Wedbush Securities Inc. Has $15.32 Million Stock Holdings in Sandisk Corporation $SNDK

Key Points

• Wedbush Securities cut its Sandisk stake by 37.2% in the second quarter, selling 3,986 shares and retaining 6,738 shares valued at approximately $15.32 million.
• Analyst sentiment remains bullish: Sandisk has a consensus “Buy” rating and an average price target of $1,998.14, despite some target reductions.
• Sandisk reported quarterly EPS of $39.25, well above the $33.28 consensus, while revenue surged 371.6% year over year. The company also authorized a $14 billion share buyback, equal to up to 6.6% of outstanding shares.

Wedbush Securities Inc. reduced its stake in shares of Sandisk Corporation (NASDAQ:SNDK - Free Report) by 37.2% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 6,738 shares of the data storage provider's stock after selling 3,986 shares during the period. Wedbush Securities Inc.'s holdings in Sandisk were worth $15,320,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the stock. BlackRock Inc. purchased a new position in Sandisk in the second quarter valued at about $23,408,732,000. State Street Corp acquired a new position in Sandisk in the 3rd quarter worth about $491,053,000. Arrowstreet Capital Limited Partnership purchased a new stake in shares of Sandisk during the 3rd quarter worth about $297,293,000. Norges Bank purchased a new stake in shares of Sandisk during the 4th quarter worth about $518,889,000. Finally, Bank of America Corp DE acquired a new stake in shares of Sandisk during the 3rd quarter valued at about $190,425,000.

Analysts Set New Price Targets

Several brokerages recently weighed in on SNDK. Barclays raised shares of Sandisk from an "equal weight" rating to an "overweight" rating and raised their price objective for the company from $1,200.00 to $2,300.00 in a research report on Tuesday, May 26th. Zacks Research upgraded shares of Sandisk from a "hold" rating to a "strong-buy" rating in a research note on Thursday, July 30th. Argus raised shares of Sandisk from a "hold" rating to a "buy" rating in a research note on Monday, August 10th. Susquehanna lowered their target price on shares of Sandisk from $3,250.00 to $3,050.00 and set a "positive" rating on the stock in a research report on Thursday, July 23rd. Finally, Weiss Ratings raised Sandisk from a "hold (c)" rating to a "buy (b-)" rating in a research report on Thursday. Three analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, Sandisk presently has a consensus rating of "Buy" and a consensus price target of $1,998.14.

Sandisk Stock Up 0.0%

Shares of SNDK stock opened at $1,484.98 on Friday. Sandisk Corporation has a 12 month low of $50.07 and a 12 month high of $2,354.39. The firm has a market cap of $217.43 billion, a PE ratio of 20.37, a price-to-earnings-growth ratio of 0.15 and a beta of 5.20. The stock has a 50 day moving average of $1,595.87 and a 200-day moving average of $1,250.36.

Sandisk (NASDAQ:SNDK - Get Free Report) last announced its 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. The business had revenue of $8.96 billion for the quarter. Sandisk had a net margin of 56.47% and a return on equity of 87.84%. The company's revenue was up 371.6% compared to the same quarter last year. During the same period last year, the firm posted $0.29 EPS. Sandisk has set its Q1 2027 guidance at 44.000-46.000 EPS. As a group, equities analysts predict that Sandisk Corporation will post 208.92 EPS for the current fiscal year.

Sandisk announced that its board has authorized a share buyback program on Wednesday, August 5th that allows the company to buyback $14.00 billion in outstanding shares. This buyback authorization allows the data storage provider to reacquire up to 6.6% of its stock through open market purchases. Stock buyback programs are usually a sign that the company's board of directors believes its shares are undervalued.

Key Stories Impacting Sandisk

Here are the key news stories impacting Sandisk this week:

• Positive Sentiment: Major Japan investment supports long-term growth: Sandisk and Kioxia plan to invest more than $31 billion in Japan through 2032, subject to government support, to expand flash-memory production. The spending is intended to address tight supply caused by accelerating AI and data-center demand, while strengthening Sandisk’s long-standing joint venture with Kioxia. Kioxia and Sandisk to Invest Over $31 Billion in Japan
• Positive Sentiment: AI demand remains a powerful industry tailwind: Nvidia’s strong quarterly results and outlook reinforced expectations for sustained spending on AI infrastructure, potentially lifting demand for Sandisk’s NAND flash and enterprise solid-state drives. Analysts also point to pricing strength, constrained supply and multiyear agreements as drivers of near-term growth. Memory and Storage Giants to Gain Amid Nvidia’s Results
• Positive Sentiment: Recent operating performance provides support: Sandisk’s latest quarterly results exceeded expectations, with earnings per share of $39.25 versus the $33.28 consensus and revenue up 371.6% year over year. Its guidance for fiscal 2027 also reflects continued confidence in demand.
• Neutral Sentiment: Long-term opportunity is substantial but execution-dependent: Comparisons with Nvidia’s earlier AI-driven growth phase highlight Sandisk’s data-center potential, but the stock has already gained dramatically, increasing sensitivity to earnings expectations and future supply-demand conditions. Has Sandisk Already Had Its Nvidia Moment?
• Negative Sentiment: Profit-taking is weighing on memory stocks: Investors have been locking in gains after the sector’s sharp rally, causing Sandisk and peers to move lower even after Nvidia’s favorable report. Why Is Sandisk Stock Up on Friday?
• Negative Sentiment: Valuation and policy risks remain concerns: Analysts have flagged the elevated valuation following Sandisk’s extraordinary run, while possible U.S. trade or export-policy changes could create uncertainty for semiconductor suppliers. Mizuho has also lowered its expectations for the stock. Why Memory Stocks Are Sliding

Insider Buying and Selling at Sandisk

In related news, EVP Alper Ilkbahar sold 2,000 shares of the stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $1,756.58, for a total value of $3,513,160.00. Following the completion of the sale, the executive vice president owned 52,677 shares in the company, valued at approximately $92,531,364.66. This trade represents a 3.66% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Bernard Shek sold 600 shares of Sandisk stock in a transaction dated 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 sale, the insider directly owned 30,915 shares in the company, valued at approximately $35,928,176.40. This trade represents a 1.90% 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 a total of 3,800 shares of company stock worth $6,504,856 over the last 90 days. Company insiders own 0.21% 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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