Sandisk (NASDAQ:SNDK) Shares Up 13.7% – Should You Buy?

Shares of Sandisk Corporation (NASDAQ:SNDK) traded up 13.7% during trading on Wednesday. The company traded as high as $1,011.05 and last traded at $977.69. Approximately 15,790,707 shares were traded during mid-day trading, an increase of 7% from the average session volume of 14,814,410 shares. The stock had previously closed at $859.99.

Sandisk News Roundup

These are some of the SNDK news items that stood out recently:

• Positive Sentiment: AI data-center operator CoreWeave beat sales and earnings forecasts and raised its 2026 capital-spending outlook to $37–39 billion. That supports expectations for continued infrastructure investment and memory-storage demand, though it is an industry signal rather than a disclosed SanDisk order. Article: Why SanDisk Stock Popped Today
• Positive Sentiment: Recent results provide a fundamental support: SanDisk reported fiscal first-quarter revenue of about $11.03 billion, up 23% year over year, and earnings per share above consensus, according to the supplied earnings data.
• Neutral Sentiment: The planned 8-for-1 stock split may attract investor attention, but it does not change the company’s underlying value or business prospects. Article: What History Says About SanDisk’s Stock Split

Analyst Ratings Changes

A number of research firms have weighed in on SNDK. JPMorgan Chase & Co. started coverage on shares of Sandisk in a research note on Friday, August 14th. They issued an “overweight” rating and a $2,250.00 target price on the stock. China Renaissance upped their price target on Sandisk from $2,000.00 to $2,250.00 and gave the company a “buy” rating in a research report on Wednesday, August 19th. Jefferies Financial Group reaffirmed a “buy” rating and issued a $1,400.00 price target (up from $1,000.00) on shares of Sandisk in a report on Thursday, August 6th. BNP Paribas Exane cut their price target on Sandisk from $1,900.00 to $1,400.00 in a report on Thursday, August 6th. Finally, Raymond James Financial lifted their price objective on Sandisk from $1,470.00 to $2,000.00 and gave the stock an “outperform” rating in a research report on Thursday, August 6th. One research analyst has rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $2,056.23.

Sandisk Stock Up 13.7%

The company’s 50-day moving average is $1,478.33 and its 200-day moving average is $1,268.68. The stock has a market capitalization of $139.12 billion, a price-to-earnings ratio of 7.84, a PEG ratio of 0.07 and a beta of 5.66.

Shares of Sandisk are going to split on the morning of Friday, November 20th. The 8-1 split was announced on Thursday, October 29th. The newly created shares will be issued to shareholders after the market closes on Thursday, November 19th.

Sandisk (NASDAQ:SNDK) last posted its earnings results on Thursday, October 29th. The data storage provider reported $49.51 earnings per share for the quarter, beating the consensus estimate of $46.19 by $3.32. Sandisk had a net margin of 67.04% and a return on equity of 125.70%. The company had revenue of $11.03 billion for the quarter. During the same quarter in the previous year, the firm earned $1.22 earnings per share. The business’s revenue for the quarter was up 23.0% compared to the same quarter last year. Sell-side analysts anticipate that Sandisk Corporation will post 226.01 EPS for the current year.

Sandisk announced that its Board of Directors has initiated a share buyback program on Wednesday, August 5th that permits the company to repurchase $14 billion in outstanding shares. This buyback authorization permits the data storage provider to repurchase up to 6.6% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board believes its stock is undervalued.

Insider Activity

In other news, CEO David Goeckeler sold 33,841 shares of Sandisk stock in a transaction that occurred on Thursday, September 17th. The shares were sold at an average price of $1,574.21, for a total transaction of $53,272,840.61. Following the sale, the chief executive officer owned 382,865 shares of the company’s stock, valued at approximately $602,709,911.65. The trade was a 8.12% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Luis Visoso sold 1,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 15th. The shares were sold at an average price of $1,568.83, for a total value of $1,568,830.00. Following the completion of the transaction, the chief financial officer owned 130,976 shares in the company, valued at $205,479,078.08. This represents a 0.76% decrease in their ownership of the stock. 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 sold a total of 77,899 shares of company stock worth $121,156,782 in the last 90 days. 0.29% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Sandisk

A number of institutional investors and hedge funds have recently added to or reduced their stakes in SNDK. Dogwood Wealth Management LLC increased its position in shares of Sandisk by 14.3% during the 2nd quarter. Dogwood Wealth Management LLC now owns 48 shares of the data storage provider’s stock worth $109,000 after purchasing an additional 6 shares during the last quarter. Nilsine Partners LLC lifted its position in Sandisk by 3.2% in the second quarter. Nilsine Partners LLC now owns 226 shares of the data storage provider’s stock valued at $514,000 after buying an additional 7 shares during the last quarter. Insight Wealth Partners LLC boosted its stake in Sandisk by 0.4% during the second quarter. Insight Wealth Partners LLC now owns 1,607 shares of the data storage provider’s stock worth $3,654,000 after buying an additional 7 shares during the period. SYM FINANCIAL Corp boosted its stake in Sandisk by 3.1% during the third quarter. SYM FINANCIAL Corp now owns 267 shares of the data storage provider’s stock worth $464,000 after buying an additional 8 shares during the period. Finally, Verdence Capital Advisors LLC increased its position in shares of Sandisk by 2.4% during the third quarter. Verdence Capital Advisors LLC now owns 340 shares of the data storage provider’s stock valued at $592,000 after acquiring an additional 8 shares during the last quarter.

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.