Following the transaction, the executive vice president directly owned 44,134 shares in the company, valued at $67,991,957.72. This trade represents a 9.65% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Bernard Shek sold 2,308 shares of Sandisk stock in a transaction dated Tuesday, September 8th. The shares were sold at an average price of $1,767.33, for a total value of $4,078,997.64. Following the completion of the transaction, the insider directly owned 25,305 shares in the company, valued at $44,722,285.65. This represents a 8.36% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 9,220 shares of company stock valued at $14,829,223 over the last 90 days. 0.21% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

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