Vega Investment Solutions acquired a new stake in Sandisk Corporation (NASDAQ:SNDK – Free Report) during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 4,495 shares of the data storage provider’s stock, valued at approximately $9,483,000. Sandisk comprises approximately 1.3% of Vega Investment Solutions’ investment portfolio, making the stock its 24th largest holding.
A number of other institutional investors have also made changes to their positions in the business. Dogwood Wealth Management LLC grew its position in Sandisk by 14.3% in the second quarter. Dogwood Wealth Management LLC now owns 48 shares of the data storage provider’s stock valued at $109,000 after purchasing an additional 6 shares in the last quarter. Castle Rock Wealth Management LLC lifted its position in Sandisk by 2.4% during the 2nd quarter. Castle Rock Wealth Management LLC now owns 426 shares of the data storage provider’s stock worth $969,000 after buying an additional 10 shares in the last quarter. Legacy Wealth Asset Management LLC lifted its position in Sandisk by 1.6% during the 2nd quarter. Legacy Wealth Asset Management LLC now owns 772 shares of the data storage provider’s stock worth $1,755,000 after buying an additional 12 shares in the last quarter. GHP Investment Advisors Inc. boosted its stake in shares of Sandisk by 12.0% during the 1st quarter. GHP Investment Advisors Inc. now owns 121 shares of the data storage provider’s stock worth $77,000 after buying an additional 13 shares during the last quarter. Finally, Versant Capital Management Inc boosted its stake in shares of Sandisk by 2.5% during the 2nd quarter. Versant Capital Management Inc now owns 527 shares of the data storage provider’s stock worth $1,198,000 after buying an additional 13 shares during the last quarter.
Key Headlines Impacting Sandisk
Here are the key news stories impacting Sandisk this week:
- Positive Sentiment: AI-driven demand remains a major growth catalyst. Surging data-center revenue, multi-year contracts and improving revenue visibility have helped support Sandisk’s recent rally and could sustain demand for its storage products. SNDK Jumps 25% in a Month: Is there More Room for the Stock to Rise?
- Positive Sentiment: NAND pricing continues to benefit Sandisk. TrendForce expects prices to rise another 10% to 15% this quarter after an estimated 70% to 75% increase in the prior period; Sandisk indicated that higher pricing drove approximately two-thirds of its latest sequential revenue growth. Sandisk Rode an Estimated 70% Jump in NAND Prices
- Positive Sentiment: Sandisk was highlighted as a profitable company with strong net income and earnings growth. Its planned $14 billion share-repurchase authorization could provide additional support after the stock’s substantial 2026 advance. $27 Billion in Buybacks: 3 Stocks Betting Their Strong Runs Aren’t Over
Sandisk Stock Performance
Sandisk (NASDAQ:SNDK – Get Free Report) last posted its quarterly 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. The business had revenue of $8.96 billion during the quarter. Sandisk had a return on equity of 87.84% and a net margin of 56.47%.The company’s revenue for the quarter was up 371.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.29 EPS. Sandisk has set its Q1 2027 guidance at 44.000-46.000 EPS. Sell-side analysts predict that Sandisk Corporation will post 208.92 EPS for the current fiscal year.
Sandisk announced that its board has initiated a share repurchase program on Wednesday, August 5th that authorizes the company to buyback $14.00 billion in shares. This buyback authorization authorizes the data storage provider to reacquire up to 6.6% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board believes its stock is undervalued.
Wall Street Analysts Forecast Growth
SNDK has been the topic of a number of recent research reports. Morgan Stanley lifted their target price on Sandisk from $1,100.00 to $1,750.00 and gave the company an “overweight” rating in a research report on Wednesday, June 3rd. Sanford C. Bernstein restated an “outperform” rating on shares of Sandisk in a research note on Thursday, August 6th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $2,900.00 price target on shares of Sandisk in a research report on Monday, August 10th. Evercore reiterated an “outperform” rating on shares of Sandisk in a research note on Thursday, August 13th. Finally, Melius Research set a $2,350.00 price objective on Sandisk in a report on Monday, May 18th. Three research analysts have rated the stock with a Strong Buy rating, twenty have issued a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $1,999.27.
View Our Latest Report on SNDK
Insider Activity at Sandisk
In other news, insider Bernard Shek sold 600 shares of Sandisk 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 transaction of $697,296.00. Following the completion of 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 position. The sale was disclosed in a legal filing with the SEC, which can be accessed 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 that occurred 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 transaction, the executive vice president directly owned 52,677 shares in the company, valued at $92,531,364.66. The trade was a 3.66% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 3,800 shares of company stock valued at $6,504,856 over the last quarter. 0.21% of the stock is currently owned by corporate insiders.
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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