BlackRock Inc. Purchases New Shares in Sandisk Corporation $SNDK

Key Points

• BlackRock acquired 10.3 million Sandisk shares during the second quarter, valued at approximately $23.4 billion and representing a 6.95% stake.
• Sandisk reported a strong quarter, with EPS of $39.25 exceeding estimates and revenue rising 371.6% year over year to $8.96 billion. The company also authorized a $14 billion share-repurchase program covering up to 6.6% of outstanding shares.
• Analysts remain broadly bullish, with a consensus “Buy” rating and an average price target of $1,999.27, though investors face valuation and margin-durability risks if flash-memory pricing or AI-related demand weakens.

BlackRock Inc. acquired a new stake in Sandisk Corporation (NASDAQ:SNDK - Free Report) in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund acquired 10,295,300 shares of the data storage provider's stock, valued at approximately $23,408,732,000. BlackRock Inc. owned about 6.95% of Sandisk as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Valley Wealth Managers Inc. bought a new stake in shares of Sandisk during the first quarter worth $25,000. Whittier Trust Co. bought a new position in shares of Sandisk in the fourth quarter valued at about $26,000. Greenline Wealth Management LLC acquired a new position in Sandisk during the 4th quarter worth about $26,000. Chung Wu Investment Group LLC acquired a new position in Sandisk during the 4th quarter worth about $27,000. Finally, IMG Wealth Management Inc. acquired a new position in Sandisk during the 1st quarter worth about $29,000.

Sandisk Stock Performance

SNDK opened at $1,786.85 on Tuesday. The company has a fifty day moving average price of $1,670.76 and a two-hundred day moving average price of $1,195.28. Sandisk Corporation has a 52 week low of $43.20 and a 52 week high of $2,354.39. The firm has a market capitalization of $264.61 billion, a PE ratio of 24.51, a P/E/G ratio of 0.16 and a beta of 5.21.

Sandisk (NASDAQ:SNDK - Get Free Report) last issued its 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. The company 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 revenue was up 371.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.29 EPS. Sandisk has set its Q1 2027 guidance at 44.000-46.000 EPS. Equities analysts forecast that Sandisk Corporation will post 208.92 EPS for the current year.

Sandisk declared that its Board of Directors has initiated a stock 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 shares through open market purchases. Shares repurchase plans are often a sign that the company's leadership believes its shares are undervalued.

Insiders Place Their Bets

In related news, insider Bernard Shek sold 600 shares of the 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 sale, the insider directly owned 30,915 shares in the company, valued at $35,928,176.40. This trade represents a 1.90% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Alper Ilkbahar sold 2,000 shares of the business'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 transaction, the executive vice president owned 52,677 shares of the company's stock, valued at approximately $92,531,364.66. This represents a 3.66% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 3,800 shares of company stock valued at $6,504,856. 0.21% of the stock is owned by insiders.

Trending Headlines about Sandisk

Here are the key news stories impacting Sandisk this week:

• Positive Sentiment: Investor Day highlighted substantial future demand. SanDisk reported a $93.9 billion customer backlog and outlined projections for strong revenue growth through 2030. Management also indicated that long-term contracts provide multiyear volume and pricing visibility, helping support the view that AI-driven storage demand could be more durable than prior memory cycles. SanDisk’s Analyst Day Just Strengthened Micron’s $1,550 Bull Case
• Positive Sentiment: AI memory demand fueled a sector-wide rally. Comments from Elon Musk about the growing memory and storage requirements of agentic AI, along with reports that Washington is encouraging Apple to move away from Chinese DRAM suppliers, boosted SanDisk and other memory-chip companies. The potential shift toward U.S. suppliers strengthened the near-term industry narrative. Elon Musk Just Uttered 3 Massively Bullish Words for Micron, Sandisk, and SK Hynix
• Positive Sentiment: Analysts continued to endorse the outlook. Bernstein described SanDisk’s high-bandwidth flash as potentially a “game changer” for AI, while Wedbush reiterated its Outperform rating and JPMorgan initiated coverage. Investors were also encouraged by management’s plans to significantly increase capital returns to shareholders. Bernstein Analyst Calls SanDisk’s High Bandwidth Flash a Game Changer for AI
• Neutral Sentiment: Hedge-fund positioning was mixed. Appaloosa Management sold its SanDisk position in the second quarter while reallocating toward larger AI companies. The move may signal profit-taking after the stock’s dramatic year-to-date rally, but it does not necessarily challenge SanDisk’s operating fundamentals. David Tepper Cuts Micron Stake, Exits SanDisk
• Negative Sentiment: Valuation and margin durability remain concerns. Critics argue that the current valuation assumes unusually strong pricing and margins will persist, despite much of recent growth being price-driven rather than volume-driven. A normalization in flash-memory pricing, stronger yen, or weaker AI spending could create significant downside. SanDisk: Every Bounce Looks Like a Trap

Analyst Ratings Changes

Several equities research analysts have weighed in on the stock. New Street Research set a $3,000.00 price objective on shares of Sandisk in a research report on Thursday, August 6th. Zacks Research upgraded shares of Sandisk from a "hold" rating to a "strong-buy" rating in a research report on Thursday, July 30th. Wedbush reissued an "outperform" rating and set a $2,000.00 price target on shares of Sandisk in a research note on Friday. Argus raised shares of Sandisk from a "hold" rating to a "buy" rating in a report on Monday, August 10th. Finally, 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 research report on Wednesday, June 3rd. Three equities research analysts have rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and three have given a Hold rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Buy" and an average price target of $1,999.27.

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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