Primecap Management Co. CA Purchases Shares of 400 Sandisk Corporation $SNDK

Primecap Management Co. CA acquired a new position in shares of Sandisk Corporation (NASDAQ:SNDK) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 400 shares of the data storage provider’s stock, valued at approximately $909,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. BlackRock Inc. bought a new position in shares of Sandisk in the second quarter valued at about $23,408,732,000. State Street Corp lifted its stake in shares of Sandisk by 20.7% during the 4th quarter. State Street Corp now owns 5,281,522 shares of the data storage provider’s stock worth $1,253,728,000 after buying an additional 904,933 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Sandisk by 44.9% during the 4th quarter. Geode Capital Management LLC now owns 3,655,860 shares of the data storage provider’s stock worth $866,310,000 after buying an additional 1,133,276 shares during the period. Arrowstreet Capital Limited Partnership boosted its holdings in shares of Sandisk by 31.3% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 3,478,002 shares of the data storage provider’s stock worth $825,608,000 after buying an additional 828,332 shares during the period. Finally, Morgan Stanley boosted its holdings in shares of Sandisk by 7.2% during the 4th quarter. Morgan Stanley now owns 2,970,361 shares of the data storage provider’s stock worth $705,105,000 after buying an additional 199,545 shares during the period.

Key Sandisk News

Here are the key news stories impacting Sandisk this week:

• Positive Sentiment: AI and NAND-cycle optimism: Investor sentiment improved after reports that demand for AI infrastructure is boosting high-capacity storage, while tighter NAND supply could support pricing and margins. This has helped Sandisk maintain strong momentum after its sharp one-year advance. SanDisk Stock Climbs As NAND Optimism Lifts Memory Stocks
• Positive Sentiment: Capital-return plans attract attention: Jim Cramer highlighted Sandisk’s substantial share-buyback plans, which may support earnings per share and signal management confidence following the stock’s surge. Jim Cramer Highlights Sandisk’s Massive Buybacks
• Positive Sentiment: Wall Street remains constructive: Mizuho reduced its price target modestly to $1,875 but retained an “outperform” rating, implying considerable upside from the reference price. Other recent commentary also points to Sandisk’s momentum and potential margin expansion. Why Sandisk Is a Strong Momentum Stock
• Neutral Sentiment: Volatile sector trading: Sandisk and other memory stocks rebounded after a broad sell-off, but the group also faced renewed pre-market weakness as investors reassessed valuation and near-term memory pricing. The mixed trading indicates that sentiment remains highly sensitive to sector news. Memory Stocks Rebound After Sell-Off
• Negative Sentiment: Chinese competition is a longer-term risk: Yangtze Memory Technologies is targeting greater NAND market share by 2027, potentially increasing pricing pressure and challenging established suppliers such as Sandisk. YMTC Targets NAND Dominance

Wall Street Analysts Forecast Growth

SNDK has been the topic of several research analyst reports. Morgan Stanley increased their price target on shares of Sandisk from $1,100.00 to $1,750.00 and gave the company an “overweight” rating in a report on Wednesday, June 3rd. Barclays upgraded Sandisk from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $1,200.00 to $2,300.00 in a report on Tuesday, May 26th. Melius Research set a $2,350.00 target price on Sandisk in a research report on Monday, May 18th. New Street Research set a $3,000.00 target price on Sandisk in a research note on Thursday, August 6th. Finally, Sanford C. Bernstein reissued an “outperform” rating on shares of Sandisk in a report on Thursday, August 6th. Three analysts have rated the stock with a Strong Buy rating, twenty have given a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $1,998.14.

Sandisk Stock Performance

SNDK stock opened at $1,499.37 on Thursday. Sandisk Corporation has a 52 week low of $47.40 and a 52 week high of $2,354.39. The company has a market capitalization of $219.54 billion, a PE ratio of 20.57, a price-to-earnings-growth ratio of 0.15 and a beta of 5.20. The company’s 50-day simple moving average is $1,623.86 and its 200 day simple moving average is $1,242.46.

Sandisk (NASDAQ:SNDK) last issued its quarterly earnings data on Wednesday, August 5th. The data storage provider reported $39.25 earnings per share for the quarter, topping the consensus estimate of $33.28 by $5.97. The business had revenue of $8.96 billion during the quarter. Sandisk had a net margin of 56.47% and a return on equity of 87.84%. Sandisk’s revenue for the quarter was up 371.6% compared to the same quarter last year. During the same quarter last year, the firm earned $0.29 EPS. Sandisk has set its Q1 2027 guidance at 44.000-46.000 EPS. On average, analysts forecast that Sandisk Corporation will post 208.92 EPS for the current year.

Sandisk declared that its Board of Directors has authorized a stock buyback plan on Wednesday, August 5th that authorizes the company to repurchase $14.00 billion in shares. This repurchase authorization authorizes the data storage provider to repurchase 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.

Insider Activity at Sandisk

In other news, EVP Alper Ilkbahar sold 2,000 shares of the firm’s stock in a transaction that occurred 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 transaction, the executive vice president directly owned 52,677 shares of the company’s stock, valued at approximately $92,531,364.66. This trade represents a 3.66% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Bernard Shek sold 600 shares of Sandisk stock in a transaction that occurred 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 sale, the insider owned 30,915 shares of the company’s stock, valued at approximately $35,928,176.40. The trade was a 1.90% 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. Insiders have sold 3,800 shares of company stock worth $6,504,856 over the last ninety days. Insiders own 0.21% of the company’s stock.

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.