Engineers Gate Manager LP cut its stake in shares of Sandisk Corporation (NASDAQ:SNDK – Free Report) by 74.7% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 4,729 shares of the data storage provider’s stock after selling 13,993 shares during the period. Engineers Gate Manager LP’s holdings in Sandisk were worth $10,752,000 as of its most recent SEC filing.
Several other large investors have also made changes to their positions in the company. Handelsbanken Fonder AB raised its stake in shares of 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 acquiring an additional 14,964 shares during the period. Allworth Financial LP boosted its position 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 purchasing an additional 2,067 shares during the period. Tredje AP fonden acquired a new stake in Sandisk in the 4th quarter valued at $7,821,000. ProShare Advisors LLC increased its holdings in Sandisk by 1,301.5% in the 4th quarter. ProShare Advisors LLC now owns 33,637 shares of the data storage provider’s stock valued at $7,985,000 after purchasing an additional 31,237 shares in the last quarter. Finally, FourThought Financial Partners LLC purchased a new position in Sandisk in the fourth quarter valued at about $422,000.
Insider Buying and Selling at Sandisk
In other news, insider Bernard Shek sold 2,308 shares of the business’s stock in a transaction dated Tuesday, September 8th. The shares were sold at an average price of $1,767.33, for a total value of $4,078,997.64. Following the completion of the sale, the insider owned 25,305 shares of the company’s stock, valued at approximately $44,722,285.65. The trade was a 8.36% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Alper Ilkbahar sold 4,712 shares of the stock in a transaction dated Thursday, September 3rd. The stock was sold at an average price of $1,540.58, for a total transaction of $7,259,212.96. Following the transaction, the executive vice president directly owned 44,134 shares in the company, valued at $67,991,957.72. The trade was a 9.65% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 9,220 shares of company stock worth $14,829,223 over the last ninety days. 0.21% of the stock is currently owned by corporate insiders.
Sandisk News Summary
- Positive Sentiment: AI-driven NAND demand remains a long-term support. Analysts continue to point to strong data-center and artificial-intelligence infrastructure demand, tight memory supply and potentially higher NAND prices as reasons for optimism about Sandisk’s earnings and margins. Memory prices and Sandisk article
- Positive Sentiment: Citi maintained its Buy rating and $2,100 price target. The analyst cited strengthening AI-related NAND demand, leaving the target above the company’s current trading level. Citi Sandisk rating article
- Neutral Sentiment: Investors remain divided after an extraordinary rally. Sandisk has gained more than 600% year to date, creating substantial momentum but also raising questions about valuation, sustainability of margins and the risk of additional profit-taking. A Goldman Sachs view that the memory downturn may be easing provides sector support, although it has not prevented near-term volatility. Memory stocks outlook article
- Negative Sentiment: Macro conditions triggered a broad technology selloff. Higher oil prices intensified concerns that inflation could keep interest rates elevated, weighing particularly heavily on high-beta growth stocks such as SNDK and its memory-chip peers. Memory stocks falling article
- Negative Sentiment: Rating and insider-selling headlines added pressure. Zacks Research downgraded Sandisk from Strong Buy to Hold, while executives disclosed sales totaling millions of dollars. The transactions were made under pre-arranged Rule 10b5-1 plans, limiting their significance, but they may still reinforce profit-taking concerns. Sandisk insider trading article
Sandisk Price Performance
NASDAQ:SNDK opened at $1,692.59 on Friday. The firm has a 50-day moving average of $1,520.00 and a two-hundred day moving average of $1,321.26. The stock has a market cap of $247.83 billion, a P/E ratio of 23.22, a PEG ratio of 0.18 and a beta of 5.17. Sandisk Corporation has a 1-year low of $81.38 and a 1-year high of $2,354.39.
Sandisk (NASDAQ:SNDK – Get Free Report) last announced its earnings results on Wednesday, August 5th. The data storage provider reported $39.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $33.28 by $5.97. Sandisk had a return on equity of 87.84% and a net margin of 56.47%.The business had revenue of $8.96 billion for the quarter. During the same period in the previous year, the firm posted $0.29 earnings per share. The firm’s revenue was up 371.6% compared to the same quarter last year. Sandisk has set its Q1 2027 guidance at 44.000-46.000 EPS. As a group, equities analysts expect that Sandisk Corporation will post 208.92 earnings per share for the current year.
Sandisk announced that its board has authorized a share buyback plan on Wednesday, August 5th that allows the company to buyback $14.00 billion in outstanding shares. This buyback authorization allows the data storage provider to reacquire up to 6.6% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s management believes its stock is undervalued.
Analyst Upgrades and Downgrades
SNDK has been the topic of a number of recent research reports. New Street Research set a $3,000.00 price objective on Sandisk in a research note on Thursday, August 6th. Sanford C. Bernstein reiterated an “outperform” rating on shares of Sandisk in a report on Thursday, August 6th. JPMorgan Chase & Co. started coverage on Sandisk in a research report on Friday, August 14th. They set an “overweight” rating and a $2,250.00 price target on the stock. Evercore restated an “outperform” rating on shares of Sandisk in a report on Thursday, August 13th. Finally, Morgan Stanley increased their price objective on shares of Sandisk from $1,100.00 to $1,750.00 and gave the company an “overweight” rating in a research report on Wednesday, June 3rd. Two analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $1,998.14.
Check Out Our Latest Report on Sandisk
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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