AXQ Capital LP Sells 3,628 Shares of Sandisk Corporation $SNDK

AXQ Capital LP cut its holdings in shares of Sandisk Corporation (NASDAQ:SNDK - Free Report) by 62.9% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,139 shares of the data storage provider's stock after selling 3,628 shares during the quarter. Sandisk accounts for approximately 0.5% of AXQ Capital LP's holdings, making the stock its 23rd biggest holding. AXQ Capital LP's holdings in Sandisk were worth $4,864,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in SNDK. Osaic Holdings Inc. bought a new stake in shares of Sandisk in the 2nd quarter valued at about $317,000. Merit Financial Group LLC bought a new stake in Sandisk in the third quarter valued at approximately $408,000. Dimensional Fund Advisors LP purchased a new stake in shares of Sandisk during the third quarter valued at approximately $100,080,000. First Trust Advisors LP purchased a new stake in shares of Sandisk during the third quarter valued at approximately $9,788,000. Finally, Blair William & Co. IL bought a new position in shares of Sandisk in the third quarter worth approximately $591,000.

Insiders Place Their Bets

In other Sandisk news, insider Bernard Shek sold 600 shares of the stock in a transaction on Tuesday, September 1st. The stock was sold at an average price of $1,525.60, for a total value of $915,360.00. Following the completion of the transaction, the insider owned 29,884 shares in the company, valued at approximately $45,591,030.40. This represents a 1.97% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 1,800 shares of company stock valued at $2,865,456 over the last 90 days. 0.21% of the stock is owned by corporate insiders.

Key Stories Impacting Sandisk

Here are the key news stories impacting Sandisk this week:

• Positive Sentiment: Upward earnings revisions support the shares. Zacks reiterated a Rank #1 (Strong Buy) for SNDK, citing a strengthening earnings outlook. The view follows Sandisk’s recent earnings beat, 371.6% year-over-year revenue growth and strong fiscal 2027 guidance. Bullish EPS Revisions Back IBKR, SNDK, and ROKU
• Positive Sentiment: AI data-center demand remains a major bullish driver. Analysts continue to identify Sandisk as a way to participate in rising demand for enterprise storage, NAND flash and other memory infrastructure supporting AI workloads. 4 Stocks to Buy Now to Ride the AI Data Center Spending Boom
• Positive Sentiment: Management’s scheduled presentations at the Citi Global TMT Conference and Goldman Sachs Communacopia + Technology Conference could provide fresh commentary on demand, pricing and the company’s outlook. Sandisk Announces Participation in Investor Conferences
• Neutral Sentiment: Recent commentary presents a wide range of expectations, including bullish price targets and comparisons highlighting Sandisk’s rapid revenue expansion. However, the stock’s elevated valuation and high volatility leave it sensitive to changes in the memory cycle and investor sentiment. SanDisk SNDK Stock Prediction
• Negative Sentiment: Growing Chinese competition is the key downside risk. Chinese memory manufacturers are gaining DRAM and NAND market share, raising concerns about future pricing pressure, reduced share and lower margins for Sandisk. Micron, SanDisk Lag Tech Rally as China Grabs Memory Market Share
• Negative Sentiment: Insider Bernard Shek sold approximately $915,360 of SNDK under a pre-arranged Rule 10b5-1 plan. The sale reduced his holdings by about 2%, limiting its significance but adding a modest sentiment headwind. Insider Selling: Sandisk Insider Sells Stock

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on SNDK shares. Argus upgraded shares of Sandisk from a "hold" rating to a "buy" rating in a report on Monday, August 10th. Evercore reissued an "outperform" rating on shares of Sandisk in a report on Thursday, August 13th. Cantor Fitzgerald restated an "overweight" rating and issued a $2,900.00 price objective on shares of Sandisk in a research report on Monday, August 10th. New Street Research set a $3,000.00 price objective on shares of Sandisk in a research note on Thursday, August 6th. Finally, Zacks Research upgraded shares of Sandisk from a "hold" rating to a "strong-buy" rating in a report on Thursday, July 30th. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and two have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, Sandisk presently has an average rating of "Buy" and an average target price of $1,998.14.

Sandisk Price Performance

Shares of NASDAQ SNDK opened at $1,554.99 on Friday. Sandisk Corporation has a 1 year low of $55.55 and a 1 year high of $2,354.39. The company's 50-day moving average is $1,550.34 and its 200 day moving average is $1,281.92. The stock has a market capitalization of $227.68 billion, a P/E ratio of 21.33, a P/E/G ratio of 0.15 and a beta of 5.17.

Sandisk (NASDAQ:SNDK - Get Free Report) last issued its quarterly earnings data 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 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%. The business's quarterly revenue was up 371.6% on a year-over-year basis. During the same quarter last year, the business earned $0.29 earnings per share. Sandisk has set its Q1 2027 guidance at 44.000-46.000 EPS. Research analysts anticipate 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 buyback program on Wednesday, August 5th that allows the company to repurchase $14.00 billion in outstanding shares. This repurchase authorization allows the data storage provider to buy up to 6.6% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company's board believes its shares are undervalued.

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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