Lombard Odier Asset Management Europe Ltd purchased a new position in shares of Sandisk Corporation (NASDAQ:SNDK – Free Report) in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 1,318 shares of the data storage provider’s stock, valued at approximately $2,997,000.
A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Osaic Holdings Inc. acquired a new stake in shares of Sandisk in the second quarter valued at about $317,000. Merit Financial Group LLC acquired a new stake in shares of Sandisk in the third quarter worth $408,000. Dimensional Fund Advisors LP bought a new position in Sandisk during the third quarter worth $100,080,000. First Trust Advisors LP bought a new position in Sandisk during the third quarter worth $9,788,000. Finally, Blair William & Co. IL acquired a new position in Sandisk during the 3rd quarter valued at $591,000.
Sandisk Price Performance
SNDK opened at $1,484.98 on Friday. The firm has a 50 day simple moving average of $1,595.87 and a 200 day simple moving average of $1,250.36. The company has a market cap of $217.43 billion, a price-to-earnings ratio of 20.37, a price-to-earnings-growth ratio of 0.15 and a beta of 5.20. Sandisk Corporation has a fifty-two week low of $50.07 and a fifty-two week high of $2,354.39.
Sandisk declared that its board has authorized a stock buyback plan on Wednesday, August 5th that allows the company to buyback $14.00 billion in outstanding shares. This buyback authorization allows the data storage provider to reacquire up to 6.6% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.
More Sandisk News
Here are the key news stories impacting Sandisk this week:
- Positive Sentiment: Major Japan investment supports long-term growth: Sandisk and Kioxia plan to invest more than $31 billion in Japan through 2032, subject to government support, to expand flash-memory production. The spending is intended to address tight supply caused by accelerating AI and data-center demand, while strengthening Sandisk’s long-standing joint venture with Kioxia. Kioxia and Sandisk to Invest Over $31 Billion in Japan
- Positive Sentiment: AI demand remains a powerful industry tailwind: Nvidia’s strong quarterly results and outlook reinforced expectations for sustained spending on AI infrastructure, potentially lifting demand for Sandisk’s NAND flash and enterprise solid-state drives. Analysts also point to pricing strength, constrained supply and multiyear agreements as drivers of near-term growth. Memory and Storage Giants to Gain Amid Nvidia’s Results
- Positive Sentiment: Recent operating performance provides support: Sandisk’s latest quarterly results exceeded expectations, with earnings per share of $39.25 versus the $33.28 consensus and revenue up 371.6% year over year. Its guidance for fiscal 2027 also reflects continued confidence in demand.
- Neutral Sentiment: Long-term opportunity is substantial but execution-dependent: Comparisons with Nvidia’s earlier AI-driven growth phase highlight Sandisk’s data-center potential, but the stock has already gained dramatically, increasing sensitivity to earnings expectations and future supply-demand conditions. Has Sandisk Already Had Its Nvidia Moment?
- Negative Sentiment: Profit-taking is weighing on memory stocks: Investors have been locking in gains after the sector’s sharp rally, causing Sandisk and peers to move lower even after Nvidia’s favorable report. Why Is Sandisk Stock Up on Friday?
- Negative Sentiment: Valuation and policy risks remain concerns: Analysts have flagged the elevated valuation following Sandisk’s extraordinary run, while possible U.S. trade or export-policy changes could create uncertainty for semiconductor suppliers. Mizuho has also lowered its expectations for the stock. Why Memory Stocks Are Sliding
Insiders Place Their Bets
In other Sandisk news, insider Bernard Shek sold 600 shares of Sandisk stock in a transaction dated Monday, August 3rd. The stock was sold at an average price of $1,162.16, for a total transaction of $697,296.00. Following the transaction, the insider directly owned 30,915 shares in the company, valued at approximately $35,928,176.40. The trade was a 1.90% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Alper Ilkbahar sold 2,000 shares of the business’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 transaction, the executive vice president directly owned 52,677 shares of the company’s stock, valued at approximately $92,531,364.66. The trade was a 3.66% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 3,800 shares of company stock worth $6,504,856. Insiders own 0.21% of the company’s stock.
Analyst Upgrades and Downgrades
Several equities analysts have commented on the company. UBS Group reaffirmed an “overweight” rating and issued a $1,750.00 price target on shares of Sandisk in a report on Friday, August 14th. Sanford C. Bernstein restated an “outperform” rating on shares of Sandisk in a research report on Thursday, August 6th. Jefferies Financial Group reissued a “buy” rating on shares of Sandisk in a research note on Thursday, August 6th. Raymond James Financial restated an “outperform” rating and set a $1,470.00 target price on shares of Sandisk in a report on Friday, May 1st. Finally, Melius Research set a $2,350.00 target price on Sandisk in a research note on Monday, May 18th. Three equities research analysts have rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Sandisk presently has an average rating of “Buy” and an average target price of $1,998.14.
View Our Latest Report on SNDK
About Sandisk
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 Stories
- Five stocks we like better than Sandisk
- 3 Financial Stocks Positioned for the Fed’s Next Move After Jackson Hole
- IREN’s AI Pivot Looks Real, But the Market Wanted a Faster Payoff After Earnings
- Boeing’s $131B F-15 Win: Mach 1 Momentum or Just Altitude?
- Okta Stock Surges 29%—Is $200 the Next Stop?
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.
