Empowered Funds LLC Acquires Shares of 22,599 Sandisk Corporation $SNDK

Empowered Funds LLC bought a new position in Sandisk Corporation (NASDAQ:SNDK) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 22,599 shares of the data storage provider’s stock, valued at approximately $51,384,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Handelsbanken Fonder AB lifted its position in Sandisk by 35.1% during the second quarter. Handelsbanken Fonder AB now owns 57,564 shares of the data storage provider’s stock valued at $130,885,000 after buying an additional 14,964 shares during the period. Allworth Financial LP increased its stake in shares of Sandisk by 84.2% during the fourth quarter. Allworth Financial LP now owns 4,521 shares of the data storage provider’s stock valued at $1,073,000 after purchasing an additional 2,067 shares in the last quarter. Tredje AP fonden purchased a new position in shares of Sandisk during the fourth quarter valued at approximately $7,821,000. ProShare Advisors LLC boosted its position in shares of Sandisk by 1,301.5% in the 4th quarter. ProShare Advisors LLC now owns 33,637 shares of the data storage provider’s stock worth $7,985,000 after purchasing an additional 31,237 shares in the last quarter. Finally, FourThought Financial Partners LLC bought a new stake in shares of Sandisk in the 4th quarter worth approximately $422,000.

Insider Transactions at Sandisk

In other Sandisk news, EVP Alper Ilkbahar sold 2,000 shares of the stock in a transaction on Monday, June 1st. The shares were 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 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Bernard Shek sold 600 shares of Sandisk stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $1,162.16, for a total transaction of $697,296.00. Following the completion of 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. 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. In the last 90 days, insiders have sold 3,800 shares of company stock valued at $6,504,856. Company insiders own 0.21% of the company’s stock.

Sandisk Stock Down 1.0%

Shares of NASDAQ:SNDK opened at $1,484.95 on Friday. The firm’s 50 day moving average price is $1,609.87 and its 200-day moving average price is $1,248.71. Sandisk Corporation has a twelve month low of $48.56 and a twelve month high of $2,354.39. The stock has a market capitalization of $217.43 billion, a PE ratio of 20.37, a price-to-earnings-growth ratio of 0.15 and a beta of 5.20.

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

Sandisk announced that its Board of Directors has initiated a stock buyback program on Wednesday, August 5th that permits the company to repurchase $14.00 billion in shares. This repurchase authorization permits the data storage provider to reacquire up to 6.6% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s board of directors believes its shares are undervalued.

Wall Street Analysts Forecast Growth

SNDK has been the subject of several analyst reports. Citigroup reduced their price target on Sandisk from $2,500.00 to $2,100.00 and set a “buy” rating for the company in a report on Thursday, August 6th. Zacks Research upgraded shares of Sandisk from a “hold” rating to a “strong-buy” rating in a research note on Thursday, July 30th. Sanford C. Bernstein reaffirmed an “outperform” rating on shares of Sandisk in a report on Thursday, August 6th. Evercore reiterated an “outperform” rating on shares of Sandisk in a research note on Thursday, August 13th. Finally, Bank of America increased their price target on shares of Sandisk from $2,100.00 to $2,500.00 and gave the company a “buy” rating in a report on Wednesday, July 1st. Three analysts have rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Buy” and a consensus target price of $1,998.14.

Key Stories Impacting Sandisk

Here are the key news stories impacting Sandisk this week:

• Positive Sentiment: Sandisk and Kioxia announced plans to invest more than $31 billion in Japanese memory-manufacturing infrastructure through 2032, contingent on government support. The spending should expand flash-memory capacity, reinforce their long-standing joint venture and strengthen Sandisk’s position in the AI-driven storage market. Kioxia and Sandisk investment announcement
• Positive Sentiment: Analyst commentary remains favorable, citing AI and cloud demand, firm memory pricing, supply constraints and multiyear customer agreements as drivers of stronger near-term growth. Zacks also identified Sandisk among storage-device companies benefiting from momentum in AI, data centers, automotive and IoT. Zacks Sandisk comparison
• Neutral Sentiment: Nvidia’s strong earnings and comments pointing to tight memory availability initially supported Sandisk and other memory stocks. However, the broader AI optimism has not translated into sustained buying as investors reassess company-specific risks and the stock’s elevated valuation.
• Negative Sentiment: A report that the Trump administration may consider additional restrictions affecting memory-chip exports has pressured the sector, raising concerns about Sandisk’s access to Chinese customers and potential disruption to industry trade flows. Memory stocks policy concerns
• Negative Sentiment: Investors are also watching growing NAND competition from China’s YMTC, which is targeting greater global market share by 2027. Increased supply could weaken pricing and margins over time. YMTC NAND competition
• Negative Sentiment: Mizuho lowered its expectations for Sandisk’s stock price, adding to the cautious tone after the shares’ substantial recent appreciation. Mizuho Sandisk price target report

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.