JPMorgan Chase & Co. Initiates Coverage on Sandisk (NASDAQ:SNDK)

Analysts at JPMorgan Chase & Co. initiated coverage on shares of Sandisk (NASDAQ:SNDK) in a report issued on Monday, MarketBeat.com reports. The firm set a “neutral” rating and a $235.00 price target on the data storage provider’s stock. JPMorgan Chase & Co.‘s price target indicates a potential upside of 7.08% from the company’s previous close.

A number of other equities research analysts also recently issued reports on the company. Cantor Fitzgerald upped their price objective on Sandisk from $240.00 to $300.00 and gave the company an “overweight” rating in a research report on Friday, November 7th. Wall Street Zen upgraded shares of Sandisk from a “hold” rating to a “strong-buy” rating in a report on Saturday, November 15th. Wells Fargo & Company lifted their price objective on shares of Sandisk from $115.00 to $230.00 and gave the company an “equal weight” rating in a report on Friday, November 7th. UBS Group restated an “overweight” rating and issued a $230.00 target price on shares of Sandisk in a research note on Monday, November 3rd. Finally, Bank of America lifted their price target on shares of Sandisk from $270.00 to $300.00 and gave the company a “buy” rating in a research note on Thursday, November 20th. Three equities research analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Sandisk currently has a consensus rating of “Moderate Buy” and an average price target of $213.33.

Sandisk Stock Down 2.7%

Shares of SNDK opened at $219.46 on Monday. 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 $32.16 billion and a price-to-earnings ratio of 685.81. Sandisk has a 1 year low of $27.89 and a 1 year high of $284.76. The business’s 50 day simple moving average is $191.40 and its 200-day simple moving average is $101.64.

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

Insider Transactions at Sandisk

In related news, Director Necip Sayiner sold 1,271 shares of the company’s stock in a transaction dated Wednesday, December 3rd. The stock was sold at an average price of $195.14, for a total transaction of $248,022.94. Following the transaction, the director directly owned 3,479 shares of the company’s stock, valued at $678,892.06. This represents a 26.76% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. 0.21% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Sandisk

Hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. acquired a new position in Sandisk during the 3rd quarter valued at approximately $1,970,388,000. State Street Corp purchased a new stake in shares of Sandisk during the third quarter valued at $491,053,000. Arrowstreet Capital Limited Partnership acquired a new position in shares of Sandisk in the 3rd quarter valued at $297,293,000. Bank of America Corp DE purchased a new position in Sandisk in the 3rd quarter worth $190,425,000. Finally, AQR Capital Management LLC acquired a new stake in Sandisk during the 3rd quarter worth about $163,057,000.

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.