Meeder Asset Management Inc. Purchases New Position in Sandisk Corporation $SNDK

Key Points

• Meeder Asset Management initiated a Sandisk position in the second quarter, purchasing 4,024 shares valued at approximately $9.15 million. Several other institutional investors also recently established stakes.
• Sandisk reported quarterly EPS of $39.25, beating estimates by $5.97, while revenue surged 371.6% year over year to $8.96 billion. The company also authorized a $14 billion share buyback, covering up to 6.6% of outstanding shares.
• Wall Street remains broadly bullish, with a consensus “Buy” rating and an average price target of $1,999.27, although analysts and critics continue to flag valuation and margin-durability risks if flash-memory pricing or AI demand weakens.

Meeder Asset Management Inc. purchased a new stake in shares of Sandisk Corporation (NASDAQ:SNDK - Free Report) in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 4,024 shares of the data storage provider's stock, valued at approximately $9,149,000.

Several other institutional investors and hedge funds have also bought and sold shares of SNDK. Valley Wealth Managers Inc. bought a new stake in shares of Sandisk in the 1st quarter worth approximately $25,000. Whittier Trust Co. purchased a new position in shares of Sandisk during the fourth quarter valued at approximately $26,000. Greenline Wealth Management LLC bought a new position in shares of Sandisk during the fourth quarter valued at approximately $26,000. Chung Wu Investment Group LLC bought a new position in shares of Sandisk during the fourth quarter valued at approximately $27,000. Finally, IMG Wealth Management Inc. bought a new position in shares of Sandisk during the first quarter valued at approximately $29,000.

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Trending Headlines about Sandisk

Here are the key news stories impacting Sandisk this week:

• Positive Sentiment: Investor Day highlighted substantial future demand. SanDisk reported a $93.9 billion customer backlog and outlined projections for strong revenue growth through 2030. Management also indicated that long-term contracts provide multiyear volume and pricing visibility, helping support the view that AI-driven storage demand could be more durable than prior memory cycles. SanDisk’s Analyst Day Just Strengthened Micron’s $1,550 Bull Case
• Positive Sentiment: AI memory demand fueled a sector-wide rally. Comments from Elon Musk about the growing memory and storage requirements of agentic AI, along with reports that Washington is encouraging Apple to move away from Chinese DRAM suppliers, boosted SanDisk and other memory-chip companies. The potential shift toward U.S. suppliers strengthened the near-term industry narrative. Elon Musk Just Uttered 3 Massively Bullish Words for Micron, Sandisk, and SK Hynix
• Positive Sentiment: Analysts continued to endorse the outlook. Bernstein described SanDisk’s high-bandwidth flash as potentially a “game changer” for AI, while Wedbush reiterated its Outperform rating and JPMorgan initiated coverage. Investors were also encouraged by management’s plans to significantly increase capital returns to shareholders. Bernstein Analyst Calls SanDisk’s High Bandwidth Flash a Game Changer for AI
• Neutral Sentiment: Hedge-fund positioning was mixed. Appaloosa Management sold its SanDisk position in the second quarter while reallocating toward larger AI companies. The move may signal profit-taking after the stock’s dramatic year-to-date rally, but it does not necessarily challenge SanDisk’s operating fundamentals. David Tepper Cuts Micron Stake, Exits SanDisk
• Negative Sentiment: Valuation and margin durability remain concerns. Critics argue that the current valuation assumes unusually strong pricing and margins will persist, despite much of recent growth being price-driven rather than volume-driven. A normalization in flash-memory pricing, stronger yen, or weaker AI spending could create significant downside. SanDisk: Every Bounce Looks Like a Trap

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the stock. Evercore reiterated an "outperform" rating on shares of Sandisk in a report on Thursday. Bank of America upped their price objective on shares of Sandisk from $2,100.00 to $2,500.00 and gave the stock a "buy" rating in a report on Wednesday, July 1st. Weiss Ratings cut shares of Sandisk from a "hold (c+)" rating to a "hold (c)" rating in a research report on Friday. UBS Group reaffirmed an "overweight" rating and issued a $1,750.00 target price on shares of Sandisk in a research report on Friday. Finally, Sanford C. Bernstein reaffirmed an "outperform" rating on shares of Sandisk in a research note on Thursday, August 6th. Three investment analysts have rated the stock with a Strong Buy rating, twenty have issued a Buy rating and three have given a Hold rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Buy" and a consensus price target of $1,999.27.

Insider Activity

In other news, EVP Alper Ilkbahar sold 2,000 shares of the business's stock in a transaction that occurred on 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 of the company's stock, valued at $92,531,364.66. The trade was a 3.66% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Bernard Shek sold 600 shares of the business's stock in a transaction that occurred on 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 in the company, valued at approximately $35,928,176.40. This represents a 1.90% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 3,800 shares of company stock valued at $6,504,856. 0.21% of the stock is owned by company insiders.

Sandisk Stock Up 8.9%

SNDK opened at $1,786.85 on Tuesday. The stock has a market cap of $264.61 billion, a PE ratio of 24.51, a PEG ratio of 0.16 and a beta of 5.21. The business has a 50 day moving average of $1,670.76 and a 200-day moving average of $1,195.28. Sandisk Corporation has a 52 week low of $43.20 and a 52 week high of $2,354.39.

Sandisk (NASDAQ:SNDK - Get Free Report) last released its quarterly earnings results on Wednesday, August 5th. The data storage provider reported $39.25 earnings per share for the quarter, beating the consensus estimate 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 company's revenue for the quarter was up 371.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.29 earnings per share. Sandisk has set its Q1 2027 guidance at 44.000-46.000 EPS. Equities 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 buyback plan on Wednesday, August 5th that authorizes the company to buyback $14.00 billion in shares. This buyback authorization authorizes the data storage provider to reacquire up to 6.6% of its stock through open market purchases. Stock buyback plans are usually a sign that the company's management believes its shares are 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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