Great Lakes Advisors LLC Invests $53.83 Million in Sandisk Corporation $SNDK

Great Lakes Advisors LLC bought a new stake in Sandisk Corporation (NASDAQ:SNDK) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 23,676 shares of the data storage provider’s stock, valued at approximately $53,834,000.

Several other hedge funds also recently modified their holdings of SNDK. BlackRock Inc. purchased a new stake in Sandisk in the 2nd quarter valued at $23,408,732,000. State Street Corp boosted its holdings in Sandisk by 20.7% during the 4th quarter. State Street Corp now owns 5,281,522 shares of the data storage provider’s stock worth $1,253,728,000 after acquiring an additional 904,933 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Sandisk by 44.9% in the 4th quarter. Geode Capital Management LLC now owns 3,655,860 shares of the data storage provider’s stock worth $866,310,000 after acquiring an additional 1,133,276 shares in the last quarter. Arrowstreet Capital Limited Partnership grew its stake in shares of Sandisk by 31.3% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 3,478,002 shares of the data storage provider’s stock worth $825,608,000 after acquiring an additional 828,332 shares in the last quarter. Finally, Morgan Stanley raised its holdings in shares of Sandisk by 7.2% in the fourth quarter. Morgan Stanley now owns 2,970,361 shares of the data storage provider’s stock valued at $705,105,000 after purchasing an additional 199,545 shares during the last quarter.

Sandisk Stock Performance

Shares of NASDAQ:SNDK opened at $1,625.78 on Wednesday. The company has a market capitalization of $240.76 billion, a P/E ratio of 22.30, a price-to-earnings-growth ratio of 0.16 and a beta of 5.21. The company’s 50-day moving average is $1,670.35 and its 200 day moving average is $1,203.01. Sandisk Corporation has a fifty-two week low of $43.20 and a fifty-two week high of $2,354.39.

Sandisk (NASDAQ:SNDK) last posted its quarterly earnings data 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. The business had revenue of $8.96 billion during the quarter. Sandisk had a net margin of 56.47% and a return on equity of 87.84%. The business’s quarterly revenue was up 371.6% on a year-over-year basis. During the same quarter last year, the business posted $0.29 EPS. 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 declared that its board has authorized a stock repurchase program on Wednesday, August 5th that permits the company to buyback $14.00 billion in shares. This buyback authorization permits the data storage provider to reacquire up to 6.6% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board believes its shares are undervalued.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. Sanford C. Bernstein reissued an “outperform” rating on shares of Sandisk in a research report on Thursday, August 6th. Susquehanna decreased their price objective on shares of 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. JPMorgan Chase & Co. started coverage on shares of Sandisk in a research report on Friday, August 14th. They set an “overweight” rating and a $2,250.00 target price on the stock. Wedbush restated an “outperform” rating and issued a $2,000.00 target price on shares of Sandisk in a research note on Friday, August 14th. Finally, Jefferies Financial Group reaffirmed a “buy” rating on shares of Sandisk in a report on Thursday, August 6th. Three research analysts have rated the stock with a Strong Buy rating, twenty have given a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $1,999.27.

Insider Buying and Selling

In other news, EVP Alper Ilkbahar sold 2,000 shares of the firm’s stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $1,756.58, for a total transaction of $3,513,160.00. Following the completion of the sale, the executive vice president owned 52,677 shares in the company, valued at $92,531,364.66. This trade represents a 3.66% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, 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 sale, the insider directly owned 30,915 shares in the company, valued at $35,928,176.40. This trade represents a 1.90% 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. Insiders have sold a total of 3,800 shares of company stock valued at $6,504,856 over the last three months. Insiders own 0.21% of the company’s stock.

Key Headlines Impacting Sandisk

Here are the key news stories impacting Sandisk this week:

• Positive Sentiment: Sandisk’s recent Investor Day highlighted significant long-term growth opportunities in AI storage, including high-bandwidth flash memory, a reported $93.9 billion customer backlog and ambitious profitability targets through fiscal 2028–2030. Management also emphasized returning excess cash to shareholders. Sandisk: Too Cheap To Ignore, Too Cyclical To Trust
• Positive Sentiment: JPMorgan initiated coverage with a Buy-equivalent recommendation and a $2,250 price target, citing Sandisk’s positioning in the AI memory market. This follows strong quarterly results, including earnings that exceeded expectations and revenue growth of roughly 372% year over year. SanDisk Gets New Buy Recommendation
• Positive Sentiment: Analysts and market commentators continue to argue that AI infrastructure demand could keep memory pricing and storage demand elevated, with some viewing Sandisk’s high-bandwidth flash products as a potential beneficiary of the shift toward agentic AI. Elon Musk on Memory and Storage Demand
• Neutral Sentiment: After gaining roughly 28% in the prior five sessions and nearly 550% year to date, SNDK is experiencing heightened volatility and profit-taking. Technical analysts are watching nearby support levels to determine whether the rebound can continue or the broader correction resumes. Sandisk Price Forecast
• Neutral Sentiment: Although the memory shortage may persist into 2027, investors remain divided over whether current margins are sustainable. Sandisk’s outlook depends heavily on continued pricing strength, data-center demand and successful execution of its new business model. Sandisk Stock and the Memory Shortage
• Negative Sentiment: A Wall Street Journal report intensified a broad selloff in memory-chip stocks as investors rotated out of AI hardware winners. Sandisk, Micron and Western Digital all came under pressure, indicating that sector-wide positioning is a major factor behind SNDK’s decline. WSJ Report Sends Memory Stocks Down
• Negative Sentiment: Rising Treasury yields are pressuring richly valued growth and semiconductor shares, making investors less willing to pay high multiples for stocks whose earnings are tied to a cyclical memory boom. Higher Rates Test the Memory Boom
• Negative Sentiment: Concerns that memory remains a boom-and-bust industry are resurfacing after SNDK’s parabolic run. Any normalization in NAND pricing or evidence of weaker demand could challenge expectations embedded in the stock’s elevated valuation. Sandisk: Every Bounce Looks Like a Trap

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.