Legacy Wealth Managment LLC ID Has $3.49 Million Holdings in Sandisk Corporation $SNDK

Legacy Wealth Managment LLC ID trimmed its holdings in shares of Sandisk Corporation (NASDAQ:SNDK) by 37.6% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,533 shares of the data storage provider’s stock after selling 923 shares during the quarter. Sandisk comprises about 1.5% of Legacy Wealth Managment LLC ID’s investment portfolio, making the stock its 15th largest holding. Legacy Wealth Managment LLC ID’s holdings in Sandisk were worth $3,486,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. BlackRock Inc. bought a new stake in Sandisk in the 2nd quarter valued at about $23,408,732,000. State Street Corp bought a new position in shares of Sandisk during the third quarter worth approximately $491,053,000. Arrowstreet Capital Limited Partnership acquired a new stake in shares of Sandisk in the third quarter valued at approximately $297,293,000. Norges Bank acquired a new stake in shares of Sandisk in the fourth quarter valued at approximately $518,889,000. Finally, Bank of America Corp DE bought a new stake in shares of Sandisk in the third quarter valued at approximately $190,425,000.

Key Stories Impacting Sandisk

Here are the key news stories impacting Sandisk this week:

• Positive Sentiment: Upward earnings revisions support the shares. Zacks reiterated a Rank #1 (Strong Buy) for SNDK, citing a strengthening earnings outlook. The view follows Sandisk’s recent earnings beat, 371.6% year-over-year revenue growth and strong fiscal 2027 guidance. Bullish EPS Revisions Back IBKR, SNDK, and ROKU
• Positive Sentiment: AI data-center demand remains a major bullish driver. Analysts continue to identify Sandisk as a way to participate in rising demand for enterprise storage, NAND flash and other memory infrastructure supporting AI workloads. 4 Stocks to Buy Now to Ride the AI Data Center Spending Boom
• Positive Sentiment: Management’s scheduled presentations at the Citi Global TMT Conference and Goldman Sachs Communacopia + Technology Conference could provide fresh commentary on demand, pricing and the company’s outlook. Sandisk Announces Participation in Investor Conferences
• Neutral Sentiment: Recent commentary presents a wide range of expectations, including bullish price targets and comparisons highlighting Sandisk’s rapid revenue expansion. However, the stock’s elevated valuation and high volatility leave it sensitive to changes in the memory cycle and investor sentiment. SanDisk SNDK Stock Prediction
• Negative Sentiment: Growing Chinese competition is the key downside risk. Chinese memory manufacturers are gaining DRAM and NAND market share, raising concerns about future pricing pressure, reduced share and lower margins for Sandisk. Micron, SanDisk Lag Tech Rally as China Grabs Memory Market Share
• Negative Sentiment: Insider Bernard Shek sold approximately $915,360 of SNDK under a pre-arranged Rule 10b5-1 plan. The sale reduced his holdings by about 2%, limiting its significance but adding a modest sentiment headwind. Insider Selling: Sandisk Insider Sells Stock

Insider Activity at Sandisk

In related news, insider Bernard Shek sold 600 shares of the company’s stock in a transaction on Tuesday, September 1st. The stock was sold at an average price of $1,525.60, for a total transaction of $915,360.00. Following the completion of the sale, the insider directly owned 29,884 shares in the company, valued at $45,591,030.40. This represents a 1.97% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 1,800 shares of company stock worth $2,865,456. 0.21% of the stock is currently owned by insiders.

Sandisk Price Performance

Shares of NASDAQ:SNDK opened at $1,554.99 on Friday. Sandisk Corporation has a 1 year low of $55.55 and a 1 year high of $2,354.39. The stock has a market capitalization of $227.68 billion, a price-to-earnings ratio of 21.33, a price-to-earnings-growth ratio of 0.15 and a beta of 5.17. The company’s 50 day simple moving average is $1,550.34 and its 200 day simple moving average is $1,281.92.

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

Sandisk declared that its board has approved a share repurchase program on Wednesday, August 5th that authorizes the company to repurchase $14.00 billion in shares. This repurchase authorization authorizes the data storage provider to reacquire up to 6.6% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s management believes its shares are undervalued.

Analyst Ratings Changes

A number of equities analysts have commented on SNDK shares. Weiss Ratings upgraded Sandisk from a “hold (c)” rating to a “buy (b-)” rating in a research note on Thursday, August 27th. Royal Bank Of Canada upped their target price on Sandisk from $1,300.00 to $1,600.00 and gave the company a “sector perform” rating in a research report on Friday, August 14th. Cantor Fitzgerald reissued an “overweight” rating and set a $2,900.00 target price on shares of Sandisk in a report on Monday, August 10th. JPMorgan Chase & Co. began coverage on Sandisk in a research report on Friday, August 14th. They issued an “overweight” rating and a $2,250.00 price target on the stock. Finally, Bank of America boosted their price target on Sandisk from $2,100.00 to $2,500.00 and gave the company a “buy” rating in a research note on Wednesday, July 1st. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, Sandisk presently has an average rating of “Buy” and an average price target of $1,998.14.

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.