Parnassus Investments LLC Invests $103.82 Million in Sandisk Corporation $SNDK

Key Points

• Parnassus Investments LLC established a new position in Sandisk (NASDAQ:SNDK), buying 925,267 shares worth approximately $103.82 million and owning about 0.63% of the company at quarter-end.
• Sandisk posted a strong quarter—$1.22 EPS vs. $0.58 expected and $2.31B revenue (up 22.6%) with Q2 2026 guidance of 3.00–3.40 EPS—and recent analyst upgrades and reports about potential price hikes for 3D NAND plus Nvidia‑driven data‑center demand have supported a bullish market narrative (consensus: Moderate Buy, average target ~$239).

Parnassus Investments LLC purchased a new position in Sandisk Corporation (NASDAQ:SNDK - Free Report) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 925,267 shares of the data storage provider's stock, valued at approximately $103,815,000. Parnassus Investments LLC owned 0.63% of Sandisk at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Cromwell Holdings LLC bought a new stake in shares of Sandisk in the third quarter valued at $39,000. True Wealth Design LLC bought a new stake in Sandisk during the 3rd quarter valued at $40,000. Webster Bank N. A. bought a new position in shares of Sandisk in the third quarter worth $45,000. Global Retirement Partners LLC bought a new stake in shares of Sandisk during the 3rd quarter valued at $49,000. Finally, Mather Group LLC. purchased a new position in Sandisk during the third quarter valued at approximately $60,000.

Sandisk Stock Performance

Shares of SNDK stock opened at $377.41 on Friday. The company has a market capitalization of $55.31 billion and a P/E ratio of 1,179.41. Sandisk Corporation has a fifty-two week low of $27.89 and a fifty-two week high of $384.00. The company has a debt-to-equity ratio of 0.14, a quick ratio of 2.03 and a current ratio of 3.29. The stock has a 50 day moving average price of $241.03 and a two-hundred day moving average price of $135.35.

Sandisk (NASDAQ:SNDK - Get Free Report) last posted its quarterly earnings results on Thursday, November 6th. The data storage provider reported $1.22 EPS for the quarter, beating analysts' consensus estimates of $0.58 by $0.64. The firm had revenue of $2.31 billion for the quarter, compared to the consensus estimate of $2.12 billion. The company's quarterly revenue was up 22.6% on a year-over-year basis. Sandisk has set its Q2 2026 guidance at 3.000-3.40 EPS.

Analyst Ratings Changes

SNDK has been the subject of several analyst reports. Wedbush raised their price target on shares of Sandisk from $220.00 to $260.00 and gave the company an "outperform" rating in a report on Friday, November 7th. JPMorgan Chase & Co. started coverage on Sandisk in a research report on Monday, December 8th. They set a "neutral" rating and a $235.00 target price for the company. UBS Group reaffirmed an "overweight" rating and issued a $230.00 price target on shares of Sandisk in a report on Monday, November 3rd. Mizuho boosted their price objective on Sandisk from $250.00 to $410.00 and gave the stock an "outperform" rating in a report on Friday. Finally, Wall Street Zen downgraded shares of Sandisk from a "strong-buy" rating to a "buy" rating in a research note on Saturday, December 27th. Three research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $239.17.

Insider Buying and Selling at Sandisk

In other news, Director Necip Sayiner sold 1,271 shares of the business's stock in a transaction that occurred on Wednesday, December 3rd. The stock was sold at an average price of $195.14, for a total value of $248,022.94. Following the sale, the director directly owned 3,479 shares of the company's stock, valued at $678,892.06. The trade was a 26.76% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 0.21% of the company's stock.

Key Sandisk News

Here are the key news stories impacting Sandisk this week:

• Positive Sentiment: Report says SanDisk could double prices for 3D NAND used in enterprise SSDs — if true, much higher ASPs (average selling prices) for high‑capacity enterprise flash would boost margins and revenue visibility, supporting a re-rating of SNDK. Sandisk surges after report indicating company could double price of 3D NAND for enterprise SSDs: report
• Positive Sentiment: Nomura / market writeups cited by news outlets say SanDisk plans to sharply raise prices on high‑capacity parts — reinforcing the price‑power narrative and helping lift sentiment among momentum traders and funds focused on AI supply chains. Why SanDisk Stock (SNDK) Is Surging Today
• Positive Sentiment: Bank of America raised its price target to $390 and reiterated a Buy — the upgrade follows Nvidia’s CES comments about a large unserved memory market, and BofA links that secular demand to higher valuation support for SNDK. BofA Hikes SanDisk (SNDK) PT to $390 Following Nvidia’s CES 2026 AI Roadmap
• Positive Sentiment: Nvidia CEO Jensen Huang highlighted memory as a major unserved market at CES — that macro narrative increases conviction that data‑center flash demand (and pricing) will remain strong, benefiting memory suppliers like SanDisk. SanDisk Trending After Nvidia CEO Jensen Huang Flags Memory As Major 'Unserved Market' With Surging Demand And Prices
• Neutral Sentiment: SanDisk appears on lists of top stocks to "double up" on for 2026 — positive publicity but more thematic than news‑driven; useful for retail inflows but not a direct catalyst. Top Stocks to Double Up on Right Now
• Neutral Sentiment: MarketBeat and other roundups note SanDisk’s massive 2025 run and early‑2026 momentum — supports investor interest and flows, though it’s reiterative of existing momentum rather than a new fundamental change. MarketBeat Week in Review – 01/05 - 01/09
• Negative Sentiment: Technical/valuation caution: coverage flagged SNDK as overbought after a ~20% surge — raises risk of a short-term pullback or consolidation despite favorable fundamentals. SanDisk Stock Just Became Overbought After 20% Surge in SNDK

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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