Formula Growth Ltd. Makes New Investment in Sandisk Corporation $SNDK

Formula Growth Ltd. bought a new position in shares of Sandisk Corporation (NASDAQ:SNDK) during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 480 shares of the data storage provider’s stock, valued at approximately $1,091,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. BlackRock Inc. bought a new stake in Sandisk in the second quarter valued at about $23,408,732,000. State Street Corp increased its holdings in Sandisk by 20.7% during the 4th quarter. State Street Corp now owns 5,281,522 shares of the data storage provider’s stock valued at $1,253,728,000 after purchasing an additional 904,933 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of 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 valued at $866,310,000 after buying an additional 1,133,276 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its position in Sandisk by 31.3% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 3,478,002 shares of the data storage provider’s stock valued at $825,608,000 after acquiring an additional 828,332 shares in the last quarter. Finally, Morgan Stanley increased its holdings 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 valued at $705,105,000 after purchasing an additional 199,545 shares in the last quarter.

Sandisk News Summary

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

Analyst Upgrades and Downgrades

Several analysts have weighed in on the company. Morgan Stanley boosted their price objective on Sandisk from $1,100.00 to $1,750.00 and gave the stock an “overweight” rating in a report on Wednesday, June 3rd. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $2,900.00 target price on shares of Sandisk in a research note on Monday, August 10th. Bank of America lifted their price target on shares of Sandisk from $2,100.00 to $2,500.00 and gave the stock a “buy” rating in a research report on Wednesday, July 1st. Barclays raised Sandisk from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $1,200.00 to $2,300.00 in a research note on Tuesday, May 26th. Finally, Evercore restated an “outperform” rating on shares of Sandisk in a report on Thursday, August 13th. Three analysts have rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $1,998.14.

Insider Buying and Selling

In related news, EVP Alper Ilkbahar sold 2,000 shares of the firm’s stock in a transaction dated 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 completion of the sale, the executive vice president directly owned 52,677 shares in the company, valued at approximately $92,531,364.66. This trade represents a 3.66% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Bernard Shek sold 600 shares of the stock in a transaction on Monday, August 3rd. The shares were sold at an average price of $1,162.16, for a total value of $697,296.00. Following the completion of the sale, the insider owned 30,915 shares in the company, valued at approximately $35,928,176.40. This trade 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. In the last quarter, insiders have sold 3,800 shares of company stock worth $6,504,856. Company insiders own 0.21% of the company’s stock.

Sandisk Stock Performance

Shares of Sandisk stock opened at $1,484.95 on Friday. Sandisk Corporation has a 52-week low of $48.56 and a 52-week high of $2,354.39. The firm has a market cap of $217.43 billion, a PE ratio of 20.37, a P/E/G ratio of 0.15 and a beta of 5.20. The business’s 50 day simple moving average is $1,609.87 and its 200 day simple moving average is $1,248.71.

Sandisk (NASDAQ:SNDK) last announced its quarterly earnings data on Wednesday, August 5th. The data storage provider reported $39.25 EPS for the quarter, topping 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 business had revenue of $8.96 billion for the quarter. During the same period in the prior year, the firm earned $0.29 EPS. The business’s revenue for the quarter 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, equities research analysts predict that Sandisk Corporation will post 208.92 EPS for the current year.

Sandisk announced that its board has initiated a stock buyback plan on Wednesday, August 5th that permits the company to repurchase $14.00 billion in shares. This repurchase authorization permits the data storage provider to purchase up to 6.6% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.

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.