NorthCrest Asset Manangement LLC Acquires 2,042 Shares of Sandisk Corporation $SNDK

Key Points

• NorthCrest Asset Management nearly doubled its Sandisk stake in the third quarter, purchasing 2,042 additional shares for a total of 4,116 shares valued at approximately $6.6 million.
• Analysts remain broadly bullish, with a consensus “Moderate Buy” rating and an average price target of $2,120.65. Sandisk also reported strong quarterly results, including $39.25 EPS, $8.96 billion in revenue and 371.6% year-over-year revenue growth.
• Despite the positive outlook and a planned $14 billion share-repurchase program, risks include potential Chinese competition, concerns that memory-cycle pricing may peak and significant insider selling, including recent sales by the CEO and CFO.

NorthCrest Asset Manangement LLC lifted its stake in Sandisk Corporation (NASDAQ:SNDK - Free Report) by 98.5% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,116 shares of the data storage provider's stock after purchasing an additional 2,042 shares during the quarter. NorthCrest Asset Manangement LLC's holdings in Sandisk were worth $6,624,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Valley Wealth Managers Inc. purchased a new position in Sandisk during the first quarter valued at $25,000. Atomic Invest LLC bought a new stake in Sandisk during the 2nd quarter valued at about $25,000. IMG Wealth Management Inc. bought a new stake in Sandisk during the 1st quarter valued at about $29,000. Dunhill Financial LLC bought a new stake in Sandisk during the 2nd quarter valued at about $30,000. Finally, Mowery & Schoenfeld Wealth Management LLC purchased a new position in Sandisk in the second quarter worth about $32,000.

Wall Street Analysts Forecast Growth

SNDK has been the topic of several analyst reports. JPMorgan Chase & Co. began coverage on shares of Sandisk in a research note on Friday, August 14th. They issued an "overweight" rating and a $2,250.00 target price on the stock. Weiss Ratings upgraded shares of Sandisk from a "hold (c+)" rating to a "buy (b-)" rating in a report on Thursday, September 24th. Rosenblatt Securities assumed coverage on shares of Sandisk in a research report on Tuesday, September 22nd. They set a "buy" rating and a $2,400.00 price target for the company. Zacks Research lowered shares of Sandisk from a "strong-buy" rating to a "hold" rating in a report on Monday, September 7th. Finally, Jefferies Financial Group restated a "buy" rating and issued a $1,400.00 price objective (up from $1,000.00) on shares of Sandisk in a report on Thursday, August 6th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $2,120.65.

Sandisk Stock Down 0.3%

SNDK opened at $1,482.33 on Wednesday. The firm has a 50 day moving average price of $1,598.08 and a 200-day moving average price of $1,487.22. Sandisk Corporation has a twelve month low of $120.96 and a twelve month high of $2,354.39. The stock has a market capitalization of $214.24 billion, a price-to-earnings ratio of 21.63, a PEG ratio of 0.15 and a beta of 5.23.

Sandisk (NASDAQ:SNDK - Get Free Report) last issued its quarterly earnings data 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 company had revenue of $8.96 billion for the quarter. During the same quarter last year, the company earned $0.29 EPS. The firm'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. As a group, analysts expect that Sandisk Corporation will post 208.94 earnings per share for the current year.

Sandisk declared that its board has authorized a share repurchase plan on Wednesday, August 5th that permits the company to buy back $14.00 billion in outstanding shares. This repurchase authorization permits the data storage provider to reacquire up to 6.6% of its shares through open market purchases. Share repurchase plans are generally a sign that the company's board of directors believes its shares are undervalued.

Trending Headlines about Sandisk

Here are the key news stories impacting Sandisk this week:

• Positive Sentiment: S&P Global upgraded Sandisk’s credit rating to BBB from BB+, citing stronger cash flows and rising AI-driven memory demand. The upgrade may support investor confidence in the company’s balance sheet. SanDisk Stock Upgraded to BBB by S&P Global
• Positive Sentiment: Investor Nicholas Mugalli said SNDK could reach $3,000 within two years, arguing that projected earnings could leave the stock trading below nine times earnings at that level. Other analysts have also maintained bullish targets, supporting the long-term upside case. SanDisk Has More Upside
• Positive Sentiment: A bullish analysis said fears about Chinese competition and slowing price increases are premature, pointing to robust NAND pricing, approximately $93.9 billion in NBM contracts and $16.5 billion in financial guarantees. Sandisk’s recent earnings also showed sharply higher revenue and earnings. Sandisk: The First Crack in the Memory Supercycle
• Neutral Sentiment: Sandisk is scheduled to report fiscal first-quarter 2027 results on October 29. Management’s guidance of $10.3 billion–$10.8 billion in revenue and $44–$46 in non-GAAP EPS makes the report an important test of whether pricing and margins can remain elevated. Sandisk Falls as Pre-Earnings Caution Weighs on Shares
• Negative Sentiment: Chinese memory maker CXMT outlined progress toward denser memory designs and plans to compete in high-end server memory. The development sparked a broad selloff in memory stocks, with investors fearing future pricing pressure and market-share losses for Sandisk. Memory Stocks Extend Slide Following News of Design Breakthrough in China
• Negative Sentiment: Broader AI-sector weakness and worries about AI funding, lofty semiconductor valuations and the durability of the memory supercycle are weighing on SNDK alongside its peers. Analysts also note that much of Sandisk’s recent growth came from higher pricing, increasing concern about a potential peak in the cycle.
• Negative Sentiment: Reported insider activity shows extensive selling and no insider purchases over the past six months, which may reinforce caution among investors already focused on valuation and earnings risk.

Insider Activity at Sandisk

In other Sandisk news, CEO David Goeckeler sold 33,841 shares of the business's stock in a transaction on Thursday, September 17th. The shares were sold at an average price of $1,574.21, for a total transaction of $53,272,840.61. Following the completion of the sale, the chief executive officer directly owned 382,865 shares in the company, valued at approximately $602,709,911.65. The trade was a 8.12% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Luis Visoso sold 1,000 shares of the stock in a transaction on Tuesday, September 15th. The shares were sold at an average price of $1,568.83, for a total value of $1,568,830.00. Following the transaction, the chief financial officer directly owned 130,976 shares in the company, valued at $205,479,078.08. The trade was a 0.76% 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 have sold a total of 77,899 shares of company stock valued at $121,159,122 in the last quarter. 0.29% of the stock is currently owned by corporate insiders.

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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