713,081 Shares in Sandisk Corporation $SNDK Acquired by Bank of New York Mellon Corp

Key Points

• Bank of New York Mellon acquired 713,081 Sandisk shares valued at approximately $1.62 billion, giving it a 0.48% stake as of the latest reporting period.
• Sandisk reported quarterly EPS of $39.25, well above the $33.28 consensus estimate, while revenue surged 371.6% year over year to $8.96 billion. The company also authorized a $14 billion share buyback, covering up to 6.6% of outstanding shares.
• Analysts maintain a consensus “Buy” rating with an average price target of $1,999.27, although concerns remain about extreme volatility, insider selling, profit-taking by some investors, and the sustainability of revenue gains tied heavily to NAND pricing.

Bank of New York Mellon Corp acquired a new stake in Sandisk Corporation (NASDAQ:SNDK - Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 713,081 shares of the data storage provider's stock, valued at approximately $1,621,353,000. Bank of New York Mellon Corp owned approximately 0.48% of Sandisk at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Valley Wealth Managers Inc. acquired a new stake in Sandisk in the first quarter valued at $25,000. Greenline Wealth Management LLC purchased a new position in shares of Sandisk in the fourth quarter valued at $26,000. Chung Wu Investment Group LLC acquired a new position in shares of Sandisk during the 4th quarter worth $27,000. IMG Wealth Management Inc. acquired a new position in shares of Sandisk during the 1st quarter worth $29,000. Finally, Parallel Advisors LLC acquired a new position in shares of Sandisk during the 3rd quarter worth $30,000.

Insiders Place Their Bets

In related news, insider Bernard Shek sold 600 shares of the stock in a transaction dated 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 transaction, the insider directly owned 30,915 shares in the company, valued at approximately $35,928,176.40. This represents a 1.90% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed 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 company's stock in a transaction dated 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 transaction, the executive vice president directly owned 52,677 shares of the company's stock, valued at approximately $92,531,364.66. This represents a 3.66% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 3,800 shares of company stock valued at $6,504,856. Company 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: Wall Street is increasingly focused on SanDisk’s long-term earnings potential. Rising AI-generated data is expected to drive demand for high-capacity NAND storage, while the company’s contract-based sales strategy could make results and margins more predictable than in past memory cycles. SanDisk’s long-term financial outlook is turning heads on Wall Street
• Positive Sentiment: Several analyses argue that AI infrastructure demand could support substantially higher earnings and potentially enable margins near 80%, challenging the view that SanDisk remains solely a commodity memory producer. From Commodity to Cash Machine? SanDisk Targets 80% Margins in AI Storage Boom
• Positive Sentiment: Market commentary remains bullish on SanDisk’s upside earnings potential despite weakness across memory stocks, with the broader thesis that every additional byte created by AI requires a storage destination. SanDisk Thesis: Every Byte AI Creates Needs A Home
• Neutral Sentiment: Technical traders are watching for a rebound toward the mid-$1,600s, with resistance near $1,696.50 and support around $1,485. This suggests elevated volatility rather than a clear change in fundamentals. What’s Going On With SanDisk Stock Thursday?
• Neutral Sentiment: Investor opinion is divided after the stock’s extraordinary 12-month advance; some hedge funds remain optimistic, while others are reducing exposure or taking profits. SanDisk Is Up 3,911% Over Twelve Months
• Negative Sentiment: Shares faced pressure alongside Micron and other memory companies as an Asian technology selloff highlighted continuing sector volatility. Why Are Micron and SanDisk Stocks Falling Today
• Negative Sentiment: Investors are questioning the durability of SanDisk’s record revenue because roughly two-thirds reportedly came from pricing, leaving results vulnerable if NAND prices weaken. SanDisk drops before OCP Korea Tech Day
• Negative Sentiment: Appaloosa, managed by David Tepper, exited its entire 281,250-share SanDisk position during the quarter in which the stock reached its recent high, adding profit-taking and valuation concerns. David Tepper Sold His Entire Sandisk Stake

Analyst Ratings Changes

Several research firms have weighed in on SNDK. Melius Research set a $2,350.00 target price on shares of Sandisk in a report on Monday, May 18th. Raymond James Financial reaffirmed an "outperform" rating and issued a $1,470.00 price target on shares of Sandisk in a report on Friday, May 1st. UBS Group reiterated an "overweight" rating and issued a $1,750.00 price target on shares of Sandisk in a research report on Friday, August 14th. New Street Research set a $3,000.00 price target on shares of Sandisk in a research report on Thursday, August 6th. Finally, Wells Fargo & Company raised their price objective on shares of 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. Three analysts have rated the stock with a Strong Buy rating, twenty have issued a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average target price of $1,999.27.

Sandisk Price Performance

NASDAQ:SNDK opened at $1,600.62 on Friday. The firm has a 50 day simple moving average of $1,663.24 and a 200-day simple moving average of $1,217.48. The firm has a market cap of $234.36 billion, a PE ratio of 21.96, a P/E/G ratio of 0.16 and a beta of 5.20. Sandisk Corporation has a 1-year low of $43.56 and a 1-year high of $2,354.39.

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

Sandisk declared that its Board of Directors has authorized a share buyback plan on Wednesday, August 5th that authorizes the company to repurchase $14.00 billion in outstanding 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 generally an indication that the company's leadership believes its shares are undervalued.

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.

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