NewEdge Advisors LLC Increases Stake in Sandisk Corporation $SNDK

Key Points

• NewEdge Advisors increased its Sandisk stake by 66.7% in the second quarter, adding 12,092 shares to hold 30,221 shares valued at approximately $68.7 million. Several other institutional investors also increased or initiated positions.
• Sandisk insiders sold 9,220 shares worth $14.8 million over the past three months, including transactions by Bernard Shek and EVP Alper Ilkbahar under pre-arranged Rule 10b5-1 plans.
• Despite valuation and memory-market cyclicality risks, analysts maintain a consensus “Buy” rating with an average price target of $1,998.14. Sandisk also reported sharply higher quarterly revenue and authorized a $14 billion share-repurchase program.

NewEdge Advisors LLC grew its holdings in shares of Sandisk Corporation (NASDAQ:SNDK - Free Report) by 66.7% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 30,221 shares of the data storage provider's stock after purchasing an additional 12,092 shares during the quarter. NewEdge Advisors LLC's holdings in Sandisk were worth $68,715,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the business. GFG Capital LLC purchased a new position in shares of Sandisk in the second quarter worth about $225,000. Baird Financial Group Inc. boosted its holdings in shares of Sandisk by 188.6% during the 2nd quarter. Baird Financial Group Inc. now owns 11,152 shares of the data storage provider's stock worth $25,357,000 after purchasing an additional 7,288 shares during the last quarter. Hudock Inc. acquired a new stake in shares of Sandisk in the second quarter valued at approximately $514,000. JW Asset Management LLC increased its holdings in shares of Sandisk by 20.2% in the second quarter. JW Asset Management LLC now owns 7,810 shares of the data storage provider's stock valued at $17,758,000 after purchasing an additional 1,310 shares during the last quarter. Finally, Arizona State Retirement System lifted its position in Sandisk by 3.8% during the second quarter. Arizona State Retirement System now owns 39,709 shares of the data storage provider's stock worth $90,288,000 after buying an additional 1,467 shares in the last quarter.

Insider Activity

In other news, insider Bernard Shek sold 2,308 shares of the stock in a transaction that occurred on Tuesday, September 8th. The stock was sold at an average price of $1,767.33, for a total value of $4,078,997.64. Following the completion of the sale, the insider directly owned 25,305 shares of the company's stock, valued at approximately $44,722,285.65. This represents a 8.36% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Alper Ilkbahar sold 4,712 shares of the firm's stock in a transaction on Thursday, September 3rd. The stock was sold at an average price of $1,540.58, for a total transaction of $7,259,212.96. Following the transaction, the executive vice president directly owned 44,134 shares in the company, valued at $67,991,957.72. The trade was a 9.65% 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. Insiders sold a total of 9,220 shares of company stock valued at $14,829,223 over the last three months. Company insiders own 0.21% of the company's stock.

Sandisk News Summary

Here are the key news stories impacting Sandisk this week:

• Positive Sentiment: S&P 100 inclusion is a near-term catalyst. Sandisk will join the S&P 100 before trading opens on September 21. The addition could attract buying from index funds and increase institutional visibility after the stock’s powerful rally. SanDisk S&P 100 inclusion article
• Positive Sentiment: AI infrastructure demand is tightening the memory market. Articles point to strong demand for NAND and data-center storage, with supply constraints supporting pricing and margins across memory-chip makers. This has helped drive substantial recent gains in SNDK and peers such as Micron. Sandisk NAND article
• Positive Sentiment: Investors see improving cash generation and less exposure to spot-market volatility. One analysis estimates approximately $24 billion of fiscal 2027 free cash flow and highlights management’s intention to return excess cash to shareholders. Long-term supply agreements, reportedly totaling $93.9 billion, could make revenue more predictable than in prior NAND cycles. Sandisk free cash flow article
• Neutral Sentiment: Analyst sentiment is mixed after a more than 500% 2026 rally. Some commentators believe earnings growth and AI demand can extend the advance, while valuation models and technical indicators suggest expectations are already aggressive. Sandisk rally outlook article
• Negative Sentiment: Valuation and memory cyclicality are the main risks. Coverage warns that the rally may have moved ahead of fundamentals, while NAND pricing, customer spending and supply conditions can reverse quickly. A pullback or profit-taking would be more likely if demand expectations weaken. Zacks Sandisk rally risk article

Wall Street Analyst Weigh In

SNDK has been the subject of several analyst reports. Argus upgraded Sandisk from a "hold" rating to a "buy" rating in a report on Monday, August 10th. Susquehanna dropped their price objective on shares of Sandisk from $3,250.00 to $3,050.00 and set a "positive" rating for the company in a report on Thursday, July 23rd. Sanford C. Bernstein reiterated an "outperform" rating on shares of Sandisk in a report on Thursday, August 6th. Mizuho lowered their price objective on Sandisk from $1,900.00 to $1,875.00 and set an "outperform" rating for the company in a research report on Tuesday, August 25th. Finally, Bank of America raised their target price on Sandisk from $2,100.00 to $2,500.00 and gave the stock a "buy" rating in a research note on Wednesday, July 1st. Three research 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 company. Based on data from MarketBeat.com, Sandisk has a consensus rating of "Buy" and an average price target of $1,998.14.

Sandisk Stock Performance

SNDK stock opened at $1,737.99 on Wednesday. Sandisk Corporation has a fifty-two week low of $69.57 and a fifty-two week high of $2,354.39. The firm has a market capitalization of $254.47 billion, a price-to-earnings ratio of 23.84, a PEG ratio of 0.17 and a beta of 5.17. The company's 50 day moving average price is $1,526.40 and its 200 day moving average price is $1,305.86.

Sandisk (NASDAQ:SNDK - Get Free Report) last posted 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 return on equity of 87.84% and a net margin of 56.47%.The company had revenue of $8.96 billion for the quarter. During the same quarter in the prior year, the business earned $0.29 earnings per share. The firm's quarterly revenue was up 371.6% on a year-over-year basis. Sandisk has set its Q1 2027 guidance at 44.000-46.000 EPS. Equities analysts forecast that Sandisk Corporation will post 208.92 EPS for the current fiscal year.

Sandisk announced that its Board of Directors has authorized a share buyback plan on Wednesday, August 5th that allows the company to repurchase $14.00 billion in outstanding shares. This repurchase authorization allows the data storage provider to reacquire up to 6.6% of its shares through open market purchases. Shares repurchase plans are often a sign that the company's management believes its shares are undervalued.

About Sandisk

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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