Sandisk (NASDAQ:SNDK) Shares Gap Down – Here’s What Happened

Sandisk Corporation (NASDAQ:SNDK) shares gapped down prior to trading on Friday . The stock had previously closed at $241.61, but opened at $232.11. Sandisk shares last traded at $213.17, with a volume of 3,959,991 shares traded.

Analyst Ratings Changes

Several equities analysts have commented on the stock. Zacks Research upgraded shares of Sandisk from a “hold” rating to a “strong-buy” rating in a research report on Friday, November 14th. Bank of America upped their target price on shares of Sandisk from $270.00 to $300.00 and gave the company a “buy” rating in a research report on Thursday, November 20th. Citigroup increased their price target on shares of Sandisk from $150.00 to $280.00 and gave the company a “buy” rating in a report on Friday, November 7th. Fox Advisors raised Sandisk from a “hold” rating to a “strong-buy” rating in a research note on Friday, November 7th. Finally, Wall Street Zen upgraded Sandisk from a “hold” rating to a “strong-buy” rating in a research report on Saturday, November 15th. Three investment analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $213.33.

Sandisk Price Performance

The company has a debt-to-equity ratio of 0.14, a quick ratio of 2.03 and a current ratio of 3.29. The company has a market capitalization of $30.22 billion and a P/E ratio of 644.31. The firm’s fifty day moving average is $197.54 and its 200 day moving average is $105.17.

Sandisk (NASDAQ:SNDK) last announced its earnings results on Thursday, November 6th. The data storage provider reported $1.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.58 by $0.64. The business had revenue of $2.31 billion for the quarter, compared to analysts’ expectations 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 Buying and Selling

In other Sandisk news, Director Necip Sayiner sold 1,271 shares of the stock in a transaction on Wednesday, December 3rd. The stock was sold at an average price of $195.14, for a total value of $248,022.94. Following the sale, the director owned 3,479 shares in the company, valued at $678,892.06. This trade represents a 26.76% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.21% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Mitsubishi UFJ Asset Management Co. Ltd. bought a new position in Sandisk in the 3rd quarter worth about $27,000. CVA Family Office LLC bought a new position in Sandisk in the third quarter worth approximately $28,000. Parallel Advisors LLC bought a new position in Sandisk in the third quarter worth approximately $30,000. Northwestern Mutual Wealth Management Co. purchased a new position in Sandisk during the 3rd quarter worth $32,000. Finally, Covestor Ltd bought a new stake in Sandisk during the 3rd quarter valued at $37,000.

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.