Wealthfront Advisers LLC Acquires New Holdings in Sandisk Corporation $SNDK

Wealthfront Advisers LLC acquired a new stake in Sandisk Corporation (NASDAQ:SNDK) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 28,870 shares of the data storage provider’s stock, valued at approximately $65,643,000.

Several other large investors have also bought and sold shares of the company. Dogwood Wealth Management LLC grew its stake in shares of Sandisk by 14.3% in the 2nd quarter. Dogwood Wealth Management LLC now owns 48 shares of the data storage provider’s stock worth $109,000 after purchasing an additional 6 shares during the last quarter. Castle Rock Wealth Management LLC raised its position in shares of Sandisk by 2.4% during the second quarter. Castle Rock Wealth Management LLC now owns 426 shares of the data storage provider’s stock worth $969,000 after purchasing an additional 10 shares during the period. Legacy Wealth Asset Management LLC lifted its holdings in shares of Sandisk by 1.6% during the second quarter. Legacy Wealth Asset Management LLC now owns 772 shares of the data storage provider’s stock valued at $1,755,000 after purchasing an additional 12 shares during the last quarter. GHP Investment Advisors Inc. lifted its holdings in shares of 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 purchasing an additional 13 shares during the last quarter. Finally, Versant Capital Management Inc boosted its position in shares of Sandisk by 2.5% in the 2nd quarter. Versant Capital Management Inc now owns 527 shares of the data storage provider’s stock valued at $1,198,000 after purchasing an additional 13 shares during the period.

Insider Activity at Sandisk

In other news, insider Bernard Shek sold 600 shares of the firm’s stock in a transaction 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 transaction, the insider owned 30,915 shares in the company, valued at approximately $35,928,176.40. This trade represents a 1.90% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Alper Ilkbahar sold 2,000 shares of Sandisk stock in a transaction on Monday, June 1st. The shares were sold at an average price of $1,756.58, for a total transaction of $3,513,160.00. Following the completion of the sale, the executive vice president directly owned 52,677 shares of the company’s stock, valued at approximately $92,531,364.66. The trade was a 3.66% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 3,800 shares of company stock valued at $6,504,856 over the last three months. Insiders own 0.21% of the company’s stock.

Key Headlines Impacting Sandisk

Here are the key news stories impacting Sandisk this week:

• Positive Sentiment: Sandisk’s recent Investor Day highlighted significant long-term growth opportunities in AI storage, including high-bandwidth flash memory, a reported $93.9 billion customer backlog and ambitious profitability targets through fiscal 2028–2030. Management also emphasized returning excess cash to shareholders. Sandisk: Too Cheap To Ignore, Too Cyclical To Trust
• Positive Sentiment: JPMorgan initiated coverage with a Buy-equivalent recommendation and a $2,250 price target, citing Sandisk’s positioning in the AI memory market. This follows strong quarterly results, including earnings that exceeded expectations and revenue growth of roughly 372% year over year. SanDisk Gets New Buy Recommendation
• Positive Sentiment: Analysts and market commentators continue to argue that AI infrastructure demand could keep memory pricing and storage demand elevated, with some viewing Sandisk’s high-bandwidth flash products as a potential beneficiary of the shift toward agentic AI. Elon Musk on Memory and Storage Demand
• Neutral Sentiment: After gaining roughly 28% in the prior five sessions and nearly 550% year to date, SNDK is experiencing heightened volatility and profit-taking. Technical analysts are watching nearby support levels to determine whether the rebound can continue or the broader correction resumes. Sandisk Price Forecast
• Neutral Sentiment: Although the memory shortage may persist into 2027, investors remain divided over whether current margins are sustainable. Sandisk’s outlook depends heavily on continued pricing strength, data-center demand and successful execution of its new business model. Sandisk Stock and the Memory Shortage
• Negative Sentiment: A Wall Street Journal report intensified a broad selloff in memory-chip stocks as investors rotated out of AI hardware winners. Sandisk, Micron and Western Digital all came under pressure, indicating that sector-wide positioning is a major factor behind SNDK’s decline. WSJ Report Sends Memory Stocks Down
• Negative Sentiment: Rising Treasury yields are pressuring richly valued growth and semiconductor shares, making investors less willing to pay high multiples for stocks whose earnings are tied to a cyclical memory boom. Higher Rates Test the Memory Boom
• Negative Sentiment: Concerns that memory remains a boom-and-bust industry are resurfacing after SNDK’s parabolic run. Any normalization in NAND pricing or evidence of weaker demand could challenge expectations embedded in the stock’s elevated valuation. Sandisk: Every Bounce Looks Like a Trap

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on SNDK shares. New Street Research set a $3,000.00 price target on Sandisk in a research note on Thursday, August 6th. Citigroup reduced their price objective on shares of Sandisk from $2,500.00 to $2,100.00 and set a “buy” rating for the company in a research note on Thursday, August 6th. UBS Group reissued an “overweight” rating and issued a $1,750.00 target price on shares of Sandisk in a research report on Friday. Raymond James Financial restated an “outperform” rating and set a $1,470.00 price target on shares of Sandisk in a report on Friday, May 1st. Finally, Argus upgraded shares of Sandisk from a “hold” rating to a “buy” rating in a research report on Monday, August 10th. Three research analysts have rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $1,999.27.

Sandisk Price Performance

Shares of Sandisk stock opened at $1,625.78 on Wednesday. The firm has a market cap of $240.76 billion, a price-to-earnings ratio of 22.30, a P/E/G ratio of 0.16 and a beta of 5.21. Sandisk Corporation has a 52-week low of $43.20 and a 52-week high of $2,354.39. The stock has a 50-day simple moving average of $1,670.35 and a 200-day simple moving average of $1,203.01.

Sandisk (NASDAQ:SNDK) last released its quarterly earnings data 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 firm 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%.The company’s quarterly revenue was up 371.6% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.29 EPS. Sandisk has set its Q1 2027 guidance at 44.000-46.000 EPS. As a group, equities research analysts predict that Sandisk Corporation will post 208.92 earnings per share for the current year.

Sandisk declared that its board has authorized a stock buyback plan on Wednesday, August 5th that authorizes the company to buyback $14.00 billion in outstanding shares. This buyback authorization authorizes the data storage provider to repurchase up to 6.6% of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s board of directors 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.