Fifth Third Wealth Advisors LLC Purchases New Shares in Sandisk Corporation $SNDK

Key Points

• Fifth Third Wealth Advisors reported a new Q1 stake in Sandisk, buying 1,251 shares valued at about $795,000. The filing comes alongside similar new purchases by several other hedge funds.
• Analysts remain broadly constructive on the stock, with multiple firms issuing Buy or better ratings and an average price target of $1,603.29. UBS, Jefferies, Goldman Sachs, and Evercore all recently reaffirmed or raised positive views.
• Sandisk’s latest quarter was strong, with EPS of $23.41 versus a $14.17 estimate and revenue up 251% year over year. Even so, the stock was described as down 10.5% recently amid profit-taking and concerns that the memory rally may be cooling.

Fifth Third Wealth Advisors LLC acquired a new stake in shares of Sandisk Corporation (NASDAQ:SNDK - Free Report) during the 1st quarter, according to its most recent 13F filing with the SEC. The firm acquired 1,251 shares of the data storage provider's stock, valued at approximately $795,000.

A number of other hedge funds have also recently bought and sold shares of the company. Osaic Holdings Inc. bought a new stake in shares of Sandisk in the 2nd quarter worth $317,000. Merit Financial Group LLC purchased a new position in Sandisk during the third quarter worth about $408,000. Clearstead Advisors LLC purchased a new position in Sandisk during the third quarter worth about $216,000. EverSource Wealth Advisors LLC bought a new stake in Sandisk in the 3rd quarter worth about $299,000. Finally, MAI Capital Management bought a new stake in Sandisk in the 3rd quarter worth about $181,000.

Trending Headlines about Sandisk

Here are the key news stories impacting Sandisk this week:

• Positive Sentiment: Rising AI infrastructure demand continues to support Sandisk’s NAND flash and SSD business, with multiple articles pointing to strong pricing power, improving earnings, and a favorable industry backdrop. Micron + One Explosive AI Memory Stock to Buy Before H2 2026
• Positive Sentiment: Citi raised its price target on Sandisk to $2,500 and reiterated a Buy rating, reinforcing the view that Wall Street still sees upside after the company’s blowout quarter. Citi Just Raised Its Price Target on SanDisk Stock. Here's Why.
• Positive Sentiment: Micron’s strong results also lifted sentiment across the memory-chip group, putting Sandisk in focus as investors extrapolate stronger AI memory demand into the next quarter. Micron's Robust Q3 Results Raise Investor Attention on These 3 Stocks
• Neutral Sentiment: Some analysis notes that Sandisk remains attractively valued versus its growth profile, but that the stock carries higher execution and customer-concentration risk than more diversified peers. Sandisk: Unlike Micron, There's Much Higher Risk
• Negative Sentiment: Several market reports describe the move as a cooling of the memory rally, with traders locking in profits after Thursday’s sharp surge. Why Is Sandisk Stock Falling Friday?
• Negative Sentiment: One bearish note argues Sandisk has rallied too far too fast and implies material downside from current levels, adding to near-term pressure on the shares. Prediction: SanDisk Has Rallied Too Far, Too Fast. The Price Target Warns of 20%+ Downside

Analysts Set New Price Targets

Several equities analysts have commented on the stock. UBS Group set a $1,700.00 target price on shares of Sandisk in a research report on Monday, May 4th. Jefferies Financial Group reaffirmed a "buy" rating and issued a $1,400.00 target price on shares of Sandisk in a report on Friday, May 1st. Arete Research upgraded Sandisk from a "hold" rating to a "strong-buy" rating in a report on Monday, April 13th. The Goldman Sachs Group reissued a "buy" rating and issued a $1,200.00 price objective on shares of Sandisk in a research report on Friday, May 1st. Finally, Evercore restated an "outperform" rating and issued a $1,400.00 price objective on shares of Sandisk in a research note on Friday, May 1st. Three research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $1,603.29.

Insider Transactions at Sandisk

In related news, CAO Michael Pokorny sold 2,446 shares of the business's stock in a transaction dated 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 sale, the chief accounting officer directly owned 22,375 shares in the company, valued at approximately $31,910,777.50. The trade was a 9.85% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Necip Sayiner sold 579 shares of the company's stock in a transaction dated 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 sale, the director directly owned 2,900 shares in the company, valued at approximately $4,359,019. This trade represents a 16.64% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 5,625 shares of company stock worth $8,913,497. Insiders own 0.21% of the company's stock.

Sandisk Trading Down 10.5%

Sandisk stock opened at $2,090.71 on Friday. The business's 50 day simple moving average is $1,546.01 and its 200 day simple moving average is $881.10. Sandisk Corporation has a 12 month low of $40.10 and a 12 month high of $2,354.39. The company has a market cap of $309.61 billion, a price-to-earnings ratio of 72.67 and a beta of 4.87.

Sandisk (NASDAQ:SNDK - Get Free Report) last released its 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. Sandisk had a return on equity of 44.06% and a net margin of 34.19%.The business had revenue of $5.95 billion during the quarter. During the same period in the prior year, the business earned ($0.30) earnings per share. The business's quarterly revenue was up 251.0% compared to the same quarter last year. Sandisk has set its Q4 2026 guidance at 30.000-33.000 EPS. As a group, equities research analysts forecast 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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