8,271 Sandisk Corporation $SNDK Shares Sold by VMS Asset Management Limited

VMS Asset Management Limited lessened its stake in Sandisk Corporation (NASDAQ:SNDK) by 69.8% in the third quarter, Holdings Channel reports. The firm owned 3,579 shares of the data storage provider’s stock after selling 8,271 shares during the quarter. Sandisk accounts for about 2.4% of VMS Asset Management Limited’s investment portfolio, making the stock its 15th largest position. VMS Asset Management Limited’s holdings in Sandisk were worth $6,227,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. BlackRock Inc. acquired a new stake in Sandisk during the second quarter worth about $23,408,732,000. Evergreen Quality Fund GP Ltd. acquired a new position in shares of Sandisk in the 4th quarter valued at approximately $255,848,000. Situational Awareness LP raised its position in shares of Sandisk by 42.4% in the 2nd quarter. Situational Awareness LP now owns 2,495,344 shares of the data storage provider’s stock valued at $5,673,739,000 after buying an additional 743,325 shares in the last quarter. Bank of New York Mellon Corp acquired a new position in shares of Sandisk in the 2nd quarter valued at approximately $1,621,353,000. Finally, Bank of America Corp DE bought a new stake in shares of Sandisk during the 2nd quarter worth approximately $1,564,901,000.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the stock. BNP Paribas Exane reduced their price target on shares of Sandisk from $1,900.00 to $1,400.00 in a research report on Thursday, August 6th. Bank of America lifted 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 note on Wednesday, July 1st. UBS Group restated an “overweight” rating and set a $1,750.00 price objective on shares of Sandisk in a research report on Friday, August 14th. New Street Research set a $3,000.00 target price on Sandisk in a report on Thursday, August 6th. Finally, Argus raised Sandisk from a “hold” rating to a “buy” rating and set a $1,600.00 price target for the company in a report on Monday, August 10th. Two research analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Sandisk has a consensus rating of “Moderate Buy” and an average target price of $2,120.65.

Insider Buying and Selling at Sandisk

In other news, EVP Alper Ilkbahar sold 4,712 shares of the firm’s stock in a transaction on Thursday, September 3rd. The shares were sold at an average price of $1,540.58, for a total transaction of $7,259,212.96. Following the completion of the transaction, the executive vice president owned 44,134 shares of the company’s stock, valued at approximately $67,991,957.72. This trade represents a 9.65% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO David Goeckeler sold 33,841 shares of the firm’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 transaction, the chief executive officer directly owned 382,865 shares of the company’s stock, valued at $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. In the last quarter, insiders have sold 77,899 shares of company stock valued at $121,159,122. Insiders own 0.29% of the company’s stock.

Key Stories Impacting Sandisk

Here are the key news stories impacting Sandisk this week:

• Positive Sentiment: SanDisk entered a partnership with Meta Platforms to provide data-storage options for Meta’s VR glasses, supporting the company’s exposure to artificial intelligence, augmented reality and other long-term data-demand trends. SanDisk Stock Drops Despite Data Storage Partnership With Meta
• Positive Sentiment: Analyst Nicholas Mugalli reiterated a highly bullish long-term view, projecting a $3,000 price target and arguing that future earnings could make the valuation appear inexpensive. Other analysts also describe SNDK as an attractive buy-the-dip opportunity because of sustained AI-related memory demand. SanDisk Has More Upside
• Positive Sentiment: S&P Global upgraded SanDisk’s credit rating to BBB from BB+, citing stronger cash flows and rising AI-driven memory demand. A bullish investment case also points to robust NAND pricing, long-term contracts and financial guarantees. SanDisk Credit Rating Upgrade
• Neutral Sentiment: Strong third-quarter results from semiconductor-equipment maker ASML and continued expectations for AI infrastructure growth provide support for memory demand, but have not been enough to overcome current sector selling. Why Memory Stocks Are Falling Despite ASML Results
• Negative Sentiment: Chinese memory maker CXMT’s advances and plans to target high-end server memory are raising fears that new competition could pressure SanDisk’s pricing, market share and expected memory-cycle profits. Why Memory Stocks Are Falling
• Negative Sentiment: Hotter-than-expected U.S. inflation has increased macroeconomic and interest-rate uncertainty, while concerns about AI funding and stretched semiconductor valuations are adding to the sector-wide selloff. Market Open News

Sandisk Trading Down 5.3%

NASDAQ:SNDK opened at $1,403.34 on Thursday. The stock’s 50-day moving average is $1,599.14 and its 200-day moving average is $1,492.85. Sandisk Corporation has a 1-year low of $130.50 and a 1-year high of $2,354.39. The stock has a market cap of $202.82 billion, a P/E ratio of 19.25, a price-to-earnings-growth ratio of 0.15 and a beta of 5.23.

Sandisk (NASDAQ:SNDK) last issued its quarterly earnings data on Wednesday, August 5th. The data storage provider reported $39.25 earnings per share (EPS) for the quarter, beating 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 firm’s quarterly revenue was up 371.6% compared to the same quarter last year. During the same quarter last year, the business earned $0.29 EPS. Sandisk has set its Q1 2027 guidance at 44.000-46.000 EPS. As a group, equities analysts forecast that Sandisk Corporation will post 208.94 EPS for the current year.

Sandisk declared that its Board of Directors has approved a stock buyback program on Wednesday, August 5th that authorizes the company to buy back $14.00 billion in shares. This buyback authorization authorizes the data storage provider to repurchase up to 6.6% of its stock through open market purchases. Share buyback programs are often a sign that the company’s board believes its shares are undervalued.

Sandisk Company Profile

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.