AIGH Capital Management LLC Acquires New Stake in Sandisk Corporation $SNDK

Key Points

• AIGH Capital Management acquired 149,000 Sandisk shares worth approximately $338.8 million, making SNDK its largest portfolio holding at 21.4% and representing about 0.10% of Sandisk’s shares.
• Sandisk reported a strong quarter, with adjusted EPS of $39.25 versus the $33.28 consensus and revenue of $8.96 billion, up 371.6% year over year. Management also announced a $14 billion share-repurchase program covering up to 6.6% of outstanding shares.
• Investor sentiment remains broadly positive, driven by AI data-center demand and ambitious long-term margin targets; analysts maintain a consensus “Buy” rating with a $1,999.27 price target, though insiders sold 3,800 shares worth $6.5 million over the past 90 days.

AIGH Capital Management LLC acquired a new position in shares of Sandisk Corporation (NASDAQ:SNDK - Free Report) in the second quarter, according to the company in its most recent filing with the SEC. The firm acquired 149,000 shares of the data storage provider's stock, valued at approximately $338,786,000. Sandisk makes up 21.4% of AIGH Capital Management LLC's investment portfolio, making the stock its biggest holding. AIGH Capital Management LLC owned approximately 0.10% of Sandisk as of its most recent filing with the SEC.

Several other institutional investors have also recently added to or reduced their stakes in the company. State Street Corp raised its position in shares of Sandisk by 20.7% in the fourth quarter. State Street Corp now owns 5,281,522 shares of the data storage provider's stock valued at $1,253,728,000 after buying an additional 904,933 shares during the last quarter. Geode Capital Management LLC grew its position in shares of Sandisk by 44.9% in the fourth quarter. Geode Capital Management LLC now owns 3,655,860 shares of the data storage provider's stock valued at $866,310,000 after purchasing an additional 1,133,276 shares during the period. Arrowstreet Capital Limited Partnership grew its position in shares of Sandisk by 31.3% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 3,478,002 shares of the data storage provider's stock valued at $825,608,000 after purchasing an additional 828,332 shares during the period. Morgan Stanley increased its stake in Sandisk by 7.2% in the fourth quarter. Morgan Stanley now owns 2,970,361 shares of the data storage provider's stock valued at $705,105,000 after purchasing an additional 199,545 shares during the last quarter. Finally, Norges Bank acquired a new position in Sandisk in the fourth quarter valued at $518,889,000.

Insider Activity

In related news, insider Bernard Shek sold 600 shares of the firm's stock in a transaction that occurred 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 transaction, the insider owned 30,915 shares in the company, valued at approximately $35,928,176.40. This trade represents a 1.90% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Alper Ilkbahar sold 2,000 shares of the firm's stock in a transaction that occurred on 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 transaction, the executive vice president owned 52,677 shares in the company, valued at $92,531,364.66. The trade was a 3.66% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 3,800 shares of company stock worth $6,504,856 over the last ninety days. Corporate insiders own 0.21% of the company's stock.

Key Headlines Impacting Sandisk

Here are the key news stories impacting Sandisk this week:

• Positive Sentiment: Sandisk outlined an ambitious long-term financial model, including approximately 80% gross margins, 75% operating margins, 50% free-cash-flow margins and mid-to-high-teens revenue growth through the end of the decade. Management also highlighted long-term customer agreements intended to reduce exposure to the traditional memory boom-and-bust cycle. SanDisk Surges 55% From its July Low: Wall Street Just Got a New Roadmap
• Positive Sentiment: J.P. Morgan began coverage with an Overweight rating and a $2,250 price target, while Wedbush reaffirmed Outperform with a $2,000 target. Evercore ISI also maintained its Buy rating and $2,800 target. The recommendations reinforce expectations for additional earnings growth and potential shareholder returns. Sandisk Stock Tops the S&P 500 as Analysts Rally Behind Its AI Expansion
• Positive Sentiment: Analysts are raising earnings estimates following strong quarterly results and the Investor Day presentation. The company’s latest quarter significantly exceeded consensus expectations, while AI data-center demand and new flash-storage products are viewed as key growth catalysts.
• Positive Sentiment: Broader market conditions also helped: softer inflation data reduced expectations for a September Federal Reserve rate hike, supporting technology and semiconductor stocks. A strong sector-wide memory rally amplified buying in SNDK.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on SNDK. New Street Research set a $3,000.00 target price on Sandisk in a research report on Thursday, August 6th. Zacks Research upgraded Sandisk from a "hold" rating to a "strong-buy" rating in a report on Thursday, July 30th. JPMorgan Chase & Co. initiated coverage on shares of Sandisk in a research note on Friday. They set an "overweight" rating and a $2,250.00 price objective for the company. Weiss Ratings lowered shares of Sandisk from a "buy (b-)" rating to a "hold (c+)" rating in a report on Tuesday, July 21st. Finally, Mizuho set a $1,900.00 target price on shares of Sandisk in a research report on Friday. Three research 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, the company currently has a consensus rating of "Buy" and a consensus price target of $1,999.27.

Sandisk Stock Performance

Shares of Sandisk stock opened at $1,641.11 on Monday. Sandisk Corporation has a twelve month low of $42.82 and a twelve month high of $2,354.39. The stock has a market capitalization of $243.03 billion, a P/E ratio of 22.51, a PEG ratio of 0.16 and a beta of 5.21. The business's fifty day moving average price is $1,667.87 and its 200 day moving average price is $1,186.09.

Sandisk (NASDAQ:SNDK - Get Free Report) last announced 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 return on equity of 87.84% and a net margin of 56.47%.The business's revenue was up 371.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.29 earnings per share. Sandisk has set its Q1 2027 guidance at 44.000-46.000 EPS. As a group, sell-side analysts predict that Sandisk Corporation will post 208.92 EPS for the current year.

Sandisk announced that its board has initiated a stock repurchase program on Wednesday, August 5th that allows the company to repurchase $14.00 billion in shares. This repurchase authorization allows the data storage provider to reacquire up to 6.6% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company's leadership 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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