Trybe Capital Management LP Makes New $191.77 Million Investment in Sandisk Corporation $SNDK

Trybe Capital Management LP bought a new stake in Sandisk Corporation (NASDAQ:SNDK) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 84,341 shares of the data storage provider’s stock, valued at approximately $191,769,000. Sandisk comprises approximately 17.6% of Trybe Capital Management LP’s investment portfolio, making the stock its 3rd biggest position.

Other hedge funds have also recently made changes to their positions in the company. Legal & General Group Plc bought a new stake in shares of Sandisk during the second quarter worth about $1,236,765,000. The Manufacturers Life Insurance Company acquired a new position in shares of Sandisk in the second quarter valued at approximately $180,439,000. Fiduciary Financial Advisors bought a new position in Sandisk in the 2nd quarter valued at approximately $252,000. Brandywine Managers LLC bought a new position in Sandisk in the 2nd quarter valued at approximately $568,000. Finally, L2 Asset Management LLC acquired a new stake in Sandisk during the 2nd quarter worth approximately $1,810,000.

Insiders Place Their Bets

In related news, insider Bernard Shek sold 600 shares of the business’s stock in a transaction on Monday, August 3rd. The shares were 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 in the company, valued at $35,928,176.40. The trade was a 1.90% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at 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 company’s stock in a transaction on Monday, June 1st. The shares were sold at an average price of $1,756.58, for a total transaction of $3,513,160.00. Following the sale, the executive vice president directly owned 52,677 shares in the company, valued at $92,531,364.66. This trade represents a 3.66% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 3,800 shares of company stock valued at $6,504,856 in the last three months. 0.21% of the stock is owned by insiders.

Sandisk Stock Performance

NASDAQ:SNDK opened at $1,493.12 on Tuesday. Sandisk Corporation has a fifty-two week low of $46.01 and a fifty-two week high of $2,354.39. The company has a 50 day simple moving average of $1,643.27 and a two-hundred day simple moving average of $1,229.65. The company has a market capitalization of $218.62 billion, a PE ratio of 20.48, a P/E/G ratio of 0.16 and a beta of 5.21.

Sandisk (NASDAQ:SNDK) last issued its quarterly 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. Sandisk had a net margin of 56.47% and a return on equity of 87.84%. The firm had revenue of $8.96 billion for the quarter. During the same quarter last year, the firm posted $0.29 EPS. The firm’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. Research analysts predict that Sandisk Corporation will post 208.92 EPS 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 outstanding shares. This repurchase authorization allows the data storage provider to purchase up to 6.6% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board of directors believes its shares are undervalued.

More Sandisk News

Here are the key news stories impacting Sandisk this week:

• Positive Sentiment: AI-driven demand remains a major growth catalyst. Surging data-center revenue, multi-year contracts and improving revenue visibility have helped support Sandisk’s recent rally and could sustain demand for its storage products. SNDK Jumps 25% in a Month: Is there More Room for the Stock to Rise?
• Positive Sentiment: NAND pricing continues to benefit Sandisk. TrendForce expects prices to rise another 10% to 15% this quarter after an estimated 70% to 75% increase in the prior period; Sandisk indicated that higher pricing drove approximately two-thirds of its latest sequential revenue growth. Sandisk Rode an Estimated 70% Jump in NAND Prices
• Positive Sentiment: Sandisk was highlighted as a profitable company with strong net income and earnings growth. Its planned $14 billion share-repurchase authorization could provide additional support after the stock’s substantial 2026 advance. $27 Billion in Buybacks: 3 Stocks Betting Their Strong Runs Aren’t Over

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on SNDK shares. Royal Bank Of Canada boosted 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, August 14th. Susquehanna dropped their price target on shares of Sandisk from $3,250.00 to $3,050.00 and set a “positive” rating for the company in a research note on Thursday, July 23rd. JPMorgan Chase & Co. assumed coverage on shares of Sandisk in a report on Friday, August 14th. They set an “overweight” rating and a $2,250.00 price target on the stock. Argus raised shares of Sandisk from a “hold” rating to a “buy” rating in a research note on Monday, August 10th. Finally, Morgan Stanley increased 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 research analysts have rated the stock with a Strong Buy rating, twenty have issued a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $1,999.27.

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.