Oak Grove Capital LLC Makes New $1.22 Million Investment in Sandisk Corporation $SNDK

Key Points

• Oak Grove Capital acquired a new Sandisk position of 700 shares valued at approximately $1.22 million in the third quarter, joining several other institutional investors that increased their holdings.
• Sandisk reported exceptionally strong results, with quarterly revenue up 371.6% year over year to $8.96 billion and EPS of $39.25, above consensus. AI data-center demand and a $14 billion share-repurchase authorization are supporting the bullish outlook.
• Near-term trading remains volatile: shares recently declined amid broader memory-sector concerns and profit-taking after a major rally, while insiders sold shares under pre-arranged 10b5-1 plans. Analysts nevertheless maintain a “Moderate Buy” consensus with an average target price of $2,120.65.

Oak Grove Capital LLC acquired a new position in Sandisk Corporation (NASDAQ:SNDK - Free Report) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 700 shares of the data storage provider's stock, valued at approximately $1,218,000.

A number of other institutional investors have also recently bought and sold shares of SNDK. BlackRock Inc. bought a new position in Sandisk during the second quarter valued at about $23,408,732,000. Arrowstreet Capital Limited Partnership grew its stake in Sandisk by 31.3% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 3,478,002 shares of the data storage provider's stock valued at $825,608,000 after buying an additional 828,332 shares in the last quarter. Situational Awareness LP grew its position in shares of Sandisk by 42.4% in the second quarter. Situational Awareness LP now owns 2,495,344 shares of the data storage provider's stock valued at $5,673,739,000 after purchasing an additional 743,325 shares in the last quarter. Evergreen Quality Fund GP Ltd. bought a new stake in shares of Sandisk during the fourth quarter valued at about $255,848,000. Finally, Wellington Management Group LLP increased its holdings in Sandisk by 71.2% during the 2nd quarter. Wellington Management Group LLP now owns 1,066,886 shares of the data storage provider's stock worth $2,425,811,000 after acquiring an additional 443,714 shares during the period.

Key Sandisk News

Here are the key news stories impacting Sandisk this week:

• Positive Sentiment: AI demand supports the growth outlook. Analysts argue that expanding artificial-intelligence data centers could drive sustained demand for Sandisk’s flash storage, potentially extending the current growth cycle beyond a typical memory upturn. SanDisk’s AI Storage Boom May Have Years to Run
• Positive Sentiment: Recent operating results remain exceptionally strong. Fiscal fourth-quarter revenue rose 372% year over year to approximately $8.97 billion, while gross margin reached 84.6%. The company also exceeded the earnings consensus and issued strong first-quarter fiscal 2027 guidance, reinforcing the bullish fundamental case. Sandisk Posted an 84.6% Margin Quarter
• Positive Sentiment: Mizuho raised its price target, citing demand from “agentic AI,” providing additional support for Sandisk and other memory stocks after the recent decline. Mizuho Raises SanDisk Price Target
• Neutral Sentiment: Short-interest data show no reported short position as of October 9, implying no measurable short-selling pressure in the cited figures. However, the report’s statement that short interest “increased” while totaling zero shares appears internally inconsistent. Short Interest Report
• Negative Sentiment: Memory-sector weakness is weighing on near-term trading. Samsung’s preliminary revenue miss raised concerns about memory demand and pricing, sending Micron, SK Hynix and Sandisk lower together. Investors are also watching higher Treasury yields, oil prices and profit-taking after Sandisk’s extraordinary one-year rally. The Memory Trade Cools After Samsung Results

Insider Buying and Selling

In related news, insider Bernard Shek sold 600 shares of the firm's stock in a transaction that occurred on Thursday, October 1st. The stock was sold at an average price of $1,734.94, for a total transaction of $1,040,964.00. Following the transaction, the insider directly owned 25,588 shares in the company, valued at $44,393,644.72. This trade represents a 2.29% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Alper Ilkbahar sold 4,712 shares of Sandisk stock in a transaction that occurred on Thursday, September 3rd. The stock was sold at an average price of $1,540.58, for a total value of $7,259,212.96. Following the completion of the transaction, the executive vice president directly owned 44,134 shares in the company, valued at $67,991,957.72. This trade represents a 9.65% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 77,899 shares of company stock valued at $121,159,122. 0.21% of the stock is owned by insiders.

Sandisk Stock Down 1.7%

NASDAQ SNDK opened at $1,581.82 on Friday. The company has a 50-day simple moving average of $1,593.00 and a two-hundred day simple moving average of $1,470.61. Sandisk Corporation has a 12-month low of $116.17 and a 12-month high of $2,354.39. The firm has a market cap of $228.62 billion, a price-to-earnings ratio of 21.70, a PEG ratio of 0.16 and a beta of 5.23.

Sandisk (NASDAQ:SNDK - Get Free Report) last released its quarterly earnings data on Wednesday, August 5th. The data storage provider reported $39.25 EPS for the quarter, topping the consensus estimate of $33.28 by $5.97. The firm 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 firm's quarterly revenue was up 371.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.29 EPS. Sandisk has set its Q1 2027 guidance at 44.000-46.000 EPS. Equities analysts expect that Sandisk Corporation will post 208.94 earnings per share for the current fiscal year.

Sandisk announced that its board has approved a share buyback plan on Wednesday, August 5th that permits the company to repurchase $14.00 billion in shares. This buyback authorization permits the data storage provider to purchase up to 6.6% of its stock through open market purchases. Stock buyback plans are typically an indication that the company's leadership believes its shares are undervalued.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on SNDK. Wells Fargo & Company upped their target price on Sandisk from $1,400.00 to $1,550.00 and gave the stock an "equal weight" rating in a research note on Thursday, August 13th. Mizuho increased their price objective on Sandisk from $1,875.00 to $2,050.00 and gave the company an "outperform" rating in a research report on Tuesday. UBS Group reissued an "overweight" rating and set a $1,750.00 price objective on shares of Sandisk in a report on Friday, August 14th. The Goldman Sachs Group restated a "buy" rating and issued a $2,200.00 target price (up from $1,200.00) on shares of Sandisk in a research report on Thursday, August 13th. Finally, Sanford C. Bernstein reaffirmed an "outperform" rating and issued a $3,000.00 target price (up from $1,700.00) on shares of Sandisk in a research note on Thursday, August 6th. Two research analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $2,120.65.

Sandisk Company 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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