Summit Global Investments Takes Position in Sandisk Corporation $SNDK

Summit Global Investments purchased a new stake in Sandisk Corporation (NASDAQ:SNDK) during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 321 shares of the data storage provider’s stock, valued at approximately $730,000.

Other hedge funds have also modified their holdings of the company. Valley Wealth Managers Inc. purchased a new stake in Sandisk in the 1st quarter valued at about $25,000. Whittier Trust Co. acquired a new position in Sandisk in the fourth quarter valued at about $26,000. Greenline Wealth Management LLC purchased a new position in Sandisk during the fourth quarter worth about $26,000. Chung Wu Investment Group LLC acquired a new stake in shares of Sandisk during the fourth quarter valued at about $27,000. Finally, IMG Wealth Management Inc. acquired a new stake in shares of Sandisk during the first quarter valued at about $29,000.

Sandisk News Roundup

Here are the key news stories impacting Sandisk this week:

• Positive Sentiment: Sandisk outlined an ambitious long-term financial model, including approximately 80% gross margins, 75% operating margins, 50% free-cash-flow margins and mid-to-high-teens revenue growth through the end of the decade. Management also highlighted long-term customer agreements intended to reduce exposure to the traditional memory boom-and-bust cycle. SanDisk Surges 55% From its July Low: Wall Street Just Got a New Roadmap
• Positive Sentiment: J.P. Morgan began coverage with an Overweight rating and a $2,250 price target, while Wedbush reaffirmed Outperform with a $2,000 target. Evercore ISI also maintained its Buy rating and $2,800 target. The recommendations reinforce expectations for additional earnings growth and potential shareholder returns. Sandisk Stock Tops the S&P 500 as Analysts Rally Behind Its AI Expansion
• Positive Sentiment: Analysts are raising earnings estimates following strong quarterly results and the Investor Day presentation. The company’s latest quarter significantly exceeded consensus expectations, while AI data-center demand and new flash-storage products are viewed as key growth catalysts.
• Positive Sentiment: Broader market conditions also helped: softer inflation data reduced expectations for a September Federal Reserve rate hike, supporting technology and semiconductor stocks. A strong sector-wide memory rally amplified buying in SNDK.

Sandisk Stock Performance

Shares of SNDK opened at $1,641.11 on Friday. The company’s 50-day simple moving average is $1,667.87 and its 200-day simple moving average is $1,181.08. Sandisk Corporation has a 1 year low of $42.82 and a 1 year high of $2,354.39. The stock has a market capitalization of $243.03 billion, a PE ratio of 22.51, a P/E/G ratio of 0.16 and a beta of 5.20.

Sandisk (NASDAQ:SNDK) last announced its quarterly earnings data 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. Sandisk had a net margin of 56.47% and a return on equity of 87.84%. The firm had revenue of $8.96 billion during the quarter. During the same quarter last year, the firm posted $0.29 EPS. The company’s revenue for the quarter was up 371.6% on a year-over-year basis. 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 stock buyback 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 buy up to 6.6% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board of directors believes its shares are undervalued.

Insider Activity at Sandisk

In other news, EVP Alper Ilkbahar sold 2,000 shares of the company’s stock in a transaction on Monday, June 1st. The stock was sold at an average price of $1,756.58, for a total transaction of $3,513,160.00. Following the sale, the executive vice president owned 52,677 shares of the company’s stock, valued at approximately $92,531,364.66. This represents a 3.66% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Bernard Shek sold 600 shares of the company’s stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $1,162.16, for a total value of $697,296.00. Following the sale, the insider directly owned 30,915 shares in the company, valued at $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. Insiders sold a total of 3,800 shares of company stock valued at $6,504,856 in the last three months. 0.21% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

SNDK has been the topic of several recent analyst reports. Zacks Research upgraded shares of Sandisk from a “hold” rating to a “strong-buy” rating in a report on Thursday, July 30th. Wells Fargo & Company lifted their target price on shares of Sandisk from $1,400.00 to $1,550.00 and gave the company an “equal weight” rating in a report on Thursday. Argus raised Sandisk from a “hold” rating to a “buy” rating in a research report on Monday, August 10th. Raymond James Financial restated an “outperform” rating and set a $1,470.00 price target on shares of Sandisk in a research note on Friday, May 1st. Finally, Weiss Ratings lowered Sandisk from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Tuesday, July 21st. Three research analysts have rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $1,999.27.

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.