California State Teachers Retirement System Has $864.91 Billion Stock Holdings in Sandisk Corporation $SNDK

Key Points

• CalSTRS dramatically increased its reported Sandisk stake by 235,032.6% in the second quarter, purchasing approximately 380.2 million additional shares. The filing valued its reported holdings at $864.91 billion, though the figures appear inconsistent with Sandisk’s stated market capitalization.
• Sandisk reported strong operating momentum: quarterly EPS reached $39.25 versus $33.28 expected, revenue surged 371.6% year over year to $8.96 billion, and management guided to fiscal Q1 2027 EPS of $44–$46. The board also authorized a $14 billion share-repurchase program.
• Analysts remain broadly bullish, with a consensus “Buy” rating and average price target of $1,998.14, citing AI-driven NAND demand. Key risks include the memory industry’s cyclicality, elevated valuation, rising Chinese competition and high share-price volatility.

California State Teachers Retirement System boosted its stake in Sandisk Corporation (NASDAQ:SNDK - Free Report) by 235,032.6% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 380,392,755 shares of the data storage provider's stock after purchasing an additional 380,230,977 shares during the period. Sandisk comprises about 2.4% of California State Teachers Retirement System's holdings, making the stock its 11th largest holding. California State Teachers Retirement System owned about 259.80% of Sandisk worth $864,910,419,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently added to or reduced their stakes in the company. Tanager Wealth Management LLP acquired a new position in Sandisk in the 2nd quarter worth about $330,000. Washington Trust Advisors Inc. raised its position in Sandisk by 360.0% in the second quarter. Washington Trust Advisors Inc. now owns 23 shares of the data storage provider's stock valued at $51,000 after purchasing an additional 18 shares during the last quarter. Ameritas Advisory Services LLC boosted its stake in shares of Sandisk by 572.5% during the second quarter. Ameritas Advisory Services LLC now owns 3,322 shares of the data storage provider's stock valued at $7,553,000 after purchasing an additional 2,828 shares in the last quarter. Guardian Wealth Advisors LLC NC acquired a new stake in shares of Sandisk during the second quarter valued at about $739,000. Finally, Wedmont Private Capital grew its holdings in shares of Sandisk by 13.9% during the second quarter. Wedmont Private Capital now owns 2,845 shares of the data storage provider's stock worth $6,469,000 after purchasing an additional 348 shares during the last quarter.

Insider Transactions at Sandisk

In other Sandisk news, insider Bernard Shek sold 600 shares of Sandisk stock in a transaction dated Tuesday, September 1st. The stock was sold at an average price of $1,525.60, for a total transaction of $915,360.00. Following the completion of the transaction, the insider owned 29,884 shares in the company, valued at approximately $45,591,030.40. The trade was a 1.97% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 1,800 shares of company stock worth $2,865,456. 0.21% of the stock is currently owned by insiders.

Key Headlines Impacting Sandisk

Here are the key news stories impacting Sandisk this week:

• Positive Sentiment: AI-driven memory demand is the main catalyst. Nvidia’s reported $12.9 billion acquisition of Hugging Face reinforced expectations that expanding AI data centers will require significantly more NAND storage. SanDisk rose alongside Micron and other AI-related semiconductor stocks. SanDisk Shares Surge Following Nvidia’s Hugging Face Deal
• Positive Sentiment: Analysts see substantial upside. Lynx Research set a $2,450 target for SNDK, while other bullish research points to accelerating NAND pricing, supply-and-demand advantages and strong AI-related growth. Zacks also maintained a Rank #1, or Strong Buy, view. Lynx Research Memory Stock Price Targets
• Positive Sentiment: SanDisk’s latest results provide fundamental support: earnings exceeded estimates, revenue rose 371.6% year over year, and management guided to $44–$46 in fiscal first-quarter 2027 EPS. The company’s $14 billion share-repurchase authorization may further support the stock.
• Neutral Sentiment: The broader semiconductor group is strong, but macro conditions remain mixed. A hot employment report pushed Treasury yields and rate-hike expectations higher, creating volatility for high-growth technology stocks. SanDisk will present at Citi’s and Goldman Sachs’ technology conferences on September 8–9, potentially providing additional guidance. SanDisk Investor Conference Participation
• Negative Sentiment: Investors continue to face risks from the memory industry’s cyclicality, elevated valuation and rising Chinese competition. Progress by China’s CXMT and other domestic producers could pressure SanDisk’s pricing and market share. A company insider also sold $915,360 of shares under a pre-arranged Rule 10b5-1 plan, although the sale was relatively small compared with the remaining holding. China Memory Market Share Concerns

Sandisk Price Performance

SNDK stock opened at $1,740.00 on Monday. Sandisk Corporation has a 1 year low of $63.74 and a 1 year high of $2,354.39. The company's 50-day moving average is $1,543.33 and its 200-day moving average is $1,289.76. The stock has a market capitalization of $254.77 billion, a PE ratio of 23.87, a price-to-earnings-growth ratio of 0.17 and a beta of 5.17.

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

Sandisk announced that its board has approved a stock buyback plan on Wednesday, August 5th that permits the company to repurchase $14.00 billion in shares. This repurchase authorization permits the data storage provider to reacquire up to 6.6% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company's board believes its stock is undervalued.

Analyst Ratings Changes

SNDK has been the subject of a number of research reports. Evercore reiterated an "outperform" rating on shares of Sandisk in a report on Thursday, August 13th. Jefferies Financial Group reaffirmed a "buy" rating on shares of Sandisk in a report on Thursday, August 6th. Barclays raised Sandisk from an "equal weight" rating to an "overweight" rating and increased their price target for the company from $1,200.00 to $2,300.00 in a research note on Tuesday, May 26th. JPMorgan Chase & Co. assumed coverage on Sandisk in a research note on Friday, August 14th. They issued an "overweight" rating and a $2,250.00 price objective on the stock. Finally, Wells Fargo & Company increased their target price on shares of Sandisk from $1,400.00 to $1,550.00 and gave the company an "equal weight" rating in a research report on Thursday, August 13th. Three research analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of "Buy" and a consensus price target of $1,998.14.

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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