Calamos Advisors LLC Invests $14.72 Million in Sandisk Corporation $SNDK

Key Points

• Calamos Advisors LLC initiated a new position in Sandisk, buying 23,165 shares worth about $14.72 million in the first quarter.
• Several other large institutions also reported major new stakes in Sandisk, underscoring continued institutional interest in the memory and data storage company.
• Analysts remain broadly bullish: recent target increases from firms like Cantor Fitzgerald, Mizuho, and Wedbush pushed the consensus rating to Moderate Buy, with the stock also benefiting from optimism around AI-driven memory demand ahead of earnings.

Calamos Advisors LLC bought a new stake in Sandisk Corporation (NASDAQ:SNDK - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 23,165 shares of the data storage provider's stock, valued at approximately $14,718,000.

A number of other institutional investors and hedge funds also recently modified their holdings of SNDK. State Street Corp bought a new position in Sandisk in the 3rd quarter valued at $491,053,000. Arrowstreet Capital Limited Partnership purchased a new stake in shares of Sandisk during the 3rd quarter valued at $297,293,000. Norges Bank bought a new stake in shares of Sandisk during the 4th quarter worth $518,889,000. Bank of America Corp DE bought a new stake in shares of Sandisk during the 3rd quarter worth $190,425,000. Finally, AQR Capital Management LLC purchased a new position in shares of Sandisk in the 3rd quarter worth about $163,057,000.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on SNDK. Cantor Fitzgerald increased their price target on shares of Sandisk from $1,800.00 to $2,900.00 and gave the company an "overweight" rating in a research report on Monday, June 8th. Mizuho lifted their price objective on shares of Sandisk from $1,825.00 to $2,200.00 and gave the stock an "outperform" rating in a research report on Monday, June 8th. Wedbush lifted their price objective on shares of Sandisk from $1,200.00 to $2,000.00 and gave the stock an "outperform" rating in a research report on Thursday, July 9th. Jefferies Financial Group restated a "buy" rating and set a $1,400.00 price target on shares of Sandisk in a research note on Friday, May 1st. Finally, Raymond James Financial reaffirmed an "outperform" rating and issued a $1,470.00 price target on shares of Sandisk in a report on Friday, May 1st. Two equities research analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, Sandisk has a consensus rating of "Moderate Buy" and a consensus target price of $1,803.29.

Key Headlines Impacting Sandisk

Here are the key news stories impacting Sandisk this week:

• Positive Sentiment: Wedbush and Evercore both turned more bullish on SanDisk (SNDK), with price targets lifted sharply ahead of the August 5 earnings report; analysts cited strong memory pricing, robust AI demand, and upside to revenue and earnings. Article: Wedbush Pounds the Table—Buy Sandisk Before August 5 Earnings
• Positive Sentiment: Several reports said memory stocks, including SanDisk, look attractive after the recent selloff because AI-driven demand remains strong and valuations have improved. Article: Why You Must Buy These 4 Memory Stocks After the Recent Sell-Off
• Positive Sentiment: SNDK was added to a Zacks Rank #1 momentum list and highlighted as a “buy the dip” name, reinforcing the idea that some investors see the pullback as a buying opportunity. Article: Best Momentum Stocks to Buy for July 13th
• Positive Sentiment: Commentary around AI inference and the storage market suggested SanDisk could remain a beneficiary of the AI memory supercycle, which supports the longer-term bullish narrative. Article: Sandisk: How It Wins From The AI Inference Trend
• Neutral Sentiment: Market commentary focused on whether the recent AI memory boom has more room to run, but these pieces were mainly discussion-oriented rather than new company-specific catalysts. Article: Price Prediction: From $40 to $2,000 in a Year. Where is SanDisk Headed Now?
• Negative Sentiment: SanDisk fell with other memory and semiconductor names after SK Hynix issued a weaker outlook, triggering worries that the AI memory trade may be cooling and pressuring the whole group. Article: Micron, SanDisk, Western Digital Fall 6% as SK Hynix's Weak Outlook Rattles Memory Stocks
• Negative Sentiment: Broader market weakness and risk-off trading, including renewed geopolitical tension and tech-sector selling, added to the downward pressure on SNDK. Article: Why Is Sandisk Stock Falling Monday?
• Negative Sentiment: Some headlines noted that SanDisk has dropped sharply over the past two weeks, suggesting traders are taking profits after an enormous year-to-date rally. Article: SanDisk drops 20% in two weeks: What's next for the stock?

Insider Buying and Selling at Sandisk

In related news, EVP Alper Ilkbahar sold 2,000 shares of the company's stock in a transaction that occurred on 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 sale, the executive vice president directly owned 52,677 shares in the company, valued at approximately $92,531,364.66. This represents a 3.66% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Necip Sayiner sold 579 shares of Sandisk stock in a transaction that occurred on Friday, May 8th. The shares were sold at an average price of $1,503.11, for a total transaction of $870,300.69. Following the completion of the transaction, the director owned 2,900 shares of the company's stock, valued at $4,359,019. This represents a 16.64% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 6,225 shares of company stock worth $10,166,297 over the last three months. Company insiders own 0.21% of the company's stock.

Sandisk Stock Performance

Shares of SNDK opened at $1,757.82 on Wednesday. The business has a 50-day moving average of $1,744.88 and a 200 day moving average of $1,022.55. Sandisk Corporation has a fifty-two week low of $40.10 and a fifty-two week high of $2,354.39. The firm has a market cap of $260.32 billion, a P/E ratio of 61.10 and a beta of 4.74.

Sandisk (NASDAQ:SNDK - Get Free Report) last announced 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. The business had revenue of $5.95 billion for the quarter. Sandisk had a return on equity of 44.06% and a net margin of 34.19%.The company's revenue was up 251.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.30) earnings per share. Sandisk has set its Q4 2026 guidance at 30.000-33.000 EPS. As a group, research analysts predict that Sandisk Corporation will post 64.95 earnings per share for the current fiscal year.

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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