Carnegie Investment Counsel Buys New Shares in Sandisk Corporation $SNDK

Key Points

• Carnegie Investment Counsel opened a new position in SanDisk (NASDAQ:SNDK) in the first quarter, buying 583 shares valued at about $370,000.
• Analysts remain broadly bullish on SanDisk despite some mixed ratings changes: the stock has an average Moderate Buy rating and a consensus price target of $1,803.29, with several firms recently raising targets.
• Recent news has been split between positive AI/memory-demand commentary and volatility-related pressure, including worries that the memory rally may be cooling after a weak outlook from SK Hynix and broader tech-sector selling.

Carnegie Investment Counsel bought a new position in shares of Sandisk Corporation (NASDAQ:SNDK - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 583 shares of the data storage provider's stock, valued at approximately $370,000.

Other large investors have also bought and sold shares of the company. State Street Corp acquired a new position in shares of Sandisk during the third quarter valued at about $491,053,000. Arrowstreet Capital Limited Partnership bought a new position in shares of Sandisk during the 3rd quarter worth about $297,293,000. Norges Bank bought a new position in shares of Sandisk during the 4th quarter worth about $518,889,000. Bank of America Corp DE acquired a new stake in shares of Sandisk in the 3rd quarter valued at about $190,425,000. Finally, AQR Capital Management LLC acquired a new stake in shares of Sandisk in the 3rd quarter valued at about $163,057,000.

Analysts Set New Price Targets

A number of brokerages recently commented on SNDK. Wells Fargo & Company boosted their target price on Sandisk from $975.00 to $1,250.00 and gave the company an "equal weight" rating in a research report on Friday, May 1st. Morgan Stanley raised their price objective on Sandisk from $1,100.00 to $1,750.00 and gave the company an "overweight" rating in a research note on Wednesday, June 3rd. Zacks Research downgraded Sandisk from a "strong-buy" rating to a "hold" rating in a report on Wednesday, July 1st. Weiss Ratings upgraded Sandisk from a "hold (c+)" rating to a "buy (b-)" rating in a report on Monday, July 6th. Finally, UBS Group set a $1,700.00 target price on Sandisk in a research report on Monday, May 4th. Two analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $1,803.29.

More Sandisk News

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

In other news, CAO Michael Pokorny sold 2,446 shares of the firm's stock in a transaction that occurred on Tuesday, May 12th. The stock was sold at an average price of $1,426.18, for a total value of $3,488,436.28. Following the transaction, the chief accounting officer owned 22,375 shares in the company, valued at $31,910,777.50. This trade represents a 9.85% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Alper Ilkbahar sold 2,000 shares of Sandisk 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 value of $3,513,160.00. Following the transaction, the executive vice president directly owned 52,677 shares in the company, valued at approximately $92,531,364.66. The trade was a 3.66% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 6,225 shares of company stock valued at $10,166,297. Company insiders own 0.21% of the company's stock.

Sandisk Price Performance

NASDAQ:SNDK opened at $1,757.82 on Wednesday. The firm has a 50-day moving average of $1,744.88 and a 200-day moving average of $1,022.55. The company has a market cap of $260.32 billion, a PE ratio of 61.10 and a beta of 4.74. Sandisk Corporation has a one year low of $40.10 and a one year high of $2,354.39.

Sandisk (NASDAQ:SNDK - Get Free Report) last posted its earnings results on Thursday, April 30th. The data storage provider reported $23.41 earnings per share for the quarter, topping analysts' consensus estimates of $14.17 by $9.24. Sandisk had a net margin of 34.19% and a return on equity of 44.06%. The company had revenue of $5.95 billion for the quarter. During the same quarter in the prior year, the company earned ($0.30) EPS. The company's revenue was up 251.0% on a year-over-year basis. Sandisk has set its Q4 2026 guidance at 30.000-33.000 EPS. On average, equities research analysts expect 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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