Bernard Shek Sells 600 Shares of Sandisk (NASDAQ:SNDK) Stock
by Amy Steele · The Cerbat GemSandisk Corporation (NASDAQ:SNDK – Get Free Report) insider Bernard Shek sold 600 shares of the stock in a transaction on Wednesday, June 3rd. The stock was sold at an average price of $1,736.00, for a total value of $1,041,600.00. Following the transaction, the insider owned 32,232 shares of the company’s stock, valued at approximately $55,954,752. This represents a 1.83% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Sandisk Trading Down 11.4%
SNDK traded down $200.36 on Friday, hitting $1,559.32. The company had a trading volume of 13,143,990 shares, compared to its average volume of 17,410,734. The company’s fifty day moving average price is $1,157.00 and its 200 day moving average price is $689.74. Sandisk Corporation has a 1 year low of $38.53 and a 1 year high of $1,861.00. The firm has a market cap of $230.92 billion, a P/E ratio of 54.20 and a beta of 4.87.
Sandisk (NASDAQ:SNDK – Get Free Report) last announced its quarterly earnings results on Thursday, April 30th. The data storage provider reported $23.41 earnings per share for the quarter, beating analysts’ consensus estimates of $14.17 by $9.24. The business 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 was up 251.0% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.30) earnings per share. Sandisk has set its Q4 2026 guidance at 30.000-33.000 EPS. On average, analysts predict that Sandisk Corporation will post 63.58 earnings per share for the current year.
Hedge Funds Weigh In On Sandisk
Institutional investors and hedge funds have recently made changes to their positions in the stock. Valley Wealth Managers Inc. acquired a new stake in Sandisk in the first quarter valued at approximately $25,000. IMG Wealth Management Inc. acquired a new position in Sandisk during the 1st quarter worth approximately $29,000. SOA Wealth Advisors LLC. grew its holdings in Sandisk by 108.0% during the 1st quarter. SOA Wealth Advisors LLC. now owns 52 shares of the data storage provider’s stock worth $33,000 after acquiring an additional 27 shares in the last quarter. Cedar Mountain Advisors LLC increased its position in shares of Sandisk by 2,750.0% in the 1st quarter. Cedar Mountain Advisors LLC now owns 57 shares of the data storage provider’s stock valued at $36,000 after purchasing an additional 55 shares during the last quarter. Finally, Roble Belko & Company Inc acquired a new stake in shares of Sandisk in the 1st quarter valued at $39,000.
Analysts Set New Price Targets
A number of equities research analysts have recently weighed in on SNDK shares. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $1,200.00 price objective on shares of Sandisk in a research note on Friday, May 1st. Susquehanna lifted their target price 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. Bank of America boosted their price target on shares of Sandisk from $900.00 to $1,080.00 and gave the stock a “buy” rating in a research note on Friday, April 17th. Raymond James Financial reissued an “outperform” rating and issued a $1,470.00 price objective on shares of Sandisk in a research note on Friday, May 1st. Finally, Sanford C. Bernstein lifted their price objective 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. Three analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $1,398.27.
Check Out Our Latest Research Report on SNDK
More Sandisk News
Here are the key news stories impacting Sandisk this week:
- Positive Sentiment: Analyst commentary remains constructive, with reports citing bullish views on Sandisk and Morgan Stanley lifting its price target by 59%, signaling expectations for further upside from AI-driven memory demand. SNDK stock hits record high: Morgan Stanley raises PT by 59%, sees further upside ahead
- Positive Sentiment: Several bullish pieces argue Sandisk’s AI storage opportunity is still early, highlighting strong recent revenue growth, high margins, and a favorable memory-supply backdrop that could support fundamentals. Sandisk’s AI Storage Moment Is Just Getting Started
- Neutral Sentiment: Market commentary notes Sandisk was among the standout semiconductor winners this year, but that outsized rally is also making the shares more vulnerable to profit-taking and valuation concerns. Sandisk stock is firing on all cylinders: is a day of reckoning coming?
- Neutral Sentiment: Another article suggests analysts still see Sandisk as a key AI memory beneficiary, reinforcing the long-term demand story even as short-term trading turns volatile. These Experts Say the Memory-Stock Runup May Not Be Over Yet
- Negative Sentiment: Friday’s selloff appears driven by a “parabolic” unwind in semiconductor leaders, with Sandisk and peers Micron and Marvell sliding as investors reduce exposure to overheated AI trades. Micron, Sandisk stocks slide as traders exit high-flying AI plays
- Negative Sentiment: New competition concerns and softer sentiment across tech hardware added to the weakness, suggesting near-term momentum could fade if the sector rotation continues. Micron (MU), SanDisk (SNDK) Stocks Slide after Broadcom Outlook and New Competition Threat
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.