Legal & General Group Plc Takes $1.24 Billion Position in Sandisk Corporation $SNDK

Legal & General Group Plc acquired a new position in Sandisk Corporation (NASDAQ:SNDK) in the second quarter, HoldingsChannel.com reports. The institutional investor acquired 544,041 shares of the data storage provider’s stock, valued at approximately $1,236,765,000.

Several other institutional investors have also recently made changes to their positions in the business. BlackRock Inc. purchased a new position in Sandisk in the 2nd quarter worth approximately $23,408,732,000. State Street Corp bought a new position in Sandisk in the 3rd quarter worth approximately $491,053,000. Arrowstreet Capital Limited Partnership purchased a new stake in Sandisk during the 3rd quarter valued at approximately $297,293,000. Norges Bank purchased a new stake in Sandisk during the 4th quarter valued at approximately $518,889,000. Finally, Bank of America Corp DE bought a new stake in shares of Sandisk during the third quarter valued at approximately $190,425,000.

Analyst Ratings Changes

Several research firms have recently commented on SNDK. Melius Research set a $2,350.00 target price on shares of Sandisk in a report on Monday, May 18th. Zacks Research raised shares of Sandisk from a “hold” rating to a “strong-buy” rating in a research note on Thursday, July 30th. Wedbush reiterated an “outperform” rating and issued a $2,000.00 price target on shares of Sandisk in a report on Friday, August 14th. Mizuho set a $1,900.00 price target on shares of Sandisk in a report on Friday, August 14th. Finally, Citigroup decreased their price target on shares of Sandisk from $2,500.00 to $2,100.00 and set a “buy” rating on the stock in a research note 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. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $1,999.27.

Insiders Place Their Bets

In other Sandisk news, insider Bernard Shek sold 600 shares of the stock in a transaction on Monday, August 3rd. The shares were sold at an average price of $1,162.16, for a total transaction of $697,296.00. Following the completion of the transaction, the insider owned 30,915 shares in the company, valued at $35,928,176.40. This trade represents a 1.90% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Alper Ilkbahar sold 2,000 shares of Sandisk stock in a transaction on 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 completion of the transaction, the executive vice president directly owned 52,677 shares of the company’s stock, valued at $92,531,364.66. The trade was a 3.66% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 3,800 shares of company stock worth $6,504,856. 0.21% of the stock is owned by insiders.

Sandisk Price Performance

NASDAQ:SNDK opened at $1,493.12 on Tuesday. Sandisk Corporation has a 1 year low of $46.01 and a 1 year high of $2,354.39. The stock’s 50 day simple moving average is $1,643.27 and its two-hundred day simple moving average is $1,229.65. The company has a market cap of $218.62 billion, a price-to-earnings ratio of 20.48, a PEG ratio of 0.16 and a beta of 5.21.

Sandisk (NASDAQ:SNDK) last posted 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 during the quarter. During the same quarter in the prior year, the company posted $0.29 earnings per share. The firm’s 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, analysts anticipate that Sandisk Corporation will post 208.92 EPS for the current year.

Sandisk declared that its board has approved a stock buyback program on Wednesday, August 5th that authorizes the company to repurchase $14.00 billion in shares. This repurchase authorization authorizes the data storage provider to buy up to 6.6% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s management believes its stock is undervalued.

Sandisk News Roundup

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.