Lazard Asset Management LLC boosted its position in Sandisk Corporation (NASDAQ:SNDK – Free Report) by 3.1% during the 1st quarter, Holdings Channel.com reports. The institutional investor owned 16,917 shares of the data storage provider’s stock after purchasing an additional 511 shares during the period. Lazard Asset Management LLC’s holdings in Sandisk were worth $10,748,000 at the end of the most recent quarter.
A number of other large investors have also recently bought and sold shares of the business. Valley Wealth Managers Inc. acquired a new stake in Sandisk during the first quarter worth approximately $25,000. Whittier Trust Co. acquired a new position in Sandisk in the fourth quarter valued at approximately $26,000. Greenline Wealth Management LLC bought a new position in shares of Sandisk during the 4th quarter worth approximately $26,000. Chung Wu Investment Group LLC bought a new position in shares of Sandisk during the 4th quarter worth approximately $27,000. Finally, Westfuller Advisors LLC grew its position in shares of Sandisk by 51.8% during the 4th quarter. Westfuller Advisors LLC now owns 126 shares of the data storage provider’s stock worth $30,000 after buying an additional 43 shares during the period.
Insider Activity
In other Sandisk news, EVP Alper Ilkbahar sold 2,000 shares of Sandisk stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $1,756.58, for a total transaction of $3,513,160.00. Following the transaction, the executive vice president owned 52,677 shares of the company’s stock, valued at $92,531,364.66. This trade represents a 3.66% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Necip Sayiner sold 579 shares of the business’s stock in a transaction that occurred on Friday, May 8th. The shares were sold at an average price of $1,503.11, for a total transaction of $870,300.69. Following the completion of the sale, the director directly owned 2,900 shares in the company, valued at approximately $4,359,019. This trade represents a 16.64% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 6,225 shares of company stock worth $10,166,297. Corporate insiders own 0.21% of the company’s stock.
Sandisk News Roundup
- Positive Sentiment: Some analysts view the selloff as a potential buying opportunity. Sandisk’s outlook is supported by strong AI-driven storage demand, approximately $42 billion in contracts and a debt-free balance sheet. Analysts’ consensus target of about $2,218 implies substantial long-term upside from recent levels. Does Sandisk Stock’s Recent Sharp Sell-Off Offer a Buying Opportunity?
- Positive Sentiment: Expectations remain favorable ahead of Sandisk’s fiscal fourth-quarter earnings report, scheduled for August 5. Recent analyst commentary points to potentially strong earnings growth, while the company’s prior quarter significantly exceeded consensus expectations on both earnings and revenue. What SK Hynix and Seagate Earnings Mean for SanDisk
- Neutral Sentiment: Sandisk’s collapse has made inverse exposure unusually popular: the SNDQ ETF, which benefits when the stock falls, has surged more than 175% in July. This highlights the intensity of the move but does not change Sandisk’s underlying fundamentals. SanDisk’s Plunge Has Produced One of July’s Hottest ETF Trades
- Negative Sentiment: Memory stocks, including Sandisk, Micron and SK Hynix, are experiencing a sector-wide rout as investors question whether AI demand and valuations have become overheated. Sandisk has lost roughly half its value in July, increasing volatility and technical selling pressure. Memory Selloff Intensifies
- Negative Sentiment: Investors are also concerned about rising Chinese competition, including chipmaker CXMT’s planned IPO, and the possibility that increased supply could pressure future memory pricing and margins. Broader market risk aversion ahead of the Federal Reserve decision and a sharp oil-price spike added to selling in technology shares. Is the AI Chip Trade Actually Cracking?
Sandisk Price Performance
Shares of SNDK stock opened at $1,015.89 on Thursday. The firm has a 50-day moving average of $1,739.66 and a 200-day moving average of $1,109.53. Sandisk Corporation has a one year low of $40.10 and a one year high of $2,354.39. The company has a market cap of $150.44 billion, a P/E ratio of 35.31 and a beta of 4.74.
Sandisk (NASDAQ:SNDK – Get Free Report) last released its quarterly earnings results on Thursday, April 30th. The data storage provider reported $23.41 earnings per share for the quarter, topping the consensus estimate of $14.17 by $9.24. Sandisk had a net margin of 34.19% and a return on equity of 44.06%. The business had revenue of $5.95 billion for the quarter. During the same quarter last year, the firm posted ($0.30) earnings per share. The firm’s revenue for the quarter was up 251.0% compared to the same quarter last year. As a group, research analysts expect that Sandisk Corporation will post 64.52 earnings per share for the current fiscal year.
Analyst Upgrades and Downgrades
SNDK has been the subject of a number of research reports. UBS Group set a $1,700.00 price target on shares of Sandisk in a report on Monday, May 4th. Wells Fargo & Company increased their price objective on shares of Sandisk from $1,250.00 to $1,620.00 and gave the stock an “equal weight” rating in a research report on Wednesday, July 22nd. Susquehanna reduced their target price on Sandisk from $3,250.00 to $3,050.00 and set a “positive” rating for the company in a research note on Thursday, July 23rd. Morgan Stanley boosted their target price on Sandisk from $1,100.00 to $1,750.00 and gave the company an “overweight” rating in a research report on Wednesday, June 3rd. Finally, Barclays raised Sandisk from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $1,200.00 to $2,300.00 in a research note on Tuesday, May 26th. Two equities research analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and six have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $1,811.38.
Read Our Latest Report on SNDK
Sandisk Company Profile
SanDisk Corporation offers flash storage solutions. The Company designs, develops and manufactures data storage solutions in a range of form factors using flash memory, controller, firmware and software technologies. The Company operates through flash memory storage products segment. Its solutions include a range of solid state drives (SSD), embedded products, removable cards, universal serial bus (USB), drives, wireless media drives, digital media players, and wafers and components. It offers SSDs for client computing applications, which encompass desktop computers, notebook computers, tablets and other computing devices.
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