K.J. Harrison & Partners Inc Purchases New Holdings in Sandisk Corporation $SNDK

Key Points

• K.J. Harrison & Partners Inc. opened a new position in Sandisk during the first quarter, buying 3,001 shares valued at about $1.9 million.
• Sandisk reported a strong quarterly result, posting $23.41 EPS versus estimates of $14.17 and revenue of $5.95 billion, with revenue up 251% year over year. The company also guided Q4 2026 EPS to 30.0-33.0.
• Despite recent volatility and some insider selling, analysts remain largely bullish: several firms raised price targets, including Bank of America and Citigroup at $2,500, and the stock still carries a consensus Moderate Buy rating.

K.J. Harrison & Partners Inc acquired a new stake in shares of Sandisk Corporation (NASDAQ:SNDK - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 3,001 shares of the data storage provider's stock, valued at approximately $1,907,000.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Roble Belko & Company Inc purchased a new position in shares of Sandisk in the 1st quarter valued at approximately $39,000. First United Bank & Trust purchased a new stake in shares of Sandisk during the first quarter worth approximately $54,000. Greenline Wealth Management LLC purchased a new stake in shares of Sandisk during the fourth quarter worth approximately $26,000. Whittier Trust Co. acquired a new stake in shares of Sandisk during the fourth quarter worth $26,000. Finally, Chung Wu Investment Group LLC acquired a new stake in shares of Sandisk during the fourth quarter worth $27,000.

Sandisk Stock Performance

Shares of SNDK stock opened at $1,745.00 on Friday. The stock has a fifty day moving average price of $1,650.22 and a 200 day moving average price of $942.09. The stock has a market cap of $258.42 billion, a PE ratio of 60.65 and a beta of 4.74. Sandisk Corporation has a 1 year low of $40.10 and a 1 year high of $2,354.39.

Sandisk (NASDAQ:SNDK - Get Free Report) last announced its quarterly earnings results on Thursday, April 30th. The data storage provider reported $23.41 earnings per share for the quarter, beating 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 quarter in the prior year, the business earned ($0.30) EPS. The company'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 predict that Sandisk Corporation will post 64.01 earnings per share for the current year.

More Sandisk News

Here are the key news stories impacting Sandisk this week:

• Positive Sentiment: Sandisk announced it has started production of its 10th-generation 3D flash memory with Kioxia at the Kitakami plant, and separately said it is sampling BiCS10 1Tb TLC 3D NAND. Both updates point to higher density, better power efficiency, and more capacity for data-center and AI workloads. Article Title Article Title
• Positive Sentiment: Analysts remained constructive on Sandisk, with China Renaissance lifting its price target sharply on strong AI storage demand and Bank of America raising its target to $2,500 while keeping a buy rating. Article Title
• Positive Sentiment: Commentary from several outlets says the recent selloff may be a pullback after a huge first-half rally, with some investors viewing the weakness as a buying opportunity rather than a change in the underlying growth thesis. Article Title
• Neutral Sentiment: MarketBeat’s week-in-review noted Sandisk as a poster child for tech-sector volatility, reflecting how much the stock can swing on sector rotation and sentiment shifts. Article Title
• Negative Sentiment: Sandisk shares have been hit by a broader selloff in AI chip and memory stocks as investors rotate toward AI software, and some reports also cite profit-taking and memory supply-glut fears. Article Title Article Title
• Negative Sentiment: Insider Bernard Shek sold 600 shares under a pre-arranged 10b5-1 plan, a routine filing but still a mild caution flag for sentiment. Article Title

Analyst Upgrades and Downgrades

A number of equities analysts have commented on SNDK shares. The Goldman Sachs Group restated a "buy" rating and set a $1,200.00 price objective on shares of Sandisk in a research report on Friday, May 1st. Zacks Research downgraded shares of Sandisk from a "strong-buy" rating to a "hold" rating in a report on Wednesday. Bank of America boosted their price target on shares of Sandisk from $2,100.00 to $2,500.00 and gave the stock a "buy" rating in a research note on Wednesday. Citigroup increased 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, Wedbush raised their price objective on shares of Sandisk from $740.00 to $1,200.00 and gave the company an "outperform" rating in a research report on Wednesday, April 29th. Two research analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $1,684.24.

Insider Buying and Selling at Sandisk

In other news, Director Necip Sayiner sold 579 shares of the 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 value of $870,300.69. Following the sale, the director directly owned 2,900 shares in the company, valued at $4,359,019. This represents a 16.64% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Alper Ilkbahar sold 2,000 shares of the firm'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 directly 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. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 6,225 shares of company stock worth $10,166,297. 0.21% of the stock is currently owned by insiders.

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.

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.