Sandisk (NASDAQ:SNDK) Stock Price Up 6% – Time to Buy?

Sandisk Corporation (NASDAQ:SNDK) rose 6% during mid-day trading on Monday . The stock traded as high as $1,316.45 and last traded at $1,288.03. Approximately 14,487,748 shares were traded during mid-day trading, a decline of 12% from the average daily volume of 16,542,512 shares. The stock had previously closed at $1,214.83.

Sandisk News Roundup

Here are the key news stories impacting Sandisk this week:

• Positive Sentiment: Analysts point to strong AI-driven demand for enterprise SSDs, firmer NAND pricing and increased adoption of TLC and QLC products as potential catalysts for the upcoming results. Buy Sandisk Stock Before Q4 Earnings? Here’s What to Know
• Positive Sentiment: Sandisk’s previous quarter significantly exceeded earnings expectations, with revenue rising 251% year over year, supporting optimism that continued memory strength could produce another strong report.
• Positive Sentiment: Some analysts view the recent correction as an attractive entry point, citing robust projected earnings growth and a reasonable forward valuation for longer-term investors. Sandisk: Looking Like A Buy Ahead Of Earnings
• Positive Sentiment: Morgan Stanley’s upgrade of South Korean equities to Overweight could ease forced selling across AI and memory stocks, potentially benefiting Sandisk, Micron and SK Hynix. Micron, SanDisk, SK Hynix stocks: is Morgan Stanley’s Korea call a buy signal?
• Positive Sentiment: SNDK’s strong one-year performance places it on a momentum-anomaly screen despite its recent pullback, attracting traders seeking high-beta rebound candidates. 3 Momentum Anomaly Stocks to Buy
• Neutral Sentiment: Options markets imply an unusually large potential earnings move, highlighting both significant upside potential and elevated downside risk. Earnings Volatility Watch
• Neutral Sentiment: The broader market is entering a busy earnings and employment-data week, which may add to short-term volatility and influence technology-sector sentiment. Busy Q2 Earnings & Jobs Week
• Negative Sentiment: Sandisk has suffered a sharp recent correction, while memory-focused ETFs have also faced heavy selling as investors reassess AI and semiconductor valuations. Top DRAM ETF Stocks to Watch
• Negative Sentiment: Key risks include expanding Chinese NAND and DRAM capacity, possible pricing pressure from YMTC and uncertainty in Sandisk’s multiyear supply contracts. SanDisk Stock is Down 50% From the YTD High

Analyst Upgrades and Downgrades

SNDK has been the subject of a number of recent research reports. Melius Research set a $2,350.00 price objective on shares of Sandisk in a research note on Monday, May 18th. Jefferies Financial Group reaffirmed a “buy” rating and issued a $1,400.00 target price on shares of Sandisk in a research note on Friday, May 1st. Wells Fargo & Company increased their target price on Sandisk from $1,250.00 to $1,620.00 and gave the company an “equal weight” rating in a report on Wednesday, July 22nd. UBS Group set a $1,700.00 price target on Sandisk in a report on Monday, May 4th. Finally, Sanford C. Bernstein increased their price objective on Sandisk from $1,700.00 to $3,000.00 and gave the company an “outperform” rating in a research note on Monday, June 29th. Three research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $1,811.38.

Sandisk Stock Performance

The company has a fifty day simple moving average of $1,729.14 and a two-hundred day simple moving average of $1,121.70. The company has a market capitalization of $190.74 billion, a price-to-earnings ratio of 44.77 and a beta of 4.74.

Sandisk (NASDAQ:SNDK) last posted its quarterly earnings data on Thursday, April 30th. The data storage provider reported $23.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $14.17 by $9.24. The business had revenue of $5.95 billion for the quarter. Sandisk had a return on equity of 44.06% and a net margin of 34.19%.Sandisk’s revenue for the quarter was up 251.0% compared to the same quarter last year. During the same quarter last year, the business earned ($0.30) EPS. As a group, analysts expect that Sandisk Corporation will post 64.52 EPS for the current year.

Insiders Place Their Bets

In other news, CAO Michael Pokorny sold 2,446 shares of the company’s 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 completion of the transaction, the chief accounting officer 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, insider Bernard Shek sold 600 shares of the stock in a transaction dated Wednesday, July 1st. The stock was sold at an average price of $2,088.00, for a total transaction of $1,252,800.00. Following the transaction, the insider owned 31,515 shares in the company, valued at approximately $65,803,320. The trade was a 1.87% 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. Over the last three months, insiders have sold 6,225 shares of company stock valued at $10,166,297. 0.21% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Sandisk

Institutional investors have recently bought and sold shares of the stock. State Street Corp boosted its holdings in shares of 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 purchasing an additional 904,933 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Sandisk by 44.9% in 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 buying an additional 1,133,276 shares during the period. Arrowstreet Capital Limited Partnership boosted its holdings in Sandisk by 31.3% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 3,478,002 shares of the data storage provider’s stock valued at $825,608,000 after acquiring an additional 828,332 shares during the last quarter. Morgan Stanley boosted its holdings in Sandisk by 7.2% in the fourth quarter. Morgan Stanley now owns 2,970,361 shares of the data storage provider’s stock valued at $705,105,000 after acquiring an additional 199,545 shares during the last quarter. Finally, Norges Bank purchased a new stake in Sandisk during the fourth quarter valued at about $518,889,000.

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.