Wedmont Private Capital lifted its holdings in Sandisk Corporation (NASDAQ:SNDK – Free Report) by 13.9% during the second quarter, Holdings Channel reports. The institutional investor owned 2,845 shares of the data storage provider’s stock after purchasing an additional 348 shares during the quarter. Wedmont Private Capital’s holdings in Sandisk were worth $6,469,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. BlackRock Inc. acquired a new stake in Sandisk in the second quarter valued at $23,408,732,000. State Street Corp purchased a new stake in Sandisk during the third quarter worth about $491,053,000. Arrowstreet Capital Limited Partnership acquired a new position in Sandisk during the third quarter worth about $297,293,000. Norges Bank purchased a new position in Sandisk in the fourth quarter valued at about $518,889,000. Finally, Bank of America Corp DE acquired a new stake in shares of Sandisk during the 3rd quarter valued at approximately $190,425,000.
Analyst Upgrades and Downgrades
Several equities research analysts have recently commented on SNDK shares. UBS Group reissued an “overweight” rating and set a $1,750.00 price target on shares of Sandisk in a research note on Friday, August 14th. Susquehanna cut their price target on Sandisk from $3,250.00 to $3,050.00 and set a “positive” rating for the company in a research note on Thursday, July 23rd. Morgan Stanley lifted their target price on shares of Sandisk from $1,100.00 to $1,750.00 and gave the stock an “overweight” rating in a research report on Wednesday, June 3rd. The Goldman Sachs Group reiterated a “buy” rating and issued a $2,200.00 price target on shares of Sandisk in a research report on Thursday, August 13th. Finally, Evercore reissued an “outperform” rating on shares of Sandisk in a research note on Thursday, August 13th. Three research analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Sandisk has an average rating of “Buy” and a consensus target price of $1,998.14.
Sandisk Stock Performance
Shares of SNDK stock opened at $1,740.00 on Monday. The company has a market capitalization of $254.77 billion, a price-to-earnings ratio of 23.87, a PEG ratio of 0.17 and a beta of 5.17. The firm has a 50-day moving average price of $1,543.33 and a 200 day moving average price of $1,289.76. Sandisk Corporation has a twelve month low of $63.74 and a twelve month high of $2,354.39.
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 (EPS) for the quarter, topping the consensus estimate of $33.28 by $5.97. The company had revenue of $8.96 billion for the quarter. Sandisk had a net margin of 56.47% and a return on equity of 87.84%. Sandisk’s revenue for the quarter was up 371.6% on a year-over-year basis. During the same period in the prior year, the business earned $0.29 earnings per share. Sandisk has set its Q1 2027 guidance at 44.000-46.000 EPS. As a group, research analysts predict that Sandisk Corporation will post 208.92 earnings per share for the current year.
Sandisk announced that its Board of Directors has initiated a stock buyback plan 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 plans are often a sign that the company’s leadership believes its shares are undervalued.
Key Sandisk News
Here are the key news stories impacting Sandisk this week:
- Positive Sentiment: AI-driven memory demand is the main catalyst. Nvidia’s reported $12.9 billion acquisition of Hugging Face reinforced expectations that expanding AI data centers will require significantly more NAND storage. SanDisk rose alongside Micron and other AI-related semiconductor stocks. SanDisk Shares Surge Following Nvidia’s Hugging Face Deal
- Positive Sentiment: Analysts see substantial upside. Lynx Research set a $2,450 target for SNDK, while other bullish research points to accelerating NAND pricing, supply-and-demand advantages and strong AI-related growth. Zacks also maintained a Rank #1, or Strong Buy, view. Lynx Research Memory Stock Price Targets
- Positive Sentiment: SanDisk’s latest results provide fundamental support: earnings exceeded estimates, revenue rose 371.6% year over year, and management guided to $44–$46 in fiscal first-quarter 2027 EPS. The company’s $14 billion share-repurchase authorization may further support the stock.
- Neutral Sentiment: The broader semiconductor group is strong, but macro conditions remain mixed. A hot employment report pushed Treasury yields and rate-hike expectations higher, creating volatility for high-growth technology stocks. SanDisk will present at Citi’s and Goldman Sachs’ technology conferences on September 8–9, potentially providing additional guidance. SanDisk Investor Conference Participation
- Negative Sentiment: Investors continue to face risks from the memory industry’s cyclicality, elevated valuation and rising Chinese competition. Progress by China’s CXMT and other domestic producers could pressure SanDisk’s pricing and market share. A company insider also sold $915,360 of shares under a pre-arranged Rule 10b5-1 plan, although the sale was relatively small compared with the remaining holding. China Memory Market Share Concerns
Insider Transactions at Sandisk
In other Sandisk news, insider Bernard Shek sold 600 shares of the business’s stock in a transaction on Tuesday, September 1st. The stock was sold at an average price of $1,525.60, for a total value of $915,360.00. Following the completion of the transaction, the insider directly owned 29,884 shares in the company, valued at approximately $45,591,030.40. The trade was a 1.97% decrease in their position. The sale 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. Insiders have sold a total of 1,800 shares of company stock worth $2,865,456 in the last quarter. 0.21% of the stock is currently owned by company 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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