Deprince Race & Zollo Inc. Reduces Position in Sandisk Corporation $SNDK

Key Points

• Deprince Race & Zollo Inc. cut its Sandisk stake by 71.3% in the first quarter, selling 92,315 shares and ending the period with 37,167 shares valued at about $23.6 million.
• Several insiders also sold stock recently, including Bernard Shek and EVP Alper Ilkbahar, though insider ownership remains low at 0.21% of shares outstanding.
• Analysts remain broadly bullish on Sandisk, with recent price target hikes and a consensus Moderate Buy rating, supported by strong NAND pricing, AI storage demand, and the company’s blowout quarterly results.

Deprince Race & Zollo Inc. lessened its position in Sandisk Corporation (NASDAQ:SNDK - Free Report) by 71.3% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 37,167 shares of the data storage provider's stock after selling 92,315 shares during the period. Deprince Race & Zollo Inc.'s holdings in Sandisk were worth $23,614,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the business. State Street Corp purchased a new position in Sandisk during the 3rd quarter valued at $491,053,000. Arrowstreet Capital Limited Partnership purchased a new position in Sandisk during the third quarter valued at $297,293,000. Norges Bank bought a new position in Sandisk in the 4th quarter worth about $518,889,000. Bank of America Corp DE purchased a new stake in shares of Sandisk during the third quarter valued at approximately $190,425,000. Finally, AQR Capital Management LLC purchased a new stake in Sandisk during the 3rd quarter valued at $163,057,000.

Insiders Place Their Bets

In related news, insider Bernard Shek sold 600 shares of the firm's stock in a transaction that occurred on Wednesday, June 3rd. The stock was sold at an average price of $1,736.00, for a total transaction of $1,041,600.00. Following the completion of the sale, the insider directly owned 32,232 shares of the company's stock, valued at approximately $55,954,752. This trade represents a 1.83% decrease in their position. The sale was disclosed in a legal filing 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. Also, EVP Alper Ilkbahar sold 2,000 shares of Sandisk stock in a transaction on Monday, June 1st. The stock was sold at an average price of $1,756.58, for a total value of $3,513,160.00. Following the sale, the executive vice president owned 52,677 shares of the company's stock, valued at approximately $92,531,364.66. This trade represents a 3.66% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 5,625 shares of company stock valued at $8,913,497 over the last quarter. 0.21% of the stock is currently owned by insiders.

Sandisk News Summary

Here are the key news stories impacting Sandisk this week:

• Positive Sentiment: Bank of America raised its price target on Sandisk to $2,500 from $2,100 and kept a Buy rating, citing tight NAND supply, stronger pricing, and demand that could remain elevated through 2027. Article Title
• Positive Sentiment: Bernstein also sharply boosted its outlook on Sandisk, with reports highlighting a much higher price target and confidence in the company’s contracts, earnings power, and the durability of the memory supercycle. Article Title
• Positive Sentiment: Analysts continue to point to Sandisk’s expanding QLC SSD portfolio, AI storage demand, and multi-year supply deals as support for longer-term growth. Article Title
• Neutral Sentiment: Several market commentary pieces noted that Sandisk has already run sharply higher this year, with some investors questioning whether valuations have gotten too stretched after the memory-stock rally. Article Title
• Neutral Sentiment: Sandisk’s recent earnings strength and bullish long-term guidance continue to support the stock, even as the market debates how much upside is already priced in.
• Negative Sentiment: Sandisk fell along with other memory-chip stocks in a broad semiconductor selloff, with investors locking in profits after a strong first half for the sector. Article Title
• Negative Sentiment: Reports also said a new class-action lawsuit against major memory chipmakers added pressure to the shares, reinforcing concerns about risk in the sector. Article Title

Analysts Set New Price Targets

A number of analysts have recently commented on the stock. Jefferies Financial Group reiterated a "buy" rating and issued a $1,400.00 price target on shares of Sandisk in a research note on Friday, May 1st. The Goldman Sachs Group reaffirmed a "buy" rating and issued a $1,200.00 price objective on shares of Sandisk in a research note on Friday, May 1st. Evercore restated an "outperform" rating and set a $1,400.00 target price on shares of Sandisk in a research note on Friday, May 1st. KGI Securities initiated coverage on Sandisk in a research note on Wednesday, March 18th. They issued an "outperform" rating and a $992.00 price target for the company. Finally, Susquehanna boosted their target price on shares of Sandisk from $2,000.00 to $3,250.00 and gave the stock a "positive" rating in a report on Friday, May 29th. Three analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, Sandisk has a consensus rating of "Moderate Buy" and an average target price of $1,684.24.

Sandisk Price Performance

Shares of NASDAQ SNDK opened at $2,032.22 on Thursday. The business's 50 day moving average is $1,618.07 and its two-hundred day moving average is $925.59. Sandisk Corporation has a 1-year low of $40.10 and a 1-year high of $2,354.39. The stock has a market capitalization of $300.95 billion, a P/E ratio of 70.64 and a beta of 4.72.

Sandisk (NASDAQ:SNDK - Get Free Report) last issued its quarterly earnings results on Thursday, April 30th. The data storage provider reported $23.41 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $14.17 by $9.24. The company 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 quarterly revenue was up 251.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.30) earnings per share. 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 64.01 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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