Sandisk Corporation $SNDK Holdings Boosted by Principal Financial Group Inc.

Key Points

• Principal Financial Group increased its Sandisk stake by 8.4% in the first quarter, adding 12,868 shares and bringing its total holding to 166,374 shares worth about $105.7 million.
• Sandisk’s recent operating results were very strong: the company reported $23.41 EPS on $5.95 billion of revenue, handily beating estimates, while revenue jumped 251% year over year.
• Wall Street sentiment is mixed but still constructive, with several analysts raising price targets and the consensus remaining a Moderate Buy, though some firms have turned more cautious after the stock’s big rally.

Principal Financial Group Inc. raised its position in shares of Sandisk Corporation (NASDAQ:SNDK - Free Report) by 8.4% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 166,374 shares of the data storage provider's stock after purchasing an additional 12,868 shares during the quarter. Principal Financial Group Inc. owned 0.11% of Sandisk worth $105,704,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the business. Cedar Mountain Advisors LLC grew its holdings in shares of Sandisk by 2,750.0% during the first quarter. Cedar Mountain Advisors LLC now owns 57 shares of the data storage provider's stock valued at $36,000 after buying an additional 55 shares in the last quarter. Roble Belko & Company Inc purchased a new stake in Sandisk in the 1st quarter worth about $39,000. First United Bank & Trust purchased a new stake in Sandisk in the 1st quarter worth about $54,000. Ascentis Independent Advisors acquired a new stake in Sandisk during the 1st quarter worth about $59,000. Finally, Indiana Trust & Investment Management Co acquired a new stake in Sandisk during the 1st quarter worth about $64,000.

More Sandisk News

Here are the key news stories impacting Sandisk this week:

• Positive Sentiment: Analysts remain bullish despite the pullback, with Wedbush, BofA and Bernstein lifting price targets and some commentary arguing the AI memory boom still has room to run. Wedbush Pounds the Table—Buy Sandisk Before August 5 Earnings
• Positive Sentiment: Several articles highlight strong recent earnings, improving memory pricing and AI-driven demand as reasons investors still see upside ahead of SanDisk’s Aug. 5 earnings report. What's Going on With Sandisk Stock Wednesday?
• Neutral Sentiment: Argus initiated coverage with a Hold, saying the stock has already had a big post-spin-off rally and that investors may need either a pullback or clearer earnings acceleration before paying up again. Analyst Maintains Hold on SanDisk After Post–Spin-Off Rally
• Negative Sentiment: Profit-taking is hitting the entire memory complex, and SanDisk is being sold alongside Micron, Western Digital and SK Hynix as traders lock in gains after a steep multi-month rally. Dell, Micron, SanDisk tumble as AI hardware rally hits reversal
• Negative Sentiment: More cautious commentary says the best part of the rally could be over, with some investors worrying that the stock’s valuation and momentum have outrun fundamentals for now. Sandisk: The Best Part Of The Rally Could Be Over

Insider Buying and Selling at Sandisk

In related news, EVP Alper Ilkbahar sold 2,000 shares of the company's stock in a transaction 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 sale, the executive vice president directly owned 52,677 shares in the company, valued at approximately $92,531,364.66. This represents a 3.66% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Bernard Shek sold 600 shares of the company's stock in a transaction on Wednesday, July 1st. The stock was sold at an average price of $2,088.00, for a total transaction of $1,252,800.00. Following the completion of the sale, the insider owned 31,515 shares of the company's stock, valued at $65,803,320. This represents a 1.87% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 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 90 days. 0.21% of the stock is currently owned by company insiders.

Sandisk Stock Performance

Shares of NASDAQ SNDK opened at $1,615.00 on Thursday. The business has a 50 day simple moving average of $1,748.98 and a 200 day simple moving average of $1,032.16. Sandisk Corporation has a 52 week low of $40.10 and a 52 week high of $2,354.39. The stock has a market cap of $239.17 billion, a price-to-earnings ratio of 56.13 and a beta of 4.74.

Sandisk (NASDAQ:SNDK - Get Free Report) last issued its quarterly earnings data on Thursday, April 30th. The data storage provider reported $23.41 earnings per share for the quarter, beating the consensus estimate of $14.17 by $9.24. The firm had revenue of $5.95 billion for the quarter. Sandisk had a net margin of 34.19% and a return on equity of 44.06%. Sandisk's revenue was up 251.0% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.30) EPS. Sandisk has set its Q4 2026 guidance at 30.000-33.000 EPS. On average, analysts predict that Sandisk Corporation will post 64.95 EPS for the current year.

Wall Street Analysts Forecast Growth

SNDK has been the topic of a number of research reports. Zacks Research downgraded Sandisk from a "strong-buy" rating to a "hold" rating in a report on Wednesday, July 1st. Weiss Ratings upgraded shares of Sandisk from a "hold (c+)" rating to a "buy (b-)" rating in a report on Monday, July 6th. Mizuho boosted their price objective on shares of Sandisk from $1,825.00 to $2,200.00 and gave the company an "outperform" rating in a research report on Monday, June 8th. UBS Group set a $1,700.00 price objective on shares of Sandisk in a research note on Monday, May 4th. Finally, Royal Bank Of Canada increased their target price on shares of Sandisk from $650.00 to $1,000.00 and gave the stock a "sector perform" rating in a research report on Friday, May 1st. Two research analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and five have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $1,803.29.

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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