NewEdge Wealth LLC Takes Position in Sandisk Corporation $SNDK

NewEdge Wealth LLC bought a new position in Sandisk Corporation (NASDAQ:SNDK) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 13,157 shares of the data storage provider’s stock, valued at approximately $29,916,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Osaic Holdings Inc. bought a new stake in Sandisk in the second quarter valued at $317,000. Merit Financial Group LLC acquired a new position in Sandisk during the third quarter worth $408,000. Dimensional Fund Advisors LP bought a new position in shares of Sandisk during the third quarter valued at $100,080,000. First Trust Advisors LP bought a new position in shares of Sandisk during the third quarter valued at $9,788,000. Finally, Blair William & Co. IL acquired a new stake in shares of Sandisk in the 3rd quarter valued at $591,000.

Insider Buying and Selling

In other Sandisk news, insider Bernard Shek sold 600 shares of the company’s stock in a transaction on 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 completion of the sale, the insider owned 30,915 shares in the company, valued at approximately $35,928,176.40. The trade was a 1.90% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, 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 value of $3,513,160.00. Following the completion of the transaction, the executive vice president directly owned 52,677 shares in the company, valued at approximately $92,531,364.66. This trade represents a 3.66% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 3,800 shares of company stock worth $6,504,856. Insiders own 0.21% of the company’s stock.

Trending Headlines about Sandisk

Here are the key news stories impacting Sandisk this week:

• Positive Sentiment: Memory stocks rebounded in early trading after SK Hynix approved a roughly $29 billion share buyback and treasury-share cancellation. The broader sector strength provided support for Sandisk and reinforced investor confidence in favorable memory-market conditions. SK Hynix Rises 6% on $29B Buyback, SanDisk Gains 5%, Micron Climbs 3% as Memory Names Rebound
• Positive Sentiment: Analysts and investors continue to highlight Sandisk’s AI-driven flash-storage demand and its shift toward contract-based sales. The strategy could make NAND revenue and margins more predictable, with management targeting gross margins near 80% and substantial free-cash-flow generation over the long term. From Commodity to Cash Machine? Sandisk Targets 80% Margins in AI Storage Boom
• Neutral Sentiment: Sandisk’s international revenue performance and strong recent earnings remain important factors in Wall Street forecasts, but the stock’s exceptional one-year gain has created disagreement among hedge funds over whether the long-term growth outlook justifies the valuation. Sandisk Corporation International Revenue Performance Explored
• Neutral Sentiment: Technical analysts see major resistance levels ahead, leaving the shares vulnerable to further consolidation unless they regain key support levels. Sandisk Price Forecast: Can SNDK Defend Its Recovery?
• Negative Sentiment: Investors are questioning earnings quality after reports indicated that approximately two-thirds of Sandisk’s record revenue growth came from pricing rather than volume. That raises concerns about how durable results will be if NAND prices moderate ahead of the company’s technology-day presentations. SanDisk Drops Before OCP Korea Tech Day
• Negative Sentiment: David Tepper’s Appaloosa disclosed that it sold all 281,250 Sandisk shares held at the end of the prior quarter, during the period when the stock reached its record high. The sale adds to profit-taking concerns after the parabolic advance. David Tepper Sold His Entire Sandisk Stake
• Negative Sentiment: Higher Treasury yields and a broader rotation away from crowded AI and semiconductor trades have pressured memory stocks, including Sandisk, Micron and Western Digital. The sector’s high beta makes SNDK particularly sensitive to changes in risk appetite. Higher Rates Test the Memory Boom

Sandisk Trading Down 3.5%

Sandisk stock opened at $1,568.87 on Thursday. The company has a market cap of $229.71 billion, a PE ratio of 21.52, a PEG ratio of 0.16 and a beta of 5.20. Sandisk Corporation has a 1 year low of $43.20 and a 1 year high of $2,354.39. The company’s 50-day moving average is $1,668.86 and its two-hundred day moving average is $1,210.26.

Sandisk (NASDAQ:SNDK) last issued 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 company 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 quarterly revenue was up 371.6% compared to the same quarter last year. 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. Research analysts forecast that Sandisk Corporation will post 208.92 EPS for the current year.

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

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on SNDK. Susquehanna lowered their target price on shares of Sandisk from $3,250.00 to $3,050.00 and set a “positive” rating on the stock in a report on Thursday, July 23rd. Citigroup decreased their price objective on shares of Sandisk from $2,500.00 to $2,100.00 and set a “buy” rating on the stock in a research note on Thursday, August 6th. The Goldman Sachs Group reaffirmed a “buy” rating and set a $2,200.00 price objective on shares of Sandisk in a report on Thursday, August 13th. Royal Bank Of Canada boosted their target price on Sandisk from $1,300.00 to $1,600.00 and gave the stock a “sector perform” rating in a report on Friday, August 14th. Finally, JPMorgan Chase & Co. assumed coverage on Sandisk in a research report on Friday, August 14th. They set an “overweight” rating and a $2,250.00 price target on the stock. 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. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $1,999.27.

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.