Primecap Management Co. CA Invests $909,000 in Sandisk Corporation $SNDK

Primecap Management Co. CA acquired a new position in shares of Sandisk Corporation (NASDAQ:SNDK) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 400 shares of the data storage provider’s stock, valued at approximately $909,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of SNDK. Valley Wealth Managers Inc. acquired a new position in Sandisk during the 1st quarter worth approximately $25,000. Greenline Wealth Management LLC acquired a new stake in shares of Sandisk in the fourth quarter valued at approximately $26,000. Chung Wu Investment Group LLC acquired a new stake in shares of Sandisk in the fourth quarter valued at approximately $27,000. IMG Wealth Management Inc. bought a new stake in shares of Sandisk in the first quarter worth $29,000. Finally, Dunhill Financial LLC bought a new stake in shares of Sandisk in the second quarter worth $30,000.

Sandisk Trading Up 1.3%

NASDAQ SNDK opened at $1,499.37 on Thursday. Sandisk Corporation has a 12 month low of $47.40 and a 12 month high of $2,354.39. The stock has a 50 day moving average of $1,623.86 and a 200-day moving average of $1,242.46. The company has a market cap of $219.54 billion, a PE ratio of 20.57, a PEG ratio of 0.15 and a beta of 5.20.

Sandisk (NASDAQ:SNDK) last issued its earnings results on Wednesday, August 5th. The data storage provider reported $39.25 earnings per share 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 business had revenue of $8.96 billion for the quarter. During the same quarter in the previous year, the firm posted $0.29 earnings per share. Sandisk’s quarterly 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, sell-side analysts predict that Sandisk Corporation will post 208.92 EPS for the current fiscal year.

Sandisk announced that its board has initiated a stock repurchase plan on Wednesday, August 5th that allows the company to repurchase $14.00 billion in outstanding shares. This repurchase authorization allows the data storage provider to reacquire up to 6.6% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s leadership believes its shares are undervalued.

Sandisk News Summary

Here are the key news stories impacting Sandisk this week:

• Positive Sentiment: AI and NAND-cycle optimism: Investor sentiment improved after reports that demand for AI infrastructure is boosting high-capacity storage, while tighter NAND supply could support pricing and margins. This has helped Sandisk maintain strong momentum after its sharp one-year advance. SanDisk Stock Climbs As NAND Optimism Lifts Memory Stocks
• Positive Sentiment: Capital-return plans attract attention: Jim Cramer highlighted Sandisk’s substantial share-buyback plans, which may support earnings per share and signal management confidence following the stock’s surge. Jim Cramer Highlights Sandisk’s Massive Buybacks
• Positive Sentiment: Wall Street remains constructive: Mizuho reduced its price target modestly to $1,875 but retained an “outperform” rating, implying considerable upside from the reference price. Other recent commentary also points to Sandisk’s momentum and potential margin expansion. Why Sandisk Is a Strong Momentum Stock
• Neutral Sentiment: Volatile sector trading: Sandisk and other memory stocks rebounded after a broad sell-off, but the group also faced renewed pre-market weakness as investors reassessed valuation and near-term memory pricing. The mixed trading indicates that sentiment remains highly sensitive to sector news. Memory Stocks Rebound After Sell-Off
• Negative Sentiment: Chinese competition is a longer-term risk: Yangtze Memory Technologies is targeting greater NAND market share by 2027, potentially increasing pricing pressure and challenging established suppliers such as Sandisk. YMTC Targets NAND Dominance

Wall Street Analyst Weigh In

SNDK has been the subject of a number of analyst reports. Evercore reaffirmed an “outperform” rating on shares of Sandisk in a research report on Thursday, August 13th. New Street Research set a $3,000.00 price target on shares of Sandisk in a research report on Thursday, August 6th. Jefferies Financial Group reissued a “buy” rating on shares of Sandisk in a research report on Thursday, August 6th. JPMorgan Chase & Co. started coverage on shares of Sandisk in a research note on Friday, August 14th. They set an “overweight” rating and a $2,250.00 price objective for the company. Finally, Mizuho decreased their price objective on Sandisk from $1,900.00 to $1,875.00 and set an “outperform” rating for the company in a report on Tuesday. Three 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. Based on data from MarketBeat.com, Sandisk currently has an average rating of “Buy” and an average price target of $1,998.14.

Insiders Place Their Bets

In other news, EVP Alper Ilkbahar sold 2,000 shares of Sandisk stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $1,756.58, for a total value of $3,513,160.00. Following the completion of the transaction, the executive vice president owned 52,677 shares of the company’s stock, valued at $92,531,364.66. This trade represents a 3.66% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Bernard Shek sold 600 shares of the business’s 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 transaction, the insider owned 30,915 shares in the company, valued at $35,928,176.40. This represents a 1.90% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 3,800 shares of company stock valued at $6,504,856. Corporate insiders own 0.21% of the company’s stock.

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.