OP Asset Management Ltd Buys New Position in Sandisk Corporation $SNDK

Key Points

• OP Asset Management Ltd initiated a new position in Sandisk during the first quarter, buying 8,410 shares valued at about $5.34 million.
• Several other institutional investors also added stakes in Sandisk, while insiders have been selling shares in recent months, including transactions by Bernard Shek and Director Necip Sayiner.
• Despite a recent 10.5% drop, Wall Street remains broadly bullish: analysts have raised price targets, Sandisk posted a strong quarterly earnings beat, and the company cited robust AI-driven demand for NAND flash and SSD products.

OP Asset Management Ltd bought a new stake in Sandisk Corporation (NASDAQ:SNDK - Free Report) during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 8,410 shares of the data storage provider's stock, valued at approximately $5,343,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Osaic Holdings Inc. acquired a new position in shares of Sandisk in the second quarter valued at approximately $317,000. Merit Financial Group LLC acquired a new stake in Sandisk during the third quarter worth approximately $408,000. Clearstead Advisors LLC purchased a new stake in Sandisk in the 3rd quarter worth approximately $216,000. EverSource Wealth Advisors LLC purchased a new stake in Sandisk in the 3rd quarter worth approximately $299,000. Finally, MAI Capital Management acquired a new position in Sandisk in the 3rd quarter valued at $181,000.

Insider Transactions at Sandisk

In other news, insider Bernard Shek sold 600 shares of the business's stock in a transaction dated Wednesday, June 3rd. The stock was sold at an average price of $1,736.00, for a total transaction of $1,041,600.00. Following the completion of the sale, the insider owned 32,232 shares in the company, valued at approximately $55,954,752. The trade was a 1.83% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Necip Sayiner sold 579 shares of the 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. This trade represents a 16.64% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 5,625 shares of company stock valued at $8,913,497. 0.21% of the stock is owned by company insiders.

Key Headlines Impacting Sandisk

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

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on SNDK. Sanford C. Bernstein increased their price target on Sandisk from $1,250.00 to $1,700.00 and gave the stock an "outperform" rating in a research note on Monday, May 4th. Susquehanna upped their target price on Sandisk from $2,000.00 to $3,250.00 and gave the company a "positive" rating in a research note on Friday, May 29th. Wells Fargo & Company increased their target price 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. KGI Securities started coverage on Sandisk in a research note on Wednesday, March 18th. They issued an "outperform" rating and a $992.00 price target on the stock. Finally, UBS Group set a $1,700.00 price target on Sandisk in a report on Monday, May 4th. Three research analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, Sandisk has an average rating of "Moderate Buy" and an average target price of $1,603.29.

Sandisk Stock Down 10.5%

Shares of NASDAQ SNDK opened at $2,090.71 on Friday. Sandisk Corporation has a 52-week low of $40.10 and a 52-week high of $2,354.39. The firm has a fifty day moving average of $1,546.01 and a 200-day moving average of $881.10. The stock has a market capitalization of $309.61 billion, a PE ratio of 72.67 and a beta of 4.87.

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 for the quarter, topping 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 business had revenue of $5.95 billion for the quarter. During the same period last year, the business posted ($0.30) earnings per share. 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. Equities research analysts expect that Sandisk Corporation will post 64.01 EPS 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.

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.