QRG Capital Management Inc. Trims Stock Position in Sandisk Corporation $SNDK

Key Points

• QRG Capital Management cut its Sandisk position by 67% in the second quarter, selling 7,644 shares and retaining 3,767 shares valued at approximately $8.6 million. Other major institutions, including BlackRock, Wellington Management and UBS, increased or initiated positions.
• Sandisk reported strong quarterly results, with EPS of $39.25 versus the $33.28 analyst consensus and revenue of $8.96 billion, up 371.6% year over year. The company also authorized a $14 billion share-repurchase program covering up to 6.6% of outstanding shares.
• Analysts remain broadly positive, citing AI-driven memory demand, secured production commitments and S&P 100 inclusion; Sandisk carries a “Moderate Buy” consensus rating with an average price target of $2,015.61. Risks include elevated valuation, weak consumer demand, NAND-cycle volatility and potential future supply increases.

QRG Capital Management Inc. trimmed its position in shares of Sandisk Corporation (NASDAQ:SNDK - Free Report) by 67.0% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,767 shares of the data storage provider's stock after selling 7,644 shares during the period. QRG Capital Management Inc.'s holdings in Sandisk were worth $8,566,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. BlackRock Inc. purchased a new position in shares of Sandisk in the 2nd quarter worth $23,408,732,000. Situational Awareness LP grew its position in Sandisk by 42.4% in the second quarter. Situational Awareness LP now owns 2,495,344 shares of the data storage provider's stock worth $5,673,739,000 after acquiring an additional 743,325 shares in the last quarter. Wellington Management Group LLP grew its position in Sandisk by 71.2% in the second 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 in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Sandisk by 57.4% during the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 726,722 shares of the data storage provider's stock worth $1,652,370,000 after acquiring an additional 264,935 shares during the last quarter. Finally, Bank of New York Mellon Corp bought a new stake in Sandisk during the second quarter worth approximately $1,621,353,000.

Sandisk Stock Performance

Shares of SNDK stock opened at $1,753.62 on Friday. The stock has a 50 day moving average price of $1,515.99 and a 200 day moving average price of $1,397.07. Sandisk Corporation has a 52-week low of $93.54 and a 52-week high of $2,354.39. The firm has a market capitalization of $256.77 billion, a P/E ratio of 24.06, a P/E/G ratio of 0.19 and a beta of 5.17.

Sandisk (NASDAQ:SNDK - Get Free Report) last released its earnings results on Wednesday, August 5th. The data storage provider reported $39.25 earnings per share for the quarter, topping analysts' consensus estimates of $33.28 by $5.97. The business 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 business's revenue for the quarter was up 371.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.29 EPS. Sandisk has set its Q1 2027 guidance at 44.000-46.000 EPS. As a group, sell-side analysts forecast that Sandisk Corporation will post 208.94 EPS for the current year.

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

Key Stories Impacting Sandisk

Here are the key news stories impacting Sandisk this week:

• Positive Sentiment: Rosenblatt Securities upgraded Sandisk to “strong buy” and set a $2,400 price target, citing accelerating AI-memory demand and improving forward earnings. Why Rosenblatt Thinks Sandisk Stock Is Headed for $2,400
• Positive Sentiment: Analysts continue to view Sandisk as a major beneficiary of the AI infrastructure cycle. High-bandwidth flash memory, growing inferencing demand and multi-year supply commitments could support earnings visibility and provide protection against NAND price declines. Sandisk: Market Is Still Undervaluing The AI Supercycle Upside
• Positive Sentiment: Sandisk has reportedly secured buyers for approximately half of its current-year production and two-thirds of next year’s output, with price floors designed to stabilize margins. The company is also investing with Kioxia in Japan, potentially expanding long-term production capacity. Sandisk Has Signed Away Two Thirds of Next Year's Output
• Positive Sentiment: The company’s S&P 100 inclusion and multibillion-dollar share-repurchase authorization may attract index-related buying and support earnings per share by reducing the share count. Sandisk Joins the S&P 100
• Neutral Sentiment: Reported short interest was listed at zero shares, implying no measurable short-selling pressure in the cited data. The figure conflicts with the description of a “large increase” in short interest and may reflect a reporting or timing issue.
• Negative Sentiment: Memory stocks, including Sandisk, Micron and SK hynix, declined together as investors locked in gains and reassessed lofty valuations after a powerful rally. Analysts also flag weak consumer demand, rising costs, NAND-cycle risks and potential future supply from competitors as headwinds. Why Memory Stocks Are Down Today

Wall Street Analyst Weigh In

Several research firms have recently issued reports on SNDK. UBS Group reaffirmed an "overweight" rating and issued a $1,750.00 price objective on shares of Sandisk in a research note on Friday, August 14th. Rosenblatt Securities initiated coverage on Sandisk in a research report on Tuesday. They set a "buy" rating and a $2,400.00 target price on the stock. Susquehanna decreased their price target on Sandisk from $3,250.00 to $3,050.00 and set a "positive" rating on the stock in a report on Thursday, July 23rd. Sanford C. Bernstein restated an "outperform" rating on shares of Sandisk in a research report on Thursday, August 6th. Finally, Royal Bank Of Canada lifted their price objective on shares of Sandisk from $1,300.00 to $1,600.00 and gave the stock a "sector perform" rating in a research note on Friday, August 14th. Three equities research analysts have rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $2,015.61.

Insider Activity at Sandisk

In other news, CFO Luis Visoso sold 1,000 shares of Sandisk stock in a transaction that occurred on Tuesday, September 15th. The shares were sold at an average price of $1,568.83, for a total transaction of $1,568,830.00. Following the completion of the sale, the chief financial officer owned 130,976 shares of the company's stock, valued at approximately $205,479,078.08. The trade was a 0.76% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Alper Ilkbahar sold 4,712 shares of the business's stock in a transaction that occurred on Thursday, September 3rd. The shares were sold at an average price of $1,540.58, for a total value of $7,259,212.96. Following the completion of the sale, the executive vice president owned 44,134 shares of the company's stock, valued at $67,991,957.72. The trade was a 9.65% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 77,899 shares of company stock valued at $121,370,958 in the last quarter. Corporate insiders own 0.21% of the company's stock.

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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