Evolve Private Wealth LLC Takes Position in Sandisk Corporation $SNDK

Evolve Private Wealth LLC purchased a new position in Sandisk Corporation (NASDAQ:SNDK) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 1,037 shares of the data storage provider’s stock, valued at approximately $2,359,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. BlackRock Inc. bought a new position in Sandisk during the 2nd quarter valued at approximately $23,408,732,000. State Street Corp boosted its holdings in Sandisk by 20.7% in the fourth quarter. State Street Corp now owns 5,281,522 shares of the data storage provider’s stock worth $1,253,728,000 after acquiring an additional 904,933 shares in the last quarter. Geode Capital Management LLC boosted its holdings in Sandisk by 44.9% in the fourth quarter. Geode Capital Management LLC now owns 3,655,860 shares of the data storage provider’s stock worth $866,310,000 after acquiring an additional 1,133,276 shares in the last quarter. Arrowstreet Capital Limited Partnership grew its stake in shares of Sandisk by 31.3% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 3,478,002 shares of the data storage provider’s stock worth $825,608,000 after acquiring an additional 828,332 shares during the last quarter. Finally, Morgan Stanley grew its stake in shares of Sandisk by 7.2% in the fourth quarter. Morgan Stanley now owns 2,970,361 shares of the data storage provider’s stock worth $705,105,000 after acquiring an additional 199,545 shares during the last quarter.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. Wells Fargo & Company lifted their price target on Sandisk from $1,400.00 to $1,550.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 13th. Melius Research set a $2,350.00 price objective on shares of Sandisk in a research report on Monday, May 18th. Morgan Stanley raised their price objective on shares of Sandisk from $1,100.00 to $1,750.00 and gave the company an “overweight” rating in a research note on Wednesday, June 3rd. Citigroup decreased their target price on shares of Sandisk from $2,500.00 to $2,100.00 and set a “buy” rating for the company in a report on Thursday, August 6th. Finally, Mizuho set a $1,900.00 price target on shares of Sandisk in a report on Friday, August 14th. Three investment analysts have rated the stock with a Strong Buy rating, twenty have given a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $1,999.27.

Sandisk Stock Performance

Shares of NASDAQ:SNDK opened at $1,596.08 on Friday. The firm has a market cap of $233.70 billion, a price-to-earnings ratio of 21.89, a price-to-earnings-growth ratio of 0.16 and a beta of 5.20. The business has a 50-day simple moving average of $1,655.56 and a two-hundred day simple moving average of $1,220.12. Sandisk Corporation has a fifty-two week low of $45.63 and a fifty-two week high of $2,354.39.

Sandisk (NASDAQ:SNDK) last announced its quarterly earnings results on Wednesday, August 5th. The data storage provider reported $39.25 earnings per share (EPS) 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 for the quarter. During the same period in the previous year, the business earned $0.29 EPS. The business’s revenue was up 371.6% compared to the same quarter last year. 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 year.

Sandisk declared that its board has authorized a share repurchase plan on Wednesday, August 5th that permits the company to repurchase $14.00 billion in outstanding shares. This repurchase authorization permits the data storage provider to reacquire up to 6.6% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s board believes its shares are undervalued.

Trending Headlines about Sandisk

Here are the key news stories impacting Sandisk this week:

• Positive Sentiment: Sandisk introduced new SATA and NVMe solid-state drives for high-performance network-attached storage (NAS), targeting prosumers, small businesses and private-cloud users. The expansion could diversify demand beyond hyperscale customers and strengthen its competitive position against Micron and Seagate. Can Sandisk’s NAS Expansion Help It Challenge MU & STX?
• Positive Sentiment: Some analysts and market commentators remain bullish on Sandisk’s long-term earnings potential, arguing that accelerating artificial-intelligence data creation should increase demand for storage. One published view cited a potential $3,000 price target, although such targets are highly dependent on continued memory-market strength. SanDisk Stock Trades at $1,600 with Analysts Eyeing $3,000 Target
• Neutral Sentiment: Technical analysts expect substantial volatility in AI-memory stocks in the coming weeks but remain constructive over the longer term. This supports the bullish thesis while warning investors that sharp swings and options-related risks may continue. Danielle Shay on MU, SNDK & STX Technical Analysis, Options Strategies
• Neutral Sentiment: Sandisk’s latest quarterly results were exceptionally strong, with revenue up 371.6% year over year and earnings exceeding consensus estimates. However, the stock’s very large rally has raised expectations, making future results and guidance increasingly important to valuation.
• Negative Sentiment: Bearish commentary argues that Sandisk’s valuation may be pricing in an unusually favorable memory cycle and could underestimate the industry’s historical cyclicality. Any slowdown in pricing, demand or margins could therefore trigger a significant correction. Sandisk: Bulls Are Misjudging Its Valuation And Cyclicality
• Negative Sentiment: Investors are also concerned that increased Chinese competition or supply pressure could undermine Sandisk’s pricing power and disrupt its parabolic rally. The new NAS products were not enough to offset those broader concerns during Friday’s session. SanDisk Stock Has Gone Parabolic. How China Could End the Party

Insider Buying and Selling

In related news, EVP Alper Ilkbahar sold 2,000 shares of the firm’s stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $1,756.58, for a total value of $3,513,160.00. Following the sale, the executive vice president owned 52,677 shares in the company, valued at approximately $92,531,364.66. This trade represents a 3.66% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Bernard Shek sold 600 shares of Sandisk stock in a transaction that occurred on Monday, August 3rd. The stock was sold at an average price of $1,162.16, for a total transaction of $697,296.00. Following the completion of the sale, the insider directly owned 30,915 shares of the company’s stock, valued at approximately $35,928,176.40. This trade represents a 1.90% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 3,800 shares of company stock worth $6,504,856. 0.21% of the stock is owned by insiders.

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.