Jupiter Topco LLC Invests $353.66 Million in Sandisk Corporation $SNDK

Key Points

• Jupiter Topco established a new Sandisk position worth approximately $353.66 million, buying 155,696 shares, while other major institutions also increased their holdings.
• Sandisk reported quarterly EPS of $39.25, beating estimates by $5.97, with revenue surging 371.6% year over year to $8.96 billion. The board also authorized a $14 billion share-repurchase program.
• Analysts maintain a broadly bullish view, with a consensus “Buy” rating and a $1,998.14 price target, though investors remain concerned about the stock’s high valuation, cyclicality and potentially moderating NAND-price growth.

Jupiter Topco LLC bought a new position in Sandisk Corporation (NASDAQ:SNDK - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 155,696 shares of the data storage provider's stock, valued at approximately $353,657,000. Jupiter Topco LLC owned about 0.11% of Sandisk as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. BlackRock Inc. purchased a new stake in shares of Sandisk during the 2nd quarter valued at $23,408,732,000. State Street Corp raised its position in shares of Sandisk by 20.7% in 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 buying an additional 904,933 shares during the period. Geode Capital Management LLC boosted its holdings in Sandisk by 44.9% in the fourth 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 holdings in Sandisk by 31.3% in the fourth 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 position in Sandisk by 7.2% during the fourth quarter. Morgan Stanley now owns 2,970,361 shares of the data storage provider's stock valued at $705,105,000 after acquiring an additional 199,545 shares during the period.

Sandisk Stock Performance

Sandisk stock opened at $1,480.77 on Wednesday. The firm has a market capitalization of $216.81 billion, a PE ratio of 20.31, a price-to-earnings-growth ratio of 0.15 and a beta of 5.20. Sandisk Corporation has a one year low of $46.75 and a one year high of $2,354.39. The stock'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 posted its quarterly earnings data on Wednesday, August 5th. The data storage provider reported $39.25 earnings per share (EPS) for the quarter, beating 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 company had revenue of $8.96 billion for the quarter. During the same quarter in the prior year, the business earned $0.29 EPS. The company's revenue for the quarter was up 371.6% on a year-over-year basis. Sandisk has set its Q1 2027 guidance at 44.000-46.000 EPS. On average, analysts forecast that Sandisk Corporation will post 208.92 earnings per share for the current fiscal year.

Sandisk announced that its Board of Directors has initiated a share repurchase program on Wednesday, August 5th that authorizes the company to repurchase $14.00 billion in shares. This repurchase authorization authorizes the data storage provider to buy up to 6.6% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company's management believes its shares are undervalued.

Key Stories Impacting Sandisk

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

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the company. Evercore restated an "outperform" rating on shares of Sandisk in a report on Thursday, August 13th. Wells Fargo & Company increased their target price on shares of Sandisk from $1,400.00 to $1,550.00 and gave the stock an "equal weight" rating in a research report on Thursday, August 13th. JPMorgan Chase & Co. started coverage on shares of Sandisk in a report on Friday, August 14th. They issued an "overweight" rating and a $2,250.00 price target on the stock. Susquehanna reduced their price target on shares of Sandisk from $3,250.00 to $3,050.00 and set a "positive" rating on the stock in a research report on Thursday, July 23rd. 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 note on Wednesday, June 3rd. Three research analysts have rated the stock with a Strong Buy rating, twenty have given a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, Sandisk has a consensus rating of "Buy" and a consensus price target of $1,998.14.

Insider Buying and Selling at Sandisk

In other Sandisk news, insider Bernard Shek sold 600 shares of the business's stock in a transaction 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 transaction, the insider owned 30,915 shares in the company, valued at $35,928,176.40. The trade was a 1.90% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Alper Ilkbahar sold 2,000 shares of Sandisk stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $1,756.58, for a total value of $3,513,160.00. Following the sale, the executive vice president directly owned 52,677 shares in the company, valued at approximately $92,531,364.66. The trade was a 3.66% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 3,800 shares of company stock worth $6,504,856 in the last ninety days. 0.21% of the stock is currently owned by insiders.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source