Sandisk (NASDAQ:SNDK) Trading Up 7.6% – Should You Buy?

Sandisk Corporation (NASDAQ:SNDK)’s share price shot up 7.6% during mid-day trading on Thursday . The company traded as high as $1,952.59 and last traded at $1,858.27. 13,089,341 shares traded hands during mid-day trading, a decline of 21% from the average session volume of 16,493,072 shares. The stock had previously closed at $1,727.18.

Sandisk News Summary

Here are the key news stories impacting Sandisk this week:

• Positive Sentiment: Wedbush raised its price target on Sandisk and said it expects a strong earnings beat, citing favorable NAND pricing trends and improving fundamentals ahead of the company’s upcoming quarterly report. Article Title
• Positive Sentiment: Sandisk and other memory stocks rebounded after a Samsung-led sector selloff, as investors rotated back into the group on hopes that demand remains strong. Article Title
• Positive Sentiment: Reports that Meta signed a multi-year NAND flash supply deal with Sandisk added to optimism around AI infrastructure demand and long-term storage sales. Article Title
• Positive Sentiment: Sandisk announced it will report fiscal fourth-quarter and full-year 2026 results on August 5, followed by an Investor Day on August 13, which keeps a near-term catalyst in focus. Article Title
• Neutral Sentiment: Sandisk is being highlighted in broader market coverage and stock-mover lists, reflecting elevated trading interest rather than a single company-specific development. Article Title
• Negative Sentiment: Some commentary warned that investors may be pricing in too much AI-memory optimism, with concerns that storage demand could be peaking after the recent rally. Article Title
• Negative Sentiment: A separate article argued that investors didn’t need Sandisk to benefit from the AI wave, suggesting some capital could rotate into broader semiconductor ETFs instead of the stock. Article Title

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. Melius Research set a $2,350.00 price objective on shares of Sandisk in a research report on Monday, May 18th. Wells Fargo & Company raised their target price on shares of Sandisk from $975.00 to $1,250.00 and gave the stock an “equal weight” rating in a report on Friday, May 1st. Zacks Research downgraded Sandisk from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 1st. Wedbush upped their target price on Sandisk from $740.00 to $1,200.00 and gave the company an “outperform” rating in a report on Wednesday, April 29th. Finally, Susquehanna increased their price target on Sandisk from $2,000.00 to $3,250.00 and gave the stock a “positive” rating in a research report on Friday, May 29th. Two investment analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $1,684.24.

Sandisk Price Performance

The firm’s fifty day moving average price is $1,726.30 and its 200-day moving average price is $996.55. The company has a market cap of $283.73 billion, a price-to-earnings ratio of 66.59 and a beta of 4.74.

Sandisk (NASDAQ:SNDK) last released its quarterly earnings data on Thursday, April 30th. The data storage provider reported $23.41 earnings per share for the quarter, topping analysts’ consensus estimates of $14.17 by $9.24. The business had revenue of $5.95 billion for the quarter. Sandisk had a net margin of 34.19% and a return on equity of 44.06%. The firm’s revenue was up 251.0% on a year-over-year basis. During the same period last year, the business earned ($0.30) EPS. Sandisk has set its Q4 2026 guidance at 30.000-33.000 EPS. As a group, equities analysts forecast that Sandisk Corporation will post 64.01 earnings per share for the current fiscal year.

Insider Activity

In other Sandisk news, 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 value of $3,488,436.28. Following the sale, the chief accounting officer owned 22,375 shares in the company, valued at approximately $31,910,777.50. This trade represents a 9.85% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Bernard Shek sold 600 shares of Sandisk 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 value of $1,252,800.00. Following the sale, the insider directly owned 31,515 shares in the company, valued at approximately $65,803,320. This trade represents a 1.87% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 6,225 shares of company stock worth $10,166,297 over the last ninety days. 0.21% of the stock is owned by company insiders.

Institutional Trading of Sandisk

Hedge funds have recently added to or reduced their stakes in the business. KERR FINANCIAL PLANNING Corp bought a new position in shares of Sandisk in the second quarter worth $34,000. Ramsey Quantitative Systems bought a new stake in shares of Sandisk during the second quarter valued at about $50,000. Elevation Wealth Partners LLC raised its stake in shares of Sandisk by 114.3% during the second quarter. Elevation Wealth Partners LLC now owns 30 shares of the data storage provider’s stock valued at $68,000 after purchasing an additional 16 shares in the last quarter. Valley Wealth Managers Inc. acquired a new stake in Sandisk in the first quarter worth about $25,000. Finally, IMG Wealth Management Inc. acquired a new stake in Sandisk in the first quarter worth about $29,000.

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.