Billionaire Israel Englander is the founder and CEO of Millennium Management, the fourth most successful hedge fund in history as measured by net gains since inception. In the first quarter, Englander made the following trades:
He sold 1.1 million shares of memory-chip maker Sandisk (NASDAQ: SNDK), cutting his position by 24%.
He bought 343,000 shares of lesser-known data storage company Everpure (NYSE: P), increasing his position by 60%.
At first glance, those trades are somewhat surprising because Sandisk shares have advanced 3,600% in the past year, while Everpure shares have added 36%. Here’s what investors should know.
Missed Nvidia in 2009? This Rare Signal Is Flashing Again. In 2009, a “Double Down” signal flashed for a little-known chipmaker called Nvidia. For the first time in years, that same “Total Conviction” signal is flashing for a company 1/100th the size of Nvidia. Continue »
Image source: Getty Images.
Sandisk: The stock Israel Englander sold in the first quarter
Sandisk designs storage devices based on NAND flash memory. The company has traditionally focused on consumer products like SD cards, USB flash drives, and portable solid-state drives (SSDs). But it recently shifted focus to enterprise SSDs to capitalize on growing demand for artificial intelligence infrastructure.
While Sandisk is smaller than competitors Samsung and SK Hynix, it realizes cost efficiencies through a joint venture with Japanese manufacturer Kioxia. The companies share expenses related to research and development (R&D) and semiconductor fabrication equipment, which lets them control the supply chain and obtain memory wafers at below-market prices.
“NAND flash is emerging as the only economically viable solution to deliver the capacity, performance, and efficiency required to keep models accessible for real-time inference at scale,” said CEO David Goeckeler. “This shift in understanding the critical nature of our technology comes at a time when our product…
..
