975 Shares in Sandisk Corporation $SNDK Acquired by Perigon Wealth Management LLC

Perigon Wealth Management LLC bought a new position in shares of Sandisk Corporation (NASDAQ:SNDK) during the 2nd quarter, Holdings Channel reports. The institutional investor bought 975 shares of the data storage provider’s stock, valued at approximately $2,217,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. State Street Corp boosted its position in shares of Sandisk by 20.7% during the fourth quarter. State Street Corp now owns 5,281,522 shares of the data storage provider’s stock worth $1,253,728,000 after buying an additional 904,933 shares during the period. Geode Capital Management LLC boosted its position in Sandisk by 44.9% during 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 during the last quarter. Arrowstreet Capital Limited Partnership grew its stake in shares of Sandisk by 31.3% during 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. 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. Finally, Norges Bank bought a new stake in shares of Sandisk in the fourth quarter worth $518,889,000.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. Raymond James Financial restated an “outperform” rating and set a $1,470.00 price objective on shares of Sandisk in a research note on Friday, May 1st. Wedbush reiterated an “outperform” rating and set a $2,000.00 target price on shares of Sandisk in a report on Friday. Argus raised Sandisk from a “hold” rating to a “buy” rating in a research report on Monday, August 10th. UBS Group restated an “overweight” rating and issued a $1,750.00 price target on shares of Sandisk in a research note on Friday. Finally, Weiss Ratings lowered Sandisk from a “hold (c+)” rating to a “hold (c)” rating in a research report on Friday. Three 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 company’s stock. According to data from MarketBeat, the company has an average rating of “Buy” and a consensus target price of $1,999.27.

Sandisk Stock Up 8.9%

Sandisk stock opened at $1,786.85 on Tuesday. The company’s 50-day moving average price is $1,670.76 and its two-hundred day moving average price is $1,195.28. The stock has a market cap of $264.61 billion, a P/E ratio of 24.51, a P/E/G ratio of 0.16 and a beta of 5.21. Sandisk Corporation has a twelve month low of $43.20 and a twelve month high of $2,354.39.

Sandisk (NASDAQ:SNDK) last announced its earnings results on Wednesday, August 5th. The data storage provider reported $39.25 earnings per share for the quarter, topping analysts’ consensus estimates of $33.28 by $5.97. The company had revenue of $8.96 billion for the quarter. Sandisk had a return on equity of 87.84% and a net margin of 56.47%.Sandisk’s revenue for the quarter 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. Equities analysts anticipate that Sandisk Corporation will post 208.92 earnings per share for the current fiscal year.

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

Key Headlines Impacting Sandisk

Here are the key news stories impacting Sandisk this week:

• Positive Sentiment: Investor Day highlighted substantial future demand. SanDisk reported a $93.9 billion customer backlog and outlined projections for strong revenue growth through 2030. Management also indicated that long-term contracts provide multiyear volume and pricing visibility, helping support the view that AI-driven storage demand could be more durable than prior memory cycles. SanDisk’s Analyst Day Just Strengthened Micron’s $1,550 Bull Case
• Positive Sentiment: AI memory demand fueled a sector-wide rally. Comments from Elon Musk about the growing memory and storage requirements of agentic AI, along with reports that Washington is encouraging Apple to move away from Chinese DRAM suppliers, boosted SanDisk and other memory-chip companies. The potential shift toward U.S. suppliers strengthened the near-term industry narrative. Elon Musk Just Uttered 3 Massively Bullish Words for Micron, Sandisk, and SK Hynix
• Positive Sentiment: Analysts continued to endorse the outlook. Bernstein described SanDisk’s high-bandwidth flash as potentially a “game changer” for AI, while Wedbush reiterated its Outperform rating and JPMorgan initiated coverage. Investors were also encouraged by management’s plans to significantly increase capital returns to shareholders. Bernstein Analyst Calls SanDisk’s High Bandwidth Flash a Game Changer for AI
• Neutral Sentiment: Hedge-fund positioning was mixed. Appaloosa Management sold its SanDisk position in the second quarter while reallocating toward larger AI companies. The move may signal profit-taking after the stock’s dramatic year-to-date rally, but it does not necessarily challenge SanDisk’s operating fundamentals. David Tepper Cuts Micron Stake, Exits SanDisk
• Negative Sentiment: Valuation and margin durability remain concerns. Critics argue that the current valuation assumes unusually strong pricing and margins will persist, despite much of recent growth being price-driven rather than volume-driven. A normalization in flash-memory pricing, stronger yen, or weaker AI spending could create significant downside. SanDisk: Every Bounce Looks Like a Trap

Insider Transactions at Sandisk

In other Sandisk news, EVP Alper Ilkbahar sold 2,000 shares of Sandisk stock in a transaction dated 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 in the company, valued at $92,531,364.66. The trade was a 3.66% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Bernard Shek sold 600 shares of Sandisk stock in a transaction that occurred 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 of the company’s stock, valued at approximately $35,928,176.40. The trade was a 1.90% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 3,800 shares of company stock worth $6,504,856. 0.21% of the stock is owned by 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.