WT Asset Management Ltd bought a new position in shares of Sandisk Corporation (NASDAQ:SNDK – Free Report) in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor bought 246,939 shares of the data storage provider’s stock, valued at approximately $561,473,000. Sandisk accounts for approximately 11.1% of WT Asset Management Ltd’s holdings, making the stock its biggest position. WT Asset Management Ltd owned approximately 0.17% of Sandisk as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Handelsbanken Fonder AB lifted its stake in Sandisk by 35.1% in the 2nd quarter. Handelsbanken Fonder AB now owns 57,564 shares of the data storage provider’s stock valued at $130,885,000 after buying an additional 14,964 shares in the last quarter. Allworth Financial LP increased its stake in Sandisk by 84.2% during the 4th quarter. Allworth Financial LP now owns 4,521 shares of the data storage provider’s stock worth $1,073,000 after buying an additional 2,067 shares in the last quarter. Tredje AP fonden acquired a new position in shares of Sandisk during the fourth quarter valued at approximately $7,821,000. ProShare Advisors LLC raised its holdings in shares of Sandisk by 1,301.5% during the fourth quarter. ProShare Advisors LLC now owns 33,637 shares of the data storage provider’s stock valued at $7,985,000 after acquiring an additional 31,237 shares during the last quarter. Finally, FourThought Financial Partners LLC purchased a new position in shares of Sandisk in the fourth quarter valued at approximately $422,000.
Key Headlines Impacting 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 Trading Up 8.9%
Sandisk (NASDAQ:SNDK – Get Free Report) last issued its earnings results on Wednesday, August 5th. The data storage provider reported $39.25 EPS for the quarter, topping analysts’ consensus estimates of $33.28 by $5.97. Sandisk had a net margin of 56.47% and a return on equity of 87.84%. The company had revenue of $8.96 billion for the quarter. During the same period last year, the firm earned $0.29 earnings per share. Sandisk’s revenue for the quarter was up 371.6% on a year-over-year basis. Sandisk has set its Q1 2027 guidance at 44.000-46.000 EPS. Equities research analysts predict that Sandisk Corporation will post 208.92 earnings per share for the current fiscal year.
Sandisk announced that its Board of Directors has initiated a share repurchase program on Wednesday, August 5th that allows the company to buyback $14.00 billion in shares. This buyback authorization allows the data storage provider to purchase up to 6.6% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s management believes its shares are undervalued.
Analysts Set New Price Targets
A number of brokerages have recently issued reports on SNDK. New Street Research set a $3,000.00 price target on Sandisk in a research note on Thursday, August 6th. Wedbush reissued an “outperform” rating and issued a $2,000.00 price objective on shares of Sandisk in a research note on Friday. Mizuho set a $1,900.00 target price on shares of Sandisk in a research note on Friday. Jefferies Financial Group reaffirmed a “buy” rating on shares of Sandisk in a report on Thursday, August 6th. Finally, Sanford C. Bernstein reiterated an “outperform” rating on shares of Sandisk in a research report on Thursday, August 6th. Three equities research analysts have rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $1,999.27.
View Our Latest Stock Analysis on SNDK
Insider Activity at Sandisk
In other Sandisk news, insider Bernard Shek sold 600 shares of the firm’s stock in a transaction on 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 completion of the sale, the insider owned 30,915 shares of the company’s stock, valued at $35,928,176.40. This trade represents a 1.90% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Alper Ilkbahar sold 2,000 shares of Sandisk stock in a transaction on 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 owned 52,677 shares in the company, valued at $92,531,364.66. This represents a 3.66% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 3,800 shares of company stock worth $6,504,856. Corporate insiders own 0.21% of the company’s stock.
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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