E. Ohman J or Asset Management AB Makes New Investment in Sandisk Corporation $SNDK

Key Points

• E. Ohman J or Asset Management AB acquired 3,780 Sandisk shares in the third quarter, valued at approximately $6.6 million, while several other institutional investors also increased their positions.
• Wall Street remains broadly bullish: Sandisk has a “Moderate Buy” consensus rating, with three Strong Buy, 21 Buy, and four Hold ratings and an average price target of $2,120.65.
• Sandisk reported strong recent results, including $8.96 billion in revenue and $39.25 EPS, and authorized a $14 billion share-repurchase program; however, the stock remains highly volatile amid AI-spending concerns and uncertainty ahead of its next earnings report.

E. Ohman J or Asset Management AB purchased a new stake in shares of Sandisk Corporation (NASDAQ:SNDK - Free Report) in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 3,780 shares of the data storage provider's stock, valued at approximately $6,577,000.

Other institutional investors also recently added to or reduced their stakes in the company. Dogwood Wealth Management LLC increased its position in shares of Sandisk by 14.3% during the second quarter. Dogwood Wealth Management LLC now owns 48 shares of the data storage provider's stock worth $109,000 after purchasing an additional 6 shares in the last quarter. Nilsine Partners LLC raised its stake in Sandisk by 3.2% in the second quarter. Nilsine Partners LLC now owns 226 shares of the data storage provider's stock valued at $514,000 after buying an additional 7 shares during the last quarter. Insight Wealth Partners LLC raised its stake in Sandisk by 0.4% in the second quarter. Insight Wealth Partners LLC now owns 1,607 shares of the data storage provider's stock valued at $3,654,000 after buying an additional 7 shares during the last quarter. Cornerstone Financial Management LLC boosted its holdings in Sandisk by 60.0% in the second quarter. Cornerstone Financial Management LLC now owns 24 shares of the data storage provider's stock worth $55,000 after acquiring an additional 9 shares in the last quarter. Finally, LifeGoal Investments LLC boosted its holdings in Sandisk by 3.9% in the third quarter. LifeGoal Investments LLC now owns 242 shares of the data storage provider's stock worth $421,000 after acquiring an additional 9 shares in the last quarter.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on SNDK. UBS Group restated an "overweight" rating and set a $1,750.00 price target on shares of Sandisk in a research note on Friday, August 14th. New Street Research set a $3,000.00 target price on shares of Sandisk in a research note on Thursday, August 6th. Cantor Fitzgerald reissued an "overweight" rating and set a $2,900.00 target price (up from $1,800.00) on shares of Sandisk in a research report on Monday, August 10th. Mizuho raised their price target on shares of Sandisk from $1,875.00 to $2,050.00 and gave the stock an "outperform" rating in a report on Tuesday, October 6th. Finally, Royal Bank Of Canada upped their target price on Sandisk from $1,300.00 to $1,600.00 and gave the company a "sector perform" rating in a research report on Friday, August 14th. Three research analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and four have issued a Hold rating to the company's stock. According to MarketBeat.com, Sandisk currently has an average rating of "Moderate Buy" and an average price target of $2,120.65.

More Sandisk News

Here are the key news stories impacting Sandisk this week:

• Positive Sentiment: Strong NAND and AI-storage fundamentals: Analysts and bullish commentators argue that AI data-center construction is driving NAND demand beyond supply. Enterprise SSD growth, firm NAND pricing, and potential shortages through 2028 could support Sandisk’s revenue and margins. Sandisk: Strong Buy Despite China and AI Spending Fears
• Positive Sentiment: Analyst support remains strong: Mizuho analyst Lloyd Walmsley maintained a Buy rating and a $2,050 price target, citing firm NAND pricing and upside from enterprise solid-state drives. Analyst Lloyd Walmsley Initiates Buy on SanDisk
• Positive Sentiment: Earnings could provide a catalyst: Several previews expect Sandisk to benefit from favorable NAND market conditions when it reports on October 29. The stock’s earlier surge followed its return as an independent company in February 2025, reflecting strong investor enthusiasm for the memory cycle. Prediction: Sandisk Stock Will Soar After Oct. 29
• Neutral Sentiment: Sector-wide volatility is elevated: Sandisk has gained dramatically since its separation from Western Digital, but the memory market remains highly cyclical. Its substantial prior appreciation and high volatility leave the stock vulnerable to profit-taking and sharp moves around earnings. Up 3,700%, Should You Buy Sandisk Right Now?
• Negative Sentiment: AI spending concerns are driving the selloff: Investors are questioning whether rising AI infrastructure costs will slow hyperscaler capital expenditures, reducing future demand for memory and storage chips. Sandisk declined alongside Micron, SK Hynix, and other semiconductor stocks as the broader memory-sector liquidation intensified. SanDisk Stock Drops as AI Cost Worries Mount
• Negative Sentiment: Near-term uncertainty is concentrated around earnings: The market is weighing whether strong NAND pricing and AI-related demand can overcome concerns about slowing chip demand, Chinese competition, and the sustainability of elevated valuations.

Sandisk Stock Down 8.5%

SNDK opened at $1,260.93 on Friday. The company has a 50-day moving average price of $1,603.49 and a 200 day moving average price of $1,522.08. The company has a market cap of $182.24 billion, a PE ratio of 17.30, a price-to-earnings-growth ratio of 0.14 and a beta of 5.23. Sandisk Corporation has a twelve month low of $146.00 and a twelve month high of $2,354.39.

Sandisk (NASDAQ:SNDK - Get Free Report) last released its earnings results on Wednesday, August 5th. The data storage provider reported $39.25 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $33.28 by $5.97. Sandisk had a net margin of 56.47% and a return on equity of 87.84%. The business had revenue of $8.96 billion during the quarter. During the same period in the previous year, the company earned $0.29 EPS. Sandisk's quarterly revenue 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, sell-side analysts expect that Sandisk Corporation will post 208.94 earnings per share for the current year.

Sandisk declared that its board has approved a stock repurchase plan on Wednesday, August 5th that allows the company to buy back $14.00 billion in outstanding shares. This repurchase authorization allows the data storage provider to purchase up to 6.6% of its shares through open market purchases. Share repurchase plans are usually an indication that the company's board of directors believes its shares are undervalued.

Insider Buying and Selling

In other news, insider Bernard Shek sold 600 shares of the stock in a transaction on Thursday, October 1st. The stock was sold at an average price of $1,734.94, for a total value of $1,040,964.00. Following the sale, the insider directly owned 25,588 shares in the company, valued at approximately $44,393,644.72. This trade represents a 2.29% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Luis Visoso sold 1,000 shares of the stock in a transaction on Tuesday, September 15th. The shares were sold at an average price of $1,568.83, for a total value of $1,568,830.00. Following the completion of the sale, the chief financial officer owned 130,976 shares in the company, valued at approximately $205,479,078.08. The trade was a 0.76% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 77,899 shares of company stock worth $121,159,122 over the last ninety days. Insiders own 0.29% of the company's stock.

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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