Waverly Advisors LLC Trims Stock Holdings in Sandisk Corporation $SNDK

Waverly Advisors LLC decreased its holdings in shares of Sandisk Corporation (NASDAQ:SNDK) by 28.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,768 shares of the data storage provider’s stock after selling 696 shares during the quarter. Waverly Advisors LLC’s holdings in Sandisk were worth $4,020,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in the stock. California State Teachers Retirement System boosted its holdings in shares of Sandisk by 235,032.6% in the second quarter. California State Teachers Retirement System now owns 380,392,755 shares of the data storage provider’s stock worth $864,910,419,000 after acquiring an additional 380,230,977 shares during the period. BlackRock Inc. purchased a new position in shares of Sandisk in the second quarter valued at $23,408,732,000. State Street Corp raised its stake in shares of Sandisk by 20.7% during the 4th quarter. State Street Corp now owns 5,281,522 shares of the data storage provider’s stock valued at $1,253,728,000 after purchasing an additional 904,933 shares during the period. Geode Capital Management LLC raised its stake in shares of Sandisk by 44.9% during the 4th quarter. Geode Capital Management LLC now owns 3,655,860 shares of the data storage provider’s stock valued at $866,310,000 after purchasing an additional 1,133,276 shares during the period. Finally, Arrowstreet Capital Limited Partnership lifted its holdings in Sandisk by 31.3% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 3,478,002 shares of the data storage provider’s stock worth $825,608,000 after purchasing an additional 828,332 shares in the last quarter.

Insider Activity

In related news, EVP Alper Ilkbahar sold 4,712 shares of the company’s stock in a transaction that occurred on Thursday, September 3rd. The shares were sold at an average price of $1,540.58, for a total value of $7,259,212.96. Following the transaction, the executive vice president directly owned 44,134 shares in the company, valued at approximately $67,991,957.72. This represents 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 accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Bernard Shek sold 2,308 shares of the firm’s stock in a transaction that occurred on Tuesday, September 8th. The shares were sold at an average price of $1,767.33, for a total transaction of $4,078,997.64. Following the completion of the sale, the insider directly owned 25,305 shares in the company, valued at $44,722,285.65. This represents a 8.36% 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 have sold 9,220 shares of company stock valued at $14,829,223 in the last three months. 0.21% of the stock is owned by insiders.

Sandisk Stock Down 3.5%

Sandisk stock opened at $1,633.35 on Friday. Sandisk Corporation has a 52 week low of $82.28 and a 52 week high of $2,354.39. The business has a 50-day simple moving average of $1,517.76 and a 200 day simple moving average of $1,323.44. The stock has a market cap of $239.15 billion, a price-to-earnings ratio of 22.41, a PEG ratio of 0.17 and a beta of 5.17.

Sandisk (NASDAQ:SNDK) last announced its earnings results on Wednesday, August 5th. The data storage provider reported $39.25 earnings per share for the quarter, topping analysts’ consensus estimates of $33.28 by $5.97. Sandisk had a return on equity of 87.84% and a net margin of 56.47%.The business had revenue of $8.96 billion for the quarter. During the same quarter in the prior year, the company earned $0.29 earnings per share. Sandisk’s revenue was up 371.6% compared to the same quarter last year. Sandisk has set its Q1 2027 guidance at 44.000-46.000 EPS. On average, research analysts anticipate that Sandisk Corporation will post 208.92 earnings per share for the current year.

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

Wall Street Analysts Forecast Growth

Several research analysts have commented on SNDK shares. Wells Fargo & Company raised their target price on 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. Bank of America upped their price target on Sandisk from $2,100.00 to $2,500.00 and gave the company a “buy” rating in a research report on Wednesday, July 1st. UBS Group reissued an “overweight” rating and issued a $1,750.00 price target on shares of Sandisk in a report on Friday, August 14th. Argus upgraded shares of Sandisk from a “hold” rating to a “buy” rating in a research report on Monday, August 10th. Finally, Evercore reaffirmed an “outperform” rating on shares of Sandisk in a research note on Thursday, August 13th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $1,998.14.

Sandisk News Roundup

Here are the key news stories impacting Sandisk this week:

• Positive Sentiment: SanDisk remains a major beneficiary of rising artificial-intelligence infrastructure spending. Analysts point to multi-year contracted revenue, stronger NAND demand and the potential for sustained pricing power among memory suppliers. The Next Phase of the AI Boom Could Be Great News for NVIDIA, Micron, and SanDisk
• Positive Sentiment: A bullish long-term view argues that SanDisk’s emphasis on longer-term contractual pricing could reduce the historical volatility of NAND markets. Management’s projections for strong revenue growth and gross margins above 80% through 2030 support the optimistic thesis. Sandisk Shares Could Double (Or More) By 2030
• Positive Sentiment: Memory stocks initially received support from continued AI spending, including developments involving Oracle, helping SanDisk rise in premarket trading before broader selling emerged later in the session. Why Are Memory Chip Stocks Rising in Pre-Market Trading?
• Neutral Sentiment: SanDisk’s 2,107% one-year advance has made valuation and momentum major investor considerations. The exceptional gain increases the likelihood of profit-taking, even if the underlying AI opportunity remains intact. Morningstar on SanDisk’s 2,107% Year
• Neutral Sentiment: Investor commentary is divided: some see substantial long-term upside, while another analysis warns that the current NAND upcycle could weaken by 2027. This highlights the stock’s sensitivity to memory pricing and cyclical demand. Sandisk: NAND Party Likely To End In 2027
• Negative Sentiment: Storage and memory equities sold off as concerns about software efficiency and the sustainability of AI-related spending weighed on the sector. Seagate’s decline reinforced the industry-wide pressure. SanDisk Stock Drops Friday Afternoon
• Negative Sentiment: Investors continued taking profits after the sharp rally, while higher oil prices and inflation concerns raised fears of higher interest rates—particularly negative for high-beta technology stocks such as SNDK. Why Are Memory Stocks Falling?

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.