Kingsview Wealth Management LLC Purchases New Shares in Sandisk Corporation $SNDK

Kingsview Wealth Management LLC acquired a new stake in Sandisk Corporation (NASDAQ:SNDK) in the second quarter, Holdings Channel reports. The institutional investor acquired 1,691 shares of the data storage provider’s stock, valued at approximately $3,845,000.

Other large investors have also modified their holdings of the company. Handelsbanken Fonder AB grew its position in shares of Sandisk by 35.1% in the 2nd quarter. Handelsbanken Fonder AB now owns 57,564 shares of the data storage provider’s stock valued at $130,885,000 after purchasing an additional 14,964 shares during the period. Allworth Financial LP lifted its stake in Sandisk by 84.2% in the fourth quarter. Allworth Financial LP now owns 4,521 shares of the data storage provider’s stock valued at $1,073,000 after buying an additional 2,067 shares in the last quarter. Tredje AP fonden bought a new position in Sandisk in the fourth quarter valued at approximately $7,821,000. ProShare Advisors LLC boosted its holdings in shares of Sandisk by 1,301.5% in the fourth quarter. ProShare Advisors LLC now owns 33,637 shares of the data storage provider’s stock valued at $7,985,000 after buying an additional 31,237 shares during the period. Finally, FourThought Financial Partners LLC acquired a new position in shares of Sandisk in the fourth quarter valued at approximately $422,000.

Insider Transactions at Sandisk

In other news, EVP Alper Ilkbahar sold 2,000 shares of the firm’s stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $1,756.58, for a total value of $3,513,160.00. Following the completion of the transaction, the executive vice president owned 52,677 shares in the company, valued at $92,531,364.66. This trade represents a 3.66% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Bernard Shek sold 600 shares of Sandisk stock in a transaction dated 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 sale, the insider directly owned 30,915 shares in the company, valued at approximately $35,928,176.40. This represents a 1.90% 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 90 days, insiders have sold 3,800 shares of company stock valued at $6,504,856. Company insiders own 0.21% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on SNDK. Royal Bank Of Canada boosted their price objective on shares of Sandisk from $1,300.00 to $1,600.00 and gave the company a “sector perform” rating in a research report on Friday, August 14th. JPMorgan Chase & Co. assumed coverage on Sandisk in a report on Friday, August 14th. They set an “overweight” rating and a $2,250.00 target price for the company. Sanford C. Bernstein reissued an “outperform” rating on shares of Sandisk in a research note on Thursday, August 6th. Evercore restated an “outperform” rating on shares of Sandisk in a report on Thursday, August 13th. Finally, Citigroup reduced their price objective on Sandisk from $2,500.00 to $2,100.00 and set a “buy” rating for the company in a research report on Thursday, August 6th. Three equities research analysts have rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $1,998.14.

Sandisk Trading Up 0.0%

Shares of SNDK opened at $1,484.98 on Friday. Sandisk Corporation has a 12 month low of $50.07 and a 12 month high of $2,354.39. The firm has a fifty day simple moving average of $1,595.87 and a 200 day simple moving average of $1,250.36. The stock has a market capitalization 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 (NASDAQ:SNDK) last issued its quarterly earnings results on Wednesday, August 5th. The data storage provider reported $39.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $33.28 by $5.97. Sandisk had a net margin of 56.47% and a return on equity of 87.84%. The firm had revenue of $8.96 billion for the quarter. During the same quarter in the previous year, the firm posted $0.29 earnings per share. The firm’s quarterly revenue was up 371.6% on a year-over-year basis. Sandisk has set its Q1 2027 guidance at 44.000-46.000 EPS. As a group, research analysts predict that Sandisk Corporation will post 208.92 earnings per share for the current fiscal year.

Sandisk announced that its Board of Directors has initiated a share repurchase program on Wednesday, August 5th that authorizes the company to buyback $14.00 billion in outstanding shares. This buyback authorization authorizes the data storage provider to reacquire up to 6.6% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s leadership believes its stock is undervalued.

Sandisk News Roundup

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.