321 Shares in Sandisk Corporation $SNDK Purchased by Summit Global Investments

Summit Global Investments acquired a new position in shares of Sandisk Corporation (NASDAQ:SNDK) in the 2nd quarter, according to its most recent filing with the SEC. The fund acquired 321 shares of the data storage provider’s stock, valued at approximately $730,000.

A number of other hedge funds have also made changes to their positions in SNDK. Osaic Holdings Inc. acquired a new stake in shares of Sandisk in the second quarter worth approximately $317,000. Merit Financial Group LLC acquired a new position in Sandisk in the 3rd quarter valued at $408,000. Dimensional Fund Advisors LP acquired a new position in Sandisk in the 3rd quarter valued at $100,080,000. First Trust Advisors LP purchased a new position in Sandisk in the 3rd quarter valued at $9,788,000. Finally, Blair William & Co. IL purchased a new position in Sandisk in the 3rd quarter valued at $591,000.

Insider Activity

In other Sandisk news, insider Bernard Shek sold 600 shares of Sandisk 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 directly owned 30,915 shares of the company’s stock, valued at $35,928,176.40. The trade was 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 the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Alper Ilkbahar sold 2,000 shares of Sandisk 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 directly owned 52,677 shares in the company, valued at $92,531,364.66. This trade represents a 3.66% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 3,800 shares of company stock valued at $6,504,856. 0.21% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. Royal Bank Of Canada upped their target price on shares of Sandisk from $1,300.00 to $1,600.00 and gave the stock a “sector perform” rating in a report on Friday. Morgan Stanley raised 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 note on Wednesday, June 3rd. Zacks Research upgraded shares of Sandisk from a “hold” rating to a “strong-buy” rating in a research report on Thursday, July 30th. Sanford C. Bernstein restated an “outperform” rating on shares of Sandisk in a research report on Thursday, August 6th. Finally, Mizuho set a $1,900.00 price objective on shares of Sandisk in a research note on Friday. Three analysts have rated the stock with a Strong Buy rating, twenty have given a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $1,999.27.

More Sandisk News

Here are the key news stories impacting Sandisk this week:

• Positive Sentiment: Sandisk outlined an ambitious long-term financial model, including approximately 80% gross margins, 75% operating margins, 50% free-cash-flow margins and mid-to-high-teens revenue growth through the end of the decade. Management also highlighted long-term customer agreements intended to reduce exposure to the traditional memory boom-and-bust cycle. SanDisk Surges 55% From its July Low: Wall Street Just Got a New Roadmap
• Positive Sentiment: J.P. Morgan began coverage with an Overweight rating and a $2,250 price target, while Wedbush reaffirmed Outperform with a $2,000 target. Evercore ISI also maintained its Buy rating and $2,800 target. The recommendations reinforce expectations for additional earnings growth and potential shareholder returns. Sandisk Stock Tops the S&P 500 as Analysts Rally Behind Its AI Expansion
• Positive Sentiment: Analysts are raising earnings estimates following strong quarterly results and the Investor Day presentation. The company’s latest quarter significantly exceeded consensus expectations, while AI data-center demand and new flash-storage products are viewed as key growth catalysts.
• Positive Sentiment: Broader market conditions also helped: softer inflation data reduced expectations for a September Federal Reserve rate hike, supporting technology and semiconductor stocks. A strong sector-wide memory rally amplified buying in SNDK.

Sandisk Stock Up 7.4%

Shares of SNDK opened at $1,641.11 on Friday. Sandisk Corporation has a 52-week low of $42.82 and a 52-week high of $2,354.39. The company has a market capitalization of $243.03 billion, a PE ratio of 22.51, a price-to-earnings-growth ratio of 0.16 and a beta of 5.20. The stock has a fifty day simple moving average of $1,667.87 and a two-hundred day simple moving average of $1,181.08.

Sandisk (NASDAQ:SNDK) last posted its quarterly earnings results on Wednesday, August 5th. The data storage provider reported $39.25 EPS for the quarter, topping the consensus estimate of $33.28 by $5.97. The business 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%.The firm’s revenue was up 371.6% on a year-over-year basis. 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. As a group, equities analysts anticipate that Sandisk Corporation will post 208.92 earnings per share for the current fiscal year.

Sandisk declared that its board has approved a share repurchase plan on Wednesday, August 5th that allows the company to repurchase $14.00 billion in outstanding shares. This repurchase authorization allows the data storage provider to repurchase up to 6.6% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board believes its stock is undervalued.

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.