Maridea Wealth Management LLC Takes Position in Sandisk Corporation $SNDK

Key Points

• Maridea Wealth Management initiated a Sandisk position during the second quarter, buying 729 shares valued at approximately $1.66 million. Several other wealth managers and hedge funds have also recently established SNDK positions.
• Sandisk reported quarterly EPS of $39.25, well above the $33.28 consensus estimate, while revenue surged 371.6% year over year to $8.96 billion. Management also authorized a $14 billion share-repurchase program, covering up to 6.6% of outstanding shares.
• Analyst sentiment remains broadly positive, with MarketBeat reporting a consensus “Buy” rating and an average price target of $1,999.27. Growth expectations are being supported by AI data-center demand, new flash-storage products and Sandisk’s ambitious long-term margin targets.

Maridea Wealth Management LLC bought a new position in shares of Sandisk Corporation (NASDAQ:SNDK - Free Report) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 729 shares of the data storage provider's stock, valued at approximately $1,658,000.

Several other hedge funds have also recently added to or reduced their stakes in SNDK. Valley Wealth Managers Inc. acquired a new position in Sandisk during the 1st quarter worth approximately $25,000. Whittier Trust Co. acquired a new stake in shares of Sandisk in the 4th quarter valued at $26,000. Greenline Wealth Management LLC purchased a new stake in shares of Sandisk during the 4th quarter worth $26,000. Chung Wu Investment Group LLC purchased a new stake in shares of Sandisk during the 4th quarter worth $27,000. Finally, IMG Wealth Management Inc. acquired a new position in shares of Sandisk during the first quarter worth $29,000.

Sandisk News Roundup

Here are the key news stories impacting Sandisk this week:

• Positive Sentiment: Sandisk outlined an ambitious long-term financial model, including approximately 80% gross margins, 75% operating margins, 50% free-cash-flow margins and mid-to-high-teens revenue growth through the end of the decade. Management also highlighted long-term customer agreements intended to reduce exposure to the traditional memory boom-and-bust cycle. SanDisk Surges 55% From its July Low: Wall Street Just Got a New Roadmap
• Positive Sentiment: J.P. Morgan began coverage with an Overweight rating and a $2,250 price target, while Wedbush reaffirmed Outperform with a $2,000 target. Evercore ISI also maintained its Buy rating and $2,800 target. The recommendations reinforce expectations for additional earnings growth and potential shareholder returns. Sandisk Stock Tops the S&P 500 as Analysts Rally Behind Its AI Expansion
• Positive Sentiment: Analysts are raising earnings estimates following strong quarterly results and the Investor Day presentation. The company’s latest quarter significantly exceeded consensus expectations, while AI data-center demand and new flash-storage products are viewed as key growth catalysts.
• Positive Sentiment: Broader market conditions also helped: softer inflation data reduced expectations for a September Federal Reserve rate hike, supporting technology and semiconductor stocks. A strong sector-wide memory rally amplified buying in SNDK.

Analyst Ratings Changes

SNDK has been the topic of several recent analyst reports. Citigroup dropped their target price on Sandisk from $2,500.00 to $2,100.00 and set a "buy" rating on the stock in a report on Thursday, August 6th. Jefferies Financial Group reaffirmed a "buy" rating on shares of Sandisk in a report on Thursday, August 6th. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $2,900.00 price objective on shares of Sandisk in a research report on Monday, August 10th. Weiss Ratings downgraded Sandisk from a "buy (b-)" rating to a "hold (c+)" rating in a report on Tuesday, July 21st. Finally, Wedbush reissued an "outperform" rating and set a $2,000.00 target price on shares of Sandisk in a research report on Friday. Three research analysts have rated the stock with a Strong Buy rating, twenty have given a Buy rating and three have given a Hold rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Buy" and a consensus price target of $1,999.27.

Insider Activity

In other news, insider Bernard Shek sold 600 shares of the business's stock in a transaction dated Monday, August 3rd. The stock was 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 directly owned 30,915 shares of the company's stock, valued at approximately $35,928,176.40. The trade was a 1.90% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through 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 company's stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $1,756.58, for a total value of $3,513,160.00. Following the completion of the sale, the executive vice president directly owned 52,677 shares of the company's stock, valued at approximately $92,531,364.66. This trade represents a 3.66% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 3,800 shares of company stock valued at $6,504,856 over the last three months. Company insiders own 0.21% of the company's stock.

Sandisk Price Performance

Shares of NASDAQ:SNDK opened at $1,641.11 on Friday. The company's fifty day moving average price is $1,667.87 and its 200 day moving average price is $1,181.08. Sandisk Corporation has a 12 month low of $42.82 and a 12 month high of $2,354.39. The firm has a market capitalization of $243.03 billion, a P/E ratio of 22.51, a P/E/G ratio of 0.16 and a beta of 5.20.

Sandisk (NASDAQ:SNDK - Get Free Report) last announced its quarterly earnings results 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. Sandisk had a net margin of 56.47% and a return on equity of 87.84%. The firm had revenue of $8.96 billion during the quarter. During the same period last year, the firm earned $0.29 earnings per share. Sandisk's revenue 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, sell-side analysts anticipate that Sandisk Corporation will post 208.92 EPS for the current year.

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

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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