Algert Global LLC Has $265.21 Million Position in Sandisk Corporation $SNDK

Algert Global LLC raised its stake in Sandisk Corporation (NASDAQ:SNDK - Free Report) by 1.1% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 116,642 shares of the data storage provider's stock after buying an additional 1,262 shares during the quarter. Sandisk accounts for about 3.1% of Algert Global LLC's portfolio, making the stock its largest position. Algert Global LLC owned approximately 0.08% of Sandisk worth $265,212,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in SNDK. Dogwood Wealth Management LLC boosted its stake in Sandisk by 14.3% during the 2nd quarter. Dogwood Wealth Management LLC now owns 48 shares of the data storage provider's stock worth $109,000 after acquiring an additional 6 shares during the last quarter. Castle Rock Wealth Management LLC boosted its position in shares of Sandisk by 2.4% during the second quarter. Castle Rock Wealth Management LLC now owns 426 shares of the data storage provider's stock worth $969,000 after purchasing an additional 10 shares in the last quarter. Legacy Wealth Asset Management LLC grew its holdings in shares of Sandisk by 1.6% in the 2nd quarter. Legacy Wealth Asset Management LLC now owns 772 shares of the data storage provider's stock valued at $1,755,000 after buying an additional 12 shares during the period. GHP Investment Advisors Inc. grew its holdings in shares of Sandisk by 12.0% in the 1st quarter. GHP Investment Advisors Inc. now owns 121 shares of the data storage provider's stock valued at $77,000 after buying an additional 13 shares during the period. Finally, Versant Capital Management Inc grew its holdings in shares of Sandisk by 2.5% in the 2nd quarter. Versant Capital Management Inc now owns 527 shares of the data storage provider's stock valued at $1,198,000 after buying an additional 13 shares during the period.

Key Stories Impacting Sandisk

Here are the key news stories impacting Sandisk this week:

• Positive Sentiment: AI-driven demand remains a major growth catalyst. Surging data-center revenue, multi-year contracts and improving revenue visibility have helped support Sandisk’s recent rally and could sustain demand for its storage products. SNDK Jumps 25% in a Month: Is there More Room for the Stock to Rise?
• Positive Sentiment: NAND pricing continues to benefit Sandisk. TrendForce expects prices to rise another 10% to 15% this quarter after an estimated 70% to 75% increase in the prior period; Sandisk indicated that higher pricing drove approximately two-thirds of its latest sequential revenue growth. Sandisk Rode an Estimated 70% Jump in NAND Prices
• Positive Sentiment: Sandisk was highlighted as a profitable company with strong net income and earnings growth. Its planned $14 billion share-repurchase authorization could provide additional support after the stock’s substantial 2026 advance. $27 Billion in Buybacks: 3 Stocks Betting Their Strong Runs Aren’t Over

Insider Activity

In related news, EVP Alper Ilkbahar sold 2,000 shares of the stock in a transaction that occurred on Monday, June 1st. The stock was 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 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Bernard Shek sold 600 shares of the company's stock in a transaction that occurred on Monday, August 3rd. The stock was 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. This represents a 1.90% 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. Insiders sold a total of 3,800 shares of company stock valued at $6,504,856 in the last 90 days. 0.21% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several analysts recently commented on the company. The Goldman Sachs Group reaffirmed a "buy" rating and set a $2,200.00 price objective on shares of Sandisk in a research note on Thursday, August 13th. Zacks Research upgraded Sandisk from a "hold" rating to a "strong-buy" rating in a report on Thursday, July 30th. Morgan Stanley boosted their price objective on Sandisk from $1,100.00 to $1,750.00 and gave the company an "overweight" rating in a research report on Wednesday, June 3rd. UBS Group reissued an "overweight" rating and set a $1,750.00 target price on shares of Sandisk in a research note on Friday, August 14th. Finally, Bank of America raised their target price on shares of Sandisk from $2,100.00 to $2,500.00 and gave the stock a "buy" rating in a report on Wednesday, July 1st. 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's stock. Based on data from MarketBeat, the stock presently has an average rating of "Buy" and an average price target of $1,999.27.

Sandisk Stock Down 6.5%

NASDAQ:SNDK opened at $1,493.12 on Tuesday. The company has a market cap of $218.62 billion, a P/E ratio of 20.48, a price-to-earnings-growth ratio of 0.16 and a beta of 5.21. Sandisk Corporation has a twelve month low of $46.01 and a twelve month high of $2,354.39. The business has a 50 day moving average price of $1,643.27 and a two-hundred day moving average price of $1,229.65.

Sandisk (NASDAQ:SNDK - Get Free Report) last announced its quarterly earnings data on Wednesday, August 5th. The data storage provider reported $39.25 EPS for the quarter, topping analysts' consensus estimates of $33.28 by $5.97. The business 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 business's revenue for the quarter was up 371.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.29 EPS. Sandisk has set its Q1 2027 guidance at 44.000-46.000 EPS. As a group, analysts anticipate that Sandisk Corporation will post 208.92 earnings per share for the current fiscal year.

Sandisk announced that its Board of Directors 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 buy up to 6.6% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company's board of directors believes its stock is 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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