Sandisk (NASDAQ:SNDK) Stock Price Up 9% After Analyst Upgrade

Sandisk Corporation (NASDAQ:SNDK) rose 9% during mid-day trading on Thursday after Cantor Fitzgerald raised their price target on the stock from $800.00 to $1,000.00. Cantor Fitzgerald currently has an overweight rating on the stock. Sandisk traded as high as $855.00 and last traded at $851.57. Approximately 16,865,624 shares were traded during mid-day trading, a decline of 13% from the average daily volume of 19,323,082 shares. The stock had previously closed at $780.90.

Other analysts also recently issued reports about the stock. Weiss Ratings reiterated a “sell (d+)” rating on shares of Sandisk in a report on Monday, December 29th. Citigroup lifted their price target on shares of Sandisk from $750.00 to $875.00 and gave the company a “buy” rating in a report on Thursday, March 19th. Jefferies Financial Group lifted their price target on shares of Sandisk from $600.00 to $700.00 and gave the company a “buy” rating in a report on Friday, January 30th. Wedbush lifted their price target on shares of Sandisk from $600.00 to $740.00 and gave the company an “outperform” rating in a report on Friday, January 30th. Finally, Raymond James Financial upgraded shares of Sandisk from a “market perform” rating to an “outperform” rating and set a $725.00 price target on the stock in a report on Friday, January 30th. Two analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Sandisk currently has an average rating of “Moderate Buy” and a consensus price target of $604.00.

Insider Activity at Sandisk

In related news, Director Miyuki Suzuki sold 3,500 shares of Sandisk stock in a transaction dated Wednesday, February 25th. The shares were sold at an average price of $627.53, for a total transaction of $2,196,355.00. Following the completion of the transaction, the director directly owned 9,907 shares of the company’s stock, valued at approximately $6,216,939.71. The trade was a 26.11% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.21% of the stock is owned by insiders.

Key Stories Impacting Sandisk

Here are the key news stories impacting Sandisk this week:

• Positive Sentiment: Renewed AI-data-center demand and rising NAND prices are being credited for the run-up — traders and ETF flows are rotating back into memory names, boosting SNDK. SanDisk Stock Hits All-Time High
• Positive Sentiment: Analyst bullishness: Cantor Fitzgerald raised its price target (now overweight), Bernstein and others have very high targets (e.g., $1,250 bull calls), which supports momentum and buyer interest. Analyst Target Raise (Benzinga)
• Positive Sentiment: Media/market commentary highlights the stock as a top-performing blue‑chip and speculates even larger upside if the AI-memory cycle continues — that narrative is attracting momentum traders. Why Sandisk Made the Best Performing Blue Chip Stocks List
• Positive Sentiment: Strategic deal: Sandisk’s subsidiary agreed to buy ~139M shares of Nanya (DRAM) for roughly $1B — expands exposure to DRAM and vertical positioning amid secular memory demand. Sandisk to Acquire Nanya Technology
• Neutral Sentiment: Recent fundamentals: Q2 results showed a big beat (EPS and +61% YoY revenue), which underpins optimism but the market is currently driven as much by narrative and flows as by incremental fundamental changes. (Company Q2 results)
• Neutral Sentiment: Price-target dispersion: Wall Street targets vary widely (median lower than the highest bulls), so further moves may depend on continued proof of sustained NAND pricing and AI demand. QuiverQuant Discussion
• Negative Sentiment: Valuation and froth risk: Commentators warn of stretched valuations, very high PE and extreme run-up vs. fundamentals — the stock is volatile (high beta) and could see sharp pullbacks if NAND momentum cools. Caution on Euphoria
• Negative Sentiment: Insider and institutional activity mixed: recent insider sales and large institutional rebalances (some big sellers reduced positions) could limit upside if momentum fades. Insider/Institutional Activity
• Negative Sentiment: Contrarian view: some analysts/writers urge caution and say they aren’t chasing the cycle — a reminder that sentiment-driven rallies can reverse quickly. Seeking Alpha Caution Piece

Hedge Funds Weigh In On Sandisk

A number of large investors have recently made changes to their positions in the company. Vanguard Group Inc. purchased a new position in shares of Sandisk during the 3rd quarter worth about $1,970,388,000. State Street Corp boosted its stake in shares of Sandisk by 20.7% during the 4th quarter. State Street Corp now owns 5,281,522 shares of the data storage provider’s stock worth $1,253,728,000 after purchasing an additional 904,933 shares during the period. Geode Capital Management LLC boosted its stake in shares of Sandisk by 44.9% during 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 during the period. Arrowstreet Capital Limited Partnership boosted its stake in shares of Sandisk by 31.3% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 3,478,002 shares of the data storage provider’s stock worth $825,608,000 after purchasing an additional 828,332 shares during the period. Finally, Morgan Stanley boosted its stake in shares of Sandisk by 7.2% during the 4th quarter. Morgan Stanley now owns 2,970,361 shares of the data storage provider’s stock worth $705,105,000 after purchasing an additional 199,545 shares during the period.

Sandisk Stock Performance

The company has a current ratio of 3.11, a quick ratio of 1.92 and a debt-to-equity ratio of 0.06. The business’s 50 day moving average is $646.84 and its 200 day moving average is $381.23. The stock has a market capitalization of $125.69 billion, a PE ratio of -112.20 and a beta of 5.04.

Sandisk (NASDAQ:SNDK) last released its quarterly earnings results on Thursday, January 29th. The data storage provider reported $6.20 EPS for the quarter, topping analysts’ consensus estimates of $3.31 by $2.89. Sandisk had a negative net margin of 11.66% and a positive return on equity of 10.11%. The firm had revenue of $3.03 billion during the quarter, compared to analysts’ expectations of $2.67 billion. The firm’s quarterly revenue was up 61.2% on a year-over-year basis.

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.