New Mexico Educational Retirement Board Takes $1.52 Million Position in Sandisk Corporation $SNDK

Key Points

• New Mexico Educational Retirement Board initiated a new stake in Sandisk, buying 6,400 shares worth about $1.52 million in the fourth quarter.
• Several analysts remain bullish on Sandisk, with recent price targets ranging as high as $3,250 and the stock carrying a consensus Buy rating.
• Sandisk posted a strong quarter, reporting $23.41 EPS versus an expected $14.17 and revenue up 251% year over year, while commentary continues to frame the company as a beneficiary of AI-driven memory demand.

New Mexico Educational Retirement Board acquired a new position in shares of Sandisk Corporation (NASDAQ:SNDK - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 6,400 shares of the data storage provider's stock, valued at approximately $1,519,000.

Several other institutional investors and hedge funds have also bought and sold shares of SNDK. Osaic Holdings Inc. bought a new stake in Sandisk during the second quarter worth about $317,000. Merit Financial Group LLC bought a new stake in Sandisk during the third quarter worth about $408,000. Mutual of America Capital Management LLC bought a new stake in Sandisk during the third quarter worth about $1,735,000. Federated Hermes Inc. bought a new stake in Sandisk during the third quarter worth about $88,000. Finally, Mirae Asset Global Investments Co. Ltd. bought a new stake in Sandisk during the third quarter worth about $41,000.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on SNDK shares. KGI Securities started coverage on shares of Sandisk in a research report on Wednesday, March 18th. They set an "outperform" rating and a $992.00 price objective for the company. Susquehanna upped their price objective on shares of Sandisk from $2,000.00 to $3,250.00 and gave the stock a "positive" rating in a research report on Friday, May 29th. Bank of America upped their price objective on shares of Sandisk from $900.00 to $1,080.00 and gave the stock a "buy" rating in a research report on Friday, April 17th. Raymond James Financial reaffirmed an "outperform" rating and set a $1,470.00 price objective on shares of Sandisk in a research report on Friday, May 1st. Finally, Zacks Research raised shares of Sandisk from a "hold" rating to a "strong-buy" rating in a research report on Friday, February 20th. Three equities research analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus price target of $1,368.73.

Sandisk News Summary

Here are the key news stories impacting Sandisk this week:

• Positive Sentiment: Multiple articles highlighted Sandisk as a beneficiary of the AI memory supercycle, with analysts and commentators saying tight memory markets, strong pricing, and booming data center demand could keep supporting earnings and valuation. 3 Storage Devices Stocks to Buy as the Industry Gains Momentum
• Positive Sentiment: Several bullish pieces said Sandisk remains one of the favored AI memory stocks, with some writers arguing the company is still undervalued despite its huge run and that analysts see additional upside ahead. After SanDisk's Historic Run, Analysts Still See More Upside
• Positive Sentiment: Sandisk was also cited as one of the top-searching and most-followed tickers in May, reflecting strong retail and trader interest that can help keep momentum in the stock. Is Sandisk Corporation (SNDK) One of the Top Undervalued Blue Chip Stocks Analysts Recommend for Smart Investing?
• Positive Sentiment: An article on 247WallSt called Sandisk its favorite stock idea, citing the AI data center buildout as a major tailwind for the company’s storage products. Why Sandisk Corporation Is My Favorite Stock Idea Right Now
• Neutral Sentiment: Sandisk EVP Alper Ilkbahar sold 2,000 shares for about $3.5 million, a modest insider sale that may be viewed as routine profit-taking, though it can still add a little caution for investors. SEC filing
• Negative Sentiment: One article noted that Sandisk’s stock and short interest are both at record highs, which suggests the move has become crowded and could invite volatility if sentiment shifts. SanDisk's stock and short interest both at record highs - do the bears know something?

Sandisk Price Performance

Sandisk stock opened at $1,716.36 on Wednesday. The business has a 50 day moving average of $1,093.12 and a 200-day moving average of $657.86. Sandisk Corporation has a 1 year low of $36.87 and a 1 year high of $1,804.00. The company has a market capitalization of $254.18 billion, a P/E ratio of 59.66 and a beta of 4.87.

Sandisk (NASDAQ:SNDK - Get Free Report) last released its quarterly earnings data on Thursday, April 30th. The data storage provider reported $23.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $14.17 by $9.24. Sandisk had a return on equity of 44.06% and a net margin of 34.19%.The company had revenue of $5.95 billion during the quarter. During the same period in the prior year, the company earned ($0.30) EPS. 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. Equities analysts anticipate that Sandisk Corporation will post 63.58 EPS for the current year.

Insider Activity

In other Sandisk news, CAO Michael Pokorny sold 2,446 shares of the stock in a transaction that occurred on Tuesday, May 12th. The shares were sold at an average price of $1,426.18, for a total transaction of $3,488,436.28. Following the completion of the sale, the chief accounting officer owned 22,375 shares of the company's stock, valued at approximately $31,910,777.50. This represents a 9.85% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, 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 transaction of $870,300.69. Following the sale, the director directly owned 2,900 shares of the company's stock, valued at $4,359,019. This represents a 16.64% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 5,025 shares of company stock valued at $7,871,897 over the last quarter. 0.21% of the stock is owned by company insiders.

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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