Amundi Boosts Stake in Sandisk Corporation $SNDK

Key Points

• Amundi increased its Sandisk stake by 135.5% in the first quarter, acquiring 502,166 additional shares and holding 872,632 shares worth approximately $554.4 million. Other major institutions, including State Street, Geode, Arrowstreet and Morgan Stanley, also expanded their positions.
• Sandisk reported quarterly earnings of $23.41 per share, beating estimates by $9.24, while revenue rose 251% year over year to $5.95 billion. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $1,811.38.
• The stock opened at $1,015.89 after falling 7.3%, amid a broader memory-stock selloff and concerns about elevated valuations, competition and future pricing pressure. Company insiders sold $10.2 million of shares in the last quarter, while analysts continue to cite AI-driven storage demand as a potential long-term catalyst.

Amundi lifted its stake in shares of Sandisk Corporation (NASDAQ:SNDK - Free Report) by 135.5% in the first quarter, according to its most recent filing with the SEC. The fund owned 872,632 shares of the data storage provider's stock after acquiring an additional 502,166 shares during the period. Amundi owned approximately 0.59% of Sandisk worth $554,418,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in SNDK. State Street Corp lifted its position in Sandisk by 20.7% in the 4th quarter. State Street Corp now owns 5,281,522 shares of the data storage provider's stock worth $1,253,728,000 after buying an additional 904,933 shares during the last quarter. Geode Capital Management LLC grew its position in Sandisk by 44.9% during the fourth quarter. Geode Capital Management LLC now owns 3,655,860 shares of the data storage provider's stock valued at $866,310,000 after acquiring an additional 1,133,276 shares during the last quarter. Arrowstreet Capital Limited Partnership raised its stake in shares of Sandisk by 31.3% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 3,478,002 shares of the data storage provider's stock worth $825,608,000 after acquiring an additional 828,332 shares in the last quarter. Morgan Stanley raised its stake in shares of Sandisk by 7.2% during the fourth quarter. Morgan Stanley now owns 2,970,361 shares of the data storage provider's stock worth $705,105,000 after acquiring an additional 199,545 shares in the last quarter. Finally, Norges Bank bought a new stake in shares of Sandisk in the 4th quarter worth approximately $518,889,000.

Sandisk Stock Down 7.3%

NASDAQ:SNDK opened at $1,015.89 on Thursday. The company has a fifty day moving average of $1,739.66 and a 200 day moving average of $1,109.53. Sandisk Corporation has a 52 week low of $40.10 and a 52 week high of $2,354.39. The firm has a market capitalization of $150.44 billion, a P/E ratio of 35.31 and a beta of 4.74.

Sandisk (NASDAQ:SNDK - Get Free Report) last announced its quarterly earnings results on Thursday, April 30th. The data storage provider reported $23.41 earnings per share for the quarter, beating the consensus estimate of $14.17 by $9.24. The business had revenue of $5.95 billion during the quarter. Sandisk had a net margin of 34.19% and a return on equity of 44.06%. The company's quarterly revenue was up 251.0% on a year-over-year basis. During the same period in the previous year, the company earned ($0.30) EPS. As a group, analysts anticipate that Sandisk Corporation will post 64.52 EPS for the current year.

Insiders Place Their Bets

In other Sandisk news, CAO Michael Pokorny sold 2,446 shares of the company's stock in a transaction that occurred on Tuesday, May 12th. The stock was sold at an average price of $1,426.18, for a total transaction of $3,488,436.28. Following the completion of the transaction, the chief accounting officer owned 22,375 shares of the company's stock, valued at $31,910,777.50. This represents a 9.85% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 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 value of $3,513,160.00. Following the completion of the sale, the executive vice president owned 52,677 shares of the company's stock, valued at approximately $92,531,364.66. This trade represents a 3.66% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 6,225 shares of company stock worth $10,166,297 in the last quarter. 0.21% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. Jefferies Financial Group reaffirmed a "buy" rating and issued a $1,400.00 price objective on shares of Sandisk in a research note on Friday, May 1st. Argus assumed coverage on shares of Sandisk in a research report on Wednesday, July 15th. They issued a "hold" rating on the stock. Barclays raised shares of Sandisk from an "equal weight" rating to an "overweight" rating and boosted their price target for the stock from $1,200.00 to $2,300.00 in a research note on Tuesday, May 26th. Mizuho upped their price target on shares of Sandisk from $1,825.00 to $2,200.00 and gave the company an "outperform" rating in a research report on Monday, June 8th. Finally, Wells Fargo & Company raised their price objective on Sandisk from $1,250.00 to $1,620.00 and gave the company an "equal weight" rating in a research note on Wednesday, July 22nd. Two research analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and six have assigned a Hold rating to the company's stock. According to data from MarketBeat, Sandisk currently has a consensus rating of "Moderate Buy" and an average target price of $1,811.38.

Trending Headlines about Sandisk

Here are the key news stories impacting Sandisk this week:

• Positive Sentiment: Some analysts view the selloff as a potential buying opportunity. Sandisk’s outlook is supported by strong AI-driven storage demand, approximately $42 billion in contracts and a debt-free balance sheet. Analysts’ consensus target of about $2,218 implies substantial long-term upside from recent levels. Does Sandisk Stock’s Recent Sharp Sell-Off Offer a Buying Opportunity?
• Positive Sentiment: Expectations remain favorable ahead of Sandisk’s fiscal fourth-quarter earnings report, scheduled for August 5. Recent analyst commentary points to potentially strong earnings growth, while the company’s prior quarter significantly exceeded consensus expectations on both earnings and revenue. What SK Hynix and Seagate Earnings Mean for SanDisk
• Neutral Sentiment: Sandisk’s collapse has made inverse exposure unusually popular: the SNDQ ETF, which benefits when the stock falls, has surged more than 175% in July. This highlights the intensity of the move but does not change Sandisk’s underlying fundamentals. SanDisk’s Plunge Has Produced One of July’s Hottest ETF Trades
• Negative Sentiment: Memory stocks, including Sandisk, Micron and SK Hynix, are experiencing a sector-wide rout as investors question whether AI demand and valuations have become overheated. Sandisk has lost roughly half its value in July, increasing volatility and technical selling pressure. Memory Selloff Intensifies
• Negative Sentiment: Investors are also concerned about rising Chinese competition, including chipmaker CXMT’s planned IPO, and the possibility that increased supply could pressure future memory pricing and margins. Broader market risk aversion ahead of the Federal Reserve decision and a sharp oil-price spike added to selling in technology shares. Is the AI Chip Trade Actually Cracking?

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.

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