Sandisk (NASDAQ:SNDK) Shares Up 7.2% After Analyst Upgrade

Sandisk Corporation (NASDAQ:SNDK)’s stock price shot up 7.2% during mid-day trading on Thursday after Wells Fargo & Company raised their price target on the stock from $230.00 to $380.00. Wells Fargo & Company currently has an equal weight rating on the stock. Sandisk traded as high as $420.00 and last traded at $415.88. 3,077,235 shares changed hands during mid-day trading, a decline of 78% from the average session volume of 13,833,097 shares. The stock had previously closed at $387.81.

Several other equities research analysts also recently issued reports on the company. Cantor Fitzgerald raised their price target on Sandisk from $240.00 to $300.00 and gave the company an “overweight” rating in a research report on Friday, November 7th. Bank of America increased their target price on Sandisk from $300.00 to $390.00 and gave the company a “buy” rating in a research note on Wednesday, January 7th. Wedbush lifted their price target on Sandisk from $220.00 to $260.00 and gave the stock an “outperform” rating in a research report on Friday, November 7th. Mizuho increased their price objective on Sandisk from $250.00 to $410.00 and gave the company an “outperform” rating in a research report on Friday, January 9th. Finally, Sanford C. Bernstein raised their price objective on shares of Sandisk from $300.00 to $580.00 and gave the stock an “outperform” rating in a research note on Wednesday. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Sandisk has an average rating of “Moderate Buy” and a consensus target price of $316.84.

Insider Buying and Selling at Sandisk

In other news, Director Necip Sayiner sold 1,271 shares of the firm’s stock in a transaction that occurred on Wednesday, December 3rd. The shares were sold at an average price of $195.14, for a total transaction of $248,022.94. Following the completion of the sale, the director owned 3,479 shares of the company’s stock, valued at approximately $678,892.06. This trade represents a 26.76% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 0.21% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in SNDK. Vanguard Group Inc. acquired a new position in shares of Sandisk during the third quarter worth approximately $1,970,388,000. State Street Corp bought a new stake in shares of Sandisk during the third quarter worth $491,053,000. Arrowstreet Capital Limited Partnership acquired a new position in shares of Sandisk during the third quarter valued at $297,293,000. Bank of America Corp DE acquired a new position in shares of Sandisk during the third quarter valued at $190,425,000. Finally, AQR Capital Management LLC bought a new position in Sandisk in the third quarter valued at about $163,057,000.

Sandisk Stock Performance

The stock has a 50-day moving average of $256.04 and a 200 day moving average of $144.99. The company has a debt-to-equity ratio of 0.14, a current ratio of 3.29 and a quick ratio of 2.03. The stock has a market capitalization of $59.97 billion and a price-to-earnings ratio of 1,278.88.

Sandisk (NASDAQ:SNDK) last released its earnings results on Thursday, November 6th. The data storage provider reported $1.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.58 by $0.64. The business had revenue of $2.31 billion for the quarter, compared to analyst estimates of $2.12 billion. The business’s revenue was up 22.6% on a year-over-year basis. Sandisk has set its Q2 2026 guidance at 3.000-3.40 EPS.

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.