III Capital Management Acquires Shares of 475 Sandisk Corporation $SNDK

III Capital Management acquired a new position in shares of Sandisk Corporation (NASDAQ:SNDK) during the second quarter, Holdings Channel reports. The fund acquired 475 shares of the data storage provider’s stock, valued at approximately $1,080,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. BlackRock Inc. bought a new position in shares of Sandisk during the second quarter valued at about $23,408,732,000. State Street Corp bought a new stake in Sandisk in the 3rd quarter worth about $491,053,000. Arrowstreet Capital Limited Partnership bought a new stake in Sandisk in the 3rd quarter worth about $297,293,000. Norges Bank purchased a new stake in Sandisk in the 4th quarter valued at about $518,889,000. Finally, Bank of America Corp DE purchased a new stake in Sandisk in the 3rd quarter valued at about $190,425,000.

Insiders Place Their Bets

In other Sandisk news, insider Bernard Shek sold 600 shares of the company’s stock in a transaction dated 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 sale, the insider directly owned 30,915 shares of the company’s stock, valued at $35,928,176.40. This represents a 1.90% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Alper Ilkbahar sold 2,000 shares of the stock in a transaction dated 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 of the company’s stock, valued at $92,531,364.66. This represents a 3.66% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 3,800 shares of company stock worth $6,504,856 in the last ninety days. Insiders own 0.21% of the company’s stock.

Sandisk News Summary

Here are the key news stories impacting Sandisk this week:

• Positive Sentiment: Optimism about an AI-driven memory cycle is supporting Sandisk and other NAND stocks. Analysts and market commentators argue that data-center demand, multi-year contracts, and stronger NAND pricing could leave room for further upside. One Reason to Be Bullish on SanDisk Stock
• Positive Sentiment: Recent coverage highlights Sandisk’s potential path toward an 80% margin target and a possible “token-battery” advantage, leading to a rating upgrade despite concerns about the company’s valuation and cyclical exposure. Sandisk: The Hidden Mechanism Behind Its 80% Margin Target
• Positive Sentiment: Mizuho maintained an Outperform rating and trimmed its price target only slightly, to $1,875, implying substantial potential upside from the reference price. Mizuho price target update
• Positive Sentiment: Zacks identified SNDK as a strong momentum stock, while prior coverage pointed to rapid data-center revenue growth, AI demand, and improving earnings visibility. Why Sandisk Is a Strong Momentum Stock
• Neutral Sentiment: Sandisk and other semiconductor stocks rebounded in premarket trading after Monday’s broad technology and memory-sector sell-off, but the recovery appears driven largely by sector sentiment rather than a new company-specific announcement. Memory Stocks Rebound After Sell-Off
• Negative Sentiment: Memory stocks remain under pressure after reports that Apple could source chips from Chinese suppliers, potentially increasing competition and weakening demand expectations for established suppliers. Samsung-related headwinds and profit-taking also weighed on the sector. Memory Stocks Slide on Apple Chinese Chip Report
• Negative Sentiment: Investors are also weighing Sandisk’s cyclicality and the sustainability of elevated NAND prices following a reported 70% jump in the prior period; TrendForce expects a more moderate 10%–15% increase this quarter, raising concerns about slowing price-driven growth. NAND Price Outlook

Sandisk Trading Down 0.8%

NASDAQ:SNDK opened at $1,480.77 on Wednesday. The stock has a market capitalization of $216.81 billion, a PE ratio of 20.31, a price-to-earnings-growth ratio of 0.15 and a beta of 5.20. The firm’s 50 day moving average is $1,633.05 and its 200 day moving average is $1,235.96. Sandisk Corporation has a 12 month low of $46.75 and a 12 month high of $2,354.39.

Sandisk (NASDAQ:SNDK) last announced its quarterly earnings data on Wednesday, August 5th. The data storage provider reported $39.25 earnings per share for the quarter, beating the consensus estimate of $33.28 by $5.97. Sandisk had a return on equity of 87.84% and a net margin of 56.47%.The business had revenue of $8.96 billion during the quarter. During the same period last year, the company posted $0.29 earnings per share. Sandisk’s revenue for the quarter was up 371.6% on a year-over-year basis. Sandisk has set its Q1 2027 guidance at 44.000-46.000 EPS. Research analysts predict that Sandisk Corporation will post 208.92 earnings per share for the current year.

Sandisk declared that its board has approved a share buyback program on Wednesday, August 5th that authorizes the company to repurchase $14.00 billion in shares. This repurchase authorization authorizes the data storage provider to repurchase up to 6.6% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s board of directors believes its shares are undervalued.

Analyst Ratings Changes

A number of brokerages have recently weighed in on SNDK. Jefferies Financial Group restated a “buy” rating on shares of Sandisk in a research note on Thursday, August 6th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $2,900.00 price target on shares of Sandisk in a research report on Monday, August 10th. Citigroup dropped their price target on Sandisk from $2,500.00 to $2,100.00 and set a “buy” rating on the stock in a report on Thursday, August 6th. Evercore restated an “outperform” rating on shares of Sandisk in a research note on Thursday, August 13th. Finally, Morgan Stanley raised their target price on Sandisk from $1,100.00 to $1,750.00 and gave the company an “overweight” rating in a research report on Wednesday, June 3rd. Three equities 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 MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $1,998.14.

About Sandisk

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.