Marvin & Palmer Associates Inc. bought a new stake in shares of Sandisk Corporation (NASDAQ:SNDK - Free Report) during the 2nd quarter, according to its most recent filing with the SEC. The fund bought 1,668 shares of the data storage provider's stock, valued at approximately $3,793,000. Sandisk makes up 2.4% of Marvin & Palmer Associates Inc.'s portfolio, making the stock its 18th largest position.
Other hedge funds have also recently added to or reduced their stakes in the company. BlackRock Inc. acquired a new stake in Sandisk during the second quarter valued at approximately $23,408,732,000. State Street Corp bought a new position in shares of Sandisk during the 3rd quarter worth approximately $491,053,000. Arrowstreet Capital Limited Partnership bought a new position in shares of Sandisk during the 3rd quarter worth approximately $297,293,000. Norges Bank acquired a new stake in Sandisk in the 4th quarter valued at $518,889,000. Finally, Bank of America Corp DE acquired a new stake in Sandisk in the 3rd quarter valued at $190,425,000.
Sandisk Stock Performance
Shares of SNDK opened at $1,484.98 on Friday. The stock has a fifty day moving average price of $1,595.87 and a two-hundred day moving average price of $1,250.36. Sandisk Corporation has a 52-week low of $50.07 and a 52-week high of $2,354.39. The company has a market cap of $217.43 billion, a price-to-earnings ratio of 20.37, a PEG ratio of 0.15 and a beta of 5.20.
Sandisk (NASDAQ:SNDK - Get Free Report) last posted 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%.Sandisk's revenue for the quarter was up 371.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.29 EPS. Sandisk has set its Q1 2027 guidance at 44.000-46.000 EPS. As a group, research analysts predict that Sandisk Corporation will post 208.92 EPS for the current fiscal year.
Sandisk announced that its board has approved a stock buyback plan on Wednesday, August 5th that authorizes the company to buyback $14.00 billion in outstanding shares. This buyback authorization authorizes the data storage provider to repurchase up to 6.6% of its shares through open market purchases. Shares buyback plans are usually a sign that the company's board of directors believes its shares are undervalued.
Analyst Ratings Changes
Several research analysts have issued reports on SNDK shares. Susquehanna dropped their price objective on Sandisk from $3,250.00 to $3,050.00 and set a "positive" rating for the company in a research note on Thursday, July 23rd. Wedbush restated an "outperform" rating and issued a $2,000.00 target price on shares of Sandisk in a research note on Friday, August 14th. Morgan Stanley upped their target price on shares of Sandisk from $1,100.00 to $1,750.00 and gave the stock an "overweight" rating in a report on Wednesday, June 3rd. Jefferies Financial Group reiterated a "buy" rating on shares of Sandisk in a research report on Thursday, August 6th. Finally, Sanford C. Bernstein reissued an "outperform" rating on shares of Sandisk in a report on Thursday, August 6th. Three analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, Sandisk has a consensus rating of "Buy" and an average target price of $1,998.14.
Check Out Our Latest Stock Report on Sandisk
Sandisk News Roundup
Here are the key news stories impacting Sandisk this week:
- Positive Sentiment: Major Japan investment supports long-term growth: Sandisk and Kioxia plan to invest more than $31 billion in Japan through 2032, subject to government support, to expand flash-memory production. The spending is intended to address tight supply caused by accelerating AI and data-center demand, while strengthening Sandisk’s long-standing joint venture with Kioxia. Kioxia and Sandisk to Invest Over $31 Billion in Japan
- Positive Sentiment: AI demand remains a powerful industry tailwind: Nvidia’s strong quarterly results and outlook reinforced expectations for sustained spending on AI infrastructure, potentially lifting demand for Sandisk’s NAND flash and enterprise solid-state drives. Analysts also point to pricing strength, constrained supply and multiyear agreements as drivers of near-term growth. Memory and Storage Giants to Gain Amid Nvidia’s Results
- Positive Sentiment: Recent operating performance provides support: Sandisk’s latest quarterly results exceeded expectations, with earnings per share of $39.25 versus the $33.28 consensus and revenue up 371.6% year over year. Its guidance for fiscal 2027 also reflects continued confidence in demand.
- Neutral Sentiment: Long-term opportunity is substantial but execution-dependent: Comparisons with Nvidia’s earlier AI-driven growth phase highlight Sandisk’s data-center potential, but the stock has already gained dramatically, increasing sensitivity to earnings expectations and future supply-demand conditions. Has Sandisk Already Had Its Nvidia Moment?
- Negative Sentiment: Profit-taking is weighing on memory stocks: Investors have been locking in gains after the sector’s sharp rally, causing Sandisk and peers to move lower even after Nvidia’s favorable report. Why Is Sandisk Stock Up on Friday?
- Negative Sentiment: Valuation and policy risks remain concerns: Analysts have flagged the elevated valuation following Sandisk’s extraordinary run, while possible U.S. trade or export-policy changes could create uncertainty for semiconductor suppliers. Mizuho has also lowered its expectations for the stock. Why Memory Stocks Are Sliding
Insider Transactions at Sandisk
In related news, insider Bernard Shek sold 600 shares of the company's stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $1,162.16, for a total transaction of $697,296.00. Following the transaction, the insider owned 30,915 shares in the company, valued at $35,928,176.40. This represents a 1.90% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at 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 the company's stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $1,756.58, for a total transaction of $3,513,160.00. Following the transaction, the executive vice president owned 52,677 shares in the company, valued at approximately $92,531,364.66. This trade represents a 3.66% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 3,800 shares of company stock valued at $6,504,856 over the last ninety days. 0.21% of the stock is currently owned by company insiders.
Sandisk Company Profile
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Free Report)
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.
Further Reading
Want to see what other hedge funds are holding SNDK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Sandisk Corporation (NASDAQ:SNDK - Free Report).
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.
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