Bessemer Group Inc. Buys 1,121 Shares of Sandisk Corporation $SNDK

Key Points

• Bessemer Group Inc. increased its Sandisk stake by 45.6% in Q1, buying 1,121 additional shares and bringing its total holdings to 3,577 shares valued at about $2.27 million.
• Sandisk continues to attract bullish sentiment as reports point to rising memory prices and strong AI-related NAND demand, with analysts saying these trends could support revenue, margins, and a rebound in semiconductor stocks.
• The company beat its latest earnings estimates, posting $23.41 EPS on $5.95 billion in revenue, and analysts now see a consensus Moderate Buy rating with an average price target of $1,820.90.

Bessemer Group Inc. grew its position in shares of Sandisk Corporation (NASDAQ:SNDK - Free Report) by 45.6% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,577 shares of the data storage provider's stock after purchasing an additional 1,121 shares during the period. Bessemer Group Inc.'s holdings in Sandisk were worth $2,272,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the company. State Street Corp purchased a new position in Sandisk during the 3rd quarter valued at approximately $491,053,000. Arrowstreet Capital Limited Partnership purchased a new stake in shares of Sandisk during the 3rd quarter worth approximately $297,293,000. Norges Bank purchased a new stake in shares of Sandisk during the 4th quarter worth approximately $518,889,000. Bank of America Corp DE bought a new position in shares of Sandisk during the 3rd quarter valued at approximately $190,425,000. Finally, AQR Capital Management LLC bought a new position in shares of Sandisk during the 3rd quarter valued at approximately $163,057,000.

Sandisk News Summary

Here are the key news stories impacting Sandisk this week:

• Positive Sentiment: Reports say memory prices are still surging, which supports expectations for stronger revenue and margins at Sandisk. Memory Prices Are Still Skyrocketing. Is the Next Rally for Micron, Sandisk, and SK Hynix Just Beginning?
• Positive Sentiment: Analysts and market commentators continue to highlight Sandisk as a beneficiary of AI-related NAND demand, enterprise SSD growth, and favorable pricing dynamics. Sandisk Trades at 8.3X Discounted P/E: Time to Buy the Stock?
• Positive Sentiment: UBS and other strategists said the recent selloff in AI and semiconductor names may be nearing exhaustion, which could help sentiment rebound further in Sandisk. UBS sees Broadcom, Sandisk, Oracle stocks rebounding: here's why
• Positive Sentiment: Tuesday’s memory-stock rally and Morgan Stanley’s forecast for another big jump in memory prices reinforced the bullish setup for SNDK. Micron, Western Digital, and Sandisk Just Jumped 12% to 14%. Here's the Forecast That Did It.
• Neutral Sentiment: Some coverage noted that the stock also saw profit-taking and broader market weakness at times, which can create short-term volatility even within the stronger trend. Why Is Sandisk Stock Falling on Wednesday?

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on SNDK shares. Sanford C. Bernstein raised their target price on shares of Sandisk from $1,700.00 to $3,000.00 and gave the company an "outperform" rating in a report on Monday, June 29th. Wells Fargo & Company upped their price target on shares of Sandisk from $1,250.00 to $1,620.00 and gave the company an "equal weight" rating in a research note on Wednesday. The Goldman Sachs Group reiterated a "buy" rating and set a $1,200.00 price objective on shares of Sandisk in a research report on Friday, May 1st. Arete Research raised shares of Sandisk from a "hold" rating to a "strong-buy" rating in a research note on Monday, April 13th. Finally, UBS Group set a $1,700.00 target price on shares of Sandisk in a report on Monday, May 4th. Two analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat, Sandisk presently has a consensus rating of "Moderate Buy" and a consensus price target of $1,820.90.

Insider Activity at Sandisk

In related news, insider Bernard Shek sold 600 shares of the firm's stock in a transaction dated Wednesday, July 1st. The shares were sold at an average price of $2,088.00, for a total value of $1,252,800.00. Following the transaction, the insider owned 31,515 shares of the company's stock, valued at $65,803,320. This trade represents a 1.87% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Alper Ilkbahar sold 2,000 shares of the business's stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $1,756.58, for a total transaction of $3,513,160.00. Following the completion of the sale, the executive vice president directly 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 ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 6,225 shares of company stock valued at $10,166,297. Company insiders own 0.21% of the company's stock.

Sandisk Stock Performance

Shares of NASDAQ SNDK opened at $1,599.27 on Thursday. Sandisk Corporation has a fifty-two week low of $40.10 and a fifty-two week high of $2,354.39. The company has a market cap of $236.84 billion, a price-to-earnings ratio of 55.59 and a beta of 4.74. The business's 50 day moving average price is $1,748.90 and its 200-day moving average price is $1,075.37.

Sandisk (NASDAQ:SNDK - Get Free Report) last posted its quarterly earnings data on Thursday, April 30th. The data storage provider reported $23.41 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $14.17 by $9.24. Sandisk had a return on equity of 44.06% and a net margin of 34.19%.The company had revenue of $5.95 billion during the quarter. During the same quarter in the previous year, the firm earned ($0.30) EPS. Sandisk's revenue was up 251.0% compared to the same quarter last year. Sandisk has set its Q4 2026 guidance at 30.000-33.000 EPS. Sell-side analysts predict that Sandisk Corporation will post 64.52 earnings per share for the current year.

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.

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