NorthRock Partners LLC Invests $773,000 in Sandisk Corporation $SNDK

NorthRock Partners LLC purchased a new stake in shares of Sandisk Corporation (NASDAQ:SNDK) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 340 shares of the data storage provider’s stock, valued at approximately $773,000.

Several other large investors have also recently modified their holdings of SNDK. California State Teachers Retirement System boosted its stake in Sandisk by 235,032.6% in the 2nd quarter. California State Teachers Retirement System now owns 380,392,755 shares of the data storage provider’s stock worth $864,910,419,000 after purchasing an additional 380,230,977 shares in the last quarter. BlackRock Inc. bought a new stake in Sandisk during the 2nd quarter valued at about $23,408,732,000. State Street Corp raised its holdings in Sandisk by 20.7% in the fourth quarter. State Street Corp now owns 5,281,522 shares of the data storage provider’s stock worth $1,253,728,000 after buying an additional 904,933 shares during the last quarter. Geode Capital Management LLC raised its holdings in 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 worth $866,310,000 after buying an additional 1,133,276 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership lifted its stake in shares of Sandisk by 31.3% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 3,478,002 shares of the data storage provider’s stock worth $825,608,000 after buying an additional 828,332 shares in the last quarter.

Insiders Place Their Bets

In other news, EVP Alper Ilkbahar sold 4,712 shares of the firm’s stock in a transaction on Thursday, September 3rd. The stock was sold at an average price of $1,540.58, for a total value of $7,259,212.96. Following the transaction, the executive vice president directly owned 44,134 shares in the company, valued at $67,991,957.72. This trade represents a 9.65% decrease in their position. 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, insider Bernard Shek sold 2,308 shares of Sandisk stock in a transaction on Tuesday, September 8th. The stock was sold at an average price of $1,767.33, for a total value of $4,078,997.64. Following the completion of the sale, the insider directly owned 25,305 shares of the company’s stock, valued at $44,722,285.65. The trade was a 8.36% 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 90 days, insiders sold 9,220 shares of company stock worth $14,829,223. Company insiders own 0.21% of the company’s stock.

Wall Street Analysts Forecast Growth

SNDK has been the topic of a number of recent analyst reports. Sanford C. Bernstein reiterated an “outperform” rating on shares of Sandisk in a report on Thursday, August 6th. Citigroup lowered their price objective on Sandisk from $2,500.00 to $2,100.00 and set a “buy” rating on the stock in a research report on Thursday, August 6th. Royal Bank Of Canada increased their target price on Sandisk from $1,300.00 to $1,600.00 and gave the company a “sector perform” rating in a research note on Friday, August 14th. Melius Research set a $2,350.00 target price on Sandisk in a report on Monday, May 18th. Finally, Evercore reissued an “outperform” rating on shares of Sandisk in a report on Thursday, August 13th. Two research analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $1,998.14.

Sandisk Stock Down 4.1%

SNDK opened at $1,692.59 on Friday. The stock has a market capitalization of $247.83 billion, a price-to-earnings ratio of 23.22, a PEG ratio of 0.18 and a beta of 5.17. The firm has a 50 day moving average price of $1,520.00 and a 200-day moving average price of $1,321.26. Sandisk Corporation has a twelve month low of $81.38 and a twelve month high of $2,354.39.

Sandisk (NASDAQ:SNDK) last posted its earnings results 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. The business had revenue of $8.96 billion during the quarter. Sandisk had a net margin of 56.47% and a return on equity of 87.84%. The company’s revenue for the quarter was up 371.6% on a year-over-year basis. During the same period last year, the firm posted $0.29 EPS. Sandisk has set its Q1 2027 guidance at 44.000-46.000 EPS. As a group, analysts expect that Sandisk Corporation will post 208.92 earnings per share for the current year.

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

Key Headlines Impacting Sandisk

Here are the key news stories impacting Sandisk this week:

• Positive Sentiment: AI-driven NAND demand remains a long-term support. Analysts continue to point to strong data-center and artificial-intelligence infrastructure demand, tight memory supply and potentially higher NAND prices as reasons for optimism about Sandisk’s earnings and margins. Memory prices and Sandisk article
• Positive Sentiment: Citi maintained its Buy rating and $2,100 price target. The analyst cited strengthening AI-related NAND demand, leaving the target above the company’s current trading level. Citi Sandisk rating article
• Neutral Sentiment: Investors remain divided after an extraordinary rally. Sandisk has gained more than 600% year to date, creating substantial momentum but also raising questions about valuation, sustainability of margins and the risk of additional profit-taking. A Goldman Sachs view that the memory downturn may be easing provides sector support, although it has not prevented near-term volatility. Memory stocks outlook article
• Negative Sentiment: Macro conditions triggered a broad technology selloff. Higher oil prices intensified concerns that inflation could keep interest rates elevated, weighing particularly heavily on high-beta growth stocks such as SNDK and its memory-chip peers. Memory stocks falling article
• Negative Sentiment: Rating and insider-selling headlines added pressure. Zacks Research downgraded Sandisk from Strong Buy to Hold, while executives disclosed sales totaling millions of dollars. The transactions were made under pre-arranged Rule 10b5-1 plans, limiting their significance, but they may still reinforce profit-taking concerns. Sandisk insider trading article

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.