Hsbc Holdings PLC Takes $498.38 Million Position in Sandisk Corporation $SNDK

Hsbc Holdings PLC bought a new position in Sandisk Corporation (NASDAQ:SNDK - Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 220,574 shares of the data storage provider's stock, valued at approximately $498,377,000. Hsbc Holdings PLC owned approximately 0.15% of Sandisk as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. BlackRock Inc. purchased a new position in Sandisk during the 2nd quarter valued at approximately $23,408,732,000. State Street Corp raised its holdings in shares of Sandisk by 20.7% during the 4th quarter. State Street Corp now owns 5,281,522 shares of the data storage provider's stock worth $1,253,728,000 after acquiring an additional 904,933 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Sandisk by 44.9% during the 4th quarter. Geode Capital Management LLC now owns 3,655,860 shares of the data storage provider's stock valued at $866,310,000 after acquiring an additional 1,133,276 shares during the last quarter. Arrowstreet Capital Limited Partnership boosted its position in shares of Sandisk by 31.3% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 3,478,002 shares of the data storage provider's stock valued at $825,608,000 after acquiring an additional 828,332 shares during the last quarter. Finally, Morgan Stanley grew its holdings in shares of Sandisk by 7.2% in the fourth quarter. Morgan Stanley now owns 2,970,361 shares of the data storage provider's stock valued at $705,105,000 after purchasing an additional 199,545 shares in the last quarter.

Analyst Upgrades and Downgrades

A number of brokerages have commented on SNDK. Mizuho dropped their price objective on shares of Sandisk from $1,900.00 to $1,875.00 and set an "outperform" rating for the company in a research note on Tuesday. Wells Fargo & Company upped their target price on shares of Sandisk from $1,400.00 to $1,550.00 and gave the company an "equal weight" rating in a research report on Thursday, August 13th. The Goldman Sachs Group reaffirmed a "buy" rating and issued a $2,200.00 price target on shares of Sandisk in a report on Thursday, August 13th. Bank of America lifted their price target on Sandisk from $2,100.00 to $2,500.00 and gave the stock a "buy" rating in a research report on Wednesday, July 1st. Finally, Melius Research set a $2,350.00 price objective on Sandisk in a research note on Monday, May 18th. Three 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 stock. According to data from MarketBeat.com, the company has an average rating of "Buy" and an average price target of $1,998.14.

Sandisk Trading Down 0.8%

NASDAQ SNDK opened at $1,480.77 on Wednesday. The stock has a market cap of $216.81 billion, a PE ratio of 20.31, a PEG ratio of 0.15 and a beta of 5.20. Sandisk Corporation has a 12 month low of $46.75 and a 12 month high of $2,354.39. The company's 50-day moving average price is $1,633.05 and its 200-day moving average price is $1,235.96.

Sandisk (NASDAQ:SNDK - Get Free Report) last announced its quarterly earnings data on Wednesday, August 5th. The data storage provider reported $39.25 earnings per share for the quarter, beating analysts' consensus estimates 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 company's quarterly revenue was up 371.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.29 EPS. Sandisk has set its Q1 2027 guidance at 44.000-46.000 EPS. As a group, sell-side analysts forecast that Sandisk Corporation will post 208.92 earnings per share for the current year.

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

Insider Activity at Sandisk

In other news, EVP Alper Ilkbahar sold 2,000 shares of Sandisk 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 completion of the sale, the executive vice president owned 52,677 shares of the company's stock, valued at approximately $92,531,364.66. The trade was a 3.66% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Bernard Shek sold 600 shares of the business's 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 completion of the sale, the insider owned 30,915 shares of the company's stock, valued at $35,928,176.40. The trade was a 1.90% 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. Insiders have sold 3,800 shares of company stock valued at $6,504,856 in the last ninety days. Insiders own 0.21% of the company's stock.

More Sandisk News

Here are the key news stories impacting Sandisk this week:

• Positive Sentiment: Optimism about an AI-driven memory cycle is supporting Sandisk and other NAND stocks. Analysts and market commentators argue that data-center demand, multi-year contracts, and stronger NAND pricing could leave room for further upside. One Reason to Be Bullish on SanDisk Stock
• Positive Sentiment: Recent coverage highlights Sandisk’s potential path toward an 80% margin target and a possible “token-battery” advantage, leading to a rating upgrade despite concerns about the company’s valuation and cyclical exposure. Sandisk: The Hidden Mechanism Behind Its 80% Margin Target
• Positive Sentiment: Mizuho maintained an Outperform rating and trimmed its price target only slightly, to $1,875, implying substantial potential upside from the reference price. Mizuho price target update
• Positive Sentiment: Zacks identified SNDK as a strong momentum stock, while prior coverage pointed to rapid data-center revenue growth, AI demand, and improving earnings visibility. Why Sandisk Is a Strong Momentum Stock
• Neutral Sentiment: Sandisk and other semiconductor stocks rebounded in premarket trading after Monday’s broad technology and memory-sector sell-off, but the recovery appears driven largely by sector sentiment rather than a new company-specific announcement. Memory Stocks Rebound After Sell-Off
• Negative Sentiment: Memory stocks remain under pressure after reports that Apple could source chips from Chinese suppliers, potentially increasing competition and weakening demand expectations for established suppliers. Samsung-related headwinds and profit-taking also weighed on the sector. Memory Stocks Slide on Apple Chinese Chip Report
• Negative Sentiment: Investors are also weighing Sandisk’s cyclicality and the sustainability of elevated NAND prices following a reported 70% jump in the prior period; TrendForce expects a more moderate 10%–15% increase this quarter, raising concerns about slowing price-driven growth. NAND Price Outlook

Sandisk Company 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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