NewEdge Wealth LLC Takes Position in Sandisk Corporation $SNDK

NewEdge Wealth LLC purchased a new stake in Sandisk Corporation (NASDAQ:SNDK) during the second quarter, according to its most recent filing with the SEC. The firm purchased 13,157 shares of the data storage provider’s stock, valued at approximately $29,916,000.

Several other hedge funds and other institutional investors have also bought and sold shares of SNDK. Dogwood Wealth Management LLC increased its stake in Sandisk by 14.3% in the second quarter. Dogwood Wealth Management LLC now owns 48 shares of the data storage provider’s stock valued at $109,000 after purchasing an additional 6 shares in the last quarter. Castle Rock Wealth Management LLC raised its holdings in Sandisk by 2.4% in the second quarter. Castle Rock Wealth Management LLC now owns 426 shares of the data storage provider’s stock worth $969,000 after purchasing an additional 10 shares during the period. Legacy Wealth Asset Management LLC boosted its position in shares of Sandisk by 1.6% during the second quarter. Legacy Wealth Asset Management LLC now owns 772 shares of the data storage provider’s stock worth $1,755,000 after purchasing an additional 12 shares in the last quarter. GHP Investment Advisors Inc. boosted its position in shares of Sandisk by 12.0% during the first quarter. GHP Investment Advisors Inc. now owns 121 shares of the data storage provider’s stock worth $77,000 after purchasing an additional 13 shares in the last quarter. Finally, Versant Capital Management Inc grew its holdings in shares of Sandisk by 2.5% in the 2nd quarter. Versant Capital Management Inc now owns 527 shares of the data storage provider’s stock valued at $1,198,000 after buying an additional 13 shares during the period.

More Sandisk News

Here are the key news stories impacting Sandisk this week:

• Positive Sentiment: Memory stocks rebounded in early trading after SK Hynix approved a roughly $29 billion share buyback and treasury-share cancellation. The broader sector strength provided support for Sandisk and reinforced investor confidence in favorable memory-market conditions. SK Hynix Rises 6% on $29B Buyback, SanDisk Gains 5%, Micron Climbs 3% as Memory Names Rebound
• Positive Sentiment: Analysts and investors continue to highlight Sandisk’s AI-driven flash-storage demand and its shift toward contract-based sales. The strategy could make NAND revenue and margins more predictable, with management targeting gross margins near 80% and substantial free-cash-flow generation over the long term. From Commodity to Cash Machine? Sandisk Targets 80% Margins in AI Storage Boom
• Neutral Sentiment: Sandisk’s international revenue performance and strong recent earnings remain important factors in Wall Street forecasts, but the stock’s exceptional one-year gain has created disagreement among hedge funds over whether the long-term growth outlook justifies the valuation. Sandisk Corporation International Revenue Performance Explored
• Neutral Sentiment: Technical analysts see major resistance levels ahead, leaving the shares vulnerable to further consolidation unless they regain key support levels. Sandisk Price Forecast: Can SNDK Defend Its Recovery?
• Negative Sentiment: Investors are questioning earnings quality after reports indicated that approximately two-thirds of Sandisk’s record revenue growth came from pricing rather than volume. That raises concerns about how durable results will be if NAND prices moderate ahead of the company’s technology-day presentations. SanDisk Drops Before OCP Korea Tech Day
• Negative Sentiment: David Tepper’s Appaloosa disclosed that it sold all 281,250 Sandisk shares held at the end of the prior quarter, during the period when the stock reached its record high. The sale adds to profit-taking concerns after the parabolic advance. David Tepper Sold His Entire Sandisk Stake
• Negative Sentiment: Higher Treasury yields and a broader rotation away from crowded AI and semiconductor trades have pressured memory stocks, including Sandisk, Micron and Western Digital. The sector’s high beta makes SNDK particularly sensitive to changes in risk appetite. Higher Rates Test the Memory Boom

Insider Activity at Sandisk

In other news, EVP Alper Ilkbahar sold 2,000 shares of Sandisk 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 directly owned 52,677 shares in the company, valued at $92,531,364.66. This trade represents a 3.66% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at 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 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 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 a total of 3,800 shares of company stock valued at $6,504,856 over the last ninety days. Company insiders own 0.21% of the company’s stock.

Sandisk Price Performance

SNDK stock opened at $1,568.87 on Thursday. The stock has a market capitalization of $229.71 billion, a P/E ratio of 21.52, a P/E/G ratio of 0.16 and a beta of 5.20. Sandisk Corporation has a fifty-two week low of $43.20 and a fifty-two week high of $2,354.39. The business has a 50-day moving average of $1,668.86 and a 200-day moving average of $1,210.26.

Sandisk (NASDAQ:SNDK) last announced its 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. The business had revenue of $8.96 billion for the quarter. Sandisk had a return on equity of 87.84% and a net margin of 56.47%.The firm’s quarterly revenue was up 371.6% compared to the same quarter last year. During the same period in the prior year, the business posted $0.29 EPS. Sandisk has set its Q1 2027 guidance at 44.000-46.000 EPS. Equities analysts expect that Sandisk Corporation will post 208.92 EPS for the current year.

Sandisk declared that its board has approved a share buyback program on Wednesday, August 5th that allows the company to buyback $14.00 billion in shares. This buyback authorization allows the data storage provider to repurchase 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 stock is undervalued.

Wall Street Analyst Weigh In

A number of analysts recently commented on the stock. Royal Bank Of Canada upped 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. Melius Research set a $2,350.00 target price on Sandisk in a report on Monday, May 18th. Citigroup decreased their target price on Sandisk from $2,500.00 to $2,100.00 and set a “buy” rating for the company in a research note on Thursday, August 6th. The Goldman Sachs Group restated a “buy” rating and issued a $2,200.00 price target on shares of Sandisk in a report on Thursday, August 13th. Finally, New Street Research set a $3,000.00 price target on Sandisk in a research report on Thursday, August 6th. Three investment analysts have rated the stock with a Strong Buy rating, twenty have given a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $1,999.27.

Sandisk 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.