California State Teachers Retirement System Raises Stock Position in Sandisk Corporation $SNDK

California State Teachers Retirement System raised its holdings in shares of Sandisk Corporation (NASDAQ:SNDK - Free Report) by 3.4% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 167,299 shares of the data storage provider's stock after purchasing an additional 5,521 shares during the period. Sandisk accounts for 0.4% of California State Teachers Retirement System's portfolio, making the stock its 11th largest position. California State Teachers Retirement System owned approximately 0.11% of Sandisk worth $380,392,755 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Valley Wealth Managers Inc. bought a new stake in Sandisk in the 1st quarter valued at about $25,000. IMG Wealth Management Inc. bought a new stake in shares of Sandisk in the 1st quarter worth approximately $29,000. Dunhill Financial LLC purchased a new position in shares of Sandisk during the 2nd quarter worth approximately $30,000. Mowery & Schoenfeld Wealth Management LLC bought a new stake in Sandisk in the 2nd quarter worth about $32,000. Finally, Kilter Group LLC bought a new stake in shares of Sandisk during the 2nd quarter valued at $32,000.

Sandisk Stock Performance

Sandisk stock traded down $32.08 during trading on Tuesday, reaching $1,519.91. The company had a trading volume of 4,741,158 shares, compared to its average volume of 15,908,861. The firm's 50-day simple moving average is $1,513.91 and its 200 day simple moving average is $1,334.50. The firm has a market capitalization of $222.54 billion, a PE ratio of 20.86, a price-to-earnings-growth ratio of 0.16 and a beta of 5.17. Sandisk Corporation has a 1-year low of $89.56 and a 1-year high of $2,354.39.

Sandisk (NASDAQ:SNDK - Get Free Report) last announced its earnings results on Wednesday, August 5th. The data storage provider reported $39.25 earnings per share for the quarter, beating the consensus estimate of $33.28 by $5.97. The company had revenue of $8.96 billion for the quarter. Sandisk had a return on equity of 87.84% and a net margin of 56.47%.The company's revenue for the quarter was up 371.6% compared to the same quarter last year. During the same quarter last year, the business posted $0.29 earnings per share. Sandisk has set its Q1 2027 guidance at 44.000-46.000 EPS. Analysts anticipate that Sandisk Corporation will post 208.92 EPS for the current year.

Sandisk announced that its board has initiated a stock repurchase program on Wednesday, August 5th that allows the company to buyback $14.00 billion in shares. This buyback authorization allows the data storage provider to buy up to 6.6% of its shares through open market purchases. Shares buyback programs are usually an indication that the company's leadership believes its shares are undervalued.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. Citigroup cut their target price on Sandisk from $2,500.00 to $2,100.00 and set a "buy" rating on the stock in a research report on Thursday, August 6th. JPMorgan Chase & Co. assumed coverage on shares of Sandisk in a research report on Friday, August 14th. They set an "overweight" rating and a $2,250.00 price target for the company. Jefferies Financial Group restated a "buy" rating on shares of Sandisk in a research report on Thursday, August 6th. The Goldman Sachs Group reaffirmed a "buy" rating and issued a $2,200.00 price target on shares of Sandisk in a research report on Thursday, August 13th. Finally, Wells Fargo & Company lifted their target price on shares of Sandisk from $1,400.00 to $1,550.00 and gave the stock an "equal weight" rating in a report on Thursday, August 13th. Two research analysts have rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and four have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $1,998.14.

Key Sandisk News

Here are the key news stories impacting Sandisk this week:

• Positive Sentiment: Memory stocks, including Sandisk, rebounded in premarket trading after Monday’s broad decline, suggesting some investors viewed the sell-off as an opportunity to buy the dip. Why Memory Chip Stocks Micron, SanDisk, SK Hynix, and WDC Are Rebounding Today
• Positive Sentiment: Analysts continue to point to strong AI-driven demand for edge storage and enterprise SSDs as device content rises. Sandisk’s UltraQLC, BiCS9, BiCS10 and High Bandwidth Flash products could support higher-value sales and lower costs per bit. SNDK Capitalizes on AI Storage Growth
• Positive Sentiment: Sandisk’s multi-year New Business Model agreements reportedly cover about half of projected fiscal 2027 bit shipments and roughly two-thirds of fiscal 2028 shipments, potentially reducing exposure to NAND price cycles. The company has also begun retiring shares, which could increase per-share earnings over time. Sandisk: Customers Are Sending A New Signal
• Neutral Sentiment: A stock split is being discussed because SNDK trades at a four-figure price per share. However, a split would not change Sandisk’s revenue, profits or overall shareholder value. Is a Sandisk Stock Split Coming?
• Negative Sentiment: Investors are questioning whether more efficient AI models, particularly DeepSeek’s latest model, could reduce memory requirements and slow NAND demand. That concern triggered a broad sell-off in Sandisk, Micron and other memory stocks. SanDisk Shares Fall as AI Demand Concerns Weigh on Memory Stocks
• Negative Sentiment: Despite its long-term AI opportunity, Sandisk faces formidable competition from Micron and Seagate, while potentially stabilizing NAND supply could pressure pricing and earnings growth. SNDK Capitalizes on AI Storage Growth

Insider Transactions at Sandisk

In other Sandisk news, EVP Alper Ilkbahar sold 4,712 shares of the company's stock in a transaction dated Thursday, September 3rd. The shares were sold at an average price of $1,540.58, for a total value of $7,259,212.96. Following the completion of the sale, the executive vice president directly owned 44,134 shares of the company's stock, valued at approximately $67,991,957.72. This represents a 9.65% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Bernard Shek sold 2,308 shares of the stock in a transaction on Tuesday, September 8th. The shares were sold at an average price of $1,767.33, for a total transaction of $4,078,997.64. Following the transaction, the insider directly owned 25,305 shares in the company, valued at approximately $44,722,285.65. This represents a 8.36% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 9,220 shares of company stock worth $14,829,223. Insiders own 0.21% of the company's stock.

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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