PNC Financial Services Group Inc. Acquires 13,940 Shares of Sandisk Corporation $SNDK

Key Points

• PNC Financial Services increased its Sandisk stake by 86.5% in the first quarter, adding 13,940 shares to bring its total holdings to 30,049 shares worth about $19.1 million.
• Several other major institutional investors also raised their positions in Sandisk, while analysts turned notably bullish with multiple price target increases and a consensus rating of Moderate Buy.
• Sandisk reported a strong quarterly earnings beat, posting $23.41 EPS versus expectations of $14.17, and the company’s outlook remains tied to robust demand for AI-related storage products heading into its next earnings report.

PNC Financial Services Group Inc. boosted its holdings in shares of Sandisk Corporation (NASDAQ:SNDK - Free Report) by 86.5% in the first quarter, according to its most recent filing with the SEC. The firm owned 30,049 shares of the data storage provider's stock after acquiring an additional 13,940 shares during the period. PNC Financial Services Group Inc.'s holdings in Sandisk were worth $19,091,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. State Street Corp boosted its position in shares of Sandisk by 20.7% in 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 purchasing an additional 904,933 shares during the last quarter. Geode Capital Management LLC increased its holdings 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 purchasing an additional 1,133,276 shares during the last quarter. Arrowstreet Capital Limited Partnership lifted 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 buying an additional 828,332 shares during the period. Morgan Stanley lifted its stake in Sandisk by 7.2% in the fourth quarter. Morgan Stanley now owns 2,970,361 shares of the data storage provider's stock valued at $705,105,000 after buying an additional 199,545 shares during the period. Finally, Norges Bank bought a new position in Sandisk during the fourth quarter worth about $518,889,000.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Wells Fargo & Company boosted their target price on Sandisk from $1,250.00 to $1,620.00 and gave the stock an "equal weight" rating in a research report on Wednesday. Morgan Stanley raised their price objective on Sandisk from $1,100.00 to $1,750.00 and gave the stock an "overweight" rating in a research note on Wednesday, June 3rd. Barclays upgraded Sandisk from an "equal weight" rating to an "overweight" rating and lifted their price objective for the company from $1,200.00 to $2,300.00 in a report on Tuesday, May 26th. Wedbush lifted their price target on shares of Sandisk from $1,200.00 to $2,000.00 and gave the company an "outperform" rating in a research note on Thursday, July 9th. Finally, Sanford C. Bernstein upped their price target on shares of Sandisk from $1,700.00 to $3,000.00 and gave the company an "outperform" rating in a report on Monday, June 29th. Two analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat.com, Sandisk presently has a consensus rating of "Moderate Buy" and a consensus target price of $1,811.38.

Sandisk Stock Performance

NASDAQ:SNDK opened at $1,436.56 on Friday. The company has a market cap of $212.74 billion, a PE ratio of 49.93 and a beta of 4.74. Sandisk Corporation has a 52-week low of $40.10 and a 52-week high of $2,354.39. The stock has a 50-day simple moving average of $1,754.03 and a 200 day simple moving average of $1,087.24.

Sandisk (NASDAQ:SNDK - Get Free Report) last announced its earnings results on Thursday, April 30th. The data storage provider reported $23.41 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 in the prior year, the business posted ($0.30) EPS. The firm'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. On average, research analysts predict that Sandisk Corporation will post 64.52 earnings per share for the current fiscal year.

Insider Buying and Selling at Sandisk

In other Sandisk news, CAO Michael Pokorny sold 2,446 shares of Sandisk stock in a transaction on Tuesday, May 12th. The shares were sold at an average price of $1,426.18, for a total value of $3,488,436.28. Following the sale, the chief accounting officer directly owned 22,375 shares in the company, valued at approximately $31,910,777.50. The trade was a 9.85% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Bernard Shek sold 600 shares of the company's stock in a transaction dated Wednesday, July 1st. The stock was sold at an average price of $2,088.00, for a total value of $1,252,800.00. Following the sale, the insider owned 31,515 shares in the company, valued at $65,803,320. The trade was a 1.87% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 6,225 shares of company stock worth $10,166,297 in the last three months. 0.21% of the stock is currently owned by company insiders.

Sandisk News Roundup

Here are the key news stories impacting Sandisk this week:

• Positive Sentiment: SanDisk remains a major AI-storage beneficiary, with multiple recent articles highlighting strong demand for memory and enterprise storage tied to AI infrastructure spending and tight supply. Article Title
• Positive Sentiment: Analysts and traders are still focused on SanDisk’s upcoming fiscal Q4 earnings on August 5, with expectations for a large move and a chance for another earnings beat after a strong surprise history. Article Title
• Neutral Sentiment: New ETF products are being launched to trade the DRAM and memory rally, underscoring strong investor interest in the group, though this is more a sentiment signal than a direct catalyst for SanDisk. Article Title
• Neutral Sentiment: Options traders are pricing in a sizable post-earnings swing, reflecting elevated expectations and uncertainty heading into the report. Article Title
• Negative Sentiment: Memory and chip stocks are under pressure today, and SanDisk is being dragged lower by a sector-wide risk-off move after recent gains in AI-related semiconductors. Article Title
• Negative Sentiment: SanDisk has also pulled back sharply from recent highs, and some coverage now frames the move as a correction after an extended AI-driven rally. Article Title

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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