Sequoia Financial Advisors LLC Lowers Stake in Sandisk Corporation $SNDK

Sequoia Financial Advisors LLC decreased its holdings in shares of Sandisk Corporation (NASDAQ:SNDK) by 11.8% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 4,829 shares of the data storage provider’s stock after selling 646 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in Sandisk were worth $10,980,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently added to or reduced their stakes in SNDK. Osaic Holdings Inc. purchased a new stake in shares of Sandisk during the second quarter worth approximately $317,000. Merit Financial Group LLC acquired a new stake in shares of Sandisk in the 3rd quarter worth $408,000. Dimensional Fund Advisors LP acquired a new position in shares of Sandisk during the third quarter worth about $100,080,000. First Trust Advisors LP purchased a new position in Sandisk during the third quarter worth about $9,788,000. Finally, Blair William & Co. IL purchased a new position in shares of Sandisk during the 3rd quarter worth approximately $591,000.

Sandisk News Roundup

Here are the key news stories impacting Sandisk this week:

• Positive Sentiment: AI-driven NAND demand remains a long-term support. Analysts continue to point to strong data-center and artificial-intelligence infrastructure demand, tight memory supply and potentially higher NAND prices as reasons for optimism about Sandisk’s earnings and margins. Memory prices and Sandisk article
• Positive Sentiment: Citi maintained its Buy rating and $2,100 price target. The analyst cited strengthening AI-related NAND demand, leaving the target above the company’s current trading level. Citi Sandisk rating article
• Neutral Sentiment: Investors remain divided after an extraordinary rally. Sandisk has gained more than 600% year to date, creating substantial momentum but also raising questions about valuation, sustainability of margins and the risk of additional profit-taking. A Goldman Sachs view that the memory downturn may be easing provides sector support, although it has not prevented near-term volatility. Memory stocks outlook article
• Negative Sentiment: Macro conditions triggered a broad technology selloff. Higher oil prices intensified concerns that inflation could keep interest rates elevated, weighing particularly heavily on high-beta growth stocks such as SNDK and its memory-chip peers. Memory stocks falling article
• Negative Sentiment: Rating and insider-selling headlines added pressure. Zacks Research downgraded Sandisk from Strong Buy to Hold, while executives disclosed sales totaling millions of dollars. The transactions were made under pre-arranged Rule 10b5-1 plans, limiting their significance, but they may still reinforce profit-taking concerns. Sandisk insider trading article

Insiders Place Their Bets

In other news, insider Bernard Shek sold 2,308 shares of the business’s stock in a transaction that occurred on Tuesday, September 8th. The shares were sold at an average price of $1,767.33, for a total value of $4,078,997.64. Following the completion of the transaction, the insider owned 25,305 shares of the company’s stock, valued at $44,722,285.65. The trade was a 8.36% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Alper Ilkbahar sold 4,712 shares of Sandisk stock in a transaction that occurred on Thursday, September 3rd. The stock was sold at an average price of $1,540.58, for a total transaction of $7,259,212.96. Following the completion of the sale, the executive vice president directly owned 44,134 shares of the company’s stock, valued at $67,991,957.72. The trade was a 9.65% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders have sold 9,220 shares of company stock worth $14,829,223. Corporate insiders own 0.21% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently commented on the company. 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 report on Tuesday, May 26th. Weiss Ratings upgraded shares of Sandisk from a “hold (c)” rating to a “buy (b-)” rating in a research note on Thursday, August 27th. JPMorgan Chase & Co. started coverage on shares of Sandisk in a report on Friday, August 14th. They set an “overweight” rating and a $2,250.00 price objective on the stock. Royal Bank Of Canada increased their target price on shares of Sandisk from $1,300.00 to $1,600.00 and gave the company a “sector perform” rating in a report on Friday, August 14th. Finally, UBS Group restated an “overweight” rating and issued a $1,750.00 price target on shares of Sandisk in a report on Friday, August 14th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Sandisk currently has a consensus rating of “Moderate Buy” and an average target price of $1,998.14.

Sandisk Price Performance

SNDK stock opened at $1,692.59 on Friday. The company’s 50 day simple moving average is $1,520.00 and its 200-day simple moving average is $1,321.26. The firm has a market capitalization of $247.83 billion, a PE ratio of 23.22, a P/E/G ratio of 0.18 and a beta of 5.17. Sandisk Corporation has a 12 month low of $81.38 and a 12 month high of $2,354.39.

Sandisk (NASDAQ:SNDK) last issued its quarterly earnings data on Wednesday, August 5th. The data storage provider reported $39.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $33.28 by $5.97. Sandisk had a return on equity of 87.84% and a net margin of 56.47%.The firm had revenue of $8.96 billion during the quarter. During the same quarter in the prior year, the firm earned $0.29 earnings per share. The company’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. As a group, sell-side analysts anticipate that Sandisk Corporation will post 208.92 earnings per share for the current year.

Sandisk declared that its board has authorized a stock 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 purchase up to 6.6% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s management believes its stock is undervalued.

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.