Wealth Effects LLC Purchases Shares of 810 Sandisk Corporation $SNDK

Key Points

• Wealth Effects LLC acquired 810 Sandisk shares worth approximately $1.84 million in the second quarter. Other major institutions, including State Street, Geode Capital and Arrowstreet, also increased their positions.
• Sandisk reported quarterly EPS of $39.25, beating estimates by $5.97, 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, citing AI data-center demand and new flash-storage products; Sandisk has an average “Buy” rating and a consensus price target of $1,999.27.

Wealth Effects LLC acquired a new stake in Sandisk Corporation (NASDAQ:SNDK - Free Report) in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 810 shares of the data storage provider's stock, valued at approximately $1,842,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in SNDK. State Street Corp raised its position in Sandisk by 20.7% in the fourth quarter. State Street Corp now owns 5,281,522 shares of the data storage provider's stock worth $1,253,728,000 after purchasing an additional 904,933 shares in the last quarter. Geode Capital Management LLC boosted its holdings in Sandisk by 44.9% during the fourth quarter. Geode Capital Management LLC now owns 3,655,860 shares of the data storage provider's stock valued at $866,310,000 after purchasing an additional 1,133,276 shares in the last quarter. Arrowstreet Capital Limited Partnership boosted its holdings in Sandisk by 31.3% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 3,478,002 shares of the data storage provider's stock valued at $825,608,000 after purchasing an additional 828,332 shares in the last quarter. Morgan Stanley grew its stake in shares of Sandisk by 7.2% in the 4th quarter. Morgan Stanley now owns 2,970,361 shares of the data storage provider's stock valued at $705,105,000 after purchasing an additional 199,545 shares during the period. Finally, Norges Bank bought a new stake in shares of Sandisk in the 4th quarter valued at approximately $518,889,000.

Insider Buying and Selling at Sandisk

In other Sandisk news, insider Bernard Shek sold 600 shares of the business's stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $1,162.16, for a total value of $697,296.00. Following the transaction, the insider owned 30,915 shares of the company's stock, valued at approximately $35,928,176.40. The trade was a 1.90% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Alper Ilkbahar sold 2,000 shares of the stock in a transaction on Monday, June 1st. The stock was sold at an average price of $1,756.58, for a total value of $3,513,160.00. Following the sale, the executive vice president owned 52,677 shares in the company, valued at $92,531,364.66. The trade was a 3.66% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 3,800 shares of company stock valued at $6,504,856. Corporate insiders own 0.21% of the company's stock.

Key Headlines Impacting Sandisk

Here are the key news stories impacting Sandisk this week:

• Positive Sentiment: Sandisk outlined an ambitious long-term financial model, including approximately 80% gross margins, 75% operating margins, 50% free-cash-flow margins and mid-to-high-teens revenue growth through the end of the decade. Management also highlighted long-term customer agreements intended to reduce exposure to the traditional memory boom-and-bust cycle. SanDisk Surges 55% From its July Low: Wall Street Just Got a New Roadmap
• Positive Sentiment: J.P. Morgan began coverage with an Overweight rating and a $2,250 price target, while Wedbush reaffirmed Outperform with a $2,000 target. Evercore ISI also maintained its Buy rating and $2,800 target. The recommendations reinforce expectations for additional earnings growth and potential shareholder returns. Sandisk Stock Tops the S&P 500 as Analysts Rally Behind Its AI Expansion
• Positive Sentiment: Analysts are raising earnings estimates following strong quarterly results and the Investor Day presentation. The company’s latest quarter significantly exceeded consensus expectations, while AI data-center demand and new flash-storage products are viewed as key growth catalysts.
• Positive Sentiment: Broader market conditions also helped: softer inflation data reduced expectations for a September Federal Reserve rate hike, supporting technology and semiconductor stocks. A strong sector-wide memory rally amplified buying in SNDK.

Sandisk Stock Performance

NASDAQ:SNDK opened at $1,641.11 on Monday. Sandisk Corporation has a 1 year low of $42.82 and a 1 year high of $2,354.39. The firm has a 50 day moving average of $1,667.87 and a 200-day moving average of $1,186.09. The stock has a market capitalization of $243.03 billion, a P/E ratio of 22.51, a price-to-earnings-growth ratio of 0.16 and a beta of 5.21.

Sandisk (NASDAQ:SNDK - Get Free Report) last announced its earnings results 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 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 firm's revenue was up 371.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.29 earnings per share. Sandisk has set its Q1 2027 guidance at 44.000-46.000 EPS. As a group, analysts forecast that Sandisk Corporation will post 208.92 EPS for the current fiscal year.

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

Analysts Set New Price Targets

SNDK has been the subject of a number of recent research reports. Bank of America increased their target price on Sandisk from $2,100.00 to $2,500.00 and gave the stock a "buy" rating in a report on Wednesday, July 1st. The Goldman Sachs Group reiterated a "buy" rating and issued a $2,200.00 price target on shares of Sandisk in a research report on Thursday. Wedbush reiterated an "outperform" rating and set a $2,000.00 price objective on shares of Sandisk in a research note on Friday. New Street Research set a $3,000.00 price objective on Sandisk in a report on Thursday, August 6th. Finally, Morgan Stanley lifted their price objective on Sandisk from $1,100.00 to $1,750.00 and gave the company an "overweight" rating in a report on Wednesday, June 3rd. Three analysts have rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, Sandisk currently has an average rating of "Buy" and an average price target of $1,999.27.

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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