Sandisk (NASDAQ:SNDK) Stock Price Up 6.5% – Still a Buy?

Sandisk Corporation (NASDAQ:SNDK) rose 6.5% during mid-day trading on Monday . The stock traded as high as $2,119.90 and last traded at $2,107.86. Approximately 9,051,220 shares changed hands during mid-day trading, a decline of 47% from the average daily volume of 17,102,873 shares. The stock had previously closed at $1,980.10.

Analysts Set New Price Targets

SNDK has been the topic of several research reports. Barclays raised Sandisk from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $1,200.00 to $2,300.00 in a research report on Tuesday, May 26th. UBS Group set a $1,700.00 price target on shares of Sandisk in a report on Monday, May 4th. Mizuho upped their price target on shares of Sandisk from $1,825.00 to $2,200.00 and gave the company an “outperform” rating in a report on Monday, June 8th. Arete Research raised shares of Sandisk from a “hold” rating to a “strong-buy” rating in a report on Monday, April 13th. Finally, The Goldman Sachs Group reaffirmed a “buy” rating and issued a $1,200.00 price target on shares of Sandisk in a report on Friday, May 1st. Three analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $1,580.67.

Sandisk Price Performance

The company has a market capitalization of $312.15 billion, a PE ratio of 73.27 and a beta of 4.88. The firm’s fifty day simple moving average is $1,288.10 and its 200 day simple moving average is $752.93.

Sandisk (NASDAQ:SNDK) last posted its quarterly earnings results on Thursday, April 30th. The data storage provider reported $23.41 EPS for the quarter, beating the consensus estimate of $14.17 by $9.24. Sandisk had a net margin of 34.19% and a return on equity of 44.06%. The company had revenue of $5.95 billion for the quarter. During the same period in the previous year, the company posted ($0.30) earnings per share. Sandisk’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. On average, equities research analysts anticipate that Sandisk Corporation will post 64.01 EPS for the current fiscal year.

Insider Activity

In other news, CAO Michael Pokorny sold 2,446 shares of the stock in a transaction dated 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 sale, the chief accounting officer directly owned 22,375 shares of the company’s stock, valued at $31,910,777.50. This represents a 9.85% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Necip Sayiner sold 579 shares of the stock in a transaction dated Friday, May 8th. The stock was sold at an average price of $1,503.11, for a total transaction of $870,300.69. Following the sale, the director directly owned 2,900 shares in the company, valued at approximately $4,359,019. The trade was a 16.64% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 5,625 shares of company stock valued at $8,913,497. Insiders own 0.21% of the company’s stock.

Institutional Investors Weigh In On Sandisk

Hedge funds have recently modified their holdings of the company. Valley Wealth Managers Inc. purchased a new stake in shares of Sandisk during the 1st quarter worth about $25,000. IMG Wealth Management Inc. purchased a new stake in shares of Sandisk during the 1st quarter worth about $29,000. SOA Wealth Advisors LLC. boosted its stake in shares of Sandisk by 108.0% during the 1st quarter. SOA Wealth Advisors LLC. now owns 52 shares of the data storage provider’s stock worth $33,000 after acquiring an additional 27 shares in the last quarter. Cedar Mountain Advisors LLC boosted its stake in shares of Sandisk by 2,750.0% during the 1st quarter. Cedar Mountain Advisors LLC now owns 57 shares of the data storage provider’s stock worth $36,000 after acquiring an additional 55 shares in the last quarter. Finally, Roble Belko & Company Inc purchased a new stake in shares of Sandisk during the 1st quarter worth about $39,000.

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.