Sandisk (NASDAQ:SNDK) Downgraded to Buy Rating by Wall Street Zen

Sandisk (NASDAQ:SNDK) was downgraded by analysts at Wall Street Zen from a “strong-buy” rating to a “buy” rating in a report released on Saturday.

Other research analysts have also issued reports about the company. Wells Fargo & Company boosted their price target on shares of Sandisk from $115.00 to $230.00 and gave the stock an “equal weight” rating in a research report on Friday, November 7th. The Goldman Sachs Group raised their price objective on shares of Sandisk from $55.00 to $140.00 and gave the company a “buy” rating in a research report on Thursday, October 9th. China Renaissance started coverage on shares of Sandisk in a report on Friday, December 5th. They issued a “buy” rating and a $322.00 target price on the stock. Weiss Ratings reissued a “sell (d+)” rating on shares of Sandisk in a research note on Monday. Finally, Mizuho lifted their price target on shares of Sandisk to $215.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 28th. Three analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Sandisk currently has an average rating of “Moderate Buy” and an average price target of $213.33.

Sandisk Stock Performance

SNDK opened at $250.05 on Friday. The company has a market capitalization of $36.64 billion and a price-to-earnings ratio of 781.41. The company has a debt-to-equity ratio of 0.14, a current ratio of 3.29 and a quick ratio of 2.03. Sandisk has a 1-year low of $27.89 and a 1-year high of $284.76. The business has a 50 day moving average price of $217.54 and a two-hundred day moving average price of $118.07.

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

Insider Activity at Sandisk

In other news, Director Necip Sayiner sold 1,271 shares of Sandisk stock in a transaction that occurred 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 transaction, the director directly owned 3,479 shares of the company’s stock, valued at $678,892.06. This trade represents a 26.76% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.21% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Sandisk

Several hedge funds have recently made changes to their positions in SNDK. Voya Investment Management LLC purchased a new position in shares of Sandisk during the third quarter valued at $8,917,000. Perpetual Ltd acquired a new stake in Sandisk during the 3rd quarter worth about $558,000. Yousif Capital Management LLC purchased a new position in Sandisk during the 3rd quarter valued at about $5,041,000. Brighton Jones LLC purchased a new position in Sandisk during the 3rd quarter valued at about $989,000. Finally, ARS Investment Partners LLC acquired a new position in shares of Sandisk in the 3rd quarter valued at about $248,000.

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.