Alper Ilkbahar Sells 2,000 Shares of Sandisk (NASDAQ:SNDK) Stock

Sandisk Corporation (NASDAQ:SNDK) EVP Alper Ilkbahar sold 2,000 shares of the stock in a transaction on Monday, June 1st. The stock was sold at an average price of $1,756.58, for a total value of $3,513,160.00. Following the transaction, the executive vice president owned 52,677 shares of the company’s stock, valued at $92,531,364.66. The trade was a 3.66% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.

Sandisk Stock Performance

Shares of SNDK opened at $1,831.50 on Thursday. Sandisk Corporation has a fifty-two week low of $37.33 and a fifty-two week high of $1,861.00. The business has a 50-day moving average of $1,135.85 and a 200 day moving average of $679.14. The firm has a market cap of $271.23 billion, a P/E ratio of 63.66 and a beta of 4.87.

Sandisk (NASDAQ:SNDK) last issued its earnings results on Thursday, April 30th. The data storage provider reported $23.41 earnings per share for the quarter, topping analysts’ consensus estimates of $14.17 by $9.24. The firm had revenue of $5.95 billion during the quarter. Sandisk had a net margin of 34.19% and a return on equity of 44.06%. Sandisk’s revenue for the quarter was up 251.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.30) EPS. Sandisk has set its Q4 2026 guidance at 30.000-33.000 EPS. As a group, research analysts predict that Sandisk Corporation will post 63.58 earnings per share for the current fiscal year.

Trending Headlines about Sandisk

Here are the key news stories impacting Sandisk this week:

• Positive Sentiment: Analysts at Morgan Stanley said the memory-stock rally may not be over, citing strong AI demand and rising memory prices as reasons Sandisk could see further upside. Morgan Stanley says there is no quick fix to memory shortage
• Positive Sentiment: Several articles highlighted Sandisk as a favorite in the AI-memory trade, with commentators arguing the company is still benefiting from a powerful supply-demand mismatch and strong trader interest. Traders are flocking to Sandisk
• Positive Sentiment: A new article said Sandisk stock is soaring to another all-time high, reinforcing the momentum-driven bullish sentiment around the shares. Why SanDisk Stock Is Soaring to a New All-Time High Today
• Positive Sentiment: Zacks said industry momentum in cloud, IoT, auto, and AI should support storage-device names like Sandisk, adding another constructive fundamental backdrop. 3 Storage Devices Stocks to Buy as the Industry Gains Momentum
• Neutral Sentiment: Sandisk EVP Alper Ilkbahar sold 2,000 shares for about $3.5 million. The sale is worth noting, but it appears relatively modest versus his remaining stake and may not signal a major change in outlook. SEC filing
• Negative Sentiment: One report flagged Sandisk’s stock and short interest at record highs, suggesting the rally is crowded and could become more volatile if sentiment cools. SanDisk’s stock and short interest both at record highs – do the bears know something?

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on SNDK. Sanford C. Bernstein boosted their target price on shares of Sandisk from $1,250.00 to $1,700.00 and gave the company an “outperform” rating in a report on Monday, May 4th. Arete Research upgraded Sandisk from a “hold” rating to a “strong-buy” rating in a research report on Monday, April 13th. Royal Bank Of Canada raised their target price on Sandisk from $650.00 to $1,000.00 and gave the stock a “sector perform” rating in a research note on Friday, May 1st. Morgan Stanley raised their target price on Sandisk from $1,100.00 to $1,750.00 and gave the stock an “overweight” rating in a research note on Wednesday. Finally, Barclays upgraded Sandisk from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $1,200.00 to $2,300.00 in a research note on Tuesday, May 26th. Three analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, Sandisk presently has a consensus rating of “Buy” and an average price target of $1,398.27.

Institutional Trading of Sandisk

A number of hedge funds have recently made changes to their positions in the stock. Vanguard Personalized Indexing Management LLC bought a new stake in Sandisk in the third quarter worth $1,136,000. Mutual of America Capital Management LLC bought a new stake in Sandisk in the third quarter worth $1,735,000. Allworth Financial LP lifted its stake in Sandisk by 84.2% in the fourth quarter. Allworth Financial LP now owns 4,521 shares of the data storage provider’s stock worth $1,073,000 after purchasing an additional 2,067 shares during the last quarter. Tredje AP fonden bought a new stake in Sandisk in the fourth quarter worth $7,821,000. Finally, ProShare Advisors LLC lifted its stake in Sandisk by 1,301.5% in the fourth quarter. ProShare Advisors LLC now owns 33,637 shares of the data storage provider’s stock worth $7,985,000 after purchasing an additional 31,237 shares during the last quarter.

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.