HighTower Advisors LLC Cuts Position in Sandisk Corporation $SNDK

Key Points

• HighTower Advisors cut its Sandisk stake by 11.1% in the second quarter, selling 1,669 shares and retaining 13,413 shares valued at approximately $30.5 million.
• Sandisk reported stronger-than-expected quarterly results, with EPS of $39.25 versus the $33.28 consensus and revenue of $8.96 billion, up 371.6% year over year. The board also authorized a $14 billion share-repurchase program.
• Despite a consensus “Buy” rating and a $1,998.14 price target, analysts and investors remain cautious after the stock’s sharp rally; valuation and memory-market cyclicality are key risks, while upcoming S&P 100 inclusion and AI-driven storage demand could support further gains.

HighTower Advisors LLC reduced its stake in shares of Sandisk Corporation (NASDAQ:SNDK - Free Report) by 11.1% during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 13,413 shares of the data storage provider's stock after selling 1,669 shares during the period. HighTower Advisors LLC's holdings in Sandisk were worth $30,498,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Handelsbanken Fonder AB increased its holdings in Sandisk by 35.1% during the 2nd quarter. Handelsbanken Fonder AB now owns 57,564 shares of the data storage provider's stock valued at $130,885,000 after acquiring an additional 14,964 shares in the last quarter. Allworth Financial LP raised its position in Sandisk by 84.2% during the fourth quarter. Allworth Financial LP now owns 4,521 shares of the data storage provider's stock worth $1,073,000 after acquiring an additional 2,067 shares during the last quarter. Tredje AP fonden purchased a new stake in shares of Sandisk in the fourth quarter valued at about $7,821,000. ProShare Advisors LLC lifted its holdings in shares of Sandisk by 1,301.5% in the fourth quarter. ProShare Advisors LLC now owns 33,637 shares of the data storage provider's stock valued at $7,985,000 after purchasing an additional 31,237 shares in the last quarter. Finally, FourThought Financial Partners LLC acquired a new stake in shares of Sandisk in the fourth quarter valued at approximately $422,000.

More Sandisk News

Here are the key news stories impacting Sandisk this week:

• Positive Sentiment: S&P 100 inclusion is a near-term catalyst. Sandisk will join the S&P 100 before trading opens on September 21. The addition could attract buying from index funds and increase institutional visibility after the stock’s powerful rally. SanDisk S&P 100 inclusion article
• Positive Sentiment: AI infrastructure demand is tightening the memory market. Articles point to strong demand for NAND and data-center storage, with supply constraints supporting pricing and margins across memory-chip makers. This has helped drive substantial recent gains in SNDK and peers such as Micron. Sandisk NAND article
• Positive Sentiment: Investors see improving cash generation and less exposure to spot-market volatility. One analysis estimates approximately $24 billion of fiscal 2027 free cash flow and highlights management’s intention to return excess cash to shareholders. Long-term supply agreements, reportedly totaling $93.9 billion, could make revenue more predictable than in prior NAND cycles. Sandisk free cash flow article
• Neutral Sentiment: Analyst sentiment is mixed after a more than 500% 2026 rally. Some commentators believe earnings growth and AI demand can extend the advance, while valuation models and technical indicators suggest expectations are already aggressive. Sandisk rally outlook article
• Negative Sentiment: Valuation and memory cyclicality are the main risks. Coverage warns that the rally may have moved ahead of fundamentals, while NAND pricing, customer spending and supply conditions can reverse quickly. A pullback or profit-taking would be more likely if demand expectations weaken. Zacks Sandisk rally risk article

Sandisk Trading Down 0.1%

SNDK stock opened at $1,737.99 on Wednesday. The company has a market cap of $254.47 billion, a PE ratio of 23.84, a price-to-earnings-growth ratio of 0.17 and a beta of 5.17. The stock has a 50-day moving average price of $1,526.40 and a two-hundred day moving average price of $1,305.86. Sandisk Corporation has a 12-month low of $69.57 and a 12-month high of $2,354.39.

Sandisk (NASDAQ:SNDK - Get Free Report) last released its quarterly earnings data on Wednesday, August 5th. The data storage provider reported $39.25 EPS for the quarter, topping analysts' consensus estimates of $33.28 by $5.97. The company had revenue of $8.96 billion for the quarter. Sandisk had a return on equity of 87.84% and a net margin of 56.47%.The business's revenue for the quarter was up 371.6% compared to the same quarter last year. 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. Equities analysts forecast that Sandisk Corporation will post 208.92 EPS for the current fiscal year.

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

Insider Buying and Selling

In other Sandisk news, insider Bernard Shek sold 2,308 shares of the business's stock in a transaction that occurred on Tuesday, September 8th. The shares were 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. The trade was a 8.36% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Alper Ilkbahar sold 4,712 shares of the stock in a transaction on Thursday, September 3rd. The stock was sold at an average price of $1,540.58, for a total transaction of $7,259,212.96. Following the completion of the sale, the executive vice president directly owned 44,134 shares of the company's stock, valued at $67,991,957.72. The trade was a 9.65% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 9,220 shares of company stock worth $14,829,223. 0.21% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on SNDK shares. JPMorgan Chase & Co. began coverage on Sandisk in a research report on Friday, August 14th. They set an "overweight" rating and a $2,250.00 price objective for the company. Susquehanna lowered their target price on Sandisk from $3,250.00 to $3,050.00 and set a "positive" rating on the stock in a report on Thursday, July 23rd. Mizuho dropped their price target on Sandisk from $1,900.00 to $1,875.00 and set an "outperform" rating for the company in a research report on Tuesday, August 25th. Wells Fargo & Company boosted their price target on Sandisk from $1,400.00 to $1,550.00 and gave the stock an "equal weight" rating in a report on Thursday, August 13th. Finally, Weiss Ratings upgraded Sandisk from a "hold (c)" rating to a "buy (b-)" rating in a research report on Thursday, August 27th. Three research analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and two have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus price target of $1,998.14.

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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