SanDisk Corp Stock Price, News & Analysis

Sandisk (SNDK) has announced the pricing of an upsized secondary public offering of 18,534,581 shares of common stock at $38.50 per share, increased from the originally proposed 17,000,000 shares. The shares are currently owned by Western Digital Corporation (WDC), Sandisk's former parent company. WDC will exchange these shares with J.P. Morgan Securities LLC and BofA Securities affiliates for certain WDC debt. The underwriters have a 13-day greenshoe option to purchase up to 2,780,187 additional shares. If the greenshoe is fully exercised, WDC would retain 7,513,019 SNDK shares. Sandisk will not receive any proceeds from the offering. The offering is expected to close on June 9, 2025, with J.P. Morgan Securities LLC and BofA Securities acting as joint lead book-runners.

Sandisk announced a secondary public offering of 17 million shares of common stock owned by Western Digital Corporation (WDC), its former parent company. The offering includes a greenshoe option for underwriters to purchase up to 2.55 million additional shares. Prior to the offering, WDC will exchange these shares through a debt-for-equity exchange with affiliates of J.P. Morgan Securities LLC and BofA Securities, who will act as selling stockholders. Sandisk will not receive any proceeds from the sale or debt-for-equity exchange. After the exchange and if the greenshoe option is fully exercised, WDC would retain ownership of 9,277,787 SNDK shares. J.P. Morgan Securities LLC and BofA Securities are serving as joint lead book-runners for the offering.

Sandisk (SNDK) reported its fiscal Q3 2025 financial results with revenue of $1.70 billion, down 10% sequentially but above guidance. The company posted a significant GAAP loss of $1.93 billion ($13.33 per share), largely due to a $1.83 billion goodwill impairment charge. Non-GAAP loss was $0.30 per share. By segment, Cloud revenue grew 103% YoY to $197M, while Client revenue declined 10% to $927M, and Consumer remained flat at $571M. For Q4 2025, Sandisk projects revenue between $1.75-1.85 billion with Non-GAAP EPS ranging from ($0.10) to $0.15. CEO David Goeckeler highlighted strong execution in their first quarter as a standalone company, successful BiCS 8 technology ramp-up, and strategic actions including supply reduction and price increases to maximize returns.

Sandisk Corporation (NASDAQ: SNDK) has announced its upcoming participation in the 53rd Annual J.P. Morgan Global Technology, Media and Communications Conference. The management presentation is scheduled for Tuesday, May 13, at 2:10 p.m. PT / 5:10 p.m. ET. Investors and interested parties can access the live webcast through Sandisk's Investor Relations website at investor.sandisk.com. An archived version of the presentation will be made available on the same website after the event concludes.

Sandisk (NASDAQ: SNDK) has scheduled its fiscal third quarter earnings conference call for Wednesday, May 7, 2025, at 1:30 p.m. Pacific time. The company will provide a live webcast of the conference call, with a replay available afterward through their investor relations website at investor.sandisk.com.

Sandisk (NASDAQ: SNDK) has announced its participation in two major upcoming investor conferences in March 2025. The company will present at the Morgan Stanley Technology, Media & Telecom Conference on March 3, 2025, at 12:20 p.m. PT, and the Cantor Global Technology Conference on March 11, 2025, at 5:40 a.m. PT.

Both management presentations will be accessible through live webcasts via Sandisk's Investor Relations website at investor.sandisk.com, with archived replays available after the events. Sandisk, known for its innovative Flash solutions and advanced memory technologies, maintains a strong social media presence across Instagram, Facebook, X, LinkedIn, and Youtube platforms.

Sandisk has officially completed its separation from Western Digital and commenced trading on the Nasdaq Stock Market under the ticker symbol 'SNDK'. The company's leadership team, including long-time employees and Board members, will commemorate this milestone by ringing the Nasdaq closing bell.

CEO David Goeckeler expressed enthusiasm about Sandisk's new chapter as an independent public company, emphasizing the company's focus on NAND technology innovation and its potential to expand in strong, growing markets. The company aims to leverage its established expertise in memory and storage semiconductor technology to drive long-term growth.

As a standalone entity, Sandisk is positioning itself to shape the digital landscape, particularly in addressing AI opportunities while developing its consumer and enterprise portfolios. The company's strategy builds on its understanding of data consumption patterns and its commitment to innovative storage solutions.