Sandisk (NASDAQ:SNDK) Shares Down 1.4% – What’s Next?

Sandisk Corporation (NASDAQ:SNDK)’s share price dropped 1.4% during mid-day trading on Tuesday . The company traded as low as $1,509.14 and last traded at $1,530.90. Approximately 6,825,284 shares were traded during trading, a decline of 57% from the average session volume of 15,921,400 shares. The stock had previously closed at $1,551.99.

Sandisk News Roundup

Here are the key news stories impacting Sandisk this week:

• Positive Sentiment: AI storage demand remains a major growth catalyst. SanDisk is benefiting from rising NAND content in AI infrastructure, edge devices and enterprise SSDs. Its UltraQLC, BiCS9, BiCS10 and High Bandwidth Flash products could support higher-value sales and lower costs per bit. SNDK Capitalizes on AI Storage Growth
• Positive Sentiment: Analysts continue to see substantial upside. SanDisk is included among growth stocks with projected upside of at least 30%, reflecting confidence in demand trends and longer-term catalysts. 3 Growth Stocks With 30%+ Upside
• Positive Sentiment: Share repurchases may support per-share results. SanDisk has begun retiring shares, which could increase earnings per share and signal management believes the stock is attractively valued, although buybacks do not directly increase operating profit. SanDisk Has Started Retiring Its Own Shares
• Neutral Sentiment: Contract coverage could reduce NAND-cycle risk. Multi-year New Business Model agreements reportedly cover about half of projected fiscal 2027 bit shipments and roughly two-thirds of fiscal 2028 shipments, potentially providing revenue visibility if NAND pricing weakens. Sandisk And The NAND Stabilization Test
• Neutral Sentiment: A stock split is only a potential trading catalyst. A split could make SNDK more accessible to individual investors, but it would not change revenue, profits or the underlying value of shareholders’ holdings. Is a Sandisk Stock Split Coming?
• Negative Sentiment: DeepSeek-related concerns triggered the recent decline. Reports that a more efficient AI model may require less memory caused investors to question the durability of AI infrastructure demand, pressuring SanDisk and other memory stocks. SanDisk Shares Fall as AI Demand Concerns Weigh
• Negative Sentiment: Valuation, profit-taking and competition remain risks. After an extraordinary rally, investors are taking profits, while Micron and Seagate remain formidable competitors. Stabilizing NAND supply could also weaken pricing and earnings power. AI Storage Competition

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on SNDK shares. The Goldman Sachs Group reiterated a “buy” rating and set a $2,200.00 target price on shares of Sandisk in a research report on Thursday, August 13th. Wells Fargo & Company lifted their price target on shares of Sandisk from $1,400.00 to $1,550.00 and gave the company an “equal weight” rating in a research note on Thursday, August 13th. Melius Research set a $2,350.00 price objective on shares of Sandisk in a report on Monday, May 18th. New Street Research set a $3,000.00 price objective on shares of Sandisk in a report on Thursday, August 6th. Finally, Zacks Research cut shares of Sandisk from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 7th. Two investment analysts have rated the stock with a Strong Buy rating, twenty have issued a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $1,998.14.

Sandisk Stock Down 1.4%

The stock has a market capitalization of $224.15 billion, a P/E ratio of 21.00, a price-to-earnings-growth ratio of 0.16 and a beta of 5.17. The business’s 50 day simple moving average is $1,513.91 and its two-hundred day simple moving average is $1,334.50.

Sandisk (NASDAQ:SNDK) last posted its earnings results on Wednesday, August 5th. The data storage provider reported $39.25 earnings per share for the quarter, topping 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 in the prior year, the company earned $0.29 EPS. The company’s revenue was up 371.6% on a year-over-year basis. Sandisk has set its Q1 2027 guidance at 44.000-46.000 EPS. Analysts predict that Sandisk Corporation will post 208.92 earnings per share for the current year.

Sandisk announced that its Board of Directors has approved a share repurchase program on Wednesday, August 5th that authorizes the company to buyback $14.00 billion in shares. This buyback authorization authorizes the data storage provider to purchase up to 6.6% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its stock is undervalued.

Insider Activity at Sandisk

In related news, EVP Alper Ilkbahar sold 4,712 shares of Sandisk stock in a transaction that occurred on Thursday, September 3rd. The stock was sold at an average price of $1,540.58, for a total transaction of $7,259,212.96. Following the transaction, the executive vice president owned 44,134 shares of the company’s stock, valued at $67,991,957.72. The trade was a 9.65% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Bernard Shek sold 2,308 shares of the company’s stock in a transaction on Tuesday, September 8th. The stock was sold at an average price of $1,767.33, for a total value of $4,078,997.64. Following the sale, the insider owned 25,305 shares of the company’s stock, valued at $44,722,285.65. This trade represents a 8.36% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 9,220 shares of company stock valued at $14,829,223. Company insiders own 0.21% of the company’s stock.

Hedge Funds Weigh In On Sandisk

Several large investors have recently bought and sold shares of the stock. BlackRock Inc. bought a new position in shares of Sandisk during the second quarter valued at about $23,408,732,000. Norges Bank purchased a new position in Sandisk during the fourth quarter worth about $518,889,000. Geode Capital Management LLC grew its position in 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 purchasing an additional 1,133,276 shares in the last quarter. Evergreen Quality Fund GP Ltd. bought a new stake in Sandisk in the 4th quarter worth about $255,848,000. Finally, Situational Awareness LP grew its position in Sandisk by 816.7% in the 4th quarter. Situational Awareness LP now owns 1,054,200 shares of the data storage provider’s stock worth $250,246,000 after purchasing an additional 939,200 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.