Commerce Bank Purchases Shares of 12,460 Sandisk Corporation $SNDK

Commerce Bank purchased a new position in Sandisk Corporation (NASDAQ:SNDK) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 12,460 shares of the data storage provider’s stock, valued at approximately $28,331,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Dogwood Wealth Management LLC grew its position in shares of Sandisk by 14.3% during the second quarter. Dogwood Wealth Management LLC now owns 48 shares of the data storage provider’s stock valued at $109,000 after purchasing an additional 6 shares in the last quarter. Castle Rock Wealth Management LLC lifted its position in shares of Sandisk by 2.4% in the second quarter. Castle Rock Wealth Management LLC now owns 426 shares of the data storage provider’s stock worth $969,000 after buying an additional 10 shares in the last quarter. Legacy Wealth Asset Management LLC lifted its position in shares of Sandisk by 1.6% in the second quarter. Legacy Wealth Asset Management LLC now owns 772 shares of the data storage provider’s stock worth $1,755,000 after buying an additional 12 shares in the last quarter. GHP Investment Advisors Inc. boosted its stake in Sandisk by 12.0% during the first quarter. GHP Investment Advisors Inc. now owns 121 shares of the data storage provider’s stock valued at $77,000 after buying an additional 13 shares during the last quarter. Finally, Versant Capital Management Inc boosted its stake in Sandisk by 2.5% during the second quarter. Versant Capital Management Inc now owns 527 shares of the data storage provider’s stock valued at $1,198,000 after buying an additional 13 shares during the last quarter.

Sandisk News Roundup

Here are the key news stories impacting Sandisk this week:

• Positive Sentiment: Sandisk introduced new SATA and NVMe solid-state drives for high-performance network-attached storage (NAS), targeting prosumers, small businesses and private-cloud users. The expansion could diversify demand beyond hyperscale customers and strengthen its competitive position against Micron and Seagate. Can Sandisk’s NAS Expansion Help It Challenge MU & STX?
• Positive Sentiment: Some analysts and market commentators remain bullish on Sandisk’s long-term earnings potential, arguing that accelerating artificial-intelligence data creation should increase demand for storage. One published view cited a potential $3,000 price target, although such targets are highly dependent on continued memory-market strength. SanDisk Stock Trades at $1,600 with Analysts Eyeing $3,000 Target
• Neutral Sentiment: Technical analysts expect substantial volatility in AI-memory stocks in the coming weeks but remain constructive over the longer term. This supports the bullish thesis while warning investors that sharp swings and options-related risks may continue. Danielle Shay on MU, SNDK & STX Technical Analysis, Options Strategies
• Neutral Sentiment: Sandisk’s latest quarterly results were exceptionally strong, with revenue up 371.6% year over year and earnings exceeding consensus estimates. However, the stock’s very large rally has raised expectations, making future results and guidance increasingly important to valuation.
• Negative Sentiment: Bearish commentary argues that Sandisk’s valuation may be pricing in an unusually favorable memory cycle and could underestimate the industry’s historical cyclicality. Any slowdown in pricing, demand or margins could therefore trigger a significant correction. Sandisk: Bulls Are Misjudging Its Valuation And Cyclicality
• Negative Sentiment: Investors are also concerned that increased Chinese competition or supply pressure could undermine Sandisk’s pricing power and disrupt its parabolic rally. The new NAS products were not enough to offset those broader concerns during Friday’s session. SanDisk Stock Has Gone Parabolic. How China Could End the Party

Wall Street Analyst Weigh In

Several equities analysts have weighed in on SNDK shares. Argus upgraded Sandisk from a “hold” rating to a “buy” rating in a report on Monday, August 10th. New Street Research set a $3,000.00 price objective on Sandisk in a report on Thursday, August 6th. Weiss Ratings downgraded Sandisk from a “hold (c+)” rating to a “hold (c)” rating in a research report on Friday, August 14th. Sanford C. Bernstein reissued an “outperform” rating on shares of Sandisk in a report on Thursday, August 6th. Finally, UBS Group restated an “overweight” rating and issued a $1,750.00 price target on shares of Sandisk in a research report on Friday, August 14th. Three investment analysts have rated the stock with a Strong Buy rating, twenty have given a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Buy” and an average price target of $1,999.27.

Sandisk Trading Down 0.3%

SNDK opened at $1,596.08 on Friday. The firm has a market cap of $233.70 billion, a P/E ratio of 21.89, a P/E/G ratio of 0.16 and a beta of 5.20. Sandisk Corporation has a 12 month low of $45.63 and a 12 month high of $2,354.39. The stock has a 50-day moving average of $1,655.56 and a 200 day moving average of $1,220.12.

Sandisk (NASDAQ:SNDK) last issued its quarterly earnings data on Wednesday, August 5th. The data storage provider reported $39.25 earnings per share for the quarter, topping the consensus estimate of $33.28 by $5.97. Sandisk had a return on equity of 87.84% and a net margin of 56.47%.The company had revenue of $8.96 billion for the quarter. During the same period in the previous year, the firm earned $0.29 earnings per share. The company’s revenue was up 371.6% compared to the same quarter last year. Sandisk has set its Q1 2027 guidance at 44.000-46.000 EPS. On average, research analysts forecast that Sandisk Corporation will post 208.92 earnings per share for the current fiscal year.

Sandisk announced that its Board of Directors has authorized a stock buyback plan on Wednesday, August 5th that permits the company to repurchase $14.00 billion in outstanding 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 typically an indication that the company’s management believes its stock is undervalued.

Insider Buying and Selling

In other news, insider Bernard Shek sold 600 shares of the business’s stock in a transaction that occurred on 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 transaction, the insider owned 30,915 shares of the company’s stock, valued at approximately $35,928,176.40. The trade was a 1.90% decrease in their position. The transaction 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 the stock in a transaction on 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 owned 52,677 shares in the company, valued at $92,531,364.66. The trade was a 3.66% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 3,800 shares of company stock valued at $6,504,856. Company insiders own 0.21% of the company’s stock.

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.