AI Squared Management Ltd Takes $16.83 Million Position in Sandisk Corporation $SNDK

AI Squared Management Ltd acquired a new stake in shares of Sandisk Corporation (NASDAQ:SNDK - Free Report) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 7,400 shares of the data storage provider's stock, valued at approximately $16,826,000. Sandisk accounts for 9.0% of AI Squared Management Ltd's investment portfolio, making the stock its 3rd largest holding.

Several other hedge funds and other institutional investors also recently bought and sold shares of SNDK. Valley Wealth Managers Inc. bought a new position in shares of Sandisk during the first quarter valued at approximately $25,000. Greenline Wealth Management LLC purchased a new stake in Sandisk in the 4th quarter valued at about $26,000. Chung Wu Investment Group LLC purchased a new stake in Sandisk in the 4th quarter valued at about $27,000. IMG Wealth Management Inc. bought a new position in Sandisk in the 1st quarter worth about $29,000. Finally, Dunhill Financial LLC bought a new position in Sandisk in the 2nd quarter worth about $30,000.

Key Sandisk News

Here are the key news stories impacting Sandisk this week:

• Positive Sentiment: Sandisk introduced new SATA and NVMe solid-state drives for high-performance network-attached storage (NAS), targeting prosumers, small businesses and private-cloud users. The expansion could diversify demand beyond hyperscale customers and strengthen its competitive position against Micron and Seagate. Can Sandisk's NAS Expansion Help It Challenge MU & STX?
• Positive Sentiment: Some analysts and market commentators remain bullish on Sandisk’s long-term earnings potential, arguing that accelerating artificial-intelligence data creation should increase demand for storage. One published view cited a potential $3,000 price target, although such targets are highly dependent on continued memory-market strength. SanDisk Stock Trades at $1,600 with Analysts Eyeing $3,000 Target
• Neutral Sentiment: Technical analysts expect substantial volatility in AI-memory stocks in the coming weeks but remain constructive over the longer term. This supports the bullish thesis while warning investors that sharp swings and options-related risks may continue. Danielle Shay on MU, SNDK & STX Technical Analysis, Options Strategies
• Neutral Sentiment: Sandisk’s latest quarterly results were exceptionally strong, with revenue up 371.6% year over year and earnings exceeding consensus estimates. However, the stock’s very large rally has raised expectations, making future results and guidance increasingly important to valuation.
• Negative Sentiment: Bearish commentary argues that Sandisk’s valuation may be pricing in an unusually favorable memory cycle and could underestimate the industry’s historical cyclicality. Any slowdown in pricing, demand or margins could therefore trigger a significant correction. Sandisk: Bulls Are Misjudging Its Valuation And Cyclicality
• Negative Sentiment: Investors are also concerned that increased Chinese competition or supply pressure could undermine Sandisk’s pricing power and disrupt its parabolic rally. The new NAS products were not enough to offset those broader concerns during Friday’s session. SanDisk Stock Has Gone Parabolic. How China Could End the Party

Sandisk Trading Down 0.3%

NASDAQ:SNDK opened at $1,596.08 on Friday. The stock has a 50 day moving average of $1,655.56 and a two-hundred day moving average of $1,220.12. The firm has a market cap of $233.70 billion, a P/E ratio of 21.89, a price-to-earnings-growth ratio of 0.16 and a beta of 5.20. Sandisk Corporation has a 12 month low of $45.63 and a 12 month high of $2,354.39.

Sandisk (NASDAQ:SNDK - Get Free Report) last issued its earnings results on Wednesday, August 5th. The data storage provider reported $39.25 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. Sandisk had a net margin of 56.47% and a return on equity of 87.84%. Sandisk's quarterly revenue was up 371.6% on a year-over-year basis. During the same quarter last year, the company earned $0.29 earnings per share. Sandisk has set its Q1 2027 guidance at 44.000-46.000 EPS. On average, research analysts forecast that Sandisk Corporation will post 208.92 earnings per share for the current year.

Sandisk announced that its Board of Directors has authorized a share repurchase plan on Wednesday, August 5th that authorizes the company to buyback $14.00 billion in shares. This buyback authorization authorizes the data storage provider to repurchase up to 6.6% of its stock through open market purchases. Stock buyback plans are typically an indication that the company's board of directors believes its shares are undervalued.

Insider Buying and Selling at Sandisk

In related news, EVP Alper Ilkbahar sold 2,000 shares of the firm'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 completion of the sale, 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Bernard Shek sold 600 shares of the firm's 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 sale, the insider owned 30,915 shares of the company's stock, valued at approximately $35,928,176.40. The trade was a 1.90% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 3,800 shares of company stock worth $6,504,856. Insiders own 0.21% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. Raymond James Financial restated an "outperform" rating and issued a $1,470.00 price objective on shares of Sandisk in a report on Friday, May 1st. Susquehanna lowered their target price on Sandisk from $3,250.00 to $3,050.00 and set a "positive" rating for the company in a report on Thursday, July 23rd. Wedbush reiterated an "outperform" rating and set a $2,000.00 price objective on shares of Sandisk in a report on Friday, August 14th. Evercore reissued an "outperform" rating on shares of Sandisk in a research report on Thursday, August 13th. Finally, Zacks Research upgraded shares of Sandisk from a "hold" rating to a "strong-buy" rating in a report on Thursday, July 30th. Three research analysts have rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and three have given a Hold rating to the company. According to MarketBeat, the stock presently has a consensus 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source