Sandisk (NASDAQ:SNDK) Rating Increased to Strong-Buy at Rosenblatt Securities

Rosenblatt Securities upgraded shares of Sandisk (NASDAQ:SNDK) to a strong-buy rating in a research report report published on Monday morning,Zacks reports.

Several other research firms have also recently commented on SNDK. Jefferies Financial Group reiterated a “buy” rating on shares of Sandisk in a research note on Thursday, August 6th. Morgan Stanley lifted their price target on shares of Sandisk from $1,100.00 to $1,750.00 and gave the stock an “overweight” rating in a research note on Wednesday, June 3rd. Mizuho cut their price target on shares of Sandisk from $1,900.00 to $1,875.00 and set an “outperform” rating on the stock in a report on Tuesday, August 25th. Zacks Research downgraded shares of Sandisk from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 7th. Finally, Wedbush reiterated an “outperform” rating and set a $2,000.00 price objective on shares of Sandisk in a research note on Friday, August 14th. Three equities research analysts have rated the stock with a Strong Buy rating, twenty have issued a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $2,015.61.

Sandisk Stock Performance

Shares of NASDAQ SNDK opened at $1,887.04 on Monday. Sandisk has a 1 year low of $93.54 and a 1 year high of $2,354.39. The stock’s 50-day simple moving average is $1,505.11 and its 200-day simple moving average is $1,379.62. The firm has a market cap of $276.30 billion, a price-to-earnings ratio of 25.89, a PEG ratio of 0.18 and a beta of 5.17.

Sandisk (NASDAQ:SNDK) last issued its quarterly earnings results on Wednesday, August 5th. The data storage provider reported $39.25 EPS for the quarter, beating analysts’ consensus estimates of $33.28 by $5.97. Sandisk had a return on equity of 87.84% and a net margin of 56.47%.The firm had revenue of $8.96 billion during the quarter. During the same period in the prior year, the company posted $0.29 EPS. The company’s revenue for the quarter was up 371.6% on a year-over-year basis. Sandisk has set its Q1 2027 guidance at 44.000-46.000 EPS. As a group, research analysts predict that Sandisk will post 208.94 EPS for the current year.

Sandisk declared that its Board of Directors has initiated a share buyback program on Wednesday, August 5th that allows the company to repurchase $14.00 billion in outstanding shares. This repurchase authorization allows the data storage provider to buy up to 6.6% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s leadership believes its stock is undervalued.

Insider Buying and Selling

In other news, EVP Alper Ilkbahar sold 4,712 shares of the company’s 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 completion of the transaction, the executive vice president directly owned 44,134 shares of the company’s stock, valued at approximately $67,991,957.72. This represents a 9.65% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 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 that occurred on Tuesday, September 8th. The shares were sold at an average price of $1,767.33, for a total value of $4,078,997.64. Following the transaction, the insider directly owned 25,305 shares of the company’s stock, valued at $44,722,285.65. This trade represents a 8.36% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders have sold 77,899 shares of company stock valued at $121,370,958. 0.21% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Sandisk

Several large investors have recently added to or reduced their stakes in SNDK. Dogwood Wealth Management LLC boosted its stake in Sandisk by 14.3% during the second quarter. Dogwood Wealth Management LLC now owns 48 shares of the data storage provider’s stock valued at $109,000 after buying an additional 6 shares in the last quarter. Nilsine Partners LLC grew its holdings in Sandisk by 3.2% during the second quarter. Nilsine Partners LLC now owns 226 shares of the data storage provider’s stock worth $514,000 after acquiring an additional 7 shares during the period. Insight Wealth Partners LLC raised its position in Sandisk by 0.4% in the second quarter. Insight Wealth Partners LLC now owns 1,607 shares of the data storage provider’s stock worth $3,654,000 after acquiring an additional 7 shares in the last quarter. Cornerstone Financial Management LLC raised its position in Sandisk by 60.0% in the second quarter. Cornerstone Financial Management LLC now owns 24 shares of the data storage provider’s stock worth $55,000 after acquiring an additional 9 shares in the last quarter. Finally, Castle Rock Wealth Management LLC lifted its holdings in Sandisk by 2.4% in the 2nd quarter. Castle Rock Wealth Management LLC now owns 426 shares of the data storage provider’s stock valued at $969,000 after acquiring an additional 10 shares during the last quarter.

More Sandisk News

Here are the key news stories impacting Sandisk this week:

• Positive Sentiment: Rosenblatt Securities initiated coverage with a Buy rating and a $2,400 price target, implying roughly 27% upside from the referenced price. Analyst Kevin Cassidy argues that AI workloads are making NAND flash a more critical part of computing infrastructure rather than merely a commodity product. SanDisk Just Scored a New Buy Rating
• Positive Sentiment: Memory stocks broadly strengthened as investors rotated back into AI and semiconductor names. Expectations for sustained AI infrastructure spending, tight memory supply and favorable NAND pricing are supporting Sandisk and peers including Micron and SK Hynix. Sandisk Climbs Amid Storage-Sector Strength
• Positive Sentiment: Sandisk’s recent operating performance remains a major part of the bull case: quarterly earnings substantially exceeded estimates, revenue surged year over year, and management authorized a $14 billion share-repurchase program. The company’s addition to the S&P 100 also improves its visibility, although the direct index-buying effect is likely limited. Sandisk Buyback Coverage
• Neutral Sentiment: CEO David Goeckeler sold approximately $53.3 million of stock under a pre-arranged Rule 10b5-1 plan. The transaction reduces a substantial personal holding but may not indicate a change in management’s outlook. SEC Insider Transaction Filing
• Negative Sentiment: Risks include NAND’s cyclical nature, slowing pricing growth, built-in contract depreciation and weaker consumer demand. China’s CXMT is also expanding memory production, potentially pressuring pricing and market share. Micron and SanDisk Face a New Test

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.