SanDisk stock slipped about 3% on Tuesday, touching lows near $827, as the company prepares for an 8‑for‑1 split and faces rising competition from China’s YMTC.
SanDisk Corp. (NASDAQ:SNDK) saw its stock decline about 3% on Tuesday, trading around $860 after closing the previous day at $886.51. The dip brought the price down to an intraday low reported between $826.67 and $839.41, depending on the data source. The move comes as the company prepares for an 8‑for‑1 stock split slated for Friday, November 20, and follows a broader sell‑off in memory‑related equities.
Despite the price slide, SanDisk delivered a stronger‑than‑expected third‑quarter report on October 29. Earnings per share came in at $49.51, surpassing the consensus estimate of $46.19, while revenue rose 23% year‑over‑year to $11.03 billion. Net margin reached 67.04%, reinforcing the company’s profitability despite a challenging market environment.
Counterpoint Research noted that SanDisk’s global NAND revenue share slipped to 11% in Q2, down from 13% in Q1, as Chinese rival Yangtze Memory Technologies Corp. (YMTC) captured 14% of the market. The shift places YMTC ahead of SanDisk on this metric, adding to investor concerns about the firm’s competitive positioning.
Analyst sentiment has cooled modestly. Fox Advisors downgraded SanDisk to an Equal‑Weight rating on November 2, and Royal Bank of Canada trimmed its price target to $1,400 from $1,600 on October 30, while maintaining a sector‑perform outlook. Nonetheless, a majority of Wall Street analysts remain bullish, with 22 rating the stock as a Buy, 5 as Hold, and an average target price of $2,056.23—more than double the current trading level.
Investors will monitor the post‑split trading dynamics to see whether the lower price per share attracts new buying interest. Additionally, any shifts in NAND market share, especially against YMTC, and further guidance from SanDisk’s management on AI‑related memory demand will be key indicators of the stock’s trajectory.
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