Sandisk Corporation $SNDK Stock: Indiana Trust & Investment Management Co Boosts Position

Key Points

• Indiana Trust & Investment Management increased its Sandisk position by 362.5% in the third quarter, owning 1,272 shares valued at approximately $2.2 million. Several other institutional investors also added to their holdings.
• Wall Street sentiment remains positive, with a consensus “Moderate Buy” rating from 28 analysts and an average price target of $2,120.65, despite some analysts revising targets and the stock’s sharp volatility.
• Sandisk shares opened at $1,260.93 after an 8.5% decline, while the company reported strong quarterly results and authorized a $14 billion stock-repurchase program covering up to 6.6% of outstanding shares.

Indiana Trust & Investment Management Co raised its position in shares of Sandisk Corporation (NASDAQ:SNDK - Free Report) by 362.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,272 shares of the data storage provider's stock after purchasing an additional 997 shares during the period. Indiana Trust & Investment Management Co's holdings in Sandisk were worth $2,213,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also bought and sold shares of the company. Dogwood Wealth Management LLC raised its stake in shares of Sandisk by 14.3% in the second quarter. Dogwood Wealth Management LLC now owns 48 shares of the data storage provider's stock valued at $109,000 after buying an additional 6 shares during the period. Nilsine Partners LLC lifted its position in shares of Sandisk by 3.2% during the 2nd quarter. Nilsine Partners LLC now owns 226 shares of the data storage provider's stock valued at $514,000 after buying an additional 7 shares during the last quarter. Insight Wealth Partners LLC lifted its position in shares of Sandisk by 0.4% during the 2nd quarter. Insight Wealth Partners LLC now owns 1,607 shares of the data storage provider's stock valued at $3,654,000 after buying an additional 7 shares during the last quarter. Cornerstone Financial Management LLC grew its stake in shares of Sandisk by 60.0% during the 2nd quarter. Cornerstone Financial Management LLC now owns 24 shares of the data storage provider's stock worth $55,000 after acquiring an additional 9 shares during the period. Finally, LifeGoal Investments LLC grew its stake in shares of Sandisk by 3.9% during the 3rd quarter. LifeGoal Investments LLC now owns 242 shares of the data storage provider's stock worth $421,000 after acquiring an additional 9 shares during the period.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on SNDK. Susquehanna lowered their price objective on Sandisk from $3,050.00 to $2,745.00 and set a "positive" rating on the stock in a research note on Thursday, August 6th. China Renaissance lifted their target price on shares of Sandisk from $2,000.00 to $2,250.00 and gave the stock a "buy" rating in a research note on Wednesday, August 19th. Zacks Research raised shares of Sandisk from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, October 13th. Wells Fargo & Company upped their price target on shares of Sandisk from $1,400.00 to $1,550.00 and gave the company an "equal weight" rating in a research note on Thursday, August 13th. Finally, Bank of America upped their price target on shares of Sandisk from $2,100.00 to $2,500.00 and gave the company a "buy" rating in a research note on Wednesday, July 1st. Three investment analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and four have issued a Hold rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $2,120.65.

Sandisk Trading Down 8.5%

Shares of NASDAQ:SNDK opened at $1,260.93 on Friday. The company has a 50 day moving average of $1,603.49 and a 200 day moving average of $1,522.08. The stock has a market cap of $182.24 billion, a P/E ratio of 17.30, a P/E/G ratio of 0.14 and a beta of 5.23. Sandisk Corporation has a 12 month low of $146.00 and a 12 month high of $2,354.39.

Sandisk (NASDAQ:SNDK - Get Free Report) last posted its earnings results on Wednesday, August 5th. The data storage provider reported $39.25 earnings per share (EPS) for the quarter, topping the consensus estimate 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 for the quarter. During the same quarter in the prior year, the company earned $0.29 earnings per share. The business's revenue for the quarter was up 371.6% compared to the same quarter last year. Sandisk has set its Q1 2027 guidance at 44.000-46.000 EPS. On average, equities analysts forecast that Sandisk Corporation will post 208.94 earnings per share for the current fiscal year.

Sandisk announced that its board has authorized a stock repurchase plan on Wednesday, August 5th that allows the company to buy back $14.00 billion in outstanding shares. This repurchase authorization allows the data storage provider to buy up to 6.6% of its stock through open market purchases. Share repurchase plans are typically an indication that the company's management believes its stock is undervalued.

Trending Headlines about Sandisk

Here are the key news stories impacting Sandisk this week:

• Positive Sentiment: Strong NAND and AI-storage fundamentals: Analysts and bullish commentators argue that AI data-center construction is driving NAND demand beyond supply. Enterprise SSD growth, firm NAND pricing, and potential shortages through 2028 could support Sandisk’s revenue and margins. Sandisk: Strong Buy Despite China and AI Spending Fears
• Positive Sentiment: Analyst support remains strong: Mizuho analyst Lloyd Walmsley maintained a Buy rating and a $2,050 price target, citing firm NAND pricing and upside from enterprise solid-state drives. Analyst Lloyd Walmsley Initiates Buy on SanDisk
• Positive Sentiment: Earnings could provide a catalyst: Several previews expect Sandisk to benefit from favorable NAND market conditions when it reports on October 29. The stock’s earlier surge followed its return as an independent company in February 2025, reflecting strong investor enthusiasm for the memory cycle. Prediction: Sandisk Stock Will Soar After Oct. 29
• Neutral Sentiment: Sector-wide volatility is elevated: Sandisk has gained dramatically since its separation from Western Digital, but the memory market remains highly cyclical. Its substantial prior appreciation and high volatility leave the stock vulnerable to profit-taking and sharp moves around earnings. Up 3,700%, Should You Buy Sandisk Right Now?
• Negative Sentiment: AI spending concerns are driving the selloff: Investors are questioning whether rising AI infrastructure costs will slow hyperscaler capital expenditures, reducing future demand for memory and storage chips. Sandisk declined alongside Micron, SK Hynix, and other semiconductor stocks as the broader memory-sector liquidation intensified. SanDisk Stock Drops as AI Cost Worries Mount
• Negative Sentiment: Near-term uncertainty is concentrated around earnings: The market is weighing whether strong NAND pricing and AI-related demand can overcome concerns about slowing chip demand, Chinese competition, and the sustainability of elevated valuations.

Insider Activity

In other news, CFO Luis Visoso sold 1,000 shares of the company's 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 owned 130,976 shares of the company's stock, valued at approximately $205,479,078.08. This represents a 0.76% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Bernard Shek sold 2,308 shares of the company's stock in a transaction on Tuesday, September 8th. The stock was sold at an average price of $1,767.33, for a total transaction of $4,078,997.64. Following the completion of the transaction, the insider directly owned 25,305 shares in the company, valued at approximately $44,722,285.65. The trade was a 8.36% decrease in their position. 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 77,899 shares of company stock valued at $121,159,122 over the last 90 days. Company insiders own 0.29% of the company's stock.

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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