New York State Teachers Retirement System Has $73.98 Million Stake in Sandisk Corporation $SNDK

Key Points

• New York State Teachers Retirement System increased its Sandisk stake by 9.4% in the first quarter, ending with 116,436 shares valued at about $73.98 million.
• Sandisk continues to attract bullish analyst attention, with multiple firms raising price targets on expectations for strong AI storage demand; the consensus rating remains Moderate Buy.
• The company reported much stronger-than-expected earnings for the latest quarter, including EPS of $23.41 on revenue of $5.95 billion, though the stock has still faced pressure from a broader memory-sector pullback and profit-taking.

New York State Teachers Retirement System raised its position in Sandisk Corporation (NASDAQ:SNDK - Free Report) by 9.4% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 116,436 shares of the data storage provider's stock after buying an additional 10,037 shares during the quarter. New York State Teachers Retirement System owned about 0.08% of Sandisk worth $73,976,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. State Street Corp lifted 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 increased its stake in 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 acquiring an additional 1,133,276 shares during the last quarter. Arrowstreet Capital Limited Partnership increased its stake in Sandisk by 31.3% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 3,478,002 shares of the data storage provider's stock valued at $825,608,000 after acquiring an additional 828,332 shares during the last quarter. Morgan Stanley raised 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 valued at $705,105,000 after purchasing an additional 199,545 shares in the last quarter. Finally, Norges Bank acquired a new position in Sandisk during the fourth quarter valued at approximately $518,889,000.

Key Headlines Impacting Sandisk

Here are the key news stories impacting Sandisk this week:

• Positive Sentiment: Sandisk announced sampling of its BiCS10 1Tb TLC 3D NAND flash memory, highlighting higher density, better power efficiency, and faster interface speeds for data-intensive workloads. Article Title
• Positive Sentiment: China Renaissance raised its price target on Sandisk to $3,169, citing strong AI storage demand, while Bank of America also lifted its target to $2,500 and reiterated a buy rating. Article Title
• Neutral Sentiment: Market commentary continued to frame Sandisk as a high-volatility AI infrastructure winner, with some analysts arguing that recent swings may be creating buying opportunities on dips. Article Title
• Negative Sentiment: Investor rotation away from AI chip and memory hardware names has hit Sandisk, with traders shifting toward AI software and raising concerns about a temporary memory-sector pullback. Article Title
• Negative Sentiment: Heavy profit-taking and broader supply-glut fears in memory stocks also weighed on Sandisk, adding to the sector-wide decline despite the company’s strong fundamentals. Article Title
• Negative Sentiment: Insider Bernard Shek sold 600 shares under a pre-arranged 10b5-1 plan, which may add a little caution even though the sale was disclosed as routine. Article Title

Analysts Set New Price Targets

SNDK has been the subject of several recent analyst reports. Arete Research upgraded Sandisk from a "hold" rating to a "strong-buy" rating in a research note on Monday, April 13th. Mizuho lifted their price target on Sandisk from $1,825.00 to $2,200.00 and gave the company an "outperform" rating in a research note on Monday, June 8th. Sanford C. Bernstein boosted their price target on Sandisk from $1,700.00 to $3,000.00 and gave the stock an "outperform" rating in a report on Monday. 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. Finally, Bank of America raised their price objective on Sandisk from $2,100.00 to $2,500.00 and gave the company a "buy" rating in a research note on Wednesday. Three analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and four have issued a Hold rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $1,684.24.

Insider Transactions at Sandisk

In related news, EVP Alper Ilkbahar sold 2,000 shares of the firm's stock in a transaction that occurred 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 in the company, valued at $92,531,364.66. This trade represents a 3.66% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, 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 owned 2,900 shares in the company, valued at approximately $4,359,019. This represents a 16.64% 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 valued at $10,166,297. 0.21% of the stock is currently owned by company insiders.

Sandisk Stock Down 14.1%

NASDAQ SNDK opened at $1,745.00 on Friday. The company has a market cap of $258.42 billion, a price-to-earnings ratio of 60.65 and a beta of 4.72. Sandisk Corporation has a twelve month low of $40.10 and a twelve month high of $2,354.39. The business's fifty day moving average is $1,634.90 and its 200 day moving average is $936.43.

Sandisk (NASDAQ:SNDK - Get Free Report) last issued its earnings results on Thursday, April 30th. The data storage provider reported $23.41 earnings per share (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 return on equity of 44.06% and a net margin of 34.19%.Sandisk's revenue for the quarter was up 251.0% on a year-over-year basis. During the same period in the previous year, the company earned ($0.30) EPS. Sandisk has set its Q4 2026 guidance at 30.000-33.000 EPS. On average, research analysts anticipate that Sandisk Corporation will post 64.01 earnings per share for the current fiscal year.

Sandisk Company 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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