D L Carlson Investment Group Inc. acquired a new position in shares of Sandisk Corporation (NASDAQ:SNDK – Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,526 shares of the data storage provider’s stock, valued at approximately $3,470,000.
A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Osaic Holdings Inc. bought a new stake in Sandisk in the 2nd quarter valued at $317,000. Merit Financial Group LLC bought a new position in Sandisk during the 3rd quarter worth about $408,000. Dimensional Fund Advisors LP acquired a new stake in shares of Sandisk in the 3rd quarter valued at about $100,080,000. First Trust Advisors LP acquired a new stake in shares of Sandisk in the 3rd quarter valued at about $9,788,000. Finally, Blair William & Co. IL bought a new stake in shares of Sandisk in the third quarter valued at about $591,000.
Sandisk Stock Performance
NASDAQ:SNDK opened at $1,600.62 on Friday. Sandisk Corporation has a 52-week low of $43.56 and a 52-week high of $2,354.39. The company has a market cap of $234.36 billion, a P/E ratio of 21.96, a P/E/G ratio of 0.16 and a beta of 5.20. The stock’s 50-day simple moving average is $1,663.24 and its 200 day simple moving average is $1,217.48.
Sandisk declared that its board has authorized a stock repurchase program on Wednesday, August 5th that permits the company to buyback $14.00 billion in outstanding shares. This buyback authorization permits the data storage provider to purchase up to 6.6% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.
More Sandisk News
Here are the key news stories impacting Sandisk this week:
- Positive Sentiment: Wall Street is increasingly focused on SanDisk’s long-term earnings potential. Rising AI-generated data is expected to drive demand for high-capacity NAND storage, while the company’s contract-based sales strategy could make results and margins more predictable than in past memory cycles. SanDisk’s long-term financial outlook is turning heads on Wall Street
- Positive Sentiment: Several analyses argue that AI infrastructure demand could support substantially higher earnings and potentially enable margins near 80%, challenging the view that SanDisk remains solely a commodity memory producer. From Commodity to Cash Machine? SanDisk Targets 80% Margins in AI Storage Boom
- Positive Sentiment: Market commentary remains bullish on SanDisk’s upside earnings potential despite weakness across memory stocks, with the broader thesis that every additional byte created by AI requires a storage destination. SanDisk Thesis: Every Byte AI Creates Needs A Home
- Neutral Sentiment: Technical traders are watching for a rebound toward the mid-$1,600s, with resistance near $1,696.50 and support around $1,485. This suggests elevated volatility rather than a clear change in fundamentals. What’s Going On With SanDisk Stock Thursday?
- Neutral Sentiment: Investor opinion is divided after the stock’s extraordinary 12-month advance; some hedge funds remain optimistic, while others are reducing exposure or taking profits. SanDisk Is Up 3,911% Over Twelve Months
- Negative Sentiment: Shares faced pressure alongside Micron and other memory companies as an Asian technology selloff highlighted continuing sector volatility. Why Are Micron and SanDisk Stocks Falling Today
- Negative Sentiment: Investors are questioning the durability of SanDisk’s record revenue because roughly two-thirds reportedly came from pricing, leaving results vulnerable if NAND prices weaken. SanDisk drops before OCP Korea Tech Day
- Negative Sentiment: Appaloosa, managed by David Tepper, exited its entire 281,250-share SanDisk position during the quarter in which the stock reached its recent high, adding profit-taking and valuation concerns. David Tepper Sold His Entire Sandisk Stake
Wall Street Analyst Weigh In
SNDK has been the subject of several recent research reports. UBS Group reaffirmed an “overweight” rating and set a $1,750.00 price objective on shares of Sandisk in a research report on Friday, August 14th. Argus raised Sandisk from a “hold” rating to a “buy” rating in a research report on Monday, August 10th. The Goldman Sachs Group restated a “buy” rating and issued a $2,200.00 target price on shares of Sandisk in a research note on Thursday, August 13th. Citigroup reduced their price target on Sandisk from $2,500.00 to $2,100.00 and set a “buy” rating for the company in a research report on Thursday, August 6th. Finally, Raymond James Financial reaffirmed an “outperform” rating and set a $1,470.00 price target on shares of Sandisk in a research note on Friday, May 1st. 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 company. Based on data from MarketBeat, Sandisk currently has an average rating of “Buy” and an average target price of $1,999.27.
Read Our Latest Research Report on SNDK
Insider Buying and Selling
In other news, insider Bernard Shek sold 600 shares of the 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 completion of the sale, the insider owned 30,915 shares of the company’s stock, valued at approximately $35,928,176.40. This represents a 1.90% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed 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 the firm’s stock in a transaction on Monday, June 1st. The shares were sold at an average price of $1,756.58, for a total transaction 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 $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. In the last quarter, insiders have sold 3,800 shares of company stock worth $6,504,856. Company insiders own 0.21% of the company’s stock.
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.
Read More
- Five stocks we like better than Sandisk
- 3 Energy Stocks Raising Dividends as the Sector Surges
- 5 Reasons the S&P 500 Could Keep Rallying Through Year-End
- Walmart’s Post-Earnings Drop Could Be a Buying Opportunity
- The Trade Desk’s Earnings Miss Raises a Bigger Question About Its AI Future
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.
