2,010 Shares in Sandisk Corporation $SNDK Purchased by Citizens Financial Group Inc. RI

Key Points

• Citizens Financial Group acquired 2,010 Sandisk shares worth approximately $4.6 million in the second quarter, while several other institutional investors also initiated or expanded positions.
• Sandisk reported strong quarterly results, with EPS of $39.25 beating estimates and revenue rising 371.6% year over year to $8.96 billion. The company also authorized a $14 billion share-repurchase program, covering up to 6.6% of outstanding shares.
• Analysts maintain a broadly bullish outlook, with a consensus “Buy” rating and $1,999.27 price target, but high valuation and questions about margin durability remain risks; insiders have also sold $6.5 million of stock over the past 90 days.

Citizens Financial Group Inc. RI acquired a new stake in Sandisk Corporation (NASDAQ:SNDK - Free Report) in the 2nd quarter, according to the company in its most recent filing with the SEC. The firm acquired 2,010 shares of the data storage provider's stock, valued at approximately $4,569,000.

Other hedge funds have also recently modified their holdings of the company. Osaic Holdings Inc. purchased a new position in shares of Sandisk in the 2nd quarter worth approximately $317,000. Merit Financial Group LLC bought a new stake in Sandisk during the third quarter worth $408,000. Dimensional Fund Advisors LP purchased a new position in Sandisk in the third quarter worth $100,080,000. First Trust Advisors LP purchased a new position in Sandisk in the third quarter worth $9,788,000. Finally, Blair William & Co. IL bought a new position in Sandisk in the 3rd quarter valued at $591,000.

Key Stories Impacting Sandisk

Here are the key news stories impacting Sandisk this week:

• Positive Sentiment: Investor Day highlighted substantial future demand. SanDisk reported a $93.9 billion customer backlog and outlined projections for strong revenue growth through 2030. Management also indicated that long-term contracts provide multiyear volume and pricing visibility, helping support the view that AI-driven storage demand could be more durable than prior memory cycles. SanDisk’s Analyst Day Just Strengthened Micron’s $1,550 Bull Case
• Positive Sentiment: AI memory demand fueled a sector-wide rally. Comments from Elon Musk about the growing memory and storage requirements of agentic AI, along with reports that Washington is encouraging Apple to move away from Chinese DRAM suppliers, boosted SanDisk and other memory-chip companies. The potential shift toward U.S. suppliers strengthened the near-term industry narrative. Elon Musk Just Uttered 3 Massively Bullish Words for Micron, Sandisk, and SK Hynix
• Positive Sentiment: Analysts continued to endorse the outlook. Bernstein described SanDisk’s high-bandwidth flash as potentially a “game changer” for AI, while Wedbush reiterated its Outperform rating and JPMorgan initiated coverage. Investors were also encouraged by management’s plans to significantly increase capital returns to shareholders. Bernstein Analyst Calls SanDisk’s High Bandwidth Flash a Game Changer for AI
• Neutral Sentiment: Hedge-fund positioning was mixed. Appaloosa Management sold its SanDisk position in the second quarter while reallocating toward larger AI companies. The move may signal profit-taking after the stock’s dramatic year-to-date rally, but it does not necessarily challenge SanDisk’s operating fundamentals. David Tepper Cuts Micron Stake, Exits SanDisk
• Negative Sentiment: Valuation and margin durability remain concerns. Critics argue that the current valuation assumes unusually strong pricing and margins will persist, despite much of recent growth being price-driven rather than volume-driven. A normalization in flash-memory pricing, stronger yen, or weaker AI spending could create significant downside. SanDisk: Every Bounce Looks Like a Trap

Analyst Ratings Changes

A number of equities research analysts have recently commented on the company. Barclays upgraded Sandisk from an "equal weight" rating to an "overweight" rating and lifted their target price for the stock from $1,200.00 to $2,300.00 in a research note on Tuesday, May 26th. The Goldman Sachs Group reiterated a "buy" rating and issued a $2,200.00 target price on shares of Sandisk in a research note on Thursday. Bank of America raised their price target on shares of Sandisk from $2,100.00 to $2,500.00 and gave the stock a "buy" rating in a research note on Wednesday, July 1st. New Street Research set a $3,000.00 price objective on Sandisk in a research note on Thursday, August 6th. Finally, Weiss Ratings lowered Sandisk from a "hold (c+)" rating to a "hold (c)" rating in a report on Friday. Three investment analysts have rated the stock with a Strong Buy rating, twenty have issued a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Buy" and a consensus price target of $1,999.27.

Insider Buying and Selling at Sandisk

In other news, EVP Alper Ilkbahar sold 2,000 shares of Sandisk stock in a transaction on Monday, June 1st. The stock was 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. The trade was a 3.66% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Bernard Shek sold 600 shares of the business's stock in a transaction on Monday, August 3rd. The shares were sold at an average price of $1,162.16, for a total value of $697,296.00. Following 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 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 worth $6,504,856. Company insiders own 0.21% of the company's stock.

Sandisk Stock Up 8.9%

SNDK opened at $1,786.85 on Tuesday. The firm has a 50-day moving average price of $1,670.76 and a 200-day moving average price of $1,195.28. Sandisk Corporation has a twelve month low of $43.20 and a twelve month high of $2,354.39. The company has a market capitalization of $264.61 billion, a price-to-earnings ratio of 24.51, a PEG ratio of 0.16 and a beta of 5.21.

Sandisk (NASDAQ:SNDK - Get Free Report) last released its quarterly earnings data 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. Sandisk had a net margin of 56.47% and a return on equity of 87.84%. The company had revenue of $8.96 billion during the quarter. During the same period last year, the business posted $0.29 earnings per share. The firm's quarterly revenue was up 371.6% on a year-over-year basis. Sandisk has set its Q1 2027 guidance at 44.000-46.000 EPS. On average, sell-side analysts expect that Sandisk Corporation will post 208.92 earnings per share for the current fiscal year.

Sandisk declared that its board has approved a share repurchase plan on Wednesday, August 5th that permits the company to repurchase $14.00 billion in shares. This repurchase authorization permits 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 management believes its shares are undervalued.

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.

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