Sandisk (NASDAQ:SNDK) Shares Up 4.6% – Still a Buy?

Sandisk Corporation (NASDAQ:SNDK)’s stock price shot up 4.6% during mid-day trading on Wednesday . The stock traded as high as $261.37 and last traded at $256.10. 3,430,432 shares were traded during trading, a decline of 41% from the average session volume of 5,853,226 shares. The stock had previously closed at $244.90.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on SNDK shares. Morgan Stanley lifted their target price on Sandisk from $263.00 to $273.00 and gave the company an “overweight” rating in a research note on Monday, November 24th. Benchmark reiterated a “buy” rating on shares of Sandisk in a research report on Thursday, December 18th. Sanford C. Bernstein upgraded shares of Sandisk to a “strong-buy” rating in a research report on Tuesday, September 16th. Wells Fargo & Company raised their target price on shares of Sandisk from $115.00 to $230.00 and gave the company an “equal weight” rating in a research note on Friday, November 7th. Finally, UBS Group reissued an “overweight” rating and set a $230.00 price target on shares of Sandisk in a research note on Monday, November 3rd. Three analysts have rated the stock with a Strong Buy rating, twelve have given 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, Sandisk currently has an average rating of “Moderate Buy” and a consensus price target of $213.33.

Sandisk Stock Performance

The stock has a market cap of $36.65 billion and a P/E ratio of 781.50. The stock has a fifty day simple moving average of $215.34 and a 200-day simple moving average of $116.61. The company has a quick ratio of 2.03, a current ratio of 3.29 and a debt-to-equity ratio of 0.14.

Sandisk (NASDAQ:SNDK) last released its quarterly earnings data 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 firm had revenue of $2.31 billion for the quarter, compared to the consensus estimate of $2.12 billion. Sandisk’s revenue for the quarter was up 22.6% on a year-over-year basis. Sandisk has set its Q2 2026 guidance at 3.000-3.40 EPS.

Insider Buying and Selling at Sandisk

In other news, Director Necip Sayiner sold 1,271 shares of the business’s stock in a transaction on Wednesday, December 3rd. The shares were sold at an average price of $195.14, for a total value of $248,022.94. Following the completion of the transaction, the director owned 3,479 shares of the company’s stock, valued at $678,892.06. The trade was a 26.76% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.21% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in shares of Sandisk during the third quarter worth about $27,000. CVA Family Office LLC bought a new stake in Sandisk during the 3rd quarter worth approximately $28,000. Parallel Advisors LLC acquired a new stake in Sandisk during the 3rd quarter worth approximately $30,000. Northwestern Mutual Wealth Management Co. bought a new position in Sandisk in the third quarter valued at approximately $32,000. Finally, Covestor Ltd bought a new position in Sandisk in the third quarter valued at approximately $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. It offers SSDs for client computing applications, which encompass desktop computers, notebook computers, tablets and other computing devices.