Wealthfront Advisers LLC Acquires New Holdings in Sandisk Corporation $SNDK

Wealthfront Advisers LLC bought a new position in Sandisk Corporation (NASDAQ:SNDK) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 28,870 shares of the data storage provider’s stock, valued at approximately $65,643,000.

Other large investors have also recently added to or reduced their stakes in the company. Valley Wealth Managers Inc. bought a new position in shares of Sandisk in the first quarter valued at approximately $25,000. Whittier Trust Co. acquired a new stake in shares of Sandisk in the fourth quarter worth $26,000. Greenline Wealth Management LLC bought a new stake in shares of Sandisk during the 4th quarter worth $26,000. Chung Wu Investment Group LLC bought a new stake in shares of Sandisk during the 4th quarter worth $27,000. Finally, IMG Wealth Management Inc. acquired a new position in Sandisk in the 1st quarter valued at $29,000.

More Sandisk News

Here are the key news stories impacting Sandisk this week:

• Positive Sentiment: Sandisk’s recent Investor Day highlighted significant long-term growth opportunities in AI storage, including high-bandwidth flash memory, a reported $93.9 billion customer backlog and ambitious profitability targets through fiscal 2028–2030. Management also emphasized returning excess cash to shareholders. Sandisk: Too Cheap To Ignore, Too Cyclical To Trust
• Positive Sentiment: JPMorgan initiated coverage with a Buy-equivalent recommendation and a $2,250 price target, citing Sandisk’s positioning in the AI memory market. This follows strong quarterly results, including earnings that exceeded expectations and revenue growth of roughly 372% year over year. SanDisk Gets New Buy Recommendation
• Positive Sentiment: Analysts and market commentators continue to argue that AI infrastructure demand could keep memory pricing and storage demand elevated, with some viewing Sandisk’s high-bandwidth flash products as a potential beneficiary of the shift toward agentic AI. Elon Musk on Memory and Storage Demand
• Neutral Sentiment: After gaining roughly 28% in the prior five sessions and nearly 550% year to date, SNDK is experiencing heightened volatility and profit-taking. Technical analysts are watching nearby support levels to determine whether the rebound can continue or the broader correction resumes. Sandisk Price Forecast
• Neutral Sentiment: Although the memory shortage may persist into 2027, investors remain divided over whether current margins are sustainable. Sandisk’s outlook depends heavily on continued pricing strength, data-center demand and successful execution of its new business model. Sandisk Stock and the Memory Shortage
• Negative Sentiment: A Wall Street Journal report intensified a broad selloff in memory-chip stocks as investors rotated out of AI hardware winners. Sandisk, Micron and Western Digital all came under pressure, indicating that sector-wide positioning is a major factor behind SNDK’s decline. WSJ Report Sends Memory Stocks Down
• Negative Sentiment: Rising Treasury yields are pressuring richly valued growth and semiconductor shares, making investors less willing to pay high multiples for stocks whose earnings are tied to a cyclical memory boom. Higher Rates Test the Memory Boom
• Negative Sentiment: Concerns that memory remains a boom-and-bust industry are resurfacing after SNDK’s parabolic run. Any normalization in NAND pricing or evidence of weaker demand could challenge expectations embedded in the stock’s elevated valuation. Sandisk: Every Bounce Looks Like a Trap

Analyst Ratings Changes

SNDK has been the topic of several recent analyst reports. Royal Bank Of Canada lifted their target price on shares of Sandisk from $1,300.00 to $1,600.00 and gave the stock a “sector perform” rating in a report on Friday. Zacks Research upgraded shares of Sandisk from a “hold” rating to a “strong-buy” rating in a report on Thursday, July 30th. Barclays raised Sandisk from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $1,200.00 to $2,300.00 in a research report on Tuesday, May 26th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $2,900.00 price objective on shares of Sandisk in a research note on Monday, August 10th. Finally, Argus raised Sandisk from a “hold” rating to a “buy” rating in a research report on Monday, August 10th. Three research analysts have rated the stock with a Strong Buy rating, twenty have issued a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, Sandisk has an average rating of “Buy” and an average target price of $1,999.27.

Insider Activity at Sandisk

In other news, insider Bernard Shek sold 600 shares of the business’s stock in a transaction that occurred on Monday, August 3rd. The stock was sold at an average price of $1,162.16, for a total transaction of $697,296.00. Following the sale, the insider directly owned 30,915 shares in the company, 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 SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Alper Ilkbahar sold 2,000 shares of the business’s stock in a transaction that occurred on 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 sale, the executive vice president owned 52,677 shares in the company, valued at approximately $92,531,364.66. This represents a 3.66% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 3,800 shares of company stock worth $6,504,856 in the last three months. 0.21% of the stock is owned by insiders.

Sandisk Stock Performance

Shares of SNDK opened at $1,625.78 on Wednesday. The company has a 50-day simple moving average of $1,670.35 and a 200-day simple moving average of $1,203.01. Sandisk Corporation has a 52 week low of $43.20 and a 52 week high of $2,354.39. The firm has a market capitalization of $240.76 billion, a P/E ratio of 22.30, a P/E/G ratio of 0.16 and a beta of 5.21.

Sandisk (NASDAQ:SNDK) last released its earnings results on Wednesday, August 5th. The data storage provider reported $39.25 earnings per share for the quarter, topping analysts’ consensus estimates of $33.28 by $5.97. Sandisk had a return on equity of 87.84% and a net margin of 56.47%.The business had revenue of $8.96 billion for the quarter. During the same period last year, the business earned $0.29 earnings per share. The firm’s quarterly revenue was up 371.6% compared to the same quarter last year. Sandisk has set its Q1 2027 guidance at 44.000-46.000 EPS. As a group, equities analysts forecast that Sandisk Corporation will post 208.92 earnings per share for the current year.

Sandisk declared that its Board of Directors has initiated a share repurchase plan on Wednesday, August 5th that allows the company to repurchase $14.00 billion in shares. This repurchase authorization allows the data storage provider to reacquire up to 6.6% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board believes its stock is undervalued.

About Sandisk

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.