Income Insurance Ltd acquired a new position in shares of Sandisk Corporation (NASDAQ:SNDK – Free Report) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 480 shares of the data storage provider’s stock, valued at approximately $835,000.
Several other institutional investors have also made changes to their positions in the business. Strengthening Families & Communities LLC increased its stake in Sandisk by 109.1% in the third quarter. Strengthening Families & Communities LLC now owns 23 shares of the data storage provider’s stock valued at $40,000 after acquiring an additional 12 shares during the period. Sowell Financial Services LLC boosted its holdings in Sandisk by 351.0% during the third quarter. Sowell Financial Services LLC now owns 920 shares of the data storage provider’s stock valued at $1,601,000 after purchasing an additional 716 shares in the last quarter. Rodgers & Associates LTD acquired a new stake in Sandisk during the third quarter valued at approximately $289,000. Capstone Capital Management Ltd bought a new stake in shares of Sandisk in the 3rd quarter valued at approximately $1,776,000. Finally, Range Financial Group LLC grew its stake in shares of Sandisk by 2.6% in the 3rd quarter. Range Financial Group LLC now owns 3,427 shares of the data storage provider’s stock valued at $5,962,000 after purchasing an additional 87 shares during the period.
Insiders Place Their Bets
In related news, EVP Alper Ilkbahar sold 4,712 shares of the firm’s stock in a transaction on Thursday, September 3rd. The stock was sold at an average price of $1,540.58, for a total transaction of $7,259,212.96. Following the completion of the sale, the executive vice president directly owned 44,134 shares of the company’s stock, valued at $67,991,957.72. This trade represents a 9.65% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Bernard Shek sold 600 shares of the firm’s stock in a transaction on Thursday, October 1st. The shares were sold at an average price of $1,734.94, for a total value of $1,040,964.00. Following the sale, the insider directly owned 25,588 shares of the company’s stock, valued at $44,393,644.72. This represents a 2.29% 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. Insiders have sold 77,899 shares of company stock valued at $121,159,122 in the last 90 days. Insiders own 0.29% of the company’s stock.
Wall Street Analyst Weigh In
A number of equities analysts have recently issued reports on SNDK shares. Royal Bank Of Canada increased their target price on Sandisk from $1,300.00 to $1,600.00 and gave the stock a “sector perform” rating in a report on Friday, August 14th. New Street Research set a $3,000.00 price target on Sandisk in a research note on Thursday, August 6th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $2,900.00 price target (up from $1,800.00) on shares of Sandisk in a research report on Monday, August 10th. Argus upgraded Sandisk from a “hold” rating to a “buy” rating and set a $1,600.00 price target on the stock in a research report on Monday, August 10th. Finally, Mizuho increased their price objective on Sandisk from $1,875.00 to $2,050.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 6th. Three analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $2,120.65.
Read Our Latest Analysis on Sandisk
Sandisk Trading Up 0.9%
Shares of Sandisk stock opened at $1,378.22 on Thursday. The stock has a market capitalization of $199.19 billion, a price-to-earnings ratio of 18.91, a P/E/G ratio of 0.14 and a beta of 5.23. Sandisk Corporation has a 1-year low of $144.82 and a 1-year high of $2,354.39. The firm’s 50-day moving average price is $1,608.84 and its two-hundred day moving average price is $1,518.14.
Sandisk (NASDAQ:SNDK – Get Free Report) last posted 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 company 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%. The business’s quarterly revenue was up 371.6% on a year-over-year basis. During the same period in the previous year, the business posted $0.29 EPS. Sandisk has set its Q1 2027 guidance at 44.000-46.000 EPS. As a group, equities research analysts predict that Sandisk Corporation will post 208.94 EPS for the current year.
Sandisk announced that its Board of Directors has authorized 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 reacquire up to 6.6% of its shares through open market purchases. Stock repurchase plans are generally an indication that the company’s leadership believes its shares are undervalued.
More Sandisk News
Here are the key news stories impacting Sandisk this week:
- Positive Sentiment: AI infrastructure demand supported a sector rebound. Comments from SpaceX’s earnings call about the company rapidly expanding AI computing capacity helped revive optimism around semiconductor and memory demand, lifting SanDisk alongside Nvidia and Intel. Elon Musk May Have Ended the October AI Crash as NVIDIA, Intel, and SanDisk Rally after One SpaceX Quote
- Positive Sentiment: Mizuho recommended buying the weakness. The brokerage’s favorable view provided support despite intraday fluctuations, suggesting analysts see the recent pullback as an opportunity rather than evidence that SanDisk’s growth outlook has materially deteriorated. SanDisk Stock Fluctuates: What’s Going On?
- Positive Sentiment: SanDisk benefited from a broader memory-chip rally. Micron, SanDisk and SK Hynix all moved higher in premarket trading, indicating that investor demand for AI-related memory exposure remains an important near-term catalyst. Why Micron, SanDisk, and SK Hynix Are Rising in Premarket Today
- Neutral Sentiment: Investors are positioning ahead of SanDisk’s October 29 quarterly update. Preview coverage and bullish investor commentary are keeping attention on whether results and guidance can validate the company’s substantial earnings growth and AI-driven demand expectations. Sandisk Q1 Preview: Here’s What Is Coming On October 29
- Negative Sentiment: Concerns about an AI-spending slowdown remain the main risk. A selloff in Seoul and warnings that reduced data-center capacity could sharply affect SanDisk and Western Digital renewed fears that current profits may be unusually dependent on continued AI infrastructure investment. Cramer Warns SanDisk and Western Digital Are Worst Stocks if Data Center Capacity Shrinks
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.
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