Baird Financial Group Inc. Has $25.36 Million Stake in Sandisk Corporation $SNDK

Key Points

• Baird Financial Group increased its Sandisk stake by 188.6% in the second quarter, bringing its holdings to 11,152 shares valued at approximately $25.36 million.
• Sandisk reported quarterly EPS of $39.25, beating estimates by $5.97, while revenue surged 371.6% year over year to $8.96 billion. The board also authorized a $14 billion stock-repurchase plan, covering up to 6.6% of shares.
• Analysts maintain a bullish outlook, with a consensus “Moderate Buy” rating and a $1,998.14 price target, although the stock’s sharp rally, high volatility and recent insider sales raise valuation and profit-taking concerns.

Baird Financial Group Inc. increased its holdings in shares of Sandisk Corporation (NASDAQ:SNDK - Free Report) by 188.6% in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 11,152 shares of the data storage provider's stock after purchasing an additional 7,288 shares during the quarter. Baird Financial Group Inc.'s holdings in Sandisk were worth $25,357,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of the company. Valley Wealth Managers Inc. acquired a new position in Sandisk during the 1st quarter worth approximately $25,000. Greenline Wealth Management LLC bought a new stake in Sandisk in the fourth quarter valued at approximately $26,000. IMG Wealth Management Inc. acquired a new stake in Sandisk during the 1st quarter valued at $29,000. Dunhill Financial LLC acquired a new stake in shares of Sandisk during the 2nd quarter worth about $30,000. Finally, Parallel Advisors LLC acquired a new position in shares of Sandisk in the third quarter valued at approximately $30,000.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on SNDK shares. New Street Research set a $3,000.00 price target on shares of Sandisk in a research report on Thursday, August 6th. Citigroup reduced their price objective on Sandisk from $2,500.00 to $2,100.00 and set a "buy" rating on the stock in a research note on Thursday, August 6th. The Goldman Sachs Group reiterated a "buy" rating and set a $2,200.00 price target on shares of Sandisk in a report on Thursday, August 13th. Melius Research set a $2,350.00 price target on shares of Sandisk in a research report on Monday, May 18th. Finally, UBS Group reaffirmed an "overweight" rating and issued a $1,750.00 price objective on shares of Sandisk in a research note on Friday, August 14th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $1,998.14.

Sandisk Stock Performance

Shares of NASDAQ SNDK opened at $1,692.59 on Friday. The firm's 50-day simple moving average is $1,520.00 and its 200 day simple moving average is $1,321.26. Sandisk Corporation has a fifty-two week low of $81.38 and a fifty-two week high of $2,354.39. The stock has a market cap of $247.83 billion, a price-to-earnings ratio of 23.22, a PEG ratio of 0.18 and a beta of 5.17.

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 analysts' consensus estimates of $33.28 by $5.97. The business 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 company's quarterly revenue was up 371.6% compared to the same quarter last year. During the same period in the previous year, the company posted $0.29 earnings per share. Sandisk has set its Q1 2027 guidance at 44.000-46.000 EPS. On average, sell-side analysts predict that Sandisk Corporation will post 208.92 EPS for the current year.

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

Insiders Place Their Bets

In other Sandisk news, EVP Alper Ilkbahar sold 4,712 shares of Sandisk stock in a transaction dated Thursday, September 3rd. The shares were sold at an average price of $1,540.58, for a total value of $7,259,212.96. Following the sale, the executive vice president owned 44,134 shares of the company's stock, valued at approximately $67,991,957.72. The trade was a 9.65% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Bernard Shek sold 2,308 shares of Sandisk stock in a transaction that occurred on Tuesday, September 8th. The stock was sold at an average price of $1,767.33, for a total transaction of $4,078,997.64. Following the completion of the sale, the insider directly owned 25,305 shares in the company, valued at $44,722,285.65. This trade represents a 8.36% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 9,220 shares of company stock worth $14,829,223 over the last quarter. 0.21% of the stock is currently owned by corporate insiders.

Key Sandisk News

Here are the key news stories impacting Sandisk this week:

• Positive Sentiment: AI-driven NAND demand remains a long-term support. Analysts continue to point to strong data-center and artificial-intelligence infrastructure demand, tight memory supply and potentially higher NAND prices as reasons for optimism about Sandisk’s earnings and margins. Memory prices and Sandisk article
• Positive Sentiment: Citi maintained its Buy rating and $2,100 price target. The analyst cited strengthening AI-related NAND demand, leaving the target above the company’s current trading level. Citi Sandisk rating article
• Neutral Sentiment: Investors remain divided after an extraordinary rally. Sandisk has gained more than 600% year to date, creating substantial momentum but also raising questions about valuation, sustainability of margins and the risk of additional profit-taking. A Goldman Sachs view that the memory downturn may be easing provides sector support, although it has not prevented near-term volatility. Memory stocks outlook article
• Negative Sentiment: Macro conditions triggered a broad technology selloff. Higher oil prices intensified concerns that inflation could keep interest rates elevated, weighing particularly heavily on high-beta growth stocks such as SNDK and its memory-chip peers. Memory stocks falling article
• Negative Sentiment: Rating and insider-selling headlines added pressure. Zacks Research downgraded Sandisk from Strong Buy to Hold, while executives disclosed sales totaling millions of dollars. The transactions were made under pre-arranged Rule 10b5-1 plans, limiting their significance, but they may still reinforce profit-taking concerns. Sandisk insider trading article

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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