Sandisk Posts $11B Quarter, Unveils 8-for-1 Split and $5B Buyback
SNDK has more than doubled off its 52-week low of $181.51.
Summary
Sandisk's fiscal Q1 2027 revenue came in at $11.03B, up 23% sequentially and roughly five times the year-ago $2.31B, with non-GAAP EPS of $49.51 and gross margin near 85.1%. Alongside the print the company announced an 8-for-1 stock split and $5B in buybacks, on top of the $14B program disclosed in the FY26 10-K. Q2 revenue is guided to $12.2B-$12.6B, extending the ramp. The growth is coming from enterprise SSD and AI storage demand while consumer sales stay soft and SK Hynix and YMTC competition builds. Cantor cut its price target into the print, a reminder that expectations were already high after the stock's run.
At the time of this announcement, SNDK was trading at $1,279.00 on NASDAQ in the Technology sector, with a market capitalization of approximately $192.2B. The 52-week trading range was $181.51 to $2,354.39. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: Wiseek News.