340 Shares in Sandisk Corporation $SNDK Acquired by NorthRock Partners LLC

NorthRock Partners LLC bought a new stake in shares of Sandisk Corporation (NASDAQ:SNDK) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 340 shares of the data storage provider’s stock, valued at approximately $773,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. California State Teachers Retirement System raised its position in Sandisk by 235,032.6% in the second quarter. California State Teachers Retirement System now owns 380,392,755 shares of the data storage provider’s stock worth $864,910,419,000 after acquiring an additional 380,230,977 shares during the period. BlackRock Inc. purchased a new stake in shares of Sandisk in the 2nd quarter worth $23,408,732,000. State Street Corp purchased a new stake in shares of Sandisk in the 3rd quarter worth $491,053,000. Arrowstreet Capital Limited Partnership purchased a new stake in shares of Sandisk in the 3rd quarter worth $297,293,000. Finally, Norges Bank bought a new position in Sandisk in the 4th quarter worth $518,889,000.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. Morgan Stanley boosted their price target on Sandisk from $1,100.00 to $1,750.00 and gave the company an “overweight” rating in a report on Wednesday, June 3rd. 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 objective on the stock. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $2,900.00 price objective on shares of Sandisk in a research report on Monday, August 10th. Zacks Research downgraded Sandisk from a “strong-buy” rating to a “hold” rating in a research note on Monday. Finally, Melius Research set a $2,350.00 price objective on Sandisk in a research note on Monday, May 18th. Two research analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $1,998.14.

Sandisk Stock Performance

Shares of Sandisk stock opened at $1,692.59 on Friday. The company has a market capitalization of $247.83 billion, a P/E ratio of 23.22, a P/E/G ratio of 0.18 and a beta of 5.17. The company has a fifty day moving average of $1,520.00 and a 200 day moving average of $1,321.26. Sandisk Corporation has a fifty-two week low of $81.38 and a fifty-two week high of $2,354.39.

Sandisk (NASDAQ:SNDK) last issued its quarterly 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. The business 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 quarterly revenue was up 371.6% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.29 EPS. Sandisk has set its Q1 2027 guidance at 44.000-46.000 EPS. Analysts forecast that Sandisk Corporation will post 208.92 EPS for the current year.

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

Insider Transactions at Sandisk

In related news, insider Bernard Shek sold 2,308 shares of the stock in a transaction dated Tuesday, September 8th. The stock was sold at an average price of $1,767.33, for a total transaction of $4,078,997.64. Following the completion of the sale, the insider owned 25,305 shares in the company, valued at approximately $44,722,285.65. This trade represents a 8.36% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 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 value of $7,259,212.96. Following the sale, the executive vice president owned 44,134 shares of the company’s stock, valued at $67,991,957.72. This represents a 9.65% 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 ninety days, insiders sold 9,220 shares of company stock valued at $14,829,223. Corporate insiders own 0.21% of the company’s stock.

More Sandisk News

Here are the key news stories impacting Sandisk this week:

• 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 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.