Keybank National Association OH Makes New $702,000 Investment in Sandisk Corporation $SNDK

Key Points

• Keybank National Association OH disclosed a new first-quarter position in Sandisk, buying 1,105 shares valued at about $702,000.
• Sandisk continues to attract major institutional interest, with large firms like State Street, Norges Bank, and Arrowstreet Capital also adding substantial new stakes in recent quarters.
• The stock has strong bullish support from analysts and investors, helped by a blowout earnings report and higher price targets, but it is also facing pressure from a broader memory-sector selloff and concerns about future supply competition.

Keybank National Association OH purchased a new position in shares of Sandisk Corporation (NASDAQ:SNDK - Free Report) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 1,105 shares of the data storage provider's stock, valued at approximately $702,000.

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

Key Stories Impacting Sandisk

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 reiterated a Buy rating, citing a continuing supply-demand imbalance in the NAND market that could support pricing and earnings. Sandisk (SNDK): Among the Most Profitable Cheap Stocks to Invest In
• Positive Sentiment: Several recent articles argue the selloff may be an opportunity, highlighting Sandisk’s strong revenue growth, upbeat guidance, and continued AI/data-center demand for memory chips. Sandisk: I'm Catching The Falling Knife; Here's How
• Positive Sentiment: Commentary from analysts and market watchers says Wall Street remains highly bullish on Sandisk’s long-term outlook despite near-term volatility, with some noting the stock’s momentum and large year-to-date gains. Sandisk Stock Tumbles in Tech Sell-Off, but Wall Street Sees More Upside
• Neutral Sentiment: Sandisk has been discussed as a standout momentum and “best stock to buy” candidate for the second half of 2026, reflecting strong investor interest but not a clear new fundamental catalyst. Is Sandisk Corporation NASDAQ: SNDK Among the Best Stocks to Buy for the Second Half of 2026?
• Negative Sentiment: The main drag today appears to be a broad memory-sector reset, with Sandisk falling alongside Micron and Western Digital as investors worry the AI memory boom may be cooling and that supply could eventually catch up with demand. Memory Stock Sell-Off: Is This the Time to Buy Micron Technology and Sandisk Like There's No Tomorrow?
• Negative Sentiment: Citi Wealth noted that China’s domestic memory industry is gaining recognition, which could pressure incumbents like Sandisk and squeeze future profits. SanDisk and Micron Risk Profit Squeeze from Chinese Memory Threat

Sandisk Price Performance

Sandisk stock opened at $1,727.18 on Thursday. Sandisk Corporation has a 12-month low of $40.10 and a 12-month high of $2,354.39. The stock has a market capitalization of $255.78 billion, a P/E ratio of 60.03 and a beta of 4.74. The firm's 50-day moving average is $1,692.15 and its two-hundred day moving average is $978.66.

Sandisk (NASDAQ:SNDK - Get Free Report) last issued its quarterly earnings results on Thursday, April 30th. The data storage provider reported $23.41 EPS for the quarter, topping analysts' consensus estimates of $14.17 by $9.24. The business had revenue of $5.95 billion during the quarter. Sandisk had a net margin of 34.19% and a return on equity of 44.06%. The business's quarterly revenue was up 251.0% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.30) earnings per share. Sandisk has set its Q4 2026 guidance at 30.000-33.000 EPS. As a group, analysts forecast that Sandisk Corporation will post 64.01 EPS for the current year.

Insider Activity

In other Sandisk news, Director Necip Sayiner sold 579 shares of the business's stock in a transaction on Friday, May 8th. The stock was sold at an average price of $1,503.11, for a total value of $870,300.69. Following the completion of the transaction, the director directly owned 2,900 shares in the company, valued at approximately $4,359,019. The trade was a 16.64% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Alper Ilkbahar sold 2,000 shares of the business's stock in a transaction 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 completion of the transaction, the executive vice president owned 52,677 shares of the company's stock, valued at $92,531,364.66. This trade represents a 3.66% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 6,225 shares of company stock valued at $10,166,297 over the last quarter. Insiders own 0.21% of the company's stock.

Analysts Set New Price Targets

Several research firms recently weighed in on SNDK. Weiss Ratings raised Sandisk from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Monday. Cantor Fitzgerald upped their target price on Sandisk from $1,800.00 to $2,900.00 and gave the company an "overweight" rating in a report on Monday, June 8th. UBS Group set a $1,700.00 price target on Sandisk in a research report on Monday, May 4th. Raymond James Financial reaffirmed an "outperform" rating and set a $1,470.00 price target on shares of Sandisk in a research note on Friday, May 1st. Finally, Zacks Research lowered shares of Sandisk from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, July 1st. Two investment analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and four have given a Hold rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $1,684.24.

Sandisk 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.

Want to see what other hedge funds are holding SNDK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Sandisk Corporation (NASDAQ:SNDK - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.