Sandisk Q3 EPS Soars to $1.22 with 22.6% Revenue Growth and $3.00–3.40 EPS Guidance
Sandisk posted Q3 EPS of $1.22 versus a $0.58 consensus on $2.31 billion revenue, up 22.6% year-over-year, and set Q2 FY26 guidance at $3.00–3.40 EPS. Miracle Mile Advisors acquired 10,258 shares (~$1.15 million) in the quarter, while analysts raised price targets up to $280.
1. Institutional Investors Increase Exposure
In the third quarter, Miracle Mile Advisors LLC established a new position in Sandisk Corporation by acquiring 10,258 shares of the data storage specialist, representing an investment of approximately $1.15 million, according to the firm’s latest Form 13F filing with the SEC. Several other institutions also initiated or added to their stakes during the same period: Farther Finance Advisors LLC invested roughly $108,000, PFS Partners LLC about $168,000, Parcion Private Wealth LLC near $200,000, ARS Investment Partners LLC approximately $248,000, and S.A. Mason LLC around $252,000. These combined moves signal growing confidence among professional money managers in Sandisk’s leadership position within the NAND flash memory market and its potential to capitalize on sustained demand for high-performance storage solutions.
2. Analysts Maintain Bullish Ratings on Growth Prospects
Over the past two months, several Wall Street research teams have evaluated Sandisk’s outlook. JPMorgan Chase & Co. initiated coverage with a neutral stance and a $235 target, while Zacks Research upgraded the shares to a strong-buy grade. Benchmark reaffirmed its buy recommendation, and Citigroup raised its price objective from $150 to $280, maintaining a buy rating. Fox Advisors also elevated its view to strong-buy. Of the 22 analysts covering the stock, three rate it as a strong buy, twelve as a buy, six as a hold and one as a sell, yielding an average consensus of Moderate Buy and a $213.33 price target. These assessments reflect expectations that Sandisk will continue to outpace the broader memory market, underpinned by product diversification across SSDs, removable cards and embedded solutions.
3. Insider Transaction and Earnings Beat Reinforce Confidence
Director Necip Sayiner reduced his personal holding by selling 1,271 shares on December 3rd, generating proceeds of approximately $248,000, and now retains 3,479 shares worth about $679,000—equivalent to a 26.8% cut in his stake since the prior quarter. Meanwhile, Sandisk reported third-quarter results on November 6th, delivering earnings per share of $1.22 versus consensus of $0.58 and revenue of $2.31 billion against forecasts of $2.12 billion, marking a 22.6% year-over-year increase. Management set second-quarter guidance at $3.00 to $3.40 EPS, underlining confidence in continued margin expansion and robust demand across data-center and client storage applications.