Sandisk (NASDAQ:SNDK) Trading Down 10.8% – Here’s What Happened

Sandisk Corporation (NASDAQ:SNDK) shares traded down 10.8% during trading on Friday . The stock traded as low as $1,411.50 and last traded at $1,436.56. Approximately 13,874,880 shares changed hands during trading, a decline of 15% from the average daily volume of 16,303,954 shares. The stock had previously closed at $1,610.33.

Key Stories Impacting Sandisk

Here are the key news stories impacting Sandisk this week:

• Positive Sentiment: SanDisk remains a major AI-storage beneficiary, with multiple recent articles highlighting strong demand for memory and enterprise storage tied to AI infrastructure spending and tight supply. Article Title
• Positive Sentiment: Analysts and traders are still focused on SanDisk’s upcoming fiscal Q4 earnings on August 5, with expectations for a large move and a chance for another earnings beat after a strong surprise history. Article Title
• Neutral Sentiment: New ETF products are being launched to trade the DRAM and memory rally, underscoring strong investor interest in the group, though this is more a sentiment signal than a direct catalyst for SanDisk. Article Title
• Neutral Sentiment: Options traders are pricing in a sizable post-earnings swing, reflecting elevated expectations and uncertainty heading into the report. Article Title
• Negative Sentiment: Memory and chip stocks are under pressure today, and SanDisk is being dragged lower by a sector-wide risk-off move after recent gains in AI-related semiconductors. Article Title
• Negative Sentiment: SanDisk has also pulled back sharply from recent highs, and some coverage now frames the move as a correction after an extended AI-driven rally. Article Title

Analysts Set New Price Targets

A number of equities research analysts recently commented on the company. Sanford C. Bernstein boosted their target price on Sandisk from $1,700.00 to $3,000.00 and gave the stock an “outperform” rating in a research report on Monday, June 29th. Bank of America raised their price target on Sandisk from $2,100.00 to $2,500.00 and gave the company a “buy” rating in a report on Wednesday, July 1st. Arete Research raised Sandisk from a “hold” rating to a “strong-buy” rating in a research note on Monday, April 13th. Morgan Stanley upped their price objective on Sandisk from $1,100.00 to $1,750.00 and gave the stock an “overweight” rating in a report on Wednesday, June 3rd. Finally, Raymond James Financial reiterated an “outperform” rating and set a $1,470.00 target price on shares of Sandisk in a research report on Friday, May 1st. Two equities research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $1,811.38.

Sandisk Stock Down 10.8%

The company has a 50 day simple moving average of $1,754.03 and a two-hundred day simple moving average of $1,087.24. The company has a market capitalization of $212.74 billion, a P/E ratio of 49.93 and a beta of 4.74.

Sandisk (NASDAQ:SNDK) last posted its quarterly earnings data on Thursday, April 30th. The data storage provider reported $23.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $14.17 by $9.24. The business had revenue of $5.95 billion during the quarter. Sandisk had a return on equity of 44.06% and a net margin of 34.19%.Sandisk’s revenue for the quarter was up 251.0% on a year-over-year basis. During the same period in the previous year, the business earned ($0.30) earnings per share. Sandisk has set its Q4 2026 guidance at 30.000-33.000 EPS. As a group, research analysts expect that Sandisk Corporation will post 64.52 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, insider Bernard Shek sold 600 shares of the stock in a transaction that occurred on Wednesday, July 1st. The stock was sold at an average price of $2,088.00, for a total value of $1,252,800.00. Following the sale, the insider directly owned 31,515 shares in the company, valued at approximately $65,803,320. This represents a 1.87% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Michael Pokorny sold 2,446 shares of the firm’s stock in a transaction that occurred on Tuesday, May 12th. The stock was sold at an average price of $1,426.18, for a total value of $3,488,436.28. Following the sale, the chief accounting officer directly owned 22,375 shares of the company’s stock, valued at $31,910,777.50. This represents a 9.85% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 6,225 shares of company stock worth $10,166,297 over the last three months. 0.21% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. State Street Corp grew its stake in Sandisk by 20.7% in 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 acquiring an additional 904,933 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of Sandisk by 44.9% in the fourth quarter. Geode Capital Management LLC now owns 3,655,860 shares of the data storage provider’s stock valued at $866,310,000 after purchasing an additional 1,133,276 shares during the period. Arrowstreet Capital Limited Partnership boosted its holdings in shares of Sandisk by 31.3% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 3,478,002 shares of the data storage provider’s stock valued at $825,608,000 after purchasing an additional 828,332 shares during the period. Morgan Stanley grew its stake in Sandisk by 7.2% in the fourth 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 in the last quarter. Finally, Norges Bank bought a new position in Sandisk in the fourth quarter worth approximately $518,889,000.

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.