Meiji Yasuda Asset Management Co Ltd. purchased a new stake in Sandisk Corporation (NASDAQ:SNDK – Free Report) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 4,273 shares of the data storage provider’s stock, valued at approximately $9,716,000.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in SNDK. BlackRock Inc. acquired a new position in Sandisk in the second quarter valued at approximately $23,408,732,000. State Street Corp lifted its stake in shares of Sandisk by 20.7% in the 4th quarter. State Street Corp now owns 5,281,522 shares of the data storage provider’s stock valued at $1,253,728,000 after purchasing an additional 904,933 shares during the period. Geode Capital Management LLC boosted its position in shares of Sandisk by 44.9% in the 4th quarter. Geode Capital Management LLC now owns 3,655,860 shares of the data storage provider’s stock worth $866,310,000 after purchasing an additional 1,133,276 shares during the last quarter. Arrowstreet Capital Limited Partnership grew its stake in shares of Sandisk by 31.3% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 3,478,002 shares of the data storage provider’s stock worth $825,608,000 after purchasing an additional 828,332 shares during the period. Finally, Morgan Stanley increased its holdings in Sandisk by 7.2% in the fourth quarter. Morgan Stanley now owns 2,970,361 shares of the data storage provider’s stock valued at $705,105,000 after purchasing an additional 199,545 shares during the last quarter.
Sandisk Stock Performance
Shares of NASDAQ SNDK opened at $1,596.08 on Monday. The stock has a market capitalization of $233.70 billion, a PE ratio of 21.89, a price-to-earnings-growth ratio of 0.16 and a beta of 5.21. Sandisk Corporation has a 52 week low of $45.63 and a 52 week high of $2,354.39. The stock has a 50 day moving average price of $1,655.56 and a 200 day moving average price of $1,224.03.
Sandisk declared that its board has initiated a stock repurchase plan on Wednesday, August 5th that permits the company to repurchase $14.00 billion in outstanding shares. This repurchase authorization permits the data storage provider to buy up to 6.6% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s leadership believes its shares are undervalued.
Wall Street Analysts Forecast Growth
SNDK has been the subject of several analyst reports. Jefferies Financial Group restated a “buy” rating on shares of Sandisk in a research report on Thursday, August 6th. Raymond James Financial reiterated an “outperform” rating and issued a $1,470.00 target price on shares of Sandisk in a report on Friday, May 1st. Barclays raised shares of Sandisk from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $1,200.00 to $2,300.00 in a report on Tuesday, May 26th. Argus upgraded Sandisk from a “hold” rating to a “buy” rating in a report on Monday, August 10th. Finally, Melius Research set a $2,350.00 price target on Sandisk in a report on Monday, May 18th. Three equities research analysts have rated the stock with a Strong Buy rating, twenty have given a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $1,999.27.
Get Our Latest Analysis on Sandisk
Key Stories Impacting Sandisk
Here are the key news stories impacting Sandisk this week:
- Positive Sentiment: Sandisk introduced new SATA and NVMe solid-state drives for high-performance network-attached storage (NAS), targeting prosumers, small businesses and private-cloud users. The expansion could diversify demand beyond hyperscale customers and strengthen its competitive position against Micron and Seagate. Can Sandisk’s NAS Expansion Help It Challenge MU & STX?
- Positive Sentiment: Some analysts and market commentators remain bullish on Sandisk’s long-term earnings potential, arguing that accelerating artificial-intelligence data creation should increase demand for storage. One published view cited a potential $3,000 price target, although such targets are highly dependent on continued memory-market strength. SanDisk Stock Trades at $1,600 with Analysts Eyeing $3,000 Target
- Neutral Sentiment: Technical analysts expect substantial volatility in AI-memory stocks in the coming weeks but remain constructive over the longer term. This supports the bullish thesis while warning investors that sharp swings and options-related risks may continue. Danielle Shay on MU, SNDK & STX Technical Analysis, Options Strategies
- Neutral Sentiment: Sandisk’s latest quarterly results were exceptionally strong, with revenue up 371.6% year over year and earnings exceeding consensus estimates. However, the stock’s very large rally has raised expectations, making future results and guidance increasingly important to valuation.
- Negative Sentiment: Bearish commentary argues that Sandisk’s valuation may be pricing in an unusually favorable memory cycle and could underestimate the industry’s historical cyclicality. Any slowdown in pricing, demand or margins could therefore trigger a significant correction. Sandisk: Bulls Are Misjudging Its Valuation And Cyclicality
- Negative Sentiment: Investors are also concerned that increased Chinese competition or supply pressure could undermine Sandisk’s pricing power and disrupt its parabolic rally. The new NAS products were not enough to offset those broader concerns during Friday’s session. SanDisk Stock Has Gone Parabolic. How China Could End the Party
Insider Transactions at Sandisk
In related news, EVP Alper Ilkbahar sold 2,000 shares of the firm’s stock in a transaction dated Monday, June 1st. The shares were 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 directly owned 52,677 shares in the company, valued at approximately $92,531,364.66. This trade represents a 3.66% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Bernard Shek sold 600 shares of the business’s stock in a transaction that occurred on Monday, August 3rd. The stock was sold at an average price of $1,162.16, for a total value of $697,296.00. Following the transaction, the insider directly owned 30,915 shares in the company, valued at $35,928,176.40. The trade was a 1.90% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 3,800 shares of company stock worth $6,504,856. 0.21% of the stock is owned by insiders.
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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