Wedbush Securities Inc. Sells 3,986 Shares of Sandisk Corporation $SNDK

Wedbush Securities Inc. lessened its holdings in Sandisk Corporation (NASDAQ:SNDK) by 37.2% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 6,738 shares of the data storage provider’s stock after selling 3,986 shares during the quarter. Wedbush Securities Inc.’s holdings in Sandisk were worth $15,320,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in SNDK. Dunhill Financial LLC acquired a new stake in Sandisk during the second quarter valued at approximately $30,000. Mowery & Schoenfeld Wealth Management LLC acquired a new position in Sandisk in the second quarter valued at about $32,000. Kilter Group LLC bought a new stake in Sandisk during the second quarter worth about $32,000. KERR FINANCIAL PLANNING Corp acquired a new stake in shares of Sandisk during the second quarter worth approximately $34,000. Finally, Ramsey Quantitative Systems acquired a new stake in shares of Sandisk during the second quarter worth approximately $50,000.

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

Analyst Ratings Changes

Several brokerages have recently commented on SNDK. Bank of America boosted their target price on Sandisk from $2,100.00 to $2,500.00 and gave the stock a “buy” rating in a report on Wednesday, July 1st. JPMorgan Chase & Co. initiated coverage on Sandisk in a research report on Friday, August 14th. They issued an “overweight” rating and a $2,250.00 price objective for the company. Citigroup reduced their price objective on Sandisk from $2,500.00 to $2,100.00 and set a “buy” rating on the stock in a research note on Thursday, August 6th. Mizuho lowered their target price on Sandisk from $1,900.00 to $1,875.00 and set an “outperform” rating for the company in a research note on Tuesday, August 25th. Finally, Wells Fargo & Company lifted their price target on Sandisk from $1,400.00 to $1,550.00 and gave the company an “equal weight” rating in a report on Thursday, August 13th. Three research analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $1,998.14.

Sandisk Stock Up 0.0%

SNDK stock opened at $1,484.98 on Friday. Sandisk Corporation has a twelve month low of $50.07 and a twelve month high of $2,354.39. The company has a market cap of $217.43 billion, a P/E ratio of 20.37, a PEG ratio of 0.15 and a beta of 5.20. The business has a fifty day moving average of $1,595.87 and a 200-day moving average of $1,250.36.

Sandisk (NASDAQ:SNDK) last posted its quarterly earnings results on Wednesday, August 5th. The data storage provider reported $39.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $33.28 by $5.97. The business 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%.Sandisk’s revenue was up 371.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.29 EPS. 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 announced that its board has approved a share repurchase plan on Wednesday, August 5th that authorizes the company to repurchase $14.00 billion in shares. This repurchase authorization authorizes the data storage provider to buy up to 6.6% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s management believes its stock is undervalued.

Insider Activity at Sandisk

In related news, insider Bernard Shek sold 600 shares of the business’s stock in a transaction that occurred on Monday, August 3rd. The shares were sold at an average price of $1,162.16, for a total transaction of $697,296.00. Following the completion of the sale, the insider directly owned 30,915 shares of the company’s stock, valued at $35,928,176.40. The trade was a 1.90% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Alper Ilkbahar sold 2,000 shares of the business’s stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $1,756.58, for a total transaction of $3,513,160.00. Following the sale, the executive vice president directly owned 52,677 shares of the company’s stock, valued at approximately $92,531,364.66. This trade represents a 3.66% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 3,800 shares of company stock valued at $6,504,856. 0.21% of the stock is 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.