Sandisk Corporation has announced plans for a secondary public offering. The data storage company will open up 5,821,135 common stock shares (Nasdaq:SNDK) at $545 a pop. The shares are currently owned by Western Digital Corporation (WDC), Sandisk's former parent company. Sandisk separated from WDC nearly a year ago to the date, and subsequently joined the S&P 500 in November. Now, WDC is furthering that split.
Stock prices jump as demand continues Shares in several memory chip makers traded on U.S. markets are currently up in premarket trading this morning. The companies include Micron and Sandisk, as well as Western Digital Corporation (Nasdaq: WDC) and Seagate Technology Holdings (Nasdaq: STX). As of this writing, Micron shares are currently up 2.9%, Sandisk shares are up 6.2%, Western Digital shares are up 3%, and Seagate shares are up 2.5%.
Revenue reached $3.03 billion, up 31% sequentially and 61% year-over-year from $1.88 billion. Non-GAAP earnings hit $6.20 per share, significantly beating the consensus estimates. GAAP net income soared to $803 million, a 672% increase from $104 million a year ago; gross margins expanded to 51.1%, reflecting higher pricing and a favorable product mix; and free cash flow jumped over 1,000% year-over-year.
In 2025, the three biggest stock gainers in the S&P 500 were Micron ( NASDAQ:MU) with around 250%, Western Digital ( NASDAQ:WDC) with almost 300%, and Sandisk ( NASDAQ:SNDK) with nearly 600%. To be more precise, SNDK stock gained approximately 580% last year, which is astounding no matter how you slice it. And in case you didn't see the connection, the three top performers are all involved in the market for memory-storage hardware.
