Maridea Wealth Management LLC Purchases New Stake in Sandisk Corporation $SNDK

Key Points

• Maridea Wealth Management opened a new position in Sandisk during the first quarter, buying 1,321 shares worth about $839,000.
• Institutional interest in Sandisk remains strong, with several large funds such as State Street, Geode Capital, and Arrowstreet increasing their holdings, while insiders have recently sold shares.
• Sandisk has seen a wave of bullish analyst action, including multiple rating upgrades and higher price targets, as the company posted a beat-and-raise quarter with EPS far above estimates and strong revenue growth.

Maridea Wealth Management LLC acquired a new position in shares of Sandisk Corporation (NASDAQ:SNDK - Free Report) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 1,321 shares of the data storage provider's stock, valued at approximately $839,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. State Street Corp raised its holdings in shares of Sandisk by 20.7% during the 4th quarter. State Street Corp now owns 5,281,522 shares of the data storage provider's stock worth $1,253,728,000 after acquiring an additional 904,933 shares during the period. Geode Capital Management LLC grew its holdings in shares of Sandisk by 44.9% in the fourth quarter. Geode Capital Management LLC now owns 3,655,860 shares of the data storage provider's stock valued at $866,310,000 after purchasing an additional 1,133,276 shares during the period. Arrowstreet Capital Limited Partnership increased its position in Sandisk by 31.3% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 3,478,002 shares of the data storage provider's stock worth $825,608,000 after purchasing an additional 828,332 shares during the last quarter. Morgan Stanley increased its position in Sandisk by 7.2% during the fourth quarter. Morgan Stanley now owns 2,970,361 shares of the data storage provider's stock worth $705,105,000 after purchasing an additional 199,545 shares during the last quarter. Finally, Norges Bank acquired a new stake in Sandisk during the fourth quarter worth about $518,889,000.

Insider Transactions at Sandisk

In other Sandisk news, insider Bernard Shek sold 600 shares of Sandisk stock in a transaction dated Wednesday, June 3rd. The stock was sold at an average price of $1,736.00, for a total value of $1,041,600.00. Following the completion of the transaction, the insider directly owned 32,232 shares of the company's stock, valued at $55,954,752. The trade was a 1.83% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, 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 transaction of $3,488,436.28. Following the sale, 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 ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 5,625 shares of company stock valued at $8,913,497. Insiders own 0.21% of the company's stock.

Key Sandisk News

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

Analyst Upgrades and Downgrades

SNDK has been the topic of several recent analyst reports. Arete Research upgraded shares of Sandisk from a "hold" rating to a "strong-buy" rating in a report on Monday, April 13th. Wedbush raised their price target on shares of Sandisk from $740.00 to $1,200.00 and gave the stock an "outperform" rating in a report on Wednesday, April 29th. Sanford C. Bernstein lifted their price target on shares of Sandisk from $1,250.00 to $1,700.00 and gave the company an "outperform" rating in a research report on Monday, May 4th. Barclays upgraded Sandisk from an "equal weight" rating to an "overweight" rating and upped their price objective for the company from $1,200.00 to $2,300.00 in a report on Tuesday, May 26th. Finally, Wells Fargo & Company increased their price objective on Sandisk from $975.00 to $1,250.00 and gave the stock an "equal weight" rating in a research report on Friday, May 1st. Three investment 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's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $1,603.29.

Sandisk Stock Performance

Sandisk stock opened at $2,090.71 on Friday. The company has a market capitalization of $309.61 billion, a PE ratio of 72.67 and a beta of 4.87. Sandisk Corporation has a fifty-two week low of $40.10 and a fifty-two week high of $2,354.39. The firm has a 50 day moving average price of $1,546.01 and a 200 day moving average price of $881.10.

Sandisk (NASDAQ:SNDK - Get Free Report) last released its quarterly earnings results on Thursday, April 30th. The data storage provider reported $23.41 EPS for the quarter, topping the consensus estimate of $14.17 by $9.24. The business 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 company's quarterly revenue was up 251.0% on a year-over-year basis. 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 forecast that Sandisk Corporation will post 64.01 earnings per share for the current year.

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.

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