Sandisk Corporation $SNDK Stock Sold by State of Alaska Department of Revenue

State of Alaska Department of Revenue decreased its holdings in shares of Sandisk Corporation (NASDAQ:SNDK) by 8.3% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 20,739 shares of the data storage provider’s stock after selling 1,878 shares during the quarter. State of Alaska Department of Revenue’s holdings in Sandisk were worth $36,082,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the business. BlackRock Inc. acquired a new stake in shares of Sandisk in the second quarter valued at about $23,408,732,000. Situational Awareness LP boosted its position in Sandisk by 42.4% during 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 last quarter. Wellington Management Group LLP boosted its position in Sandisk by 71.2% during the second quarter. Wellington Management Group LLP now owns 1,066,886 shares of the data storage provider’s stock worth $2,425,811,000 after acquiring an additional 443,714 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in Sandisk by 57.4% during the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 726,722 shares of the data storage provider’s stock worth $1,652,370,000 after acquiring an additional 264,935 shares during the last quarter. Finally, Bank of New York Mellon Corp purchased a new stake in Sandisk during the 2nd quarter valued at about $1,621,353,000.

Analysts Set New Price Targets

A number of analysts have commented on the stock. China Renaissance increased their price objective on shares of Sandisk from $2,000.00 to $2,250.00 and gave the company a “buy” rating in a report on Wednesday, August 19th. Wells Fargo & Company raised their target price on shares of Sandisk from $1,400.00 to $1,550.00 and gave the stock an “equal weight” rating in a research note on Thursday, August 13th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $2,900.00 price target (up from $1,800.00) on shares of Sandisk in a report on Monday, August 10th. Zacks Research upgraded Sandisk from a “hold” rating to a “strong-buy” rating in a research report on Tuesday. Finally, The Goldman Sachs Group reiterated a “buy” rating and set a $2,200.00 price objective (up from $1,200.00) on shares of Sandisk in a research report on Thursday, August 13th. Three investment analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, Sandisk currently has an average rating of “Moderate Buy” and a consensus price target of $2,120.65.

Insiders Place Their Bets

In other Sandisk news, EVP Alper Ilkbahar sold 4,712 shares of Sandisk stock in a transaction on 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 in the company, valued at $67,991,957.72. The trade was a 9.65% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO David Goeckeler sold 33,841 shares of Sandisk stock in a transaction on Thursday, September 17th. The shares were sold at an average price of $1,574.21, for a total value of $53,272,840.61. Following the completion of the sale, the chief executive officer owned 382,865 shares in the company, valued at $602,709,911.65. This represents a 8.12% decrease in their position. 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 77,899 shares of company stock valued at $121,159,122. 0.29% of the stock is currently owned by insiders.

Trending Headlines about Sandisk

Here are the key news stories impacting Sandisk this week:

• Positive Sentiment: Zacks Research upgraded Sandisk from “hold” to “strong buy,” adding a favorable analyst signal after the recent pullback.
• Positive Sentiment: Sandisk’s data-storage partnership with Meta Platforms for Meta VR Glasses supports the company’s exposure to growing AI, virtual-reality and high-performance storage demand. SanDisk Stock Drops Despite a Data Storage Partnership with Meta
• Positive Sentiment: Some analysts view the decline as a buying opportunity, citing strong AI infrastructure demand, robust NAND pricing and Sandisk’s long-term contract backlog. One bullish view places a potential target at $3,000, while other commentary argues that fears of a memory-cycle breakdown are premature. AI Memory Chip Selloff Looks Overblown
• Neutral Sentiment: TSMC’s indication that AI-chip demand remains greater than supply supports the long-term outlook for memory suppliers, but it has not offset near-term concerns about valuation, competition and sector-wide risk reduction.
• Negative Sentiment: Reports that CXMT has made progress in designing and developing server memory are raising fears that Chinese competition could eventually pressure Sandisk’s market share, pricing power and profit margins. Memory Stocks Extend Slide Following News of Design Breakthrough in China
• Negative Sentiment: The memory-stock selloff has broadened across Sandisk, Micron, SK hynix and Samsung, with roughly $1 trillion in combined market value reportedly erased since October 2. A broader AI-trade unwind and an expected eighth consecutive decline for the semiconductor ETF SOXX are adding selling pressure. Chip Meltdown Hits Memory Makers
• Negative Sentiment: Hotter-than-expected U.S. inflation data has increased concern about interest rates and reduced appetite for high-beta technology stocks, further weighing on Sandisk despite its strong AI-related growth prospects. Why Memory Stocks Are Falling

Sandisk Price Performance

Shares of SNDK traded down $66.34 during mid-day trading on Thursday, reaching $1,337.00. The stock had a trading volume of 8,979,076 shares, compared to its average volume of 15,096,294. Sandisk Corporation has a 52-week low of $136.29 and a 52-week high of $2,354.39. The business’s fifty day moving average is $1,599.14 and its 200 day moving average is $1,492.85. The firm has a market cap of $193.23 billion, a price-to-earnings ratio of 18.30, a P/E/G ratio of 0.15 and a beta of 5.23.

Sandisk (NASDAQ:SNDK) last issued its earnings results on Wednesday, August 5th. The data storage provider reported $39.25 EPS 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 net margin of 56.47% and a return on equity of 87.84%. Sandisk’s revenue for the quarter was up 371.6% on a year-over-year basis. During the same period last year, the firm earned $0.29 earnings per share. Sandisk has set its Q1 2027 guidance at 44.000-46.000 EPS. As a group, sell-side analysts anticipate that Sandisk Corporation will post 208.94 EPS for the current fiscal year.

Sandisk announced that its Board of Directors has initiated a share repurchase program on Wednesday, August 5th that allows the company to repurchase $14.00 billion in shares. This buyback authorization allows the data storage provider to purchase up to 6.6% of its stock through open market purchases. Share buyback programs are often a sign that the company’s management believes its shares are undervalued.

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.