Connor Clark & Lunn Investment Management Ltd. Takes Position in Sandisk Corporation $SNDK

Connor Clark & Lunn Investment Management Ltd. acquired a new stake in Sandisk Corporation (NASDAQ:SNDK) in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund acquired 18,420 shares of the data storage provider’s stock, valued at approximately $41,882,000.

Other large investors have also recently bought and sold shares of the company. Dunhill Financial LLC bought a new stake in shares of Sandisk during the 2nd quarter worth about $30,000. Mowery & Schoenfeld Wealth Management LLC bought a new position in shares of Sandisk in the 2nd quarter valued at approximately $32,000. Kilter Group LLC bought a new position in shares of Sandisk in the 2nd quarter valued at approximately $32,000. KERR FINANCIAL PLANNING Corp acquired a new stake in Sandisk in the 2nd quarter worth approximately $34,000. Finally, Ramsey Quantitative Systems acquired a new stake in Sandisk in the 2nd quarter worth approximately $50,000.

Insider Buying and Selling at Sandisk

In other news, insider Bernard Shek sold 600 shares of the company’s stock in a transaction dated 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 sale, the insider owned 30,915 shares of the company’s stock, valued at approximately $35,928,176.40. This represents a 1.90% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available 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 stock in a transaction dated Monday, June 1st. The stock was 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 owned 52,677 shares of the company’s stock, 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 over the last quarter. Corporate insiders own 0.21% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have commented on the company. Morgan Stanley increased their price target on Sandisk from $1,100.00 to $1,750.00 and gave the company an “overweight” rating in a report on Wednesday, June 3rd. Susquehanna decreased their price objective on shares of Sandisk from $3,250.00 to $3,050.00 and set a “positive” rating for the company in a report on Thursday, July 23rd. Mizuho set a $1,900.00 target price on shares of Sandisk in a research note on Friday, August 14th. Evercore reissued an “outperform” rating on shares of Sandisk in a research report on Thursday, August 13th. Finally, Jefferies Financial Group restated a “buy” rating on shares of Sandisk in a report on Thursday, August 6th. Three research analysts have rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, Sandisk has a consensus rating of “Buy” and a consensus target price of $1,999.27.

Sandisk Price Performance

Shares of Sandisk stock opened at $1,493.12 on Tuesday. The firm has a fifty day moving average price of $1,643.27 and a two-hundred day moving average price of $1,229.65. 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 market cap of $218.62 billion, a PE ratio of 20.48, a price-to-earnings-growth ratio of 0.16 and a beta of 5.21.

Sandisk (NASDAQ:SNDK) last issued 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 business had revenue of $8.96 billion during the quarter. During the same quarter in the previous year, the company posted $0.29 earnings per share. The business’s revenue for the quarter was up 371.6% compared to the same quarter last year. Sandisk has set its Q1 2027 guidance at 44.000-46.000 EPS. Analysts expect that Sandisk Corporation will post 208.92 earnings per share for the current fiscal year.

Sandisk announced that its Board of Directors has approved a stock repurchase 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 buy up to 6.6% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board believes its shares are undervalued.

Key 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

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.