Rakuten Investment Management Inc. Purchases New Stake in Sandisk Corporation $SNDK

Rakuten Investment Management Inc. acquired a new position in shares of Sandisk Corporation (NASDAQ:SNDK) in the 2nd quarter, Holdings Channel.com reports. The firm acquired 27,159 shares of the data storage provider’s stock, valued at approximately $55,687,000.

Several other hedge funds have also recently bought and sold shares of the company. BlackRock Inc. acquired a new stake in shares of Sandisk during the 2nd quarter worth approximately $23,408,732,000. State Street Corp bought a new position in Sandisk in the third quarter valued at approximately $491,053,000. Arrowstreet Capital Limited Partnership acquired a new position in Sandisk during the third quarter valued at approximately $297,293,000. Norges Bank acquired a new position in Sandisk during the fourth quarter valued at approximately $518,889,000. Finally, Bank of America Corp DE bought a new stake in Sandisk during the third quarter worth $190,425,000.

Analyst Upgrades and Downgrades

SNDK has been the topic of a number of research analyst reports. Bank of America raised their target price on Sandisk from $2,100.00 to $2,500.00 and gave the company a “buy” rating in a report on Wednesday, July 1st. Barclays raised Sandisk from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $1,200.00 to $2,300.00 in a report on Tuesday, May 26th. Morgan Stanley raised their price objective on Sandisk from $1,100.00 to $1,750.00 and gave the company an “overweight” rating in a research note on Wednesday, June 3rd. The Goldman Sachs Group reiterated a “buy” rating and issued a $2,200.00 target price on shares of Sandisk in a research report on Thursday, August 13th. Finally, Raymond James Financial reissued an “outperform” rating and set a $1,470.00 target price on shares of Sandisk in a research note on Friday, May 1st. Three 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’s stock. Based on data from MarketBeat.com, Sandisk presently has an average rating of “Buy” and an average price target of $1,998.14.

Trending Headlines about Sandisk

Here are the key news stories impacting Sandisk this week:

• Positive Sentiment: Major Japan investment supports long-term growth: Sandisk and Kioxia plan to invest more than $31 billion in Japan through 2032, subject to government support, to expand flash-memory production. The spending is intended to address tight supply caused by accelerating AI and data-center demand, while strengthening Sandisk’s long-standing joint venture with Kioxia. Kioxia and Sandisk to Invest Over $31 Billion in Japan
• Positive Sentiment: AI demand remains a powerful industry tailwind: Nvidia’s strong quarterly results and outlook reinforced expectations for sustained spending on AI infrastructure, potentially lifting demand for Sandisk’s NAND flash and enterprise solid-state drives. Analysts also point to pricing strength, constrained supply and multiyear agreements as drivers of near-term growth. Memory and Storage Giants to Gain Amid Nvidia’s Results
• Positive Sentiment: Recent operating performance provides support: Sandisk’s latest quarterly results exceeded expectations, with earnings per share of $39.25 versus the $33.28 consensus and revenue up 371.6% year over year. Its guidance for fiscal 2027 also reflects continued confidence in demand.
• Neutral Sentiment: Long-term opportunity is substantial but execution-dependent: Comparisons with Nvidia’s earlier AI-driven growth phase highlight Sandisk’s data-center potential, but the stock has already gained dramatically, increasing sensitivity to earnings expectations and future supply-demand conditions. Has Sandisk Already Had Its Nvidia Moment?
• Negative Sentiment: Profit-taking is weighing on memory stocks: Investors have been locking in gains after the sector’s sharp rally, causing Sandisk and peers to move lower even after Nvidia’s favorable report. Why Is Sandisk Stock Up on Friday?
• Negative Sentiment: Valuation and policy risks remain concerns: Analysts have flagged the elevated valuation following Sandisk’s extraordinary run, while possible U.S. trade or export-policy changes could create uncertainty for semiconductor suppliers. Mizuho has also lowered its expectations for the stock. Why Memory Stocks Are Sliding

Sandisk Stock Performance

Shares of NASDAQ:SNDK opened at $1,484.98 on Friday. Sandisk Corporation has a 52-week low of $50.07 and a 52-week high of $2,354.39. The company 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. The company has a fifty day moving average of $1,595.87 and a 200-day moving average of $1,250.36.

Sandisk (NASDAQ:SNDK) last released its quarterly earnings data on Wednesday, August 5th. The data storage provider reported $39.25 earnings per share for the quarter, beating the consensus estimate of $33.28 by $5.97. The company 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 company’s revenue was up 371.6% compared to the same quarter last year. During the same period last year, the business earned $0.29 EPS. 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 EPS for the current fiscal year.

Sandisk declared that its board has initiated a stock buyback plan on Wednesday, August 5th that allows the company to buyback $14.00 billion in shares. This buyback authorization allows the data storage provider to reacquire up to 6.6% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s board believes its shares are undervalued.

Insider Activity

In other news, insider Bernard Shek sold 600 shares of Sandisk stock in a transaction dated 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 directly owned 30,915 shares of the company’s stock, valued at approximately $35,928,176.40. This trade represents a 1.90% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Alper Ilkbahar sold 2,000 shares of Sandisk 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 sale, the executive vice president directly owned 52,677 shares in the company, valued at $92,531,364.66. The trade was a 3.66% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 3,800 shares of company stock valued at $6,504,856 over the last quarter. Corporate insiders own 0.21% of the company’s stock.

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.