Sandisk (NASDAQ:SNDK) Now Covered by Argus

Argus initiated coverage on shares of Sandisk (NASDAQ:SNDK) in a report released on Wednesday morning, MarketBeat reports. The firm issued a hold rating on the data storage provider’s stock.

Several other brokerages also recently commented on SNDK. Jefferies Financial Group reaffirmed a “buy” rating and set a $1,400.00 price objective on shares of Sandisk in a research note on Friday, May 1st. Morgan Stanley increased their price target on Sandisk from $1,100.00 to $1,750.00 and gave the stock an “overweight” rating in a report on Wednesday, June 3rd. Melius Research set a $2,350.00 price target on Sandisk in a research report on Monday, May 18th. Barclays upgraded Sandisk from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $1,200.00 to $2,300.00 in a report on Tuesday, May 26th. Finally, Susquehanna boosted their price objective on Sandisk from $2,000.00 to $3,250.00 and gave the company a “positive” rating in a research report on Friday, May 29th. Two investment analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $1,803.29.

Sandisk Stock Performance

Shares of NASDAQ:SNDK opened at $1,615.00 on Wednesday. The company has a 50 day moving average price of $1,748.98 and a two-hundred day moving average price of $1,032.16. The company has a market capitalization of $239.17 billion, a PE ratio of 56.13 and a beta of 4.74. Sandisk has a 52 week low of $40.10 and a 52 week high of $2,354.39.

Sandisk (NASDAQ:SNDK) last announced its quarterly 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. Sandisk had a net margin of 34.19% and a return on equity of 44.06%. The company had revenue of $5.95 billion for the quarter. During the same period in the prior year, the business earned ($0.30) earnings per share. The company’s revenue for the quarter was up 251.0% compared to the same quarter last year. Sandisk has set its Q4 2026 guidance at 30.000-33.000 EPS. On average, sell-side analysts forecast that Sandisk will post 64.95 earnings per share for the current year.

Insider Buying and Selling at Sandisk

In other Sandisk news, Director Necip Sayiner sold 579 shares of Sandisk stock in a transaction on Friday, May 8th. The shares were sold at an average price of $1,503.11, for a total value of $870,300.69. Following the sale, the director directly owned 2,900 shares in the company, valued at approximately $4,359,019. The trade was a 16.64% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Alper Ilkbahar sold 2,000 shares of the business’s stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $1,756.58, for a total transaction of $3,513,160.00. Following the sale, the executive vice president directly owned 52,677 shares in the company, valued at $92,531,364.66. This trade represents a 3.66% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 6,225 shares of company stock valued at $10,166,297 over the last quarter. 0.21% of the stock is currently owned by corporate insiders.

Institutional Trading of Sandisk

Several institutional investors and hedge funds have recently bought and sold shares of the stock. State Street Corp bought a new position in shares of Sandisk in the third quarter valued at $491,053,000. Arrowstreet Capital Limited Partnership bought a new stake in Sandisk during the third quarter worth $297,293,000. Norges Bank bought a new stake in Sandisk during the fourth quarter worth $518,889,000. Bank of America Corp DE acquired a new stake in Sandisk in the third quarter valued at $190,425,000. Finally, AQR Capital Management LLC acquired a new stake in Sandisk in the third quarter valued at $163,057,000.

More Sandisk News

Here are the key news stories impacting Sandisk this week:

• Positive Sentiment: Analysts remain bullish despite the pullback, with Wedbush, BofA and Bernstein lifting price targets and some commentary arguing the AI memory boom still has room to run. Wedbush Pounds the Table—Buy Sandisk Before August 5 Earnings
• Positive Sentiment: Several articles highlight strong recent earnings, improving memory pricing and AI-driven demand as reasons investors still see upside ahead of SanDisk’s Aug. 5 earnings report. What’s Going on With Sandisk Stock Wednesday?
• Neutral Sentiment: Argus initiated coverage with a Hold, saying the stock has already had a big post-spin-off rally and that investors may need either a pullback or clearer earnings acceleration before paying up again. Analyst Maintains Hold on SanDisk After Post–Spin-Off Rally
• Negative Sentiment: Profit-taking is hitting the entire memory complex, and SanDisk is being sold alongside Micron, Western Digital and SK Hynix as traders lock in gains after a steep multi-month rally. Dell, Micron, SanDisk tumble as AI hardware rally hits reversal
• Negative Sentiment: More cautious commentary says the best part of the rally could be over, with some investors worrying that the stock’s valuation and momentum have outrun fundamentals for now. Sandisk: The Best Part Of The Rally Could Be Over

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.