Convergence Investment Partners LLC Purchases New Holdings in Sandisk Corporation $SNDK

Key Points

• Convergence Investment Partners opened a new position in Sandisk during Q1, buying 9,535 shares valued at about $6.1 million. The stake represents roughly 1.0% of its holdings and is now its 20th-largest position.
• Insider selling continued at Sandisk, including notable sales by Director Necip Sayiner and EVP Alper Ilkbahar. Over the past 90 days, insiders sold 6,225 shares worth about $10.2 million.
• Sandisk’s business momentum remains strong, with the company reporting Q1 EPS of $23.41 versus an expected $14.17 and revenue up 251% year over year. Analysts remain broadly bullish, with a consensus Moderate Buy rating and an average price target of $1,803.29.

Convergence Investment Partners LLC purchased a new position in shares of Sandisk Corporation (NASDAQ:SNDK - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 9,535 shares of the data storage provider's stock, valued at approximately $6,058,000. Sandisk makes up 1.0% of Convergence Investment Partners LLC's holdings, making the stock its 20th biggest holding.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in SNDK. Valley Wealth Managers Inc. bought a new stake in shares of Sandisk during the 1st quarter valued at $25,000. Whittier Trust Co. acquired a new stake in shares of Sandisk during the 4th quarter worth $26,000. Greenline Wealth Management LLC bought a new position in shares of Sandisk in the fourth quarter worth $26,000. Chung Wu Investment Group LLC bought a new position in shares of Sandisk in the fourth quarter worth $27,000. Finally, Westfuller Advisors LLC raised its stake in Sandisk by 51.8% in the fourth quarter. Westfuller Advisors LLC now owns 126 shares of the data storage provider's stock valued at $30,000 after purchasing an additional 43 shares in the last quarter.

Insider Activity at Sandisk

In related news, 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 directly owned 2,900 shares in the company, valued at $4,359,019. This represents a 16.64% decrease in their position. 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 the company's stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $1,756.58, for a total transaction of $3,513,160.00. Following the transaction, the executive vice president owned 52,677 shares of the company's stock, valued at approximately $92,531,364.66. This represents a 3.66% 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. Company insiders own 0.21% of the company's stock.

Key Stories Impacting Sandisk

Here are the key news stories impacting Sandisk this week:

• Positive Sentiment: Memory and semiconductor stocks are rebounding sharply in Monday trading, lifting Sandisk along with peers as investors regain confidence after the recent selloff. Micron Jumps 5%, SanDisk Rises 6%, Western Digital Climbs 4% as Memory Stocks Rebound With Chips
• Positive Sentiment: Investors are viewing the memory-stock pullback as a strong entry point, which is encouraging dip-buying in SanDisk and other chip names. The Memory Stock Sell-Off Created a ‘Strong Entry Point,' Says Morgan Stanley. Investors Are Buying In.
• Positive Sentiment: Morgan Stanley reportedly flagged several semiconductor and AI infrastructure stocks as attractive after the memory-equity selloff, supporting a broader rebound in the group. Banking giant names 7 stocks to buy after memory equities sell-off
• Positive Sentiment: Recent commentary remains constructive on Sandisk’s earnings power, citing strong revenue growth, higher margins, and its position in AI storage demand. Sandisk: The Math Supporting A Rare Opportunity
• Positive Sentiment: Additional bullish coverage says Sandisk remains attractive despite its big 2026 run, pointing to ongoing memory-chip shortage conditions. Sandisk: Even After a 580% Rise in 2026, It's Still a Screaming Buy NASDAQ: SNDK

Sandisk Stock Up 2.7%

Shares of SNDK stock opened at $1,390.95 on Tuesday. The business has a fifty day simple moving average of $1,743.12 and a 200 day simple moving average of $1,056.26. The company has a market cap of $205.99 billion, a P/E ratio of 48.35 and a beta of 4.74. Sandisk Corporation has a twelve month low of $40.10 and a twelve month high of $2,354.39.

Sandisk (NASDAQ:SNDK - Get Free Report) last issued its earnings results on Thursday, April 30th. The data storage provider reported $23.41 EPS for the quarter, topping the consensus estimate of $14.17 by $9.24. The firm had revenue of $5.95 billion during the quarter. Sandisk had a return on equity of 44.06% and a net margin of 34.19%.The firm's revenue was up 251.0% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.30) EPS. Sandisk has set its Q4 2026 guidance at 30.000-33.000 EPS. As a group, equities research analysts anticipate that Sandisk Corporation will post 64.52 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

SNDK has been the subject of several recent analyst reports. Raymond James Financial reaffirmed an "outperform" rating and set a $1,470.00 price objective on shares of Sandisk in a research report on Friday, May 1st. Melius Research set a $2,350.00 target price on shares of Sandisk in a report on Monday, May 18th. Evercore set a $3,100.00 target price on shares of Sandisk in a research report on Monday, July 13th. Citigroup upped their price target on shares of Sandisk from $2,025.00 to $2,500.00 and gave the stock a "buy" rating in a report on Thursday, June 25th. Finally, The Goldman Sachs Group reiterated a "buy" rating and set a $1,200.00 price target on shares of Sandisk in a research 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 five have given a Hold rating to the company. Based on data from MarketBeat.com, Sandisk presently has a consensus rating of "Moderate Buy" and an average price target of $1,803.29.

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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