Elm3 Financial Group LLC lifted its position in Sandisk Corporation (NASDAQ:SNDK – Free Report) by 302.3% in the third quarter, HoldingsChannel.com reports. The firm owned 688 shares of the data storage provider’s stock after purchasing an additional 517 shares during the quarter. Elm3 Financial Group LLC’s holdings in Sandisk were worth $1,197,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently modified their holdings of the company. BlackRock Inc. bought a new position in Sandisk in the 2nd quarter worth $23,408,732,000. Evergreen Quality Fund GP Ltd. purchased a new position in shares of Sandisk in the fourth quarter valued at about $255,848,000. Arrowstreet Capital Limited Partnership boosted its stake in shares of Sandisk by 31.3% in the fourth 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 during the period. Situational Awareness LP boosted its stake in shares of Sandisk by 42.4% in the second quarter. Situational Awareness LP now owns 2,495,344 shares of the data storage provider’s stock worth $5,673,739,000 after acquiring an additional 743,325 shares during the period. Finally, Bank of New York Mellon Corp purchased a new stake in shares of Sandisk during the second quarter worth about $1,621,353,000.
Sandisk Trading Up 1.9%
Shares of SNDK stock traded up $31.96 on Wednesday, reaching $1,692.42. The company’s stock had a trading volume of 9,107,052 shares, compared to its average volume of 15,316,795. The stock’s fifty day simple moving average is $1,565.54 and its 200-day simple moving average is $1,457.01. Sandisk Corporation has a 1 year low of $116.17 and a 1 year high of $2,354.39. The company has a market capitalization of $247.80 billion, a price-to-earnings ratio of 23.22, a price-to-earnings-growth ratio of 0.17 and a beta of 5.23.
Sandisk announced that its Board of Directors has initiated a share repurchase 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 stock through open market purchases. Stock repurchase programs are usually an indication that the company’s leadership believes its shares are undervalued.
Key Headlines Impacting Sandisk
Here are the key news stories impacting Sandisk this week:
- Positive Sentiment: Memory stocks, including Sandisk, are outperforming a softer technology market as constrained supply and long-term customer commitments support pricing power. SanDisk and Micron Rise as Tight Memory Supply Outruns a Softer Tech Tape
- Positive Sentiment: Mizuho raised its Sandisk price target to $2,050 from $1,875 and maintained an “outperform” rating, citing growing demand from agentic AI and related semiconductor infrastructure. Mizuho Raises AMD and SanDisk Stock Price Targets on Agentic AI Demand
- Positive Sentiment: Sandisk’s reported $93.9 billion NAND bit memory contract book, customer financial guarantees, and sharp growth in data-center revenue highlight strong hyperscaler demand and improving revenue visibility. Sandisk: Customer Money Is Keeping Pace With the Contract Boom
- Positive Sentiment: Zacks added SNDK to its Rank #1 “Strong Buy” and momentum lists, reinforcing favorable near-term sentiment. Best Momentum Stocks to Buy for October 6th
- Neutral Sentiment: Binance is reportedly the leading venue for Sandisk perpetual-futures liquidity, ahead of OKX and Hyperliquid. This may increase trading activity but does not directly change Sandisk’s business fundamentals. Binance Leads SanDisk Perpetuals Liquidity
- Negative Sentiment: Premarket selling earlier in the session reflected profit-taking after the semiconductor sector’s powerful October rally. Analysts also caution that Sandisk’s growth is heavily dependent on memory pricing, while Micron offers broader exposure across memory products and a custom high-bandwidth-memory partnership with Nvidia. Sandisk and Micron AI Memory Stock Comparison
Analysts Set New Price Targets
Several brokerages recently issued reports on SNDK. Zacks Research downgraded Sandisk from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 7th. Cantor Fitzgerald reissued an “overweight” rating and issued a $2,900.00 target price (up from $1,800.00) on shares of Sandisk in a report on Monday, August 10th. JPMorgan Chase & Co. began coverage on shares of Sandisk in a research report on Friday, August 14th. They set an “overweight” rating and a $2,250.00 target price for the company. Sanford C. Bernstein reaffirmed an “outperform” rating and set a $3,000.00 target price (up from $1,700.00) on shares of Sandisk in a research note on Thursday, August 6th. Finally, Arete Research lifted their price target on shares of Sandisk from $2,300.00 to $3,000.00 and gave the company a “buy” rating in a report on Thursday, August 27th. Two analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, Sandisk presently has a consensus rating of “Moderate Buy” and a consensus target price of $2,120.65.
Insider Buying and Selling at Sandisk
In other news, CFO Luis Visoso sold 1,000 shares of the business’s stock in a transaction dated Tuesday, September 15th. The shares were sold at an average price of $1,568.83, for a total value of $1,568,830.00. Following the sale, the chief financial officer directly owned 130,976 shares in the company, valued at $205,479,078.08. The trade was a 0.76% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Alper Ilkbahar sold 4,712 shares of the company’s stock in a transaction dated Thursday, September 3rd. The shares were sold at an average price of $1,540.58, for a total transaction of $7,259,212.96. Following the sale, the executive vice president owned 44,134 shares in the company, valued at $67,991,957.72. This represents a 9.65% decrease in their ownership of the stock. 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 90 days, insiders have sold 77,899 shares of company stock valued at $121,159,122. Corporate insiders own 0.21% of the company’s stock.
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.
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