Sandisk Corporation (NASDAQ:SNDK) Stock Has Consensus Target Price of $2,056.23

Sandisk Corporation (NASDAQ:SNDK) has received a consensus recommendation of “Moderate Buy” from the twenty-eight brokerages that are currently covering the stock, MarketBeat.com reports. Five research analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and one has issued a strong buy rating on the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $2,056.23.

SNDK has been the subject of several analyst reports. Wells Fargo & Company cut their target price on shares of Sandisk from $1,550.00 to $1,300.00 and set an “equal weight” rating for the company in a research note on Friday, October 30th. Zacks Research raised shares of Sandisk from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 13th. Cantor Fitzgerald cut their price objective on shares of Sandisk from $2,900.00 to $2,200.00 and set an “overweight” rating on the stock in a report on Monday, October 26th. Weiss Ratings cut shares of Sandisk from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Wednesday, October 14th. Finally, Susquehanna lowered their target price on shares of Sandisk from $2,745.00 to $2,720.00 and set a “positive” rating for the company in a report on Friday, October 30th.

Key Sandisk News

Here are the key news stories impacting Sandisk this week:

• Positive Sentiment: SanDisk’s longer-term growth case remains supported by AI data-center demand and long-term agreements with hyperscalers, reportedly extending through 2030. Recent quarterly results also beat analyst expectations, though those positives have not prevented near-term selling. Article: Got $5,000? Buy These 2 Growth Stocks Powering the AI Memory Boom
• Neutral Sentiment: Insider Bernard Shek sold 600 shares under a pre-arranged Rule 10b5-1 plan, retaining 24,666 shares afterward. The planned, relatively small sale offers limited insight into the company’s outlook.
• Negative Sentiment: U.S. midterm election results prompted concern that a change in political control could bring tighter AI regulation in 2027, potentially weighing on expectations for AI infrastructure investment. Memory stocks including SanDisk sold off as investors reconsidered the sector’s spending outlook. Article: Why Sandisk Stock Sank Today
• Negative Sentiment: Investors are also weighing memory-price concerns and whether SanDisk’s strong earnings and outlook can meet elevated expectations. A Fox Advisors downgrade added to the negative sentiment. Shares have continued to retreat from their recent highs, reflecting the market’s sensitivity to shifting growth expectations. Article: SanDisk Slides as Election and Memory Price Worries Weigh Article: Sandisk Stock Gets Downgrade from Fox Advisors

Insider Buying and Selling at Sandisk

In related news, insider Bernard Shek sold 600 shares of the firm’s stock in a transaction on Monday, November 2nd. The shares were sold at an average price of $1,158.26, for a total transaction of $694,956.00. Following the completion of the sale, the insider directly owned 24,666 shares of the company’s stock, valued at approximately $28,569,641.16. This trade represents a 2.37% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO David Goeckeler sold 33,841 shares of the firm’s stock in a transaction dated Thursday, September 17th. The shares were sold at an average price of $1,574.21, for a total value of $53,272,840.61. Following the sale, the chief executive officer owned 382,865 shares of the company’s stock, valued at $602,709,911.65. This represents a 8.12% 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 77,899 shares of company stock valued at $121,156,782 in the last ninety days. Corporate insiders own 0.29% of the company’s stock.

Hedge Funds Weigh In On Sandisk

Large investors have recently added to or reduced their stakes in the company. BlackRock Inc. acquired a new stake in Sandisk in the 2nd quarter worth approximately $23,408,732,000. Situational Awareness LP grew its holdings in Sandisk by 42.4% during the second quarter. Situational Awareness LP now owns 2,495,344 shares of the data storage provider’s stock valued at $5,673,739,000 after purchasing an additional 743,325 shares during the last quarter. Wellington Management Group LLP grew its holdings in Sandisk by 71.2% during the second quarter. Wellington Management Group LLP now owns 1,066,886 shares of the data storage provider’s stock valued at $2,425,811,000 after purchasing an additional 443,714 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of Sandisk by 57.4% in the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 726,722 shares of the data storage provider’s stock valued at $1,652,370,000 after purchasing an additional 264,935 shares during the period. Finally, Bank of New York Mellon Corp bought a new position in shares of Sandisk in the second quarter valued at approximately $1,621,353,000.

Sandisk Stock Down 7.9%

Shares of Sandisk stock opened at $1,037.40 on Thursday. Sandisk has a 52-week low of $183.00 and a 52-week high of $2,354.39. The company’s 50-day simple moving average is $1,531.29 and its 200-day simple moving average is $1,261.10. The firm has a market cap of $147.61 billion, a price-to-earnings ratio of 8.32, a price-to-earnings-growth ratio of 0.09 and a beta of 5.66.

Sandisk shares are going to split on the morning of Friday, November 20th. The 8-1 split was announced on Thursday, October 29th. The newly minted shares will be payable to shareholders after the market closes on Thursday, November 19th.

Sandisk (NASDAQ:SNDK) last posted its quarterly earnings results on Thursday, October 29th. The data storage provider reported $49.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $46.19 by $3.32. The company had revenue of $11.03 billion during the quarter. Sandisk had a net margin of 67.04% and a return on equity of 125.70%. Sandisk’s revenue was up 23.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.22 earnings per share. Equities research analysts anticipate that Sandisk will post 216.29 EPS for the current year.

Sandisk declared that its board has authorized a share buyback program on Wednesday, August 5th that authorizes the company to buy back $14 billion in outstanding shares. This buyback authorization authorizes the data storage provider to reacquire up to 6.6% of its shares through open market purchases. Share buyback programs are typically an indication that the company’s board of directors believes its stock is undervalued.

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.