Western Digital Corporation announced selling down its remaining equity stake in SanDisk Corporation in a multi-billion-dollar secondary offering. The transaction prices roughly 5.8 million shares at around $545 each for about $3.17 billion, aiming to accelerate deleveraging and focus on core hard-disk drive business. Since SanDisk’s independence in 2025, shares have soared more than 1000% due to booming NAND flash demand. SanDisk’s stock hit a high of $725 on Feb. 3, with total returns since IPO at 1,223%, but dipped 5.7% following Western Digital’s share sale. Steady financial performance includes second-quarter fiscal 2026 revenue of nearly $3 billion, exceeding expectations, with strong guidance for the third quarter. Analysts forecast EPS of $22.96 for fiscal 2026 and a 95.5% rise to $44.88 in 2027. Bernstein SocGen Group raised its price target on SanDisk to $1,000, while Cantor Fitzgerald raised it to $800, both maintaining positive ratings. SNDK has a consensus “Moderate Buy” rating, with an average analyst price target of $700.94 indicating an upside of 5.2%.

Read more at Barchart: Western Digital Is Selling Sandisk Stock. Should You?