NFSG Corp lifted its holdings in shares of Sandisk Corporation (NASDAQ:SNDK – Free Report) by 42.7% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 2,180 shares of the data storage provider’s stock after acquiring an additional 652 shares during the quarter. NFSG Corp’s holdings in Sandisk were worth $3,793,000 as of its most recent filing with the SEC.
Several other institutional investors have also modified their holdings of SNDK. BlackRock Inc. purchased a new position in Sandisk in the second quarter valued at about $23,408,732,000. Evergreen Quality Fund GP Ltd. acquired a new stake in Sandisk during the 4th quarter valued at approximately $255,848,000. Situational Awareness LP grew its stake in Sandisk by 42.4% during the 2nd quarter. Situational Awareness LP now owns 2,495,344 shares of the data storage provider’s stock valued at $5,673,739,000 after purchasing an additional 743,325 shares in the last quarter. Bank of New York Mellon Corp purchased a new stake in Sandisk during the 2nd quarter worth approximately $1,621,353,000. Finally, Bank of America Corp DE purchased a new stake in Sandisk during the 2nd quarter worth approximately $1,564,901,000.
Analyst Ratings Changes
A number of equities analysts have issued reports on SNDK shares. Wells Fargo & Company upped their target price on Sandisk from $1,400.00 to $1,550.00 and gave the company an “equal weight” rating in a research report on Thursday, August 13th. Argus upgraded Sandisk from a “hold” rating to a “buy” rating and set a $1,600.00 target price for the company in a research note on Monday, August 10th. Citigroup reissued a “buy” rating on shares of Sandisk in a research report on Thursday, October 1st. Wedbush restated an “outperform” rating and issued a $2,000.00 price target on shares of Sandisk in a research note on Friday, August 14th. Finally, UBS Group restated an “overweight” rating and issued a $1,750.00 price target on shares of Sandisk in a research note on Friday, August 14th. Three analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $2,120.65.
Check Out Our Latest Analysis on SNDK
More Sandisk News
Here are the key news stories impacting Sandisk this week:
- Positive Sentiment: Sandisk has reportedly secured at least $93.9 billion in expected revenue through multiyear contracts, with financial guarantees that could protect the company if customers fail to meet their commitments. This provides meaningful revenue visibility and supports the long-term investment case. SanDisk Stock Is Falling on AI Fears. Its $93.9 Billion Contract Book Tells Another Story
- Positive Sentiment: Zacks Research upgraded Sandisk to “strong buy” from “hold,” citing the company’s growth prospects. Analysts have also identified Sandisk as a buy-the-dip opportunity because of strong AI-related storage demand and favorable longer-term industry growth. AI Memory Chip Selloff Looks Overblown
- Positive Sentiment: A partnership with Meta Platforms to provide data-storage options for Meta VR Glasses adds a potential avenue for future demand, although it has not prevented the broader sector selloff. SanDisk Stock Drops Despite Meta Partnership
- Neutral Sentiment: Investor Cathie Wood remains cautious on memory-chip companies, arguing that industry cycles are “vicious” and that Chinese rivals could eventually pressure margins. Her view highlights the risk that Sandisk’s recent margin expansion may prove temporary. Cathie Wood Says the Memory Chip Trend Is Up but the Cycles Are Vicious
- Negative Sentiment: Chinese semiconductor maker CXMT’s reported plans to expand into server memory have intensified fears of future oversupply, lower pricing, and weaker margins for Sandisk and its peers. Memory Stocks Extend Selloff on China Competition Fears
- Negative Sentiment: A broad technology and AI-stock selloff has pulled memory makers lower, with roughly $1 trillion in market value reportedly erased from major companies since October 2. Hotter-than-expected U.S. inflation has added pressure by increasing interest-rate concerns. Chip Meltdown Hits Memory Makers
Sandisk Stock Performance
Shares of SNDK stock opened at $1,394.83 on Friday. The stock has a market capitalization of $201.59 billion, a price-to-earnings ratio of 19.13, a PEG ratio of 0.14 and a beta of 5.23. Sandisk Corporation has a one year low of $136.29 and a one year high of $2,354.39. The company’s 50-day simple moving average is $1,601.86 and its 200-day simple moving average is $1,498.34.
Sandisk (NASDAQ:SNDK – Get Free Report) last announced its quarterly earnings data on Wednesday, August 5th. The data storage provider reported $39.25 earnings per share for the quarter, beating the consensus estimate of $33.28 by $5.97. The firm 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 firm’s quarterly revenue was up 371.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.29 earnings per share. Sandisk has set its Q1 2027 guidance at 44.000-46.000 EPS. As a group, research analysts forecast that Sandisk Corporation will post 208.94 EPS for the current year.
Sandisk declared that its board has approved a share repurchase program on Wednesday, August 5th that allows the company to repurchase $14.00 billion in outstanding shares. This repurchase authorization allows the data storage provider to buy up to 6.6% of its shares through open market purchases. Share repurchase programs are usually an indication that the company’s leadership believes its shares are undervalued.
Insider Transactions at Sandisk
In other news, EVP Alper Ilkbahar sold 4,712 shares of Sandisk stock in a transaction that occurred on Thursday, September 3rd. The stock was sold at an average price of $1,540.58, for a total value of $7,259,212.96. Following the completion of the transaction, the executive vice president owned 44,134 shares in the company, valued at approximately $67,991,957.72. This trade represents a 9.65% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Bernard Shek sold 2,308 shares of Sandisk stock in a transaction that occurred on Tuesday, September 8th. The stock was sold at an average price of $1,767.33, for a total value of $4,078,997.64. Following the completion of the transaction, 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 SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 77,899 shares of company stock worth $121,159,122. 0.29% 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.
Featured Articles
- Five stocks we like better than Sandisk
- ASML Can’t Keep Up With AI Demand—Why That’s a Good Thing
- Enovix’s 100,000-Battery Drone Order Sets Up a Test of Its Production Plans
- AMD’s Support Could Help Fermi Stock Overcome Its Biggest Hurdle
- Beyond the GPU: Credo Paves the Next AI Data Superhighway
Want to see what other hedge funds are holding SNDK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Sandisk Corporation (NASDAQ:SNDK – Free Report).
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.
