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Western Digital Launches $3.09 Billion SanDisk (SNDK) Stock Offering
Western Digital Launches $3.09 Billion SanDisk (SNDK) Stock Offering
Sajjl Nooranne
Sun, February 22, 2026 at 9:26 PM GMT+9 1 min read
In this article:
SNDK
+4.65%
WDC
+0.30%
We recently published an article titled 12 Best Data Storage Stocks to Buy Right Now.
On February 18, Sandisk Corporation (NASDAQ:SNDK) announced a secondary public offering of approximately $3.09 billion of common stock currently owned by Western Digital. SanDisk will not issue new shares or receive proceeds from the transaction, which includes a concurrent debt-for-equity exchange. J.P. Morgan Securities and BofA Securities are acting as joint lead book-runners and representatives of the underwriters.
Previously, on January 30, BofA raised its price target on Sandisk Corporation (NASDAQ:SNDK) to $850 from $390 and maintained a Buy rating after the company reported fiscal second-quarter revenue and EPS above guidance and issued fiscal third-quarter guidance significantly above Street expectations. Following the results, BofA increased its fiscal 2026 revenue and EPS estimates to $15.7 billion and $39.50, respectively, from $10.9 billion and $16.21, reflecting materially higher margin and profitability assumptions. Strong operating performance and upward estimate revisions underscore improving earnings power and position the company to benefit from favorable memory pricing dynamics.
Sandisk Corporation (NASDAQ:SNDK), founded in 1988 and headquartered in Milpitas, California, designs and manufactures flash memory products, including memory cards, USB drives, and solid-state storage solutions.
While we acknowledge the potential of SNDK as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you’re looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.
READ NEXT: 8 Up and Coming Streaming Companies and Services and 11 Best Canadian Growth Stocks to Buy According to Hedge Funds.
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