State of Alaska Department of Revenue Sells 1,878 Shares of Sandisk Corporation $SNDK

Key Points

• State of Alaska Department of Revenue reduced its Sandisk stake by 8.3%, selling 1,878 shares and retaining 20,739 shares valued at approximately $36.1 million.
• Sandisk reported quarterly EPS of $39.25, exceeding estimates by $5.97, while revenue surged 371.6% year over year to $8.96 billion. The company also authorized a $14 billion share-buyback program.
• Analysts remain broadly bullish, with a consensus “Moderate Buy” rating and an average price target of $2,120.65, though insider selling, high stock volatility and rising Chinese competition present risks.

State of Alaska Department of Revenue decreased its stake in Sandisk Corporation (NASDAQ:SNDK - Free Report) by 8.3% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 20,739 shares of the data storage provider's stock after selling 1,878 shares during the quarter. State of Alaska Department of Revenue's holdings in Sandisk were worth $36,082,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of SNDK. Atomic Invest LLC acquired a new stake in shares of Sandisk during the 2nd quarter worth approximately $25,000. Dunhill Financial LLC acquired a new position in shares of Sandisk in the 2nd quarter valued at $30,000. Mowery & Schoenfeld Wealth Management LLC acquired a new position in shares of Sandisk in the 2nd quarter valued at $32,000. Kilter Group LLC purchased a new stake in Sandisk during the second quarter worth $32,000. Finally, KERR FINANCIAL PLANNING Corp purchased a new stake in Sandisk during the second quarter worth $34,000.

Sandisk Price Performance

NASDAQ SNDK traded down $66.34 on Thursday, hitting $1,337.00. The company had a trading volume of 8,979,076 shares, compared to its average volume of 15,096,294. The company's fifty day moving average price is $1,599.14 and its 200-day moving average price is $1,492.85. The company has a market capitalization of $193.23 billion, a PE ratio of 18.30, a PEG ratio of 0.15 and a beta of 5.23. Sandisk Corporation has a 12-month low of $136.29 and a 12-month high of $2,354.39.

Sandisk (NASDAQ:SNDK - Get Free Report) last posted its quarterly earnings data on Wednesday, August 5th. The data storage provider reported $39.25 earnings per share (EPS) for the quarter, beating 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 period in the previous year, the business earned $0.29 earnings per share. The business'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. On average, sell-side analysts anticipate that Sandisk Corporation will post 208.94 EPS for the current year.

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

Insider Activity at Sandisk

In related news, CFO Luis Visoso sold 1,000 shares of the company's stock in a transaction dated 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 transaction, the chief financial officer owned 130,976 shares in the company, valued at $205,479,078.08. This represents a 0.76% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO David Goeckeler sold 33,841 shares of the firm's stock in a transaction dated 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 transaction, the chief executive officer directly owned 382,865 shares in the company, valued at $602,709,911.65. This represents a 8.12% 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 sold 77,899 shares of company stock worth $121,159,122 over the last three months. Company insiders own 0.29% of the company's stock.

Analysts Set New Price Targets

Several analysts recently commented on the stock. Argus upgraded shares of Sandisk from a "hold" rating to a "buy" rating and set a $1,600.00 price target on the stock in a research report on Monday, August 10th. Wedbush reiterated an "outperform" rating and issued a $2,000.00 price objective on shares of Sandisk in a research report on Friday, August 14th. Susquehanna dropped their target price on Sandisk from $3,050.00 to $2,745.00 and set a "positive" rating on the stock in a research report on Thursday, August 6th. UBS Group restated an "overweight" rating and set a $1,750.00 target price on shares of Sandisk in a research report on Friday, August 14th. Finally, Sanford C. Bernstein restated an "outperform" rating and issued a $3,000.00 price target (up from $1,700.00) on shares of Sandisk in a research note on Thursday, August 6th. Three research analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $2,120.65.

Sandisk News Summary

Here are the key news stories impacting Sandisk this week:

• Positive Sentiment: Zacks Research upgraded Sandisk from “hold” to “strong buy,” adding a favorable analyst signal after the recent pullback.
• Positive Sentiment: Sandisk’s data-storage partnership with Meta Platforms for Meta VR Glasses supports the company’s exposure to growing AI, virtual-reality and high-performance storage demand. SanDisk Stock Drops Despite a Data Storage Partnership with Meta
• Positive Sentiment: Some analysts view the decline as a buying opportunity, citing strong AI infrastructure demand, robust NAND pricing and Sandisk’s long-term contract backlog. One bullish view places a potential target at $3,000, while other commentary argues that fears of a memory-cycle breakdown are premature. AI Memory Chip Selloff Looks Overblown
• Neutral Sentiment: TSMC’s indication that AI-chip demand remains greater than supply supports the long-term outlook for memory suppliers, but it has not offset near-term concerns about valuation, competition and sector-wide risk reduction.
• Negative Sentiment: Reports that CXMT has made progress in designing and developing server memory are raising fears that Chinese competition could eventually pressure Sandisk’s market share, pricing power and profit margins. Memory Stocks Extend Slide Following News of Design Breakthrough in China
• Negative Sentiment: The memory-stock selloff has broadened across Sandisk, Micron, SK hynix and Samsung, with roughly $1 trillion in combined market value reportedly erased since October 2. A broader AI-trade unwind and an expected eighth consecutive decline for the semiconductor ETF SOXX are adding selling pressure. Chip Meltdown Hits Memory Makers
• Negative Sentiment: Hotter-than-expected U.S. inflation data has increased concern about interest rates and reduced appetite for high-beta technology stocks, further weighing on Sandisk despite its strong AI-related growth prospects. Why Memory Stocks Are Falling

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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