Sandisk Corporation
In the published model solve dated 2026-Q2, anchored at $1005.00, Sandisk Corporation (SNDK) is priced for today's economics sustained for ~7.7 years. boothcheck publishes no house fair value, target price, or buy/sell rating; individual model outputs and user-controlled scenarios are analytical inputs, not Boothcheck targets. The narrative was composed July 11, 2026 from SEC EDGAR filings.
• Sandisk has converted a NAND shortage into contracted visibility: five multiyear supply agreements lock in $42 billion of minimum revenue backed by over $11 billion in guarantees, covering more than a third of fiscal 2027 bits, on top of an April quarter with revenue up 97 percent sequentially to $5.95 billion [Source: fiscal Q3 2026 press release and call, April 2026]. • The risk is the multiple, not the quarter: at about 81 times record-basis trailing operating income the price implies near-
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1,147 institutional managers reported holding SNDK in 13F filings for the quarter ended 2026-03-31. Together they hold about 71% of the company; the top 10 hold 38%. 481 opened new positions that quarter. Held by Vanguard Group, FMR (Fidelity), BlackRock, among others. On the short side, 10.9M shares were sold short as of the 2026-06-15 count, about 7% of shares outstanding (1 days of typical volume to cover).
Quarterly 13F filings arrive up to 45 days after quarter end, so the picture is never current (filed through 2026-05-29). Nothing here is investment advice.
No open-market insider buys on file at SNDK over the trailing three years. Absence is a fact about the company, not a signal. 14 officers and directors are on file.
Code P open-market purchases from SEC Form 4 filings, non-derivative, excluding scheduled 10b5-1 plans. Nothing here is investment advice.
SNDK's recent reports: the day-one move, then what the following quarter actually did.
| report | day one | next quarter |
|---|---|---|
| 2025-05-13 | +8.4% | +1.7% |
| 2025-08-22 | -5.3% | +301.5% |
| 2025-11-08 | +10.6% | +57.6% |
| 2026-01-31 | +9.2% | +21.8% |
Day-one is the close-to-close move around the filing. Nothing here is investment advice.
SNDK's latest 8-K filings: 2026-05-15 (items 8.01, 9.01); 2026-04-30 (items 2.02, 8.01, 9.01); 2026-03-25 (items 1.01, 8.01, 9.01); 2026-01-29 (items 2.02, 9.01); 2026-01-02 (items 5.02).
Item codes are the SEC's own classification of what each report discloses. Dates link to the filing on EDGAR. Nothing here is investment advice.
Model solve date: 2026-Q2
Narrative composed: July 11, 2026
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For informational and research purposes only. Not investment advice. Not a recommendation to buy, sell, or hold any security. boothcheck is not a registered investment adviser. Past performance does not guarantee future results.