Sandisk stock up 54.6% in May on Q3 earnings surge

Sandisk stock rose 54.6% in May after reporting Q3 non-GAAP earnings of $23.41 per share on $5.95 billion in sales. Sales increased 251% year over year and gross margins reached 56.04%. Analysts raised price targets following the beat on expectations of $14.66 earnings and $4.7 billion sales. The stock declined in June amid market cooling and negative reaction to Broadcom's quarterly report.