Waverly Advisors LLC Lowers Position in Sandisk Corporation $SNDK

Waverly Advisors LLC lessened its holdings in shares of Sandisk Corporation (NASDAQ:SNDK) by 22.1% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,464 shares of the data storage provider’s stock after selling 698 shares during the quarter. Waverly Advisors LLC’s holdings in Sandisk were worth $1,565,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Valley Wealth Managers Inc. purchased a new stake in Sandisk in the first quarter valued at approximately $25,000. Whittier Trust Co. bought a new position in shares of Sandisk in the 4th quarter worth $26,000. Greenline Wealth Management LLC purchased a new stake in shares of Sandisk during the 4th quarter valued at $26,000. Chung Wu Investment Group LLC purchased a new stake in shares of Sandisk during the 4th quarter valued at $27,000. Finally, Parallel Advisors LLC bought a new stake in shares of Sandisk during the 3rd quarter worth $30,000.

Insider Buying and Selling

In related news, Director Necip Sayiner sold 579 shares of the company’s stock in a transaction on Friday, May 8th. The shares were sold at an average price of $1,503.11, for a total transaction of $870,300.69. Following the completion of the sale, the director directly owned 2,900 shares in the company, valued at $4,359,019. This represents a 16.64% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Bernard Shek sold 600 shares of the business’s stock in a transaction dated Wednesday, July 1st. The shares were sold at an average price of $2,088.00, for a total transaction of $1,252,800.00. Following the completion of the transaction, the insider owned 31,515 shares in the company, valued at $65,803,320. The trade was a 1.87% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 6,225 shares of company stock valued at $10,166,297. 0.21% of the stock is owned by insiders.

Analyst Ratings Changes

Several research analysts recently issued reports on SNDK shares. Morgan Stanley upped their target price 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. Mizuho lifted their price target on Sandisk from $1,825.00 to $2,200.00 and gave the stock an “outperform” rating in a research note on Monday, June 8th. UBS Group set a $1,700.00 price objective on Sandisk in a report on Monday, May 4th. Wedbush increased their price objective on Sandisk from $1,200.00 to $2,000.00 and gave the company an “outperform” rating in a research report on Thursday, July 9th. Finally, The Goldman Sachs Group reissued a “buy” rating and set a $1,200.00 price objective on shares of Sandisk in a report on Friday, May 1st. Two investment analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $1,811.38.

Sandisk Stock Performance

SNDK stock opened at $1,279.96 on Friday. Sandisk Corporation has a 52 week low of $40.10 and a 52 week high of $2,354.39. The firm’s fifty day moving average is $1,734.42 and its 200 day moving average is $1,115.89. The firm has a market cap of $189.55 billion, a P/E ratio of 44.49 and a beta of 4.74.

Sandisk (NASDAQ:SNDK) last posted its quarterly earnings results on Thursday, April 30th. The data storage provider reported $23.41 earnings per share for the quarter, topping the consensus estimate of $14.17 by $9.24. Sandisk had a net margin of 34.19% and a return on equity of 44.06%. The business had revenue of $5.95 billion during the quarter. During the same period in the prior year, the firm earned ($0.30) earnings per share. The business’s revenue for the quarter was up 251.0% on a year-over-year basis. As a group, analysts forecast that Sandisk Corporation will post 64.52 EPS for the current year.

Key Stories Impacting Sandisk

Here are the key news stories impacting Sandisk this week:

• Positive Sentiment: AI spending optimism returned. Microsoft’s commitment to approximately $190 billion in capital expenditures helped ease concerns that cloud and AI infrastructure investment was slowing. The news lifted expectations for demand for data-center storage and memory products, including SanDisk’s enterprise NAND solutions. Microsoft Committed $190B CapEx and Pulled SanDisk Out of Their Slump
• Positive Sentiment: Memory-sector supply conditions appeared more favorable. Samsung Electronics reported a significant increase in chip profit and signed multiyear supply agreements with data-center operators, while warning that chip shortages could persist through 2028. That supported a broader rebound in memory stocks and reinforced the potential for stronger pricing. Why Micron, SanDisk, SK Hynix and Other Memory Stocks Are Roaring Back
• Positive Sentiment: Investors are positioning ahead of fiscal fourth-quarter earnings on August 5. Analysts cited the possibility of another earnings beat, with consensus estimates calling for roughly $33.38 per share in EPS. SanDisk has reportedly exceeded earnings and revenue expectations for five consecutive quarters, while long-term contracts and approximately $42 billion in commitments support visibility into future demand. SanDisk Stock Is Gaining Thursday: What’s Going On?
• Neutral Sentiment: The rebound follows an extreme decline. SNDK had fallen roughly 57% from its peak and was considered deeply oversold, encouraging technical traders and investors seeking a recovery. However, the stock’s exceptionally high beta indicates that price swings may remain substantial. Is SanDisk Stock Crash Over?
• Negative Sentiment: Risks remain significant. Morningstar reportedly sees the AI boom as potentially finite before a possible downturn, while investors continue to worry about Chinese competition, another NAND oversupply cycle and the stock’s elevated valuation. Earnings guidance and management’s outlook will be critical to determining whether the rebound can continue. SanDisk Falls 54%: Morningstar Sees Finite AI Boom

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.