Assenagon Asset Management S.A. Takes $1.41 Billion Position in Sandisk Corporation $SNDK

Key Points

• Assenagon Asset Management acquired 621,849 Sandisk shares worth approximately $1.41 billion, making SNDK its ninth-largest holding and representing 0.42% of the company.
• Sandisk reported a strong quarter, with EPS of $39.25 beating estimates and revenue rising 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.
• Despite strong AI data-center demand and mostly bullish analyst ratings, shares have fallen sharply amid concerns about slowing forward growth, NAND oversupply and margin durability; insiders have also sold nearly $10 million of stock over the past 90 days.

Assenagon Asset Management S.A. purchased a new stake in 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 fund purchased 621,849 shares of the data storage provider's stock, valued at approximately $1,413,917,000. Sandisk makes up 1.8% of Assenagon Asset Management S.A.'s holdings, making the stock its 9th biggest holding. Assenagon Asset Management S.A. owned 0.42% of Sandisk as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Osaic Holdings Inc. purchased a new stake in shares of Sandisk during the 2nd quarter worth $317,000. Merit Financial Group LLC acquired a new position in shares of Sandisk during the 3rd quarter worth $408,000. Dimensional Fund Advisors LP purchased a new position in shares of Sandisk in the 3rd quarter valued at about $100,080,000. First Trust Advisors LP purchased a new position in shares of Sandisk in the 3rd quarter valued at about $9,788,000. Finally, Blair William & Co. IL acquired a new stake in shares of Sandisk in the third quarter valued at about $591,000.

Analysts Set New Price Targets

A number of research firms recently commented on SNDK. Morgan Stanley boosted their price objective on shares of Sandisk from $1,100.00 to $1,750.00 and gave the stock an "overweight" rating in a report on Wednesday, June 3rd. Citigroup reduced their price target on shares of Sandisk from $2,500.00 to $2,100.00 and set a "buy" rating for the company in a research report on Thursday. Weiss Ratings lowered Sandisk from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Tuesday, July 21st. Cantor Fitzgerald upped their price target on Sandisk from $1,800.00 to $2,900.00 and gave the stock an "overweight" rating in a report on Monday, June 8th. Finally, Jefferies Financial Group reaffirmed a "buy" rating on shares of Sandisk in a research note on Thursday. Three investment analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and five have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $1,853.14.

Insider Buying and Selling at Sandisk

In other news, EVP Alper Ilkbahar sold 2,000 shares of the company's stock in a transaction on Monday, June 1st. The stock was sold at an average price of $1,756.58, for a total value of $3,513,160.00. Following the sale, the executive vice president directly owned 52,677 shares in the company, valued at $92,531,364.66. This represents a 3.66% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Michael Pokorny sold 2,446 shares of the stock in a transaction on Tuesday, May 12th. The shares were sold at an average price of $1,426.18, for a total value of $3,488,436.28. Following the sale, the chief accounting officer directly owned 22,375 shares in the company, valued at approximately $31,910,777.50. The trade was a 9.85% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 6,246 shares of company stock worth $9,993,292. 0.21% of the stock is owned by insiders.

Sandisk Trading Down 6.8%

Shares of NASDAQ SNDK opened at $1,258.58 on Friday. The company's 50-day moving average price is $1,709.64 and its 200 day moving average price is $1,147.93. Sandisk Corporation has a 52 week low of $40.53 and a 52 week high of $2,354.39. The stock has a market cap of $186.38 billion, a price-to-earnings ratio of 17.26 and a beta of 5.20.

Sandisk (NASDAQ:SNDK - Get Free Report) last released its quarterly earnings results on Wednesday, August 5th. The data storage provider reported $39.25 EPS for the quarter, beating the consensus estimate of $33.28 by $5.97. Sandisk had a net margin of 56.47% and a return on equity of 96.94%. The business had revenue of $8.96 billion for the quarter. During the same quarter in the prior year, the company earned $0.29 earnings per share. The firm's revenue for the quarter was up 371.6% compared to the same quarter last year. Sandisk has set its Q1 2027 guidance at 44.000-46.000 EPS. As a group, research analysts expect that Sandisk Corporation will post 185.89 earnings per share for the current year.

Sandisk announced that its board has initiated a stock buyback program on Wednesday, August 5th that permits the company to buyback $14.00 billion in outstanding shares. This buyback authorization permits the data storage provider to purchase up to 6.6% of its shares through open market purchases. Shares buyback programs are often a sign that the company's board of directors believes its shares are undervalued.

More Sandisk News

Here are the key news stories impacting Sandisk this week:

• Positive Sentiment: Fiscal fourth-quarter results were exceptional. Sandisk reported adjusted EPS of $39.25, well above the roughly $33–$34 consensus, while revenue reached approximately $8.97 billion, up 371.6% year over year. Stronger pricing, higher volumes and data-center growth drove the results. SNDK Q4 Earnings Beat Estimates
• Positive Sentiment: AI data-center demand remains a major growth catalyst. Data-center revenue reportedly surged 437% during fiscal 2026. Analysts believe the shift toward AI inference, enterprise SSDs and higher-value storage could support sustained demand for Sandisk’s products. Sandisk and Western Digital Drag on Chip Stocks
• Positive Sentiment: Long-term contracts and capital returns strengthen the bullish case. Sandisk highlighted approximately $93.9 billion in contracted revenue, including $16.5 billion in AI-related guarantees, which could improve visibility and reduce exposure to NAND’s traditional boom-and-bust cycle. The company also authorized a $14 billion share repurchase program covering up to 6.6% of shares. SanDisk AI NAND Opportunity
• Neutral Sentiment: Analyst opinion is divided. Several firms continue to view SNDK as a Buy or Strong Buy, citing durable AI demand and valuation potential. However, Jefferies cut its price target to $1,750 from $3,000, while noting margin and NAND-pricing risks. Jefferies Cuts SanDisk Price Target
• Negative Sentiment: Forward revenue guidance fell short of elevated expectations. Sandisk projected fiscal first-quarter revenue of $10.3 billion to $10.8 billion, versus consensus near $10.8 billion and estimates as high as $11.16 billion. Investors interpreted the forecast as evidence that growth and pricing momentum may moderate.
• Negative Sentiment: Margin durability is the central concern. Although non-GAAP gross margin reached 84.6%, the company’s new business model may pressure margins initially. Investors also remain concerned about NAND oversupply, competition and whether recent price gains can continue. Sandisk Is Giving Up Some Margin for a Bigger Reward

Sandisk 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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