Sandisk Corporation $SNDK Shares Bought by Legacy Wealth Asset Management LLC

Legacy Wealth Asset Management LLC lifted its holdings in shares of Sandisk Corporation (NASDAQ:SNDK) by 73.7% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,341 shares of the data storage provider’s stock after acquiring an additional 569 shares during the period. Legacy Wealth Asset Management LLC’s holdings in Sandisk were worth $2,333,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. BlackRock Inc. acquired a new position in shares of Sandisk during the second quarter worth about $23,408,732,000. Evergreen Quality Fund GP Ltd. purchased a new position in shares of Sandisk during the 4th quarter worth approximately $255,848,000. Arrowstreet Capital Limited Partnership lifted its holdings in shares of Sandisk by 31.3% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 3,478,002 shares of the data storage provider’s stock valued at $825,608,000 after buying an additional 828,332 shares during the period. Situational Awareness LP lifted its holdings in shares of Sandisk by 42.4% in the 2nd quarter. Situational Awareness LP now owns 2,495,344 shares of the data storage provider’s stock valued at $5,673,739,000 after buying an additional 743,325 shares during the period. Finally, Bank of New York Mellon Corp purchased a new stake in shares of Sandisk in the second quarter valued at approximately $1,621,353,000.

Sandisk Price Performance

Shares of Sandisk stock opened at $1,609.46 on Friday. Sandisk Corporation has a 1 year low of $116.17 and a 1 year high of $2,354.39. The business has a 50 day moving average price of $1,585.66 and a 200 day moving average price of $1,469.83. The company has a market capitalization of $232.62 billion, a P/E ratio of 22.08, a P/E/G ratio of 0.17 and a beta of 5.23.

Sandisk (NASDAQ:SNDK) last announced its earnings results on Wednesday, August 5th. The data storage provider reported $39.25 EPS for the quarter, beating 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 firm had revenue of $8.96 billion for the quarter. During the same quarter last year, the company posted $0.29 EPS. Sandisk’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, research analysts expect that Sandisk Corporation will post 208.94 EPS for the current fiscal year.

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

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on SNDK. Bank of America increased their price target on shares of Sandisk from $2,100.00 to $2,500.00 and gave the company a “buy” rating in a report on Wednesday, July 1st. Raymond James Financial upped their target price on shares of Sandisk from $1,470.00 to $2,000.00 and gave the stock an “outperform” rating in a research report on Thursday, August 6th. Wedbush reiterated an “outperform” rating and set a $2,000.00 price target on shares of Sandisk in a research report on Friday, August 14th. Argus upgraded shares of Sandisk from a “hold” rating to a “buy” rating and set a $1,600.00 price target for the company in a research report on Monday, August 10th. Finally, Wells Fargo & Company boosted their price target on Sandisk from $1,400.00 to $1,550.00 and gave the stock an “equal weight” rating in a research note on Thursday, August 13th. Two research analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $2,120.65.

More Sandisk News

Here are the key news stories impacting Sandisk this week:

• Positive Sentiment: SanDisk was among memory stocks rebounding in premarket trading, suggesting some investors viewed the selloff as excessive and were buying the dip. Micron, SanDisk, and SK Hynix Stocks Are Rebounding in Pre-Market
• Positive Sentiment: Mizuho raised its SanDisk price target by $175, citing demand for storage tied to agentic AI. The bullish thesis is supported by data-center growth, longer-term contracts, strong profitability and disciplined industry supply. Mizuho raises SanDisk price target by $175 on agentic AI demand
• Positive Sentiment: Analysts continue to argue that AI-related storage demand may be structurally stronger and more durable than traditional memory cycles. Tight supply and customer commitments have helped support pricing and investor confidence. Memory Trade: Cyclical or Durable Growth?
• Neutral Sentiment: SanDisk’s enormous recent rally has led Wall Street to raise price targets, but its upcoming earnings report will be important. Investors will focus on pricing, contract coverage, data-center demand and whether elevated margins can persist. Why Wall Street expects even more from SanDisk after its 480% rally
• Negative Sentiment: The immediate pressure came from a broad memory-stock selloff after Samsung’s preliminary revenue disappointed investors. The report revived concerns about memory demand, pricing and the durability of the AI trade. Micron, SK Hynix, And SanDisk Slide in Sync
• Negative Sentiment: Higher Treasury yields, elevated oil prices and broader profit-taking added to pressure on semiconductor shares. Investors also worry that SanDisk’s earnings may be near a cyclical peak and that new capacity could eventually create oversupply. Why AMD, Micron, SanDisk, and Nvidia Stocks Are Falling

Insider Buying and Selling

In related news, CFO Luis Visoso sold 1,000 shares of Sandisk stock in a transaction dated Tuesday, September 15th. The stock was sold at an average price of $1,568.83, for a total transaction of $1,568,830.00. Following the completion of the sale, the chief financial officer owned 130,976 shares in the company, valued at approximately $205,479,078.08. This trade represents a 0.76% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Bernard Shek sold 600 shares of the business’s stock in a transaction dated Thursday, October 1st. The shares were sold at an average price of $1,734.94, for a total transaction of $1,040,964.00. Following the completion of the transaction, the insider directly owned 25,588 shares of the company’s stock, valued at $44,393,644.72. The trade was a 2.29% decrease in their position. 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 90 days, insiders have sold 77,899 shares of company stock worth $121,159,122. 0.21% of the stock is owned by company insiders.

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.