Parallel Advisors LLC Has $909,000 Stock Holdings in Sandisk Corporation $SNDK

Parallel Advisors LLC boosted its holdings in shares of Sandisk Corporation (NASDAQ:SNDK) by 233.3% during the first quarter, HoldingsChannel reports. The fund owned 1,430 shares of the data storage provider’s stock after purchasing an additional 1,001 shares during the quarter. Parallel Advisors LLC’s holdings in Sandisk were worth $909,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Valley Wealth Managers Inc. acquired a new position in shares of Sandisk during the first quarter worth $25,000. IMG Wealth Management Inc. acquired a new stake in Sandisk in the first quarter valued at $29,000. SOA Wealth Advisors LLC. raised its position in Sandisk by 108.0% during the 1st quarter. SOA Wealth Advisors LLC. now owns 52 shares of the data storage provider’s stock worth $33,000 after purchasing an additional 27 shares during the last quarter. Cedar Mountain Advisors LLC raised its position in Sandisk by 2,750.0% during the 1st quarter. Cedar Mountain Advisors LLC now owns 57 shares of the data storage provider’s stock worth $36,000 after purchasing an additional 55 shares during the last quarter. Finally, Roble Belko & Company Inc acquired a new position in Sandisk during the 1st quarter worth about $39,000.

Sandisk Stock Performance

Sandisk stock opened at $1,212.21 on Friday. The stock has a market capitalization of $179.52 billion, a price-to-earnings ratio of 16.63 and a beta of 5.20. Sandisk Corporation has a 52-week low of $41.00 and a 52-week high of $2,354.39. The stock’s 50 day moving average price is $1,699.98 and its two-hundred day moving average price is $1,148.38.

Sandisk (NASDAQ:SNDK) last released 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. The company had revenue of $8.96 billion during the quarter. Sandisk had a net margin of 56.47% and a return on equity of 87.84%. The business’s revenue was up 371.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.29 EPS. Sandisk has set its Q1 2027 guidance at 44.000-46.000 EPS. On average, equities research analysts forecast that Sandisk Corporation will post 187.19 EPS for the current year.

Sandisk declared that its Board of Directors has authorized a share repurchase program on Wednesday, August 5th that permits the company to buyback $14.00 billion in outstanding shares. This buyback authorization permits the data storage provider to purchase up to 6.6% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s leadership believes its shares are undervalued.

Insider Activity

In other 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 transaction, the insider owned 30,915 shares in the company, valued at approximately $35,928,176.40. This represents a 1.90% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Michael Pokorny sold 2,446 shares of the stock in a transaction dated Tuesday, May 12th. The stock was sold at an average price of $1,426.18, for a total transaction of $3,488,436.28. Following the transaction, the chief accounting officer directly owned 22,375 shares in the company, valued at $31,910,777.50. This trade represents a 9.85% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 6,246 shares of company stock worth $9,993,292. Company insiders own 0.21% of the company’s stock.

Sandisk News Summary

Here are the key news stories impacting Sandisk this week:

• Positive Sentiment: SanDisk reported adjusted EPS of $39.25 and revenue of approximately $8.97 billion, beating consensus estimates. Revenue increased 371.6% year over year, driven by stronger NAND pricing, higher volumes and a 437% surge in data-center revenue. SNDK Q4 Earnings Beat Estimates
• Positive Sentiment: The company authorized a $14 billion share-repurchase program, potentially retiring up to 6.6% of outstanding shares. The buyback signals management’s confidence in the business and could support per-share earnings. SanDisk to Buy Back $14 Billion in Shares
• Positive Sentiment: Bullish analysts argue that AI-driven storage demand, high-bandwidth flash products and long-term customer agreements could make SanDisk less cyclical. Contracts reportedly include roughly $93.9 billion in minimum revenue commitments, with some agreements backed by financial guarantees. SanDisk Upgrade
• Neutral Sentiment: Analyst opinion is divided. Some firms upgraded SanDisk and see substantial upside from AI infrastructure, while Jefferies reduced its price target to $1,750 from $3,000 because of NAND pricing and margin concerns, though it retained a Buy rating. Jefferies Cuts SanDisk Price Target
• Negative Sentiment: Fiscal first-quarter revenue guidance of $10.3 billion to $10.8 billion was slightly below some Wall Street estimates. Investors interpreted the outlook as evidence that growth and pricing may be moderating, despite the quarterly beat. Why SanDisk Stock Is Falling
• Negative Sentiment: Investors are also questioning whether current margins can persist as SanDisk’s new business model gives up some near-term margin for longer-term volume, pricing discipline and visibility. The stock’s sharp prior advance has left little room for execution mistakes, while NAND oversupply or slower AI spending remains a major risk.

Wall Street Analysts Forecast Growth

SNDK has been the subject of several recent research reports. Citigroup decreased their price target on Sandisk from $2,500.00 to $2,100.00 and set a “buy” rating for the company in a research note on Thursday. Wedbush upped their target price on Sandisk from $1,200.00 to $2,000.00 and gave the company an “outperform” rating in a report on Thursday, July 9th. Wells Fargo & Company decreased their target price on shares of Sandisk from $1,620.00 to $1,400.00 and set an “equal weight” rating for the company in a research report on Thursday. Barclays upgraded shares of Sandisk from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $1,200.00 to $2,300.00 in a report on Tuesday, May 26th. Finally, Morgan Stanley boosted their price target on shares of Sandisk from $1,100.00 to $1,750.00 and gave the stock an “overweight” rating in a research report on Wednesday, June 3rd. Three research analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat, Sandisk currently has a consensus rating of “Moderate Buy” and an average price target of $1,853.14.

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.