Sandisk Corporation $SNDK Shares Bought by Mezzasalma Advisors LLC

Mezzasalma Advisors LLC increased its stake in Sandisk Corporation (NASDAQ:SNDK) by 21.3% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,074 shares of the data storage provider’s stock after buying an additional 364 shares during the period. Mezzasalma Advisors LLC’s holdings in Sandisk were worth $3,609,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in SNDK. Atomic Invest LLC acquired a new position in Sandisk in the second quarter worth $25,000. Dunhill Financial LLC bought a new position in Sandisk in the 2nd quarter worth approximately $30,000. Mowery & Schoenfeld Wealth Management LLC bought a new stake in Sandisk during the 2nd quarter valued at $32,000. Kilter Group LLC bought a new stake in shares of Sandisk during the second quarter valued at about $32,000. Finally, KERR FINANCIAL PLANNING Corp bought a new stake in shares of Sandisk during the second quarter valued at about $34,000.

More Sandisk News

Here are the key news stories impacting Sandisk this week:

• Positive Sentiment: SanDisk announced a data-storage partnership with Meta Platforms to support Meta’s VR Glasses, potentially expanding its exposure to growing AI, virtual-reality and data-storage demand. SanDisk Stock Drops Despite Meta Partnership
• Positive Sentiment: Some analysts and market commentators continue to view SNDK as a buy-the-dip opportunity, citing strong AI-driven memory demand, constrained supply and long-term growth prospects. One forecast projects a potential $3,000 price target over two years. AI Memory Chip Selloff Looks Overblown
• Positive Sentiment: S&P Global upgraded SanDisk’s credit rating to BBB from BB+, reflecting stronger cash flows and rising AI-related memory demand. SanDisk Credit Rating Upgrade
• Neutral Sentiment: Market participants are weighing whether the recent memory-stock selloff is temporary or signals the first meaningful crack in the industry’s supercycle. Bullish views point to robust NAND pricing, long-term contracts and SanDisk’s data-center exposure.
• Negative Sentiment: Shares faced sector-wide selling after Chinese memory manufacturer CXMT outlined ambitions to compete in high-end server memory. Investors fear increased supply could pressure pricing, margins and SanDisk’s market share. Why Memory Stocks Are Falling
• Negative Sentiment: Hotter-than-expected U.S. inflation increased concerns about interest rates and pressured high-beta technology stocks. Broader worries about AI funding and semiconductor valuations added to the selling pressure.

Sandisk Trading Down 5.3%

Shares of NASDAQ SNDK traded down $78.99 during midday trading on Wednesday, reaching $1,403.34. The company’s stock had a trading volume of 7,246,719 shares, compared to its average volume of 15,128,366. The company has a 50 day moving average price of $1,599.14 and a 200 day moving average price of $1,492.85. Sandisk Corporation has a one year low of $130.50 and a one year high of $2,354.39. The company has a market cap of $202.82 billion, a price-to-earnings ratio of 19.25, a price-to-earnings-growth ratio of 0.15 and a beta of 5.23.

Sandisk (NASDAQ:SNDK) last released its earnings results on Wednesday, August 5th. The data storage provider reported $39.25 EPS for the quarter, beating the consensus estimate of $33.28 by $5.97. The business 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 firm’s revenue for the quarter was up 371.6% on a year-over-year basis. During the same period in the prior year, the company earned $0.29 earnings per share. Sandisk has set its Q1 2027 guidance at 44.000-46.000 EPS. Research analysts anticipate that Sandisk Corporation will post 208.94 earnings per share for the current fiscal year.

Sandisk declared that its Board of Directors has authorized a share buyback program on Wednesday, August 5th that authorizes the company to buy back $14.00 billion in outstanding shares. This repurchase authorization authorizes the data storage provider to repurchase up to 6.6% of its stock through open market purchases. Share repurchase programs are often an indication that the company’s board of directors believes its shares are undervalued.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the stock. China Renaissance increased their target price on shares of Sandisk from $2,000.00 to $2,250.00 and gave the company a “buy” rating in a research report on Wednesday, August 19th. Argus raised shares of Sandisk from a “hold” rating to a “buy” rating and set a $1,600.00 target price on the stock in a research note on Monday, August 10th. Susquehanna dropped their price target on shares of Sandisk from $3,050.00 to $2,745.00 and set a “positive” rating on the stock in a research report on Thursday, August 6th. Mizuho upped their price target on shares of Sandisk from $1,875.00 to $2,050.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 6th. Finally, Rosenblatt Securities initiated coverage on shares of Sandisk in a report on Tuesday, September 22nd. They issued a “buy” rating and a $2,400.00 price objective for the company. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $2,120.65.

Insider Buying and Selling

In related news, insider Bernard Shek sold 600 shares of Sandisk stock in a transaction on Thursday, October 1st. The stock was sold at an average price of $1,734.94, for a total value of $1,040,964.00. Following the transaction, the insider directly owned 25,588 shares in the company, valued at $44,393,644.72. The trade was a 2.29% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Alper Ilkbahar sold 4,712 shares of the business’s 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 directly owned 44,134 shares in the company, valued at $67,991,957.72. This trade represents a 9.65% decrease in their ownership of the stock. 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. Insiders have sold a total of 77,899 shares of company stock worth $121,159,122 over the last quarter. 0.29% of the stock is currently owned by insiders.

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.