Sandisk Corporation $SNDK Stock Bought by TD Waterhouse Canada Inc.

Key Points

• TD Waterhouse Canada increased its Sandisk stake by 18.5% in the third quarter, bringing its holdings to 26,707 shares valued at approximately $48.9 million. Other institutional investors, including Situational Awareness, Wellington Management, SG Americas and Amundi, also raised their positions.
• Sandisk reported quarterly EPS of $39.25, beating estimates of $33.28, while revenue surged 371.6% year over year to $8.96 billion. The company also authorized a $14 billion share-repurchase program covering up to 6.6% of outstanding shares.
• Analysts remain broadly bullish, with a consensus “Moderate Buy” rating and an average price target of $2,120.65, but the stock remains highly volatile as memory-chip investors weigh strong AI and data-center demand against oversupply, Chinese competition and cyclical risks.

TD Waterhouse Canada Inc. raised its position in Sandisk Corporation (NASDAQ:SNDK - Free Report) by 18.5% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 26,707 shares of the data storage provider's stock after acquiring an additional 4,175 shares during the period. TD Waterhouse Canada Inc.'s holdings in Sandisk were worth $48,861,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of SNDK. BlackRock Inc. acquired a new position in shares of Sandisk during the second quarter worth $23,408,732,000. Situational Awareness LP lifted its holdings in shares of Sandisk by 42.4% during the 2nd 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 during the last quarter. Wellington Management Group LLP lifted its holdings in shares of 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 valued at $2,425,811,000 after purchasing an additional 443,714 shares during the last quarter. SG Americas Securities LLC boosted its position in shares of Sandisk by 108.4% in the 1st quarter. SG Americas Securities LLC now owns 944,503 shares of the data storage provider's stock worth $600,081,000 after purchasing an additional 491,359 shares in the last quarter. Finally, Amundi boosted its position in shares of Sandisk by 135.5% in the 1st quarter. Amundi now owns 872,632 shares of the data storage provider's stock worth $554,418,000 after purchasing an additional 502,166 shares in the last quarter.

Sandisk Price Performance

Sandisk stock traded down $95.53 during mid-day trading on Friday, reaching $1,299.30. 8,871,699 shares of the company traded hands, compared to its average volume of 8,782,726. Sandisk Corporation has a fifty-two week low of $136.29 and a fifty-two week high of $2,354.39. The company has a market capitalization of $187.79 billion, a price-to-earnings ratio of 17.82, a price-to-earnings-growth ratio of 0.14 and a beta of 5.23. The firm's fifty day moving average is $1,603.61 and its two-hundred day moving average is $1,496.95.

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 (EPS) for the quarter, topping 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 business had revenue of $8.96 billion during the quarter. During the same period in the prior year, the business posted $0.29 EPS. The company'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. As a group, equities research analysts predict that Sandisk Corporation will post 208.94 earnings per share for the current year.

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

Insider Transactions at Sandisk

In related news, 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 value of $7,259,212.96. Following the completion of the transaction, the executive vice president owned 44,134 shares in the company, valued at $67,991,957.72. This trade represents a 9.65% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Luis Visoso sold 1,000 shares of the firm's stock in a transaction on Tuesday, September 15th. The stock was sold at an average price of $1,568.83, for a total value of $1,568,830.00. Following the completion of the transaction, the chief financial officer owned 130,976 shares of the company's stock, valued at $205,479,078.08. This trade represents a 0.76% 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 $121,159,122 in the last quarter. Insiders own 0.29% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on SNDK shares. Rosenblatt Securities assumed coverage on Sandisk in a research note on Tuesday, September 22nd. They set a "buy" rating and a $2,400.00 target price on the stock. Jefferies Financial Group reaffirmed a "buy" rating and set a $1,400.00 target price (up from $1,000.00) on shares of Sandisk in a research report on Thursday, August 6th. Citigroup reiterated a "buy" rating on shares of Sandisk in a research note on Thursday, October 1st. Bank of America raised their price target on Sandisk from $2,100.00 to $2,500.00 and gave the stock a "buy" rating in a report on Wednesday, July 1st. Finally, China Renaissance raised their price target on Sandisk from $2,000.00 to $2,250.00 and gave the stock a "buy" rating in a report on Wednesday, August 19th. Three analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $2,120.65.

Key Stories Impacting Sandisk

Here are the key news stories impacting Sandisk this week:

• Positive Sentiment: Sandisk’s long-term growth case remains supported by strong data-center demand. One analysis argues that the company’s revenue growth, earnings power and $15.5 billion buyback authorization could support further earnings-per-share accretion if cash generation remains robust. Sandisk: The Earnings Boom Is Only Half The Story
• Positive Sentiment: Sandisk reportedly has at least $93.9 billion of expected revenue secured through multiyear contracts, including financial protections if customers fail to meet commitments. This provides meaningful demand visibility despite near-term market volatility. SanDisk Stock Is Falling on AI Fears. Its $93.9 Billion Contract Book Tells Another Story
• Positive Sentiment: Bullish analysts say continued AI infrastructure spending and data-center demand could drive substantial additional upside, with one projection placing the shares at $4,128 over the next year. Sandisk Stock Could Be Worth $4,128 in the Next Year
• Neutral Sentiment: Sandisk was upgraded by Zacks Research from “hold” to “strong buy,” although the upgrade has not offset broader sector selling.
• Negative Sentiment: Memory-chip stocks, including Sandisk, Micron and SK Hynix, are continuing a multiday selloff. Investors are concerned about Chinese competitors’ server-memory plans, cyclical oversupply and the durability of recent margin expansion. Memory Stocks Extend Selloff on China Competition Fears
• Negative Sentiment: Cathie Wood warned that memory-chip cycles can be “vicious” and indicated that her ARK strategy is moving away from the group, raising concerns that Sandisk’s rapid gains and expanding margins may not be sustainable. Cathie Wood Says the Memory Chip Trend Is Up but the Cycles Are Vicious
• Negative Sentiment: Higher Treasury yields and the possibility of an October Federal Reserve rate hike are weighing on growth and AI-related equities, adding to pressure on Sandisk. Nasdaq 100 Slides As Micron, SanDisk, CoreWeave Sink

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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