Sandisk (NASDAQ:SNDK) Now Covered by Melius Research

Melius Research assumed coverage on shares of Sandisk (NASDAQ:SNDK) in a report released on Monday, Marketbeat.com reports. The firm issued a buy rating on the data storage provider’s stock.

A number of other research firms have also recently commented on SNDK. KGI Securities initiated coverage on shares of Sandisk in a report on Wednesday, March 18th. They set an “outperform” rating and a $992.00 price target on the stock. Wall Street Zen upgraded shares of Sandisk from a “buy” rating to a “strong-buy” rating in a report on Saturday, January 31st. Jefferies Financial Group increased their target price on Sandisk from $600.00 to $700.00 and gave the company a “buy” rating in a research note on Friday, January 30th. Cantor Fitzgerald lifted their target price on Sandisk from $800.00 to $1,000.00 and gave the stock an “overweight” rating in a report on Thursday, April 9th. Finally, Evercore assumed coverage on Sandisk in a report on Monday, April 13th. They set an “outperform” rating and a $1,200.00 price target on the stock. Three analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Sandisk has an average rating of “Moderate Buy” and an average price target of $791.05.

Sandisk Trading Up 8.1%

NASDAQ SNDK opened at $1,070.20 on Monday. Sandisk has a 12 month low of $31.01 and a 12 month high of $1,070.66. 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 stock’s fifty day moving average price is $726.15 and its 200-day moving average price is $454.74. The stock has a market cap of $157.96 billion, a P/E ratio of -141.00 and a beta of 5.04.

Sandisk (NASDAQ:SNDK) last posted its quarterly earnings results on Thursday, January 29th. The data storage provider reported $6.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.31 by $2.89. The firm had revenue of $3.03 billion during the quarter, compared to analyst estimates of $2.67 billion. Sandisk had a positive return on equity of 10.11% and a negative net margin of 11.66%.The company’s quarterly revenue was up 61.2% on a year-over-year basis. As a group, equities analysts forecast that Sandisk will post 39.01 EPS for the current fiscal year.

Insider Buying and Selling at Sandisk

In other news, Director Miyuki Suzuki sold 3,500 shares of Sandisk stock in a transaction on 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 transaction, the director owned 9,907 shares in the company, valued at $6,216,939.71. This trade represents a 26.11% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.21% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Sandisk

Institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. purchased a new position in shares of Sandisk during the 3rd quarter valued at about $1,970,388,000. State Street Corp purchased a new stake in Sandisk in the 3rd quarter worth approximately $491,053,000. Arrowstreet Capital Limited Partnership purchased a new stake in Sandisk in the 3rd quarter worth approximately $297,293,000. Norges Bank bought a new stake in Sandisk during the 4th quarter worth approximately $518,889,000. Finally, Bank of America Corp DE bought a new stake in Sandisk during the 3rd quarter worth approximately $190,425,000.

Key Stories Impacting Sandisk

Here are the key news stories impacting Sandisk this week:

• Positive Sentiment: Melius Research initiated coverage with a buy and other firms have raised targets, signaling fresh institutional conviction in SNDK’s upside. Micron, Sandisk Stocks Will Climb 36% and 33% This Quickly, Say Analysts
• Positive Sentiment: Morgan Stanley raised estimates and its target ahead of Q3, boosting near-term demand expectations and lifting sentiment. Sandisk edges up ahead of Q3 earnings; Morgan Stanley increases estimates, target
• Positive Sentiment: Analysts and research notes (CNBC coverage) point to structurally stronger memory demand out to 2030, supporting a multi-year thesis for NAND suppliers including SanDisk. Micron and Sandisk pop as memory demand to remain high through 2030
• Positive Sentiment: Wells Fargo and other banks have moved price targets higher and said they “missed” the rebound, which amplifies buy-side momentum. Wells Fargo Says “We’ve Clearly Missed Sandisk Corporation (SNDK)”
• Positive Sentiment: Media and TV endorsements (Jim Cramer) and multiple analyst notes are highlighting that Sandisk could continue “blowing away” numbers, adding retail momentum. Jim Cramer Believes Sandisk and Western Digital “Can Keep Blowing Away the Numbers”
• Positive Sentiment: Pre-earnings previews (Zacks, TipRanks) show expectations for strong Q3 revenue/EPS driven by AI-related tightness—this reduces execution risk in the near term. Pre-Q3 Earnings: Is Sandisk Stock a Portfolio Must-Have?
• Neutral Sentiment: Macro pieces note the broader AI/tech rally is sustaining flows into memory names; that helps SNDK but also raises correlation risk with the sector. For Hot AI Stocks, ‘The Music’s Playing’—And Shares Are Rising. Can This Continue?
• Neutral Sentiment: Industry coverage says data-storage stocks broadly have had a strong year and earnings could accelerate the move—positive tailwind but not unique to SNDK. Data Storage Stocks Have Had a Great Year So Far. It Could Be About to Get Better.
• Negative Sentiment: Social/analytic threads warn of parabolic moves, insider sales and elevated retail euphoria—risk of sharp pullbacks if results or guidance disappoint. SanDisk Stock (SNDK) Opinions on AI Storage Boom and Earnings Preview
• Negative Sentiment: New ETFs and products make it easier to short or bet against SNDK (“sell the news” strategies), increasing downside liquidity risk around the earnings date. Sell the news? You can now bet against SanDisk stock twice over with this new ETF

Sandisk Company Profile

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.