California Public Employees Retirement System Has $147.89 Million Position in Sandisk Corporation $SNDK

Key Points

• California Public Employees Retirement System cut its Sandisk stake by 38.7% in the first quarter, but still held 232,774 shares worth about $147.9 million.
• Wall Street sentiment remains constructive overall, with Sandisk carrying a Moderate Buy consensus and an average target price of $1,803.29; Wedbush recently lifted its target to $2,000.
• Sandisk reported a strong quarter, with $23.41 EPS versus $14.17 expected and revenue up 251% year over year, though the stock still traded down about 4% on Friday amid recent volatility.

California Public Employees Retirement System lessened its position in shares of Sandisk Corporation (NASDAQ:SNDK - Free Report) by 38.7% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 232,774 shares of the data storage provider's stock after selling 147,222 shares during the period. California Public Employees Retirement System owned approximately 0.16% of Sandisk worth $147,891,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also made changes to their positions in the company. Cedar Mountain Advisors LLC lifted its stake in Sandisk by 2,750.0% during the first quarter. Cedar Mountain Advisors LLC now owns 57 shares of the data storage provider's stock worth $36,000 after purchasing an additional 55 shares during the last quarter. Roble Belko & Company Inc bought a new position in shares of Sandisk in the 1st quarter valued at $39,000. Main Street Group LTD bought a new position in shares of Sandisk in the 1st quarter valued at $53,000. First United Bank & Trust acquired a new position in shares of Sandisk during the 1st quarter worth $54,000. Finally, Ascentis Independent Advisors bought a new position in Sandisk in the first quarter valued at about $59,000.

Wall Street Analysts Forecast Growth

Several brokerages have commented on SNDK. Jefferies Financial Group reissued a "buy" rating and set a $1,400.00 target price on shares of Sandisk in a research note on Friday, May 1st. Zacks Research downgraded shares of Sandisk from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, July 1st. Weiss Ratings raised shares of Sandisk from a "hold (c+)" rating to a "buy (b-)" rating in a report on Monday, July 6th. Wedbush upped 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. Finally, Argus initiated coverage on shares of Sandisk in a research note on Wednesday. They issued a "hold" rating for the company. Two equities research analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, Sandisk currently has an average rating of "Moderate Buy" and an average target price of $1,803.29.

Sandisk Trading Down 4.0%

Sandisk stock opened at $1,354.38 on Friday. The stock has a 50-day moving average price of $1,746.25 and a two-hundred day moving average price of $1,042.54. Sandisk Corporation has a 12 month low of $40.10 and a 12 month high of $2,354.39. The company has a market capitalization of $200.57 billion, a PE ratio of 47.08 and a beta of 4.74.

Sandisk (NASDAQ:SNDK - Get Free Report) last released its quarterly earnings results on Thursday, April 30th. The data storage provider reported $23.41 earnings per share for the quarter, topping the consensus estimate 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 for the quarter. During the same quarter last year, the firm posted ($0.30) earnings per share. The business's revenue for the quarter was up 251.0% on a year-over-year basis. Sandisk has set its Q4 2026 guidance at 30.000-33.000 EPS. As a group, analysts predict that Sandisk Corporation will post 64.52 earnings per share for the current fiscal year.

Insider Buying and Selling at Sandisk

In other Sandisk news, insider Bernard Shek sold 600 shares of the business's stock in a transaction that occurred on Wednesday, July 1st. The shares were sold at an average price of $2,088.00, for a total transaction of $1,252,800.00. Following the sale, the insider directly owned 31,515 shares of the company's stock, valued at $65,803,320. The trade was a 1.87% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Necip Sayiner sold 579 shares of the company's 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 approximately $4,359,019. This trade represents a 16.64% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 6,225 shares of company stock valued at $10,166,297. 0.21% of the stock is owned by insiders.

More Sandisk News

Here are the key news stories impacting Sandisk this week:

• Positive Sentiment: Despite the pullback, several recent pieces remain constructive on Sandisk’s long-term setup, pointing to strong demand from AI infrastructure and tighter memory supply conditions that could support revenue and margins. Article Title
• Positive Sentiment: Sandisk’s valuation has come down sharply from recent highs, with some investors and analysts arguing the selloff may have made the stock more attractive relative to its growth outlook. Article Title
• Neutral Sentiment: Sandisk also announced progress on its Fab2 project with Kioxia and said BiCS10 sampling has begun, a development that supports its product roadmap but is not an immediate earnings catalyst. Article Title
• Negative Sentiment: Technical damage has intensified after the stock broke key support levels, with chart watchers citing a sharp drop from recent peaks and warning that momentum has turned decisively lower ahead of the next earnings report. Article Title
• Negative Sentiment: Sector-wide weakness, including concerns about Chinese competition and a broad AI-chip rotation, has added to the selloff in memory stocks such as Sandisk. Article Title

Sandisk 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.