Elm3 Financial Group LLC raised its holdings in shares of Sandisk Corporation (NASDAQ:SNDK – Free Report) by 302.3% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 688 shares of the data storage provider’s stock after purchasing an additional 517 shares during the period. Elm3 Financial Group LLC’s holdings in Sandisk were worth $1,197,000 as of its most recent SEC filing.
Other large investors have also recently made changes to their positions in the company. Handelsbanken Fonder AB raised its stake in Sandisk by 35.1% during the second quarter. Handelsbanken Fonder AB now owns 57,564 shares of the data storage provider’s stock valued at $130,885,000 after buying an additional 14,964 shares during the last quarter. Focus Partners Advisor Solutions LLC purchased a new stake in shares of Sandisk in the second quarter worth $4,775,000. Florida Financial Advisors LLC bought a new position in shares of Sandisk during the first quarter valued at $2,747,000. UNICOM Systems Inc. increased its holdings in shares of Sandisk by 14.9% during the second quarter. UNICOM Systems Inc. now owns 58,500 shares of the data storage provider’s stock valued at $133,013,000 after acquiring an additional 7,600 shares in the last quarter. Finally, Affinity Capital Advisors LLC purchased a new position in shares of Sandisk in the 2nd quarter worth about $2,506,000.
Sandisk Stock Up 1.9%
Shares of NASDAQ SNDK traded up $31.96 during trading on Wednesday, reaching $1,692.42. 9,107,052 shares of the company traded hands, compared to its average volume of 15,316,795. The firm has a 50 day simple moving average of $1,565.54 and a 200-day simple moving average of $1,457.01. The stock has a market capitalization of $247.80 billion, a PE ratio of 23.22, a P/E/G ratio of 0.17 and a beta of 5.23. Sandisk Corporation has a 52-week low of $116.17 and a 52-week high of $2,354.39.
Sandisk announced that its board has initiated a stock 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 shares through open market purchases. Shares buyback plans are typically a sign that the company’s board believes its stock is undervalued.
Trending Headlines about Sandisk
Here are the key news stories impacting Sandisk this week:
- Positive Sentiment: Memory stocks, including Sandisk, are outperforming a softer technology market as constrained supply and long-term customer commitments support pricing power. SanDisk and Micron Rise as Tight Memory Supply Outruns a Softer Tech Tape
- Positive Sentiment: Mizuho raised its Sandisk price target to $2,050 from $1,875 and maintained an “outperform” rating, citing growing demand from agentic AI and related semiconductor infrastructure. Mizuho Raises AMD and SanDisk Stock Price Targets on Agentic AI Demand
- Positive Sentiment: Sandisk’s reported $93.9 billion NAND bit memory contract book, customer financial guarantees, and sharp growth in data-center revenue highlight strong hyperscaler demand and improving revenue visibility. Sandisk: Customer Money Is Keeping Pace With the Contract Boom
- Positive Sentiment: Zacks added SNDK to its Rank #1 “Strong Buy” and momentum lists, reinforcing favorable near-term sentiment. Best Momentum Stocks to Buy for October 6th
- Neutral Sentiment: Binance is reportedly the leading venue for Sandisk perpetual-futures liquidity, ahead of OKX and Hyperliquid. This may increase trading activity but does not directly change Sandisk’s business fundamentals. Binance Leads SanDisk Perpetuals Liquidity
- Negative Sentiment: Premarket selling earlier in the session reflected profit-taking after the semiconductor sector’s powerful October rally. Analysts also caution that Sandisk’s growth is heavily dependent on memory pricing, while Micron offers broader exposure across memory products and a custom high-bandwidth-memory partnership with Nvidia. Sandisk and Micron AI Memory Stock Comparison
Analyst Ratings Changes
SNDK has been the topic of a number of analyst reports. Citigroup reiterated a “buy” rating on shares of Sandisk in a research note on Thursday, October 1st. UBS Group restated an “overweight” rating and set a $1,750.00 price objective on shares of Sandisk in a research note on Friday, August 14th. Arete Research upped their target price on shares of Sandisk from $2,300.00 to $3,000.00 and gave the stock a “buy” rating in a research note on Thursday, August 27th. Wedbush reiterated an “outperform” rating and set a $2,000.00 price target on shares of Sandisk in a report on Friday, August 14th. Finally, Weiss Ratings raised shares of Sandisk from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday, September 24th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $2,120.65.
Read Our Latest Stock Report on SNDK
Insider Activity at Sandisk
In related news, CFO Luis Visoso sold 1,000 shares of Sandisk stock in a transaction on Tuesday, September 15th. The stock was sold at an average price of $1,568.83, for a total value of $1,568,830.00. Following the completion of the sale, the chief financial officer owned 130,976 shares of the company’s stock, valued at $205,479,078.08. The trade was a 0.76% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 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 on Thursday, September 17th. The shares were sold at an average price of $1,574.21, for a total transaction of $53,272,840.61. Following the sale, the chief executive officer directly owned 382,865 shares of the company’s stock, valued at approximately $602,709,911.65. The trade was a 8.12% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 77,899 shares of company stock valued at $121,159,122 in the last quarter. 0.21% of the stock is currently owned by corporate insiders.
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.
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