Meeder Asset Management Inc. acquired a new stake in shares of Sandisk Corporation (NASDAQ:SNDK – Free Report) during the 2nd quarter, Holdings Channel reports. The fund acquired 4,024 shares of the data storage provider’s stock, valued at approximately $9,149,000.
Several other institutional investors also recently bought and sold shares of SNDK. Osaic Holdings Inc. bought a new stake in Sandisk during the 2nd quarter valued at about $317,000. Merit Financial Group LLC purchased a new position in Sandisk in the third quarter worth about $408,000. Dimensional Fund Advisors LP bought a new position in shares of Sandisk in the third quarter worth approximately $100,080,000. First Trust Advisors LP bought a new position in shares of Sandisk in the third quarter worth approximately $9,788,000. Finally, Blair William & Co. IL purchased a new stake in shares of Sandisk during the third quarter valued at approximately $591,000.
Insider Buying and Selling at Sandisk
In related news, EVP Alper Ilkbahar sold 2,000 shares of Sandisk stock in a transaction on 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 completion of the sale, the executive vice president owned 52,677 shares of the company’s stock, valued at $92,531,364.66. The trade was a 3.66% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Bernard Shek sold 600 shares of the company’s stock in a transaction on Monday, August 3rd. The shares were sold at an average price of $1,162.16, for a total value of $697,296.00. Following the sale, the insider owned 30,915 shares of the company’s stock, valued at approximately $35,928,176.40. This trade represents a 1.90% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 3,800 shares of company stock valued at $6,504,856 in the last ninety days. 0.21% of the stock is currently owned by corporate insiders.
Analysts Set New Price Targets
View Our Latest Analysis on Sandisk
Sandisk Trading Up 8.9%
NASDAQ:SNDK opened at $1,786.85 on Tuesday. Sandisk Corporation has a 12 month low of $43.20 and a 12 month high of $2,354.39. The company has a market cap of $264.61 billion, a PE ratio of 24.51, a price-to-earnings-growth ratio of 0.16 and a beta of 5.21. The company has a 50 day simple moving average of $1,670.76 and a two-hundred day simple moving average of $1,195.28.
Sandisk (NASDAQ:SNDK – Get Free Report) last announced its earnings results on Wednesday, August 5th. The data storage provider reported $39.25 earnings per share for the quarter, beating analysts’ consensus estimates of $33.28 by $5.97. The business had revenue of $8.96 billion during the quarter. Sandisk had a net margin of 56.47% and a return on equity of 87.84%. Sandisk’s quarterly revenue was up 371.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.29 earnings per share. Sandisk has set its Q1 2027 guidance at 44.000-46.000 EPS. Research analysts forecast that Sandisk Corporation will post 208.92 earnings per share for the current year.
Sandisk announced that its board has approved a stock buyback plan on Wednesday, August 5th that allows the company to buyback $14.00 billion in shares. This buyback authorization allows the data storage provider to buy up to 6.6% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s leadership believes its shares are undervalued.
Trending Headlines about Sandisk
Here are the key news stories impacting Sandisk this week:
- Positive Sentiment: Investor Day highlighted substantial future demand. SanDisk reported a $93.9 billion customer backlog and outlined projections for strong revenue growth through 2030. Management also indicated that long-term contracts provide multiyear volume and pricing visibility, helping support the view that AI-driven storage demand could be more durable than prior memory cycles. SanDisk’s Analyst Day Just Strengthened Micron’s $1,550 Bull Case
- Positive Sentiment: AI memory demand fueled a sector-wide rally. Comments from Elon Musk about the growing memory and storage requirements of agentic AI, along with reports that Washington is encouraging Apple to move away from Chinese DRAM suppliers, boosted SanDisk and other memory-chip companies. The potential shift toward U.S. suppliers strengthened the near-term industry narrative. Elon Musk Just Uttered 3 Massively Bullish Words for Micron, Sandisk, and SK Hynix
- Positive Sentiment: Analysts continued to endorse the outlook. Bernstein described SanDisk’s high-bandwidth flash as potentially a “game changer” for AI, while Wedbush reiterated its Outperform rating and JPMorgan initiated coverage. Investors were also encouraged by management’s plans to significantly increase capital returns to shareholders. Bernstein Analyst Calls SanDisk’s High Bandwidth Flash a Game Changer for AI
- Neutral Sentiment: Hedge-fund positioning was mixed. Appaloosa Management sold its SanDisk position in the second quarter while reallocating toward larger AI companies. The move may signal profit-taking after the stock’s dramatic year-to-date rally, but it does not necessarily challenge SanDisk’s operating fundamentals. David Tepper Cuts Micron Stake, Exits SanDisk
- Negative Sentiment: Valuation and margin durability remain concerns. Critics argue that the current valuation assumes unusually strong pricing and margins will persist, despite much of recent growth being price-driven rather than volume-driven. A normalization in flash-memory pricing, stronger yen, or weaker AI spending could create significant downside. SanDisk: Every Bounce Looks Like a Trap
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.
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