E20 Capital Ltd cut its stake in Sandisk Corporation (NASDAQ:SNDK – Free Report) by 28.5% in the first quarter, HoldingsChannel reports. The institutional investor owned 127,645 shares of the data storage provider’s stock after selling 50,963 shares during the quarter. Sandisk makes up about 7.6% of E20 Capital Ltd’s holdings, making the stock its 5th biggest holding. E20 Capital Ltd’s holdings in Sandisk were worth $81,098,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors have also modified their holdings of the stock. Valley Wealth Managers Inc. bought a new stake in Sandisk in the first quarter valued at $25,000. IMG Wealth Management Inc. bought a new position in shares of Sandisk during the first quarter valued at $29,000. Cedar Mountain Advisors LLC lifted its holdings in shares of Sandisk by 2,750.0% during the first quarter. Cedar Mountain Advisors LLC now owns 57 shares of the data storage provider’s stock valued at $36,000 after acquiring an additional 55 shares during the period. Roble Belko & Company Inc acquired a new stake in shares of Sandisk in the 1st quarter valued at $39,000. Finally, Himension Capital Singapore PTE. LTD. acquired a new stake in shares of Sandisk in the 1st quarter valued at $43,000.
Insider Transactions at Sandisk
In other Sandisk news, CAO Michael Pokorny sold 2,446 shares of the business’s stock in a transaction dated Tuesday, May 12th. The stock was sold at an average price of $1,426.18, for a total transaction of $3,488,436.28. Following the completion of the sale, the chief accounting officer directly owned 22,375 shares of the company’s stock, valued at approximately $31,910,777.50. The trade was a 9.85% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Alper Ilkbahar sold 2,000 shares of the business’s stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $1,756.58, for a total value of $3,513,160.00. Following the sale, the executive vice president directly owned 52,677 shares of the company’s stock, valued at $92,531,364.66. This represents a 3.66% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 6,225 shares of company stock worth $10,166,297. 0.21% of the stock is owned by insiders.
Key Stories Impacting Sandisk
- Positive Sentiment: AI spending optimism returned. Microsoft’s commitment to approximately $190 billion in capital expenditures helped ease concerns that cloud and AI infrastructure investment was slowing. The news lifted expectations for demand for data-center storage and memory products, including SanDisk’s enterprise NAND solutions. Microsoft Committed $190B CapEx and Pulled SanDisk Out of Their Slump
- Positive Sentiment: Memory-sector supply conditions appeared more favorable. Samsung Electronics reported a significant increase in chip profit and signed multiyear supply agreements with data-center operators, while warning that chip shortages could persist through 2028. That supported a broader rebound in memory stocks and reinforced the potential for stronger pricing. Why Micron, SanDisk, SK Hynix and Other Memory Stocks Are Roaring Back
- Positive Sentiment: Investors are positioning ahead of fiscal fourth-quarter earnings on August 5. Analysts cited the possibility of another earnings beat, with consensus estimates calling for roughly $33.38 per share in EPS. SanDisk has reportedly exceeded earnings and revenue expectations for five consecutive quarters, while long-term contracts and approximately $42 billion in commitments support visibility into future demand. SanDisk Stock Is Gaining Thursday: What’s Going On?
- Neutral Sentiment: The rebound follows an extreme decline. SNDK had fallen roughly 57% from its peak and was considered deeply oversold, encouraging technical traders and investors seeking a recovery. However, the stock’s exceptionally high beta indicates that price swings may remain substantial. Is SanDisk Stock Crash Over?
- Negative Sentiment: Risks remain significant. Morningstar reportedly sees the AI boom as potentially finite before a possible downturn, while investors continue to worry about Chinese competition, another NAND oversupply cycle and the stock’s elevated valuation. Earnings guidance and management’s outlook will be critical to determining whether the rebound can continue. SanDisk Falls 54%: Morningstar Sees Finite AI Boom
Sandisk Stock Performance
NASDAQ:SNDK opened at $1,279.96 on Friday. The company has a market cap of $189.55 billion, a price-to-earnings ratio of 44.49 and a beta of 4.74. The stock’s fifty day moving average price is $1,734.42 and its two-hundred day moving average price is $1,115.89. Sandisk Corporation has a 52-week low of $40.10 and a 52-week high of $2,354.39.
Sandisk (NASDAQ:SNDK – Get Free Report) last released its earnings results on Thursday, April 30th. The data storage provider reported $23.41 EPS for the quarter, beating the consensus estimate of $14.17 by $9.24. The company had revenue of $5.95 billion during the quarter. Sandisk had a return on equity of 44.06% and a net margin of 34.19%.The firm’s quarterly revenue was up 251.0% on a year-over-year basis. During the same period last year, the business posted ($0.30) earnings per share. On average, equities analysts predict that Sandisk Corporation will post 64.52 EPS for the current fiscal year.
Analyst Upgrades and Downgrades
Several research firms have recently weighed in on SNDK. Evercore set a $3,100.00 target price on shares of Sandisk in a report on Monday, July 13th. Mizuho lifted their price target on shares of Sandisk from $1,825.00 to $2,200.00 and gave the company an “outperform” rating in a report on Monday, June 8th. UBS Group set a $1,700.00 price target on shares of Sandisk in a research report on Monday, May 4th. Raymond James Financial reaffirmed an “outperform” rating and set a $1,470.00 price objective on shares of Sandisk in a research note on Friday, May 1st. Finally, Wells Fargo & Company raised 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 report on Wednesday, July 22nd. Two investment analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $1,811.38.
Get Our Latest Analysis on Sandisk
Sandisk 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.
Featured Articles
- Five stocks we like better than Sandisk
- Microsoft Just Flipped the AI Spending Narrative Overnight
- Qualcomm’s Turnaround Is Working, So Why Is Wall Street Selling?
- Meta’s Earnings Show Why Wall Street Is Losing Patience With AI Spending
- Can Starbucks Keep This Turnaround Going? The Latest Results Say Yes
Want to see what other hedge funds are holding SNDK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Sandisk Corporation (NASDAQ:SNDK – Free Report).
Receive News & Ratings for Sandisk Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Sandisk and related companies with MarketBeat.com's FREE daily email newsletter.
