Canada Pension Plan Investment Board purchased a new stake in shares of Sandisk Corporation (NASDAQ:SNDK – Free Report) during the second quarter, Holdings Channel.com reports. The fund purchased 59,603 shares of the data storage provider’s stock, valued at approximately $135,521,000.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Osaic Holdings Inc. purchased a new stake in Sandisk in the 2nd quarter worth about $317,000. Merit Financial Group LLC bought a new stake in Sandisk in the 3rd quarter valued at about $408,000. Dimensional Fund Advisors LP purchased a new stake in Sandisk during the third quarter valued at about $100,080,000. First Trust Advisors LP purchased a new stake in Sandisk during the third quarter valued at about $9,788,000. Finally, Blair William & Co. IL bought a new position in Sandisk during the third quarter worth about $591,000.
Insider Transactions at Sandisk
In other news, EVP Alper Ilkbahar sold 2,000 shares of the business’s stock in a transaction dated Monday, June 1st. The stock was 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 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Bernard Shek sold 600 shares of the company’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 transaction of $697,296.00. Following the completion of the transaction, the insider owned 30,915 shares in the company, valued at approximately $35,928,176.40. This trade represents a 1.90% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 3,800 shares of company stock valued at $6,504,856. Corporate insiders own 0.21% of the company’s stock.
Key Stories Impacting Sandisk
- Positive Sentiment: AI and NAND-cycle optimism: Investor sentiment improved after reports that demand for AI infrastructure is boosting high-capacity storage, while tighter NAND supply could support pricing and margins. This has helped Sandisk maintain strong momentum after its sharp one-year advance. SanDisk Stock Climbs As NAND Optimism Lifts Memory Stocks
- Positive Sentiment: Capital-return plans attract attention: Jim Cramer highlighted Sandisk’s substantial share-buyback plans, which may support earnings per share and signal management confidence following the stock’s surge. Jim Cramer Highlights Sandisk’s Massive Buybacks
- Positive Sentiment: Wall Street remains constructive: Mizuho reduced its price target modestly to $1,875 but retained an “outperform” rating, implying considerable upside from the reference price. Other recent commentary also points to Sandisk’s momentum and potential margin expansion. Why Sandisk Is a Strong Momentum Stock
- Neutral Sentiment: Volatile sector trading: Sandisk and other memory stocks rebounded after a broad sell-off, but the group also faced renewed pre-market weakness as investors reassessed valuation and near-term memory pricing. The mixed trading indicates that sentiment remains highly sensitive to sector news. Memory Stocks Rebound After Sell-Off
- Negative Sentiment: Chinese competition is a longer-term risk: Yangtze Memory Technologies is targeting greater NAND market share by 2027, potentially increasing pricing pressure and challenging established suppliers such as Sandisk. YMTC Targets NAND Dominance
Analyst Upgrades and Downgrades
SNDK has been the subject of several recent research reports. Barclays upgraded shares of Sandisk from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $1,200.00 to $2,300.00 in a research note on Tuesday, May 26th. Mizuho reduced their price objective on shares of Sandisk from $1,900.00 to $1,875.00 and set an “outperform” rating for the company in a research note on Tuesday. Cantor Fitzgerald reissued an “overweight” rating and set a $2,900.00 target price on shares of Sandisk in a report on Monday, August 10th. Sanford C. Bernstein reaffirmed an “outperform” rating on shares of Sandisk in a report on Thursday, August 6th. Finally, Evercore reiterated an “outperform” rating on shares of Sandisk in a research report on Thursday, August 13th. Three investment analysts have rated the stock with a Strong Buy rating, twenty have given a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Buy” and an average target price of $1,998.14.
Get Our Latest Analysis on Sandisk
Sandisk Price Performance
Shares of NASDAQ:SNDK opened at $1,499.37 on Thursday. The firm has a fifty day moving average price of $1,623.86 and a two-hundred day moving average price of $1,242.46. Sandisk Corporation has a one year low of $47.40 and a one year high of $2,354.39. The company has a market cap of $219.54 billion, a price-to-earnings ratio of 20.57, a PEG ratio of 0.15 and a beta of 5.20.
Sandisk (NASDAQ:SNDK – Get Free Report) last released its quarterly earnings results on Wednesday, August 5th. The data storage provider reported $39.25 earnings per share for the quarter, topping the consensus estimate of $33.28 by $5.97. Sandisk had a net margin of 56.47% and a return on equity of 87.84%. The firm had revenue of $8.96 billion for the quarter. During the same period in the previous year, the company posted $0.29 EPS. The company’s revenue for the quarter was up 371.6% compared to the same quarter last year. Sandisk has set its Q1 2027 guidance at 44.000-46.000 EPS. Equities research analysts expect 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 purchase up to 6.6% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its stock is undervalued.
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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