SanDisk shares climbed over 16% in Monday trading after the company reported second-quarter revenue of $3.03 billion, up 60% year-over-year, beating consensus by more than $350 million. Net income surged 672% over the prior year, driven by a margin expansion to 51%, well above Street expectations. Investors responded to management’s commentary highlighting robust enterprise, data-center and AI demand, pushing trading volumes to the highest level in six months.

Wall Street analysts have turned increasingly positive on SanDisk, with several firms raising their targets by double-digit percentages in the past month. Benchmark upgraded to a buy with a target increase from $260 to $450, Citigroup lifted its target from $280 to $490, and Wedbush moved its forecast to $740. Collectively, 14 analysts now recommend a buy, while the consensus price target has climbed toward $490.60, reflecting expectations of continued margin expansion and strong NAND pricing over the next two years.

Management issued third-quarter guidance calling for revenue between $4.4 billion and $4.8 billion and EPS of $12–$14, substantially above Street estimates of $3.5 billion and $8.50 respectively. The guidance underscores resilient pricing in the NAND market and indicates that unit demand for SSDs used in AI inference and edge computing remains robust. The extension of the Yokkaichi joint venture with Kioxia through 2034 further secures SanDisk’s supply chain and should support continued volume growth.

According to the latest 13F filings, STRS Ohio established a new position of 3,225 shares, valued at approximately $362,000, alongside several other hedge funds initiating stakes ranging from $28,000 to $1.8 million in the third quarter. On the insider front, Director Necip Sayiner sold 1,271 shares in early December, reducing his holding by 26.8% in a transaction disclosed to the SEC. Overall insider ownership remains low at 0.21%, indicating limited internal selling pressure despite the recent share price run.