Mezzasalma Advisors LLC Purchases 364 Shares of Sandisk Corporation $SNDK

Mezzasalma Advisors LLC lifted its position in Sandisk Corporation (NASDAQ:SNDK) by 21.3% in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 2,074 shares of the data storage provider’s stock after acquiring an additional 364 shares during the quarter. Mezzasalma Advisors LLC’s holdings in Sandisk were worth $3,609,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. BlackRock Inc. purchased a new position in Sandisk during the 2nd quarter worth approximately $23,408,732,000. Situational Awareness LP lifted its holdings in shares of Sandisk by 42.4% in the second quarter. Situational Awareness LP now owns 2,495,344 shares of the data storage provider’s stock valued at $5,673,739,000 after purchasing an additional 743,325 shares in the last quarter. Evergreen Quality Fund GP Ltd. acquired a new stake in shares of Sandisk in the fourth quarter worth $255,848,000. Wellington Management Group LLP boosted its position in shares of Sandisk by 71.2% in the second quarter. Wellington Management Group LLP now owns 1,066,886 shares of the data storage provider’s stock worth $2,425,811,000 after buying an additional 443,714 shares during the period. Finally, SG Americas Securities LLC boosted its position in shares of Sandisk by 108.4% in the first quarter. SG Americas Securities LLC now owns 944,503 shares of the data storage provider’s stock worth $600,081,000 after buying an additional 491,359 shares during the period.

Sandisk Stock Performance

Shares of NASDAQ SNDK traded down $78.99 during mid-day trading on Wednesday, reaching $1,403.34. The company had a trading volume of 7,246,719 shares, compared to its average volume of 15,128,366. Sandisk Corporation has a twelve month low of $130.50 and a twelve month high of $2,354.39. The stock has a market capitalization of $202.82 billion, a PE ratio of 19.25, a price-to-earnings-growth ratio of 0.15 and a beta of 5.23. The stock’s 50 day moving average is $1,599.14 and its 200-day moving average is $1,492.85.

Sandisk (NASDAQ:SNDK) last announced its quarterly earnings data on Wednesday, August 5th. The data storage provider reported $39.25 earnings per share (EPS) 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 return on equity of 87.84% and a net margin of 56.47%. Sandisk’s revenue was up 371.6% on a year-over-year basis. During the same quarter in the prior 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 anticipate that Sandisk Corporation will post 208.94 EPS for the current year.

Sandisk announced that its board has initiated a share buyback plan on Wednesday, August 5th that allows the company to repurchase $14.00 billion in shares. This repurchase authorization allows the data storage provider to repurchase up to 6.6% of its shares through open market purchases. Stock repurchase plans are typically a sign that the company’s management believes its shares are undervalued.

Wall Street Analyst Weigh In

SNDK has been the topic of several recent analyst reports. Mizuho upped their price target on Sandisk from $1,875.00 to $2,050.00 and gave the company an “outperform” rating in a research report on Tuesday, October 6th. BNP Paribas Exane decreased their price objective on Sandisk from $1,900.00 to $1,400.00 in a research report on Thursday, August 6th. China Renaissance lifted their target price on Sandisk from $2,000.00 to $2,250.00 and gave the company a “buy” rating in a research note on Wednesday, August 19th. Wells Fargo & Company upped their target price on Sandisk from $1,400.00 to $1,550.00 and gave the company an “equal weight” rating in a report on Thursday, August 13th. Finally, Rosenblatt Securities began coverage on Sandisk in a report on Tuesday, September 22nd. They issued a “buy” rating and a $2,400.00 target price on the stock. Two investment analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $2,120.65.

Key Stories Impacting Sandisk

Here are the key news stories impacting Sandisk this week:

• Positive Sentiment: SanDisk announced a data-storage partnership with Meta Platforms to support Meta’s VR Glasses, potentially expanding its exposure to growing AI, virtual-reality and data-storage demand. SanDisk Stock Drops Despite Meta Partnership
• Positive Sentiment: Some analysts and market commentators continue to view SNDK as a buy-the-dip opportunity, citing strong AI-driven memory demand, constrained supply and long-term growth prospects. One forecast projects a potential $3,000 price target over two years. AI Memory Chip Selloff Looks Overblown
• Positive Sentiment: S&P Global upgraded SanDisk’s credit rating to BBB from BB+, reflecting stronger cash flows and rising AI-related memory demand. SanDisk Credit Rating Upgrade
• Neutral Sentiment: Market participants are weighing whether the recent memory-stock selloff is temporary or signals the first meaningful crack in the industry’s supercycle. Bullish views point to robust NAND pricing, long-term contracts and SanDisk’s data-center exposure.
• Negative Sentiment: Shares faced sector-wide selling after Chinese memory manufacturer CXMT outlined ambitions to compete in high-end server memory. Investors fear increased supply could pressure pricing, margins and SanDisk’s market share. Why Memory Stocks Are Falling
• Negative Sentiment: Hotter-than-expected U.S. inflation increased concerns about interest rates and pressured high-beta technology stocks. Broader worries about AI funding and semiconductor valuations added to the selling pressure.

Insider Transactions at Sandisk

In other news, CFO Luis Visoso sold 1,000 shares of the firm’s stock in a transaction dated Tuesday, September 15th. The stock was sold at an average price of $1,568.83, for a total transaction of $1,568,830.00. Following the completion of the sale, the chief financial officer directly owned 130,976 shares of the company’s stock, valued at $205,479,078.08. This trade represents a 0.76% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Bernard Shek sold 2,308 shares of Sandisk stock in a transaction dated Tuesday, September 8th. The shares were sold at an average price of $1,767.33, for a total value of $4,078,997.64. Following the sale, the insider owned 25,305 shares of the company’s stock, valued at approximately $44,722,285.65. This represents a 8.36% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 77,899 shares of company stock worth $121,159,122. 0.29% of the stock is owned by company insiders.

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.