Perigon Wealth Management LLC Buys New Stake in Sandisk Corporation $SNDK

Perigon Wealth Management LLC purchased a new position in Sandisk Corporation (NASDAQ:SNDK) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 975 shares of the data storage provider’s stock, valued at approximately $2,217,000.

A number of other institutional investors also recently added to or reduced their stakes in SNDK. Valley Wealth Managers Inc. acquired a new position in shares of Sandisk in the 1st quarter worth approximately $25,000. Whittier Trust Co. acquired a new position in Sandisk during the fourth quarter worth $26,000. Greenline Wealth Management LLC acquired a new position in Sandisk during the fourth quarter worth $26,000. Chung Wu Investment Group LLC bought a new position in shares of Sandisk during the fourth quarter valued at $27,000. Finally, IMG Wealth Management Inc. bought a new stake in shares of Sandisk in the 1st quarter worth about $29,000.

Sandisk Trading Up 8.9%

Shares of NASDAQ SNDK opened at $1,786.85 on Tuesday. Sandisk Corporation has a 1 year low of $43.20 and a 1 year high of $2,354.39. The firm’s 50-day moving average is $1,670.76 and its 200-day moving average is $1,195.28. The firm has a market capitalization of $264.61 billion, a PE ratio of 24.51, a price-to-earnings-growth ratio of 0.16 and a beta of 5.21.

Sandisk (NASDAQ:SNDK) last announced 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. 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 quarter in the prior year, the company earned $0.29 earnings per share. The company’s quarterly 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 208.92 earnings per share for the current fiscal year.

Sandisk declared that its Board of Directors has initiated a stock repurchase 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 buy up to 6.6% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s leadership believes its shares are undervalued.

Insiders Place Their Bets

In other Sandisk news, EVP Alper Ilkbahar sold 2,000 shares of the stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $1,756.58, for a total value of $3,513,160.00. Following the transaction, the executive vice president owned 52,677 shares of the company’s stock, valued at approximately $92,531,364.66. This represents a 3.66% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Bernard Shek sold 600 shares of the firm’s stock in a transaction dated Monday, August 3rd. The stock was sold at an average price of $1,162.16, for a total value of $697,296.00. Following the transaction, 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. Over the last ninety days, insiders have sold 3,800 shares of company stock valued at $6,504,856. 0.21% of the stock is owned by insiders.

Trending Headlines about Sandisk

Here are the key news stories impacting Sandisk this week:

• Positive Sentiment: Investor Day highlighted substantial future demand. SanDisk reported a $93.9 billion customer backlog and outlined projections for strong revenue growth through 2030. Management also indicated that long-term contracts provide multiyear volume and pricing visibility, helping support the view that AI-driven storage demand could be more durable than prior memory cycles. SanDisk’s Analyst Day Just Strengthened Micron’s $1,550 Bull Case
• Positive Sentiment: AI memory demand fueled a sector-wide rally. Comments from Elon Musk about the growing memory and storage requirements of agentic AI, along with reports that Washington is encouraging Apple to move away from Chinese DRAM suppliers, boosted SanDisk and other memory-chip companies. The potential shift toward U.S. suppliers strengthened the near-term industry narrative. Elon Musk Just Uttered 3 Massively Bullish Words for Micron, Sandisk, and SK Hynix
• Positive Sentiment: Analysts continued to endorse the outlook. Bernstein described SanDisk’s high-bandwidth flash as potentially a “game changer” for AI, while Wedbush reiterated its Outperform rating and JPMorgan initiated coverage. Investors were also encouraged by management’s plans to significantly increase capital returns to shareholders. Bernstein Analyst Calls SanDisk’s High Bandwidth Flash a Game Changer for AI
• Neutral Sentiment: Hedge-fund positioning was mixed. Appaloosa Management sold its SanDisk position in the second quarter while reallocating toward larger AI companies. The move may signal profit-taking after the stock’s dramatic year-to-date rally, but it does not necessarily challenge SanDisk’s operating fundamentals. David Tepper Cuts Micron Stake, Exits SanDisk
• Negative Sentiment: Valuation and margin durability remain concerns. Critics argue that the current valuation assumes unusually strong pricing and margins will persist, despite much of recent growth being price-driven rather than volume-driven. A normalization in flash-memory pricing, stronger yen, or weaker AI spending could create significant downside. SanDisk: Every Bounce Looks Like a Trap

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. New Street Research set a $3,000.00 price target on shares of Sandisk in a research report on Thursday, August 6th. 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 research note on Wednesday, June 3rd. Evercore restated an “outperform” rating on shares of Sandisk in a research note on Thursday. Zacks Research upgraded shares of Sandisk from a “hold” rating to a “strong-buy” rating in a research report on Thursday, July 30th. Finally, Bank of America raised their price objective on shares of Sandisk from $2,100.00 to $2,500.00 and gave the company a “buy” rating in a research report on Wednesday, July 1st. Three investment analysts have rated the stock with a Strong Buy rating, twenty have given a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, Sandisk has a consensus rating of “Buy” and an average target price of $1,999.27.

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.