Sandisk shares jump 6.2% as memory shortage outlook and bullish analyst targets lift sentiment

Sandisk shares rise 6.2% on Thursday

Sandisk Corporation (NASDAQ:SNDK) saw its share price climb 6.2% during Thursday's trading session, touching an intraday high of $1,625.36 and last trading at $1,614.39. Volume of approximately 8,386,397 shares represented a 47% decline from the stock's average daily volume of 15,826,856 shares. The shares had closed the prior session at $1,519.97.

Memory shortage outlook and AI exposure cited as catalysts

Analysts cited the unresolved memory shortage as a supportive backdrop for NAND pricing and supply discipline, framing Sandisk's data-center and AI exposure as a long-term growth catalyst. Recent commentary also argued that Sandisk's NAND bit-supply contracts could improve earnings visibility and support substantial margin expansion, with management's long-term targets of roughly 80% non-GAAP gross margins and 75% operating margins reinforcing the bullish earnings outlook through fiscal 2028–2030.

Sandisk's latest quarterly results and buyback authorization

Sandisk's most recently reported quarter showed $39.25 in earnings per share, well above the $33.28 consensus estimate, with revenue of $8.96 billion, up 371.6% year over year. The company has guided to Q1 2027 EPS of $44.00–$46.00 and announced a $14 billion share repurchase authorization covering up to 6.6% of outstanding shares, which may provide additional support by reducing the share count.

Insider sales draw cautious attention

CEO David Goeckeler sold 33,838 shares for approximately $51.7 million at an average price of $1,527.87 on Monday, September 14, reducing his direct stake by 7.57% to 413,410 shares. Separately, CFO Luis Felipe Visoso sold 1,000 shares at an average price of $1,568.83 on Tuesday, September 15, for a total of $1,568,830, leaving him with 130,976 shares. Both transactions were executed under pre-arranged Rule 10b5-1 plans.

Wall Street targets and valuation context

Recent analyst actions include Morgan Stanley raising its price objective from $1,100.00 to $1,750.00 with an "overweight" rating, Citigroup trimming its target from $2,500.00 to $2,100.00 with a "buy" rating, Bank of America lifting its target from $2,100.00 to $2,500.00, and JPMorgan initiating coverage with an "overweight" rating and a $2,250.00 price target. Sandisk carries a consensus "Moderate Buy" rating with an average target price of $1,998.14, a beta of 5.17, and a market capitalization of $222.55 billion, with shares trading well below their 52-week high of $2,354.39 amid concerns about slowing frontier-AI development and profit-taking.