Legal & General Group Plc Invests $1.24 Billion in Sandisk Corporation $SNDK

Legal & General Group Plc acquired a new stake in shares of Sandisk Corporation (NASDAQ:SNDK) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 544,041 shares of the data storage provider’s stock, valued at approximately $1,236,765,000. Legal & General Group Plc owned about 0.37% of Sandisk as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Osaic Holdings Inc. bought a new stake in Sandisk in the 2nd quarter worth approximately $317,000. Merit Financial Group LLC bought a new position in shares of Sandisk during the 3rd quarter valued at $408,000. Dimensional Fund Advisors LP bought a new position in shares of Sandisk during the 3rd quarter valued at $100,080,000. First Trust Advisors LP purchased a new position in shares of Sandisk in the 3rd quarter worth $9,788,000. Finally, Blair William & Co. IL purchased a new position in shares of Sandisk in the 3rd quarter worth $591,000.

Wall Street Analysts Forecast Growth

SNDK has been the subject of a number of research reports. Barclays upgraded Sandisk from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $1,200.00 to $2,300.00 in a research report on Tuesday, May 26th. JPMorgan Chase & Co. started coverage on Sandisk in a research note on Friday, August 14th. They set an “overweight” rating and a $2,250.00 price target for the company. Wells Fargo & Company upped their price target on shares of Sandisk from $1,400.00 to $1,550.00 and gave the company an “equal weight” rating in a research report on Thursday, August 13th. Citigroup lowered their price objective on shares of Sandisk from $2,500.00 to $2,100.00 and set a “buy” rating on the stock in a research note on Thursday, August 6th. Finally, Morgan Stanley raised their price objective on shares of Sandisk from $1,100.00 to $1,750.00 and gave the stock an “overweight” rating in a report on Wednesday, June 3rd. Three investment analysts have rated the stock with a Strong Buy rating, twenty have issued a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $1,999.27.

Insider Buying and Selling

In related 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 completion of the transaction, the insider directly owned 30,915 shares in the company, valued at approximately $35,928,176.40. The trade was a 1.90% decrease in their position. The sale was disclosed in a legal filing with the SEC, 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 the stock in a transaction that occurred on Monday, June 1st. The stock was 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 $92,531,364.66. This represents a 3.66% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 3,800 shares of company stock valued at $6,504,856. 0.21% of the stock is currently owned by corporate insiders.

More Sandisk News

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

Sandisk Stock Performance

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

Sandisk (NASDAQ:SNDK) last released its quarterly earnings results on Wednesday, August 5th. The data storage provider reported $39.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $33.28 by $5.97. The business 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 business’s revenue for the quarter was up 371.6% on a year-over-year basis. During the same period in the prior year, the firm posted $0.29 EPS. Sandisk has set its Q1 2027 guidance at 44.000-46.000 EPS. On average, sell-side analysts forecast that Sandisk Corporation will post 208.92 EPS for the current year.

Sandisk announced that its Board of Directors has approved a stock buyback plan on Wednesday, August 5th that permits the company to buyback $14.00 billion in outstanding shares. This buyback authorization permits the data storage provider to repurchase up to 6.6% of its stock through open market purchases. Stock buyback plans are generally a sign 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.