Formula Growth Ltd. Makes New Investment in Sandisk Corporation $SNDK

Formula Growth Ltd. bought a new position in shares of Sandisk Corporation (NASDAQ:SNDK) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 480 shares of the data storage provider’s stock, valued at approximately $1,091,000.

A number of other hedge funds also recently modified their holdings of SNDK. Valley Wealth Managers Inc. bought a new position in Sandisk in the 1st quarter valued at about $25,000. Greenline Wealth Management LLC acquired a new position in shares of Sandisk during the fourth quarter worth $26,000. Chung Wu Investment Group LLC acquired a new position in Sandisk in the 4th quarter worth about $27,000. IMG Wealth Management Inc. acquired a new position in shares of Sandisk in the first quarter valued at approximately $29,000. Finally, Parallel Advisors LLC acquired a new position in Sandisk in the 3rd quarter valued at approximately $30,000.

Sandisk Stock Performance

SNDK stock opened at $1,484.95 on Friday. The stock’s 50 day simple moving average is $1,609.87 and its 200 day simple moving average is $1,248.71. Sandisk Corporation has a fifty-two week low of $48.56 and a fifty-two week high of $2,354.39. The company has a market cap of $217.43 billion, a P/E ratio of 20.37, a price-to-earnings-growth ratio of 0.15 and a beta of 5.20.

Sandisk (NASDAQ:SNDK) last announced its quarterly earnings data 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. 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 company’s revenue was up 371.6% on a year-over-year basis. During the same period last year, the business posted $0.29 EPS. Sandisk has set its Q1 2027 guidance at 44.000-46.000 EPS. Equities analysts predict that Sandisk Corporation will post 208.92 earnings per share for the current year.

Sandisk declared that its Board of Directors has initiated a share repurchase plan on Wednesday, August 5th that allows the company to buyback $14.00 billion in shares. This buyback authorization allows the data storage provider to repurchase up to 6.6% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s board of directors believes its shares are undervalued.

Trending Headlines about Sandisk

Here are the key news stories impacting Sandisk this week:

• Positive Sentiment: Sandisk and Kioxia announced plans to invest more than $31 billion in Japanese memory-manufacturing infrastructure through 2032, contingent on government support. The spending should expand flash-memory capacity, reinforce their long-standing joint venture and strengthen Sandisk’s position in the AI-driven storage market. Kioxia and Sandisk investment announcement
• Positive Sentiment: Analyst commentary remains favorable, citing AI and cloud demand, firm memory pricing, supply constraints and multiyear customer agreements as drivers of stronger near-term growth. Zacks also identified Sandisk among storage-device companies benefiting from momentum in AI, data centers, automotive and IoT. Zacks Sandisk comparison
• Neutral Sentiment: Nvidia’s strong earnings and comments pointing to tight memory availability initially supported Sandisk and other memory stocks. However, the broader AI optimism has not translated into sustained buying as investors reassess company-specific risks and the stock’s elevated valuation.
• Negative Sentiment: A report that the Trump administration may consider additional restrictions affecting memory-chip exports has pressured the sector, raising concerns about Sandisk’s access to Chinese customers and potential disruption to industry trade flows. Memory stocks policy concerns
• Negative Sentiment: Investors are also watching growing NAND competition from China’s YMTC, which is targeting greater global market share by 2027. Increased supply could weaken pricing and margins over time. YMTC NAND competition
• Negative Sentiment: Mizuho lowered its expectations for Sandisk’s stock price, adding to the cautious tone after the shares’ substantial recent appreciation. Mizuho Sandisk price target report

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on SNDK. JPMorgan Chase & Co. initiated coverage on Sandisk in a research note on Friday, August 14th. They issued an “overweight” rating and a $2,250.00 price target for the company. Royal Bank Of Canada increased their price target on Sandisk from $1,300.00 to $1,600.00 and gave the stock a “sector perform” rating in a report on Friday, August 14th. Evercore reaffirmed an “outperform” rating on shares of Sandisk in a research report on Thursday, August 13th. Mizuho lowered their price objective on shares of Sandisk from $1,900.00 to $1,875.00 and set an “outperform” rating for the company in a research note on Tuesday. Finally, Cantor Fitzgerald reiterated an “overweight” rating and set a $2,900.00 target price on shares of Sandisk in a research report on Monday, August 10th. Three equities research analysts have rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $1,998.14.

Insiders Place Their Bets

In other Sandisk news, insider Bernard Shek sold 600 shares of the business’s stock in a transaction on Monday, August 3rd. The shares were 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 owned 30,915 shares in the company, valued at approximately $35,928,176.40. The trade was a 1.90% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Alper Ilkbahar sold 2,000 shares of the company’s stock in a transaction on Monday, June 1st. The stock was sold at an average price of $1,756.58, for a total transaction of $3,513,160.00. Following the transaction, the executive vice president owned 52,677 shares in the company, valued at approximately $92,531,364.66. The trade was a 3.66% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 3,800 shares of company stock worth $6,504,856. 0.21% of the stock is owned by company insiders.

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.