Empowered Funds LLC Takes Position in Sandisk Corporation $SNDK

Empowered Funds LLC bought a new stake in shares of Sandisk Corporation (NASDAQ:SNDK) in the second quarter, HoldingsChannel reports. The institutional investor bought 22,599 shares of the data storage provider’s stock, valued at approximately $51,384,000.

Several other hedge funds have also made changes to their positions in SNDK. Valley Wealth Managers Inc. purchased a new stake in Sandisk in the first quarter worth about $25,000. Greenline Wealth Management LLC purchased a new position in Sandisk during the 4th quarter valued at about $26,000. Chung Wu Investment Group LLC bought a new stake in shares of Sandisk in the 4th quarter valued at about $27,000. IMG Wealth Management Inc. purchased a new stake in shares of Sandisk in the 1st quarter worth approximately $29,000. Finally, Parallel Advisors LLC purchased a new stake in shares of Sandisk in the 3rd quarter worth approximately $30,000.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the company. Morgan Stanley upped their price objective on Sandisk from $1,100.00 to $1,750.00 and gave the stock an “overweight” rating in a research note on Wednesday, June 3rd. Wedbush reissued an “outperform” rating and issued a $2,000.00 price objective on shares of Sandisk in a research report on Friday, August 14th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $2,900.00 target price on shares of Sandisk in a research report on Monday, August 10th. Royal Bank Of Canada increased their price target on Sandisk from $1,300.00 to $1,600.00 and gave the company a “sector perform” rating in a research note on Friday, August 14th. Finally, The Goldman Sachs Group reissued a “buy” rating and issued a $2,200.00 price target on shares of Sandisk in a report on Thursday, August 13th. Three research analysts have rated the stock with a Strong Buy rating, twenty have issued a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $1,998.14.

Key Stories Impacting Sandisk

Here are the key news stories impacting Sandisk this week:

• Positive Sentiment: Sandisk and Kioxia announced plans to invest more than $31 billion in Japanese memory-manufacturing infrastructure through 2032, contingent on government support. The spending should expand flash-memory capacity, reinforce their long-standing joint venture and strengthen Sandisk’s position in the AI-driven storage market. Kioxia and Sandisk investment announcement
• Positive Sentiment: Analyst commentary remains favorable, citing AI and cloud demand, firm memory pricing, supply constraints and multiyear customer agreements as drivers of stronger near-term growth. Zacks also identified Sandisk among storage-device companies benefiting from momentum in AI, data centers, automotive and IoT. Zacks Sandisk comparison
• Neutral Sentiment: Nvidia’s strong earnings and comments pointing to tight memory availability initially supported Sandisk and other memory stocks. However, the broader AI optimism has not translated into sustained buying as investors reassess company-specific risks and the stock’s elevated valuation.
• Negative Sentiment: A report that the Trump administration may consider additional restrictions affecting memory-chip exports has pressured the sector, raising concerns about Sandisk’s access to Chinese customers and potential disruption to industry trade flows. Memory stocks policy concerns
• Negative Sentiment: Investors are also watching growing NAND competition from China’s YMTC, which is targeting greater global market share by 2027. Increased supply could weaken pricing and margins over time. YMTC NAND competition
• Negative Sentiment: Mizuho lowered its expectations for Sandisk’s stock price, adding to the cautious tone after the shares’ substantial recent appreciation. Mizuho Sandisk price target report

Sandisk Price Performance

Shares of SNDK opened at $1,484.95 on Friday. The company’s fifty day moving average price is $1,609.87 and its 200-day moving average price is $1,248.71. Sandisk Corporation has a 1-year low of $48.56 and a 1-year high of $2,354.39. The firm has a market capitalization of $217.43 billion, a PE ratio of 20.37, a price-to-earnings-growth ratio of 0.15 and a beta of 5.20.

Sandisk (NASDAQ:SNDK) last issued its earnings results on Wednesday, August 5th. The data storage provider reported $39.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $33.28 by $5.97. Sandisk had a return on equity of 87.84% and a net margin of 56.47%.The company had revenue of $8.96 billion during the quarter. During the same quarter last year, the business earned $0.29 EPS. The business’s 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 anticipate that Sandisk Corporation will post 208.92 EPS for the current fiscal year.

Sandisk declared that its board has authorized a share buyback plan on Wednesday, August 5th that authorizes the company to buyback $14.00 billion in shares. This buyback authorization authorizes the data storage provider to buy up to 6.6% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board believes its stock is undervalued.

Insider Activity at Sandisk

In other Sandisk 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 transaction of $3,513,160.00. Following the completion of the transaction, the executive vice president directly owned 52,677 shares of the company’s stock, valued at approximately $92,531,364.66. This trade represents a 3.66% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Bernard Shek sold 600 shares of the company’s stock in a transaction on Monday, August 3rd. The shares were 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 $35,928,176.40. This trade represents a 1.90% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 3,800 shares of company stock worth $6,504,856. 0.21% of the stock is owned by corporate 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.