2,963 Shares of Sandisk Corporation $SNDK Bought by Generali Asset Management SPA SGR

Generali Asset Management SPA SGR acquired a new stake in Sandisk Corporation (NASDAQ:SNDK) during the third quarter, Holdings Channel.com reports. The firm acquired 2,963 shares of the data storage provider’s stock, valued at approximately $5,155,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. BlackRock Inc. acquired a new stake in Sandisk during the second quarter worth approximately $23,408,732,000. Situational Awareness LP boosted its holdings in shares of Sandisk by 42.4% during the 2nd quarter. Situational Awareness LP now owns 2,495,344 shares of the data storage provider’s stock worth $5,673,739,000 after buying an additional 743,325 shares in the last quarter. Wellington Management Group LLP boosted its holdings in shares of Sandisk by 71.2% during the 2nd quarter. Wellington Management Group LLP now owns 1,066,886 shares of the data storage provider’s stock worth $2,425,811,000 after buying an additional 443,714 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of Sandisk by 57.4% during the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 726,722 shares of the data storage provider’s stock worth $1,652,370,000 after buying an additional 264,935 shares during the period. Finally, Bank of New York Mellon Corp acquired a new stake in shares of Sandisk during the 2nd quarter worth approximately $1,621,353,000.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on SNDK shares. UBS Group reiterated an “overweight” rating and issued a $1,750.00 price objective on shares of Sandisk in a research note on Friday, August 14th. Mizuho boosted their target price on shares of Sandisk from $1,875.00 to $2,050.00 and gave the company an “outperform” rating in a research report on Tuesday, October 6th. BNP Paribas Exane cut their target price on shares of Sandisk from $1,900.00 to $1,400.00 in a research note on Thursday, August 6th. Evercore restated an “outperform” rating and issued a $3,100.00 price target (up from $1,400.00) on shares of Sandisk in a report on Thursday, August 13th. Finally, Weiss Ratings cut shares of Sandisk from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday, October 14th. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and four have given a Hold rating to the company. According to MarketBeat, Sandisk currently has a consensus rating of “Moderate Buy” and a consensus target price of $2,093.73.

Sandisk Price Performance

Shares of NASDAQ SNDK opened at $1,404.77 on Thursday. The stock has a market capitalization of $203.03 billion, a P/E ratio of 19.27, a P/E/G ratio of 0.12 and a beta of 5.23. The company has a 50-day moving average price of $1,571.68 and a 200-day moving average price of $1,242.27. Sandisk Corporation has a 1 year low of $181.51 and a 1 year high of $2,354.39.

Sandisk (NASDAQ:SNDK) last posted its earnings results on Wednesday, August 5th. The data storage provider reported $39.25 EPS for the quarter, topping the consensus estimate of $33.28 by $5.97. Sandisk had a net margin of 56.47% and a return on equity of 87.84%. The company had revenue of $8.96 billion during the quarter. During the same period in the previous year, the firm earned $0.29 earnings per share. The company’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, equities research analysts anticipate that Sandisk Corporation will post 208.94 earnings per share for the current fiscal year.

Sandisk declared that its Board of Directors has initiated a stock buyback plan on Wednesday, August 5th that authorizes the company to buy back $14 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. Share buyback plans are typically a sign that the company’s board of directors believes its stock is undervalued.

Insider Buying and Selling at Sandisk

In other Sandisk news, EVP Alper Ilkbahar sold 4,712 shares of the business’s stock in a transaction that occurred on Thursday, September 3rd. The stock was sold at an average price of $1,540.58, for a total transaction of $7,259,212.96. Following the completion of the sale, the executive vice president directly owned 44,134 shares of the company’s stock, valued at approximately $67,991,957.72. The trade was a 9.65% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO David Goeckeler sold 33,841 shares of the business’s stock in a transaction that occurred on Thursday, September 17th. The stock was sold at an average price of $1,574.21, for a total value of $53,272,840.61. Following the sale, the chief executive officer directly owned 382,865 shares of the company’s stock, valued at $602,709,911.65. This represents a 8.12% 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 a total of 77,899 shares of company stock worth $121,159,122 in the last quarter. 0.29% of the stock is owned by insiders.

Key Stories Impacting Sandisk

Here are the key news stories impacting Sandisk this week:

• Positive Sentiment: Strong memory-market read-through: Competitor SK Hynix reported a 632% year-over-year profit surge and pointed to sustained demand for memory chips through 2030. The results helped lift the broader memory group, including Sandisk. SK Hynix results and Sandisk impact
• Positive Sentiment: AI and data-center demand could support results: Analysts expect fiscal Q1 revenue to benefit from AI-driven data-center storage, expanding enterprise SSD demand, rising edge-storage requirements and favorable NAND pricing. Management previously projected approximately 18% sequential revenue growth at the midpoint. Sandisk data-center and edge-storage outlook
• Positive Sentiment: Expectations for another earnings beat: Sandisk has a strong earnings-surprise record, and Zacks says its earnings estimate revisions and operating outlook currently favor a potential beat. Wedbush also maintained a Buy view ahead of the report. Sandisk earnings estimate outlook
• Neutral Sentiment: Investors are weighing a possible bottom: Although SNDK has fallen substantially over the past month and remains well below its high, the latest rebound has prompted speculation that the selloff may be ending. Confirmation will likely depend on Thursday’s results and forward guidance. Sandisk potential bottom analysis
• Negative Sentiment: Valuation and demand risks remain: Cantor Fitzgerald issued a pessimistic forecast, while analysts caution that consumer storage demand is weakening, Sandisk trades at a premium to some peers and substantial capital-expenditure and free-cash-flow requirements could limit upside. Sandisk supply and valuation risks

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.