Maridea Wealth Management LLC Makes New $1.66 Million Investment in Sandisk Corporation $SNDK

Maridea Wealth Management LLC acquired a new stake in Sandisk Corporation (NASDAQ:SNDK) during the second quarter, HoldingsChannel reports. The firm acquired 729 shares of the data storage provider’s stock, valued at approximately $1,658,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. BIP Wealth LLC purchased a new position in shares of Sandisk during the second quarter worth about $241,000. Summit Global Investments acquired a new position in Sandisk in the 2nd quarter valued at about $730,000. Bryn Mawr Trust Advisors LLC acquired a new stake in Sandisk during the 2nd quarter worth approximately $1,685,000. Plan Group Financial LLC purchased a new position in shares of Sandisk in the 2nd quarter valued at approximately $682,000. Finally, Towercrest Capital Management purchased a new position in shares of Sandisk in the 2nd quarter valued at approximately $443,000.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on SNDK. Royal Bank Of Canada boosted their target price on Sandisk from $1,300.00 to $1,600.00 and gave the company a “sector perform” rating in a report on Friday. Raymond James Financial reiterated an “outperform” rating and issued a $1,470.00 price objective on shares of Sandisk in a research report on Friday, May 1st. Susquehanna dropped their price objective on shares of Sandisk from $3,250.00 to $3,050.00 and set a “positive” rating on the stock in a research note on Thursday, July 23rd. Cantor Fitzgerald reissued an “overweight” rating and issued a $2,900.00 price objective on shares of Sandisk in a research note on Monday, August 10th. Finally, Wells Fargo & Company upped their price objective on shares of Sandisk from $1,400.00 to $1,550.00 and gave the stock an “equal weight” rating in a research report on Thursday. Three equities research analysts have rated the stock with a Strong Buy rating, twenty have issued a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, Sandisk presently has a consensus rating of “Buy” and an average price target of $1,999.27.

Insider Buying and Selling at Sandisk

In other Sandisk news, EVP Alper Ilkbahar sold 2,000 shares of the business’s stock in a transaction on Monday, June 1st. The shares were 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 directly owned 52,677 shares in the company, valued at approximately $92,531,364.66. The trade was a 3.66% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Bernard Shek sold 600 shares of the business’s stock in a transaction 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 sale, the insider owned 30,915 shares in the company, valued at $35,928,176.40. The trade was a 1.90% 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 sold 3,800 shares of company stock valued at $6,504,856 in the last quarter. 0.21% of the stock is currently owned by company insiders.

Trending Headlines about Sandisk

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 Trading Up 7.4%

Shares of SNDK stock opened at $1,641.11 on Friday. The company has a market cap of $243.03 billion, a price-to-earnings ratio of 22.51, a price-to-earnings-growth ratio of 0.16 and a beta of 5.20. The stock has a 50 day simple moving average of $1,667.87 and a 200-day simple moving average of $1,181.08. Sandisk Corporation has a 12-month low of $42.82 and a 12-month high of $2,354.39.

Sandisk (NASDAQ:SNDK) last posted its quarterly earnings results on Wednesday, August 5th. The data storage provider reported $39.25 EPS for the quarter, beating the consensus estimate of $33.28 by $5.97. Sandisk had a return on equity of 87.84% and a net margin of 56.47%.The business had revenue of $8.96 billion during the quarter. During the same period in the prior year, the business earned $0.29 earnings per share. The firm’s quarterly 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. On average, equities analysts forecast that Sandisk Corporation will post 208.92 earnings per share for the current fiscal year.

Sandisk announced that its board has approved 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 shares through open market purchases. Shares buyback programs are typically an indication that the company’s management believes its shares are undervalued.

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.