Connor Clark & Lunn Investment Management Ltd. Acquires Shares of 18,420 Sandisk Corporation $SNDK

Connor Clark & Lunn Investment Management Ltd. bought a new position in Sandisk Corporation (NASDAQ:SNDK) in the second quarter, HoldingsChannel.com reports. The fund bought 18,420 shares of the data storage provider’s stock, valued at approximately $41,882,000.

Other large investors also recently modified their holdings of the company. Valley Wealth Managers Inc. acquired a new stake in shares of Sandisk in the 1st quarter valued at $25,000. Greenline Wealth Management LLC acquired a new position in shares of Sandisk during the fourth quarter valued at $26,000. Chung Wu Investment Group LLC bought a new position in Sandisk in the fourth quarter valued at about $27,000. IMG Wealth Management Inc. bought a new position in Sandisk in the first quarter valued at about $29,000. Finally, Dunhill Financial LLC acquired a new stake in Sandisk in the second quarter worth about $30,000.

Key Headlines Impacting Sandisk

Here are the key news stories impacting Sandisk this week:

• Positive Sentiment: AI-driven demand remains a major growth catalyst. Surging data-center revenue, multi-year contracts and improving revenue visibility have helped support Sandisk’s recent rally and could sustain demand for its storage products. SNDK Jumps 25% in a Month: Is there More Room for the Stock to Rise?
• Positive Sentiment: NAND pricing continues to benefit Sandisk. TrendForce expects prices to rise another 10% to 15% this quarter after an estimated 70% to 75% increase in the prior period; Sandisk indicated that higher pricing drove approximately two-thirds of its latest sequential revenue growth. Sandisk Rode an Estimated 70% Jump in NAND Prices
• Positive Sentiment: Sandisk was highlighted as a profitable company with strong net income and earnings growth. Its planned $14 billion share-repurchase authorization could provide additional support after the stock’s substantial 2026 advance. $27 Billion in Buybacks: 3 Stocks Betting Their Strong Runs Aren’t Over

Sandisk Stock Down 6.5%

Shares of SNDK stock opened at $1,493.12 on Tuesday. The firm has a fifty day moving average of $1,643.27 and a 200-day moving average of $1,229.65. Sandisk Corporation has a 12-month low of $46.01 and a 12-month high of $2,354.39. The company has a market capitalization of $218.62 billion, a price-to-earnings ratio of 20.48, a P/E/G ratio of 0.16 and a beta of 5.21.

Sandisk (NASDAQ:SNDK) last posted its quarterly earnings data 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 for the quarter. Sandisk had a net margin of 56.47% and a return on equity of 87.84%. The company’s revenue was up 371.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.29 earnings per share. Sandisk has set its Q1 2027 guidance at 44.000-46.000 EPS. On average, equities analysts expect that Sandisk Corporation will post 208.92 EPS for the current year.

Sandisk announced that its board has initiated a share buyback 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 purchase up to 6.6% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s leadership believes its shares are undervalued.

Wall Street Analysts Forecast Growth

SNDK has been the subject of several analyst reports. Evercore reiterated an “outperform” rating on shares of Sandisk in a research report on Thursday, August 13th. Barclays upgraded 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 research report on Tuesday, May 26th. Sanford C. Bernstein reiterated an “outperform” rating on shares of Sandisk in a report on Thursday, August 6th. UBS Group reaffirmed an “overweight” rating and issued a $1,750.00 price target on shares of Sandisk in a research note on Friday, August 14th. Finally, Susquehanna reduced their price objective on shares of Sandisk from $3,250.00 to $3,050.00 and set a “positive” rating on the stock in a research note on Thursday, July 23rd. Three equities research analysts have rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, Sandisk presently has an average rating of “Buy” and an average target price of $1,999.27.

Insider Activity

In other news, EVP Alper Ilkbahar sold 2,000 shares of the company’s 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 completion of the transaction, the executive vice president directly owned 52,677 shares of the company’s stock, valued at $92,531,364.66. This represents a 3.66% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Bernard Shek sold 600 shares of the stock in a transaction dated Monday, August 3rd. The stock was sold at an average price of $1,162.16, for a total value of $697,296.00. Following the transaction, the insider owned 30,915 shares of the company’s stock, valued at approximately $35,928,176.40. The trade was a 1.90% 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. Insiders sold a total of 3,800 shares of company stock worth $6,504,856 in the last three months. Company insiders own 0.21% of the company’s stock.

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.