Legal & General Group Plc Cuts Stake in Sandisk Corporation $SNDK

Key Points

• Legal & General Group Plc cut its SanDisk stake by 41.5% in the fourth quarter, selling 147,554 shares and ending with 208,094 shares worth about $49.4 million.
• SanDisk reported strong quarterly results, with EPS of $23.41 beating estimates by a wide margin and revenue jumping 251% year over year to $5.95 billion. The company also issued Q4 2026 guidance of 30.0 to 33.0 EPS.
• Analyst sentiment remains bullish, with multiple firms raising price targets and the consensus rating sitting at Buy. Recent commentary also points to AI-related storage demand and new products like QLC Stargate as potential growth drivers.

Legal & General Group Plc lowered its position in Sandisk Corporation (NASDAQ:SNDK - Free Report) by 41.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 208,094 shares of the data storage provider's stock after selling 147,554 shares during the quarter. Legal & General Group Plc owned approximately 0.14% of Sandisk worth $49,397,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also bought and sold shares of SNDK. Osaic Holdings Inc. purchased a new stake in shares of Sandisk during the second quarter valued at approximately $317,000. Merit Financial Group LLC purchased a new stake in shares of Sandisk during the third quarter valued at approximately $408,000. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in shares of Sandisk during the third quarter valued at approximately $1,816,000. Strs Ohio purchased a new stake in shares of Sandisk during the third quarter valued at approximately $362,000. Finally, Mutual of America Capital Management LLC purchased a new stake in shares of Sandisk during the third quarter valued at approximately $1,735,000.

Sandisk Trading Up 3.2%

Shares of Sandisk stock opened at $1,694.98 on Friday. Sandisk Corporation has a 12-month low of $36.21 and a 12-month high of $1,708.83. The company has a market cap of $251.01 billion, a P/E ratio of 58.91 and a beta of 4.82. The company's fifty day simple moving average is $1,073.33 and its two-hundred day simple moving average is $644.72.

Sandisk (NASDAQ:SNDK - Get Free Report) last announced its 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 net margin of 34.19% and a return on equity of 44.06%. The firm had revenue of $5.95 billion for the quarter. During the same period in the previous year, the firm posted ($0.30) EPS. The company's revenue for the quarter was up 251.0% on a year-over-year basis. Sandisk has set its Q4 2026 guidance at 30.000-33.000 EPS. Analysts predict that Sandisk Corporation will post 63.58 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have recently weighed in on SNDK. Mizuho increased their price objective on Sandisk from $1,625.00 to $1,825.00 and gave the company an "outperform" rating in a research note on Thursday. Jefferies Financial Group reissued a "buy" rating and set a $1,400.00 price objective on shares of Sandisk in a research note on Friday, May 1st. Sanford C. Bernstein increased their price objective on Sandisk from $1,250.00 to $1,700.00 and gave the company an "outperform" rating in a research note on Monday, May 4th. Zacks Research raised Sandisk from a "hold" rating to a "strong-buy" rating in a research note on Friday, February 20th. Finally, Wedbush increased their price objective on Sandisk from $740.00 to $1,200.00 and gave the company an "outperform" rating in a research note on Wednesday, April 29th. Three research analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and three have issued a Hold rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus target price of $1,368.73.

Sandisk News Roundup

Here are the key news stories impacting Sandisk this week:

• Positive Sentiment: Susquehanna raised its price target on Sandisk to $3,250 from $2,000 and reiterated a positive view, reinforcing the bullish case that the stock still has substantial upside. Article Title
• Positive Sentiment: Mizuho also lifted its target on SNDK and kept an outperform rating, adding to the broader analyst momentum behind the shares. Article Title
• Positive Sentiment: Investors are betting that Sandisk’s QLC Stargate product could become a new revenue growth driver, with shipments targeted for Q4 FY26 to meet AI data-center storage demand beyond traditional SSD products. Article Title
• Positive Sentiment: Market commentary continues to frame Sandisk as a prime beneficiary of the AI infrastructure boom, especially because agentic AI and other workloads require far more memory capacity, tightening supply and supporting pricing power. Article Title

Insider Activity at Sandisk

In other Sandisk news, Director Necip Sayiner sold 579 shares of Sandisk stock in a transaction that occurred on Friday, May 8th. The stock was 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 of the company's stock, valued at approximately $4,359,019. The trade was a 16.64% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Michael Pokorny sold 2,446 shares of the company's stock in a transaction that occurred on 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 transaction, the chief accounting officer owned 22,375 shares in the company, valued at $31,910,777.50. This trade represents a 9.85% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.21% of the company's stock.

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.

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