L2 Asset Management LLC Buys Shares of 796 Sandisk Corporation $SNDK

L2 Asset Management LLC bought a new stake in shares of Sandisk Corporation (NASDAQ:SNDK) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 796 shares of the data storage provider’s stock, valued at approximately $1,810,000.

A number of other large investors have also recently made changes to their positions in SNDK. Dogwood Wealth Management LLC grew its position in shares of Sandisk by 14.3% in 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 raised its stake in shares of Sandisk by 2.4% during the 2nd quarter. Castle Rock Wealth Management LLC now owns 426 shares of the data storage provider’s stock valued at $969,000 after purchasing an additional 10 shares during the period. Legacy Wealth Asset Management LLC lifted its holdings in Sandisk by 1.6% during the 2nd quarter. Legacy Wealth Asset Management LLC now owns 772 shares of the data storage provider’s stock worth $1,755,000 after purchasing an additional 12 shares in the last quarter. GHP Investment Advisors Inc. lifted its holdings in Sandisk by 12.0% during the 1st quarter. GHP Investment Advisors Inc. now owns 121 shares of the data storage provider’s stock worth $77,000 after purchasing an additional 13 shares in the last quarter. Finally, Versant Capital Management Inc boosted its stake in Sandisk by 2.5% in the 2nd quarter. Versant Capital Management Inc now owns 527 shares of the data storage provider’s stock worth $1,198,000 after purchasing an additional 13 shares during the period.

Insider Transactions at Sandisk

In other Sandisk news, insider Bernard Shek sold 600 shares of Sandisk stock in a transaction dated 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 completion of the sale, the insider owned 30,915 shares of the company’s stock, valued at $35,928,176.40. The trade was a 1.90% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 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 dated Monday, June 1st. The stock was 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 directly owned 52,677 shares of the company’s stock, valued at approximately $92,531,364.66. This trade represents a 3.66% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 3,800 shares of company stock worth $6,504,856 in the last 90 days. Company insiders own 0.21% of the company’s stock.

Sandisk Price Performance

Shares of NASDAQ:SNDK opened at $1,493.12 on Tuesday. The company’s fifty day moving average price is $1,643.27 and its 200-day moving average price is $1,229.65. The firm has a market capitalization of $218.62 billion, a price-to-earnings ratio of 20.48, a PEG ratio of 0.16 and a beta of 5.21. Sandisk Corporation has a one year low of $46.01 and a one year high of $2,354.39.

Sandisk (NASDAQ:SNDK) last posted its quarterly earnings data on Wednesday, August 5th. The data storage provider reported $39.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $33.28 by $5.97. Sandisk had a net margin of 56.47% and a return on equity of 87.84%. The company had revenue of $8.96 billion during the quarter. During the same period in the prior year, the firm posted $0.29 earnings per share. The business’s revenue was up 371.6% on a year-over-year basis. Sandisk has set its Q1 2027 guidance at 44.000-46.000 EPS. As a group, equities research analysts expect that Sandisk Corporation will post 208.92 EPS for the current year.

Sandisk announced that its Board of Directors has initiated a stock buyback program on Wednesday, August 5th that permits the company to repurchase $14.00 billion in shares. This repurchase authorization permits the data storage provider to buy up to 6.6% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s board of directors believes its shares are undervalued.

Key Stories Impacting Sandisk

Here are the key news stories impacting Sandisk this week:

• Positive Sentiment: AI-driven demand remains a major growth catalyst. Surging data-center revenue, multi-year contracts and improving revenue visibility have helped support Sandisk’s recent rally and could sustain demand for its storage products. SNDK Jumps 25% in a Month: Is there More Room for the Stock to Rise?
• Positive Sentiment: NAND pricing continues to benefit Sandisk. TrendForce expects prices to rise another 10% to 15% this quarter after an estimated 70% to 75% increase in the prior period; Sandisk indicated that higher pricing drove approximately two-thirds of its latest sequential revenue growth. Sandisk Rode an Estimated 70% Jump in NAND Prices
• Positive Sentiment: Sandisk was highlighted as a profitable company with strong net income and earnings growth. Its planned $14 billion share-repurchase authorization could provide additional support after the stock’s substantial 2026 advance. $27 Billion in Buybacks: 3 Stocks Betting Their Strong Runs Aren’t Over

Analyst Ratings Changes

SNDK has been the subject of a number of recent analyst reports. Morgan Stanley lifted their target price on Sandisk from $1,100.00 to $1,750.00 and gave the company an “overweight” rating in a report on Wednesday, June 3rd. The Goldman Sachs Group reissued a “buy” rating and issued a $2,200.00 price target on shares of Sandisk in a report on Thursday, August 13th. Mizuho set a $1,900.00 price objective on shares of Sandisk in a research report on Friday, August 14th. Sanford C. Bernstein reaffirmed an “outperform” rating on shares of Sandisk in a research note on Thursday, August 6th. Finally, New Street Research set a $3,000.00 target price on shares of Sandisk in a report on Thursday, August 6th. Three investment analysts have rated the stock with a Strong Buy rating, twenty have issued a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $1,999.27.

Sandisk 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.