3,148 Sandisk Corporation $SNDK Shares Acquired by Oppenheimer & Co. Inc.

Key Points

• Oppenheimer increased its Sandisk position by 161.4% in the third quarter, purchasing 3,148 additional shares and bringing its holdings to 5,099 shares valued at $8.87 million. Several other institutional investors also added or initiated positions.
• Sandisk reported quarterly EPS of $39.25, beating estimates of $33.28, while revenue surged 371.6% year over year to $8.96 billion. The board also authorized a $14 billion share-repurchase program, covering up to 6.6% of outstanding shares.
• Analyst sentiment remains favorable, with a consensus “Moderate Buy” rating and average price target of $2,093.73, supported by AI-related storage demand and tight memory supply. However, insiders—including the CEO—have sold shares under pre-arranged trading plans.

Oppenheimer & Co. Inc. raised its holdings in shares of Sandisk Corporation (NASDAQ:SNDK - Free Report) by 161.4% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,099 shares of the data storage provider's stock after purchasing an additional 3,148 shares during the quarter. Oppenheimer & Co. Inc.'s holdings in Sandisk were worth $8,872,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Handelsbanken Fonder AB boosted its position in shares of 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 last quarter. Focus Partners Advisor Solutions LLC purchased a new stake in Sandisk in the 2nd quarter valued at $4,775,000. Florida Financial Advisors LLC purchased a new stake in Sandisk in the 1st quarter valued at $2,747,000. UNICOM Systems Inc. raised its position in Sandisk by 14.9% in the 2nd quarter. UNICOM Systems Inc. now owns 58,500 shares of the data storage provider's stock valued at $133,013,000 after buying an additional 7,600 shares during the last quarter. Finally, Affinity Capital Advisors LLC bought a new position in Sandisk during the 2nd quarter valued at $2,506,000.

Sandisk Trading Up 3.9%

Shares of SNDK opened at $1,304.84 on Wednesday. The stock has a 50 day moving average of $1,576.10 and a 200 day moving average of $1,236.92. The company has a market capitalization of $188.59 billion, a price-to-earnings ratio of 17.90 and a beta of 5.23. Sandisk Corporation has a 12 month low of $164.56 and a 12 month high of $2,354.39.

Sandisk (NASDAQ:SNDK - Get Free Report) 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 business had revenue of $8.96 billion during the quarter. During the same period in the previous year, the business earned $0.29 EPS. Sandisk's revenue for the quarter was up 371.6% on a year-over-year basis. Sandisk has set its Q1 2027 guidance at 44.000-46.000 EPS. As a group, equities research analysts predict that Sandisk Corporation will post 208.94 earnings per share for the current year.

Sandisk announced that its board has approved a share repurchase program on Wednesday, August 5th that authorizes the company to buy back $14 billion in outstanding shares. This repurchase authorization authorizes the data storage provider to repurchase up to 6.6% of its stock through open market purchases. Share repurchase programs are often an indication that the company's board of directors believes its shares are undervalued.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on SNDK. China Renaissance lifted their price objective on shares of Sandisk from $2,000.00 to $2,250.00 and gave the stock a "buy" rating in a report on Wednesday, August 19th. The Goldman Sachs Group reiterated a "buy" rating and issued a $2,200.00 target price (up from $1,200.00) on shares of Sandisk in a research note on Thursday, August 13th. Wedbush reiterated an "outperform" rating and issued a $2,000.00 target price on shares of Sandisk in a report on Friday, August 14th. Zacks Research raised shares of Sandisk from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, October 13th. Finally, Arete Research boosted their price target on shares of Sandisk from $2,300.00 to $3,000.00 and gave the stock a "buy" rating in a report on Thursday, August 27th. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and four have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $2,093.73.

More Sandisk News

Here are the key news stories impacting Sandisk this week:

• Positive Sentiment: Strong earnings expectations: Analysts expect revenue growth supported by artificial-intelligence infrastructure demand, higher NAND pricing and expanding data-center sales. Management’s prior guidance called for approximately 18% sequential revenue growth at the midpoint, while the company’s Q1 EPS outlook is $44–$46. Pre-Q1 Earnings: Is Sandisk Stock a Portfolio Must-Have?
• Positive Sentiment: Analyst support remains favorable: Wedbush rated SNDK a buy ahead of the report, and Cantor Fitzgerald maintained an overweight rating despite reducing its price target from $2,900 to $2,200. Bullish analysts point to long-term hyperscaler agreements and margin protections that could improve earnings visibility through 2029–2030. SanDisk Stock Is a Buy, Says Wedbush
• Positive Sentiment: Memory-sector momentum: A Bank of America note reportedly said customers are locking in memory supply for multiple years, helping lift memory and storage stocks. This reinforces the view that tight supply and AI-related demand could support pricing. Bank of America Grows More Positive on Memory

Insiders Place Their Bets

In related news, insider Bernard Shek sold 600 shares of the firm's stock in a transaction dated Thursday, October 1st. The shares were sold at an average price of $1,734.94, for a total transaction of $1,040,964.00. Following the completion of the sale, the insider owned 25,588 shares in the company, valued at approximately $44,393,644.72. This trade represents a 2.29% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO David Goeckeler sold 33,841 shares of Sandisk stock in a transaction dated Thursday, September 17th. The stock was sold at an average price of $1,574.21, for a total transaction of $53,272,840.61. Following the completion of the sale, the chief executive officer directly owned 382,865 shares in the company, valued at approximately $602,709,911.65. This represents a 8.12% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 77,899 shares of company stock valued at $121,159,122. 0.29% of the stock is currently owned by company insiders.

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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