Key Points
- Director Necip Sayiner sold 579 shares of Sandisk on May 8 for about $870,301, reducing his ownership by 16.64% to 2,900 shares.
- Sandisk reported blowout quarterly results, posting $23.41 EPS versus $14.17 expected and revenue of $5.95 billion, up 251% year over year.
- Wall Street remains bullish on the stock, with an average “Moderate Buy” rating and a consensus price target of $1,065.81, while analysts cite strong AI-related memory demand as a positive catalyst.
Sandisk Corporation (NASDAQ:SNDK - Get Free Report) Director Necip Sayiner sold 579 shares of the firm's stock in a transaction on Friday, May 8th. The stock was sold at an average price of $1,503.11, for a total value of $870,300.69. Following the completion of the sale, the director directly owned 2,900 shares of the company's stock, valued at $4,359,019. This trade represents a 16.64% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.
Sandisk Stock Down 0.9%
Shares of SNDK opened at $1,547.56 on Tuesday. Sandisk Corporation has a 52-week low of $35.79 and a 52-week high of $1,600.00. The company has a market capitalization of $229.18 billion, a PE ratio of 53.79 and a beta of 4.82. The stock has a fifty day simple moving average of $833.70 and a two-hundred day simple moving average of $520.41.
Sandisk (NASDAQ:SNDK - Get Free Report) last issued its earnings results on Thursday, April 30th. The data storage provider reported $23.41 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $14.17 by $9.24. Sandisk had a return on equity of 44.06% and a net margin of 34.19%.The business had revenue of $5.95 billion during the quarter. During the same period last year, the business earned ($0.30) earnings per share. The firm's revenue was up 251.0% compared to the same quarter last year. Sandisk has set its Q4 2026 guidance at 30.000-33.000 EPS. As a group, equities analysts anticipate that Sandisk Corporation will post 63.93 earnings per share for the current fiscal year.
Institutional Trading of Sandisk
A number of hedge funds and other institutional investors have recently modified their holdings of SNDK. GHP Investment Advisors Inc. boosted its holdings in Sandisk by 12.0% during the 1st quarter. GHP Investment Advisors Inc. now owns 121 shares of the data storage provider's stock valued at $77,000 after acquiring an additional 13 shares during the period. Blair William & Co. IL boosted its holdings in Sandisk by 0.3% during the 4th quarter. Blair William & Co. IL now owns 5,287 shares of the data storage provider's stock valued at $1,255,000 after acquiring an additional 17 shares during the period. Larson Financial Group LLC boosted its holdings in Sandisk by 20.2% during the 4th quarter. Larson Financial Group LLC now owns 220 shares of the data storage provider's stock valued at $52,000 after acquiring an additional 37 shares during the period. Valley Wealth Managers Inc. purchased a new position in Sandisk during the 1st quarter valued at about $25,000. Finally, Composition Wealth LLC boosted its holdings in Sandisk by 0.4% during the 4th quarter. Composition Wealth LLC now owns 10,299 shares of the data storage provider's stock valued at $2,445,000 after acquiring an additional 41 shares during the period.
Wall Street Analysts Forecast Growth
A number of analysts recently issued reports on the company. The Goldman Sachs Group reissued a "buy" rating and set a $1,200.00 price objective on shares of Sandisk in a research report on Friday, May 1st. Bank of America raised their price objective on Sandisk from $900.00 to $1,080.00 and gave the stock a "buy" rating in a research report on Friday, April 17th. Melius Research assumed coverage on Sandisk in a research report on Monday, April 27th. They set a "buy" rating for the company. Benchmark raised their price objective on Sandisk from $260.00 to $450.00 and gave the stock a "buy" rating in a research report on Thursday, January 15th. Finally, Arete Research raised Sandisk from a "hold" rating to a "strong-buy" rating in a research report on Monday, April 13th. Three analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and five have given a Hold rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $1,065.81.
Read Our Latest Research Report on SNDK
Key Sandisk News
Here are the key news stories impacting Sandisk this week:
Sandisk Company Profile
(
Get Free Report)
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.
Further Reading
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