The Manufacturers Life Insurance Company Buys New Holdings in Sandisk Corporation $SNDK

The Manufacturers Life Insurance Company purchased a new position in Sandisk Corporation (NASDAQ:SNDK) during the 2nd quarter, HoldingsChannel reports. The institutional investor purchased 79,358 shares of the data storage provider’s stock, valued at approximately $180,439,000.

Other institutional investors also recently bought and sold shares of the company. Valley Wealth Managers Inc. purchased a new stake in shares of Sandisk in the 1st quarter valued at $25,000. Greenline Wealth Management LLC purchased a new position in shares of Sandisk during the fourth quarter worth $26,000. Chung Wu Investment Group LLC purchased a new position in shares of Sandisk during the fourth quarter worth $27,000. IMG Wealth Management Inc. acquired a new position in Sandisk during the first quarter valued at $29,000. Finally, Dunhill Financial LLC acquired a new position in Sandisk during the second quarter valued at $30,000.

Sandisk Stock Down 6.5%

SNDK stock opened at $1,493.12 on Tuesday. The company’s 50-day simple moving average is $1,643.27 and its 200-day simple moving average is $1,229.65. Sandisk Corporation has a 52-week low of $46.01 and a 52-week high of $2,354.39. The firm has a market cap of $218.62 billion, a P/E ratio of 20.48, a PEG ratio of 0.16 and a beta of 5.21.

Sandisk (NASDAQ:SNDK) last posted its earnings results on Wednesday, August 5th. The data storage provider reported $39.25 EPS for the quarter, beating 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 firm had revenue of $8.96 billion for the quarter. During the same quarter last year, the business earned $0.29 earnings per share. Sandisk’s revenue was up 371.6% on a year-over-year basis. Sandisk has set its Q1 2027 guidance at 44.000-46.000 EPS. On average, analysts anticipate that Sandisk Corporation will post 208.92 earnings per share for the current fiscal year.

Sandisk declared that its board has authorized a share buyback 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 stock through open market purchases. Stock buyback programs are typically a sign that the company’s board believes its stock is undervalued.

Key Stories Impacting Sandisk

Here are the key news stories impacting Sandisk this week:

• Positive Sentiment: AI-driven demand remains a major growth catalyst. Surging data-center revenue, multi-year contracts and improving revenue visibility have helped support Sandisk’s recent rally and could sustain demand for its storage products. SNDK Jumps 25% in a Month: Is there More Room for the Stock to Rise?
• Positive Sentiment: NAND pricing continues to benefit Sandisk. TrendForce expects prices to rise another 10% to 15% this quarter after an estimated 70% to 75% increase in the prior period; Sandisk indicated that higher pricing drove approximately two-thirds of its latest sequential revenue growth. Sandisk Rode an Estimated 70% Jump in NAND Prices
• Positive Sentiment: Sandisk was highlighted as a profitable company with strong net income and earnings growth. Its planned $14 billion share-repurchase authorization could provide additional support after the stock’s substantial 2026 advance. $27 Billion in Buybacks: 3 Stocks Betting Their Strong Runs Aren’t Over

Analyst Upgrades and Downgrades

SNDK has been the topic of several analyst reports. Mizuho set a $1,900.00 price target on Sandisk in a research report on Friday, August 14th. Sanford C. Bernstein restated an “outperform” rating on shares of Sandisk in a research note on Thursday, August 6th. Weiss Ratings cut Sandisk from a “hold (c+)” rating to a “hold (c)” rating in a research report on Friday, August 14th. Evercore reiterated an “outperform” rating on shares of Sandisk in a research report on Thursday, August 13th. Finally, Royal Bank Of Canada boosted their price target on Sandisk from $1,300.00 to $1,600.00 and gave the company a “sector perform” rating in a report on Friday, August 14th. Three analysts have rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Sandisk currently has a consensus rating of “Buy” and an average price target of $1,999.27.

Insider Buying and Selling

In other Sandisk news, insider Bernard Shek sold 600 shares of the firm’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 value of $697,296.00. Following the sale, the insider directly owned 30,915 shares of the company’s stock, valued at approximately $35,928,176.40. This trade represents a 1.90% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Alper Ilkbahar sold 2,000 shares of the business’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 value of $3,513,160.00. Following the completion of the sale, the executive vice president owned 52,677 shares of the company’s stock, valued at $92,531,364.66. This trade represents a 3.66% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 3,800 shares of company stock worth $6,504,856 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.