Equitable Holdings Inc. Purchases New Holdings in Sandisk Corporation $SNDK

Equitable Holdings Inc. purchased a new position in shares of Sandisk Corporation (NASDAQ:SNDK) during the second quarter, Holdings Channel reports. The firm purchased 538 shares of the data storage provider’s stock, valued at approximately $1,223,000.

A number of other hedge funds have also recently added to or reduced their stakes in SNDK. Osaic Holdings Inc. bought a new stake in shares of Sandisk during the 2nd quarter valued at $317,000. Merit Financial Group LLC bought a new position in shares of Sandisk in the third quarter worth $408,000. Dimensional Fund Advisors LP bought a new position in shares of Sandisk in the third quarter worth $100,080,000. First Trust Advisors LP acquired a new position in Sandisk in the third quarter valued at about $9,788,000. Finally, Blair William & Co. IL acquired a new position in Sandisk in the third quarter valued at about $591,000.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on SNDK shares. Royal Bank Of Canada increased their price objective on shares of Sandisk from $1,300.00 to $1,600.00 and gave the stock a “sector perform” rating in a research note on Friday, August 14th. Melius Research set a $2,350.00 target price on shares of Sandisk in a research report on Monday, May 18th. Barclays raised shares of Sandisk from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $1,200.00 to $2,300.00 in a report on Tuesday, May 26th. Morgan Stanley increased their price target on shares of Sandisk from $1,100.00 to $1,750.00 and gave the stock an “overweight” rating in a research report on Wednesday, June 3rd. Finally, Weiss Ratings cut shares of Sandisk from a “hold (c+)” rating to a “hold (c)” rating in a research note on Friday, August 14th. Three investment analysts have rated the stock with a Strong Buy rating, twenty have issued a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $1,998.14.

Insider Activity at Sandisk

In related news, insider Bernard Shek sold 600 shares of the 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 value of $697,296.00. Following the completion of the transaction, the insider owned 30,915 shares of the company’s stock, valued at $35,928,176.40. This represents a 1.90% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, 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 completion of the sale, the executive vice president owned 52,677 shares in the company, valued at $92,531,364.66. This represents a 3.66% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 3,800 shares of company stock valued at $6,504,856. 0.21% of the stock is owned by insiders.

Sandisk Trading Up 0.0%

Shares of NASDAQ SNDK opened at $1,484.98 on Friday. The company has a market cap of $217.43 billion, a price-to-earnings ratio of 20.37, a PEG ratio of 0.15 and a beta of 5.20. Sandisk Corporation has a 12 month low of $50.07 and a 12 month high of $2,354.39. The stock has a 50-day moving average price of $1,595.87 and a two-hundred day moving average price of $1,250.36.

Sandisk (NASDAQ:SNDK) last posted its quarterly earnings results on Wednesday, August 5th. The data storage provider reported $39.25 earnings per share for the quarter, beating analysts’ consensus estimates of $33.28 by $5.97. The company had revenue of $8.96 billion for the quarter. Sandisk had a net margin of 56.47% and a return on equity of 87.84%. The company’s revenue for the quarter was up 371.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.29 earnings per share. Sandisk has set its Q1 2027 guidance at 44.000-46.000 EPS. On average, sell-side analysts predict that Sandisk Corporation will post 208.92 earnings per share for the current year.

Sandisk announced that its Board of Directors has authorized a share repurchase program 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 stock through open market purchases. Stock buyback programs are often a sign that the company’s leadership believes its stock is undervalued.

Sandisk News Summary

Here are the key news stories impacting Sandisk this week:

• Positive Sentiment: Major Japan investment supports long-term growth: Sandisk and Kioxia plan to invest more than $31 billion in Japan through 2032, subject to government support, to expand flash-memory production. The spending is intended to address tight supply caused by accelerating AI and data-center demand, while strengthening Sandisk’s long-standing joint venture with Kioxia. Kioxia and Sandisk to Invest Over $31 Billion in Japan
• Positive Sentiment: AI demand remains a powerful industry tailwind: Nvidia’s strong quarterly results and outlook reinforced expectations for sustained spending on AI infrastructure, potentially lifting demand for Sandisk’s NAND flash and enterprise solid-state drives. Analysts also point to pricing strength, constrained supply and multiyear agreements as drivers of near-term growth. Memory and Storage Giants to Gain Amid Nvidia’s Results
• Positive Sentiment: Recent operating performance provides support: Sandisk’s latest quarterly results exceeded expectations, with earnings per share of $39.25 versus the $33.28 consensus and revenue up 371.6% year over year. Its guidance for fiscal 2027 also reflects continued confidence in demand.
• Neutral Sentiment: Long-term opportunity is substantial but execution-dependent: Comparisons with Nvidia’s earlier AI-driven growth phase highlight Sandisk’s data-center potential, but the stock has already gained dramatically, increasing sensitivity to earnings expectations and future supply-demand conditions. Has Sandisk Already Had Its Nvidia Moment?
• Negative Sentiment: Profit-taking is weighing on memory stocks: Investors have been locking in gains after the sector’s sharp rally, causing Sandisk and peers to move lower even after Nvidia’s favorable report. Why Is Sandisk Stock Up on Friday?
• Negative Sentiment: Valuation and policy risks remain concerns: Analysts have flagged the elevated valuation following Sandisk’s extraordinary run, while possible U.S. trade or export-policy changes could create uncertainty for semiconductor suppliers. Mizuho has also lowered its expectations for the stock. Why Memory Stocks Are Sliding

About Sandisk

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.