Sandisk Corporation $SNDK Holdings Cut by Bank of America Corp DE

Key Points

• Bank of America cut its Sandisk stake by 39.2% in the first quarter, selling 645,323 shares and retaining 999,802 shares worth approximately $635.2 million. Other major institutions, including State Street, Geode Capital and Arrowstreet, increased their positions.
• Insiders sold 6,225 Sandisk shares worth $10.2 million in the last quarter. Meanwhile, analysts remain broadly bullish, with a consensus “Moderate Buy” rating and an average price target of $1,811.38.
• Sandisk reported strong operating momentum, including quarterly revenue growth of 251% year over year and earnings of $23.41 per share versus the $14.17 consensus estimate. Shares opened down 5.1% at $1,214.83 amid concerns about Chinese competition, valuation and volatility in memory stocks.

Bank of America Corp DE trimmed its position in shares of Sandisk Corporation (NASDAQ:SNDK - Free Report) by 39.2% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 999,802 shares of the data storage provider's stock after selling 645,323 shares during the period. Bank of America Corp DE owned 0.68% of Sandisk worth $635,214,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. State Street Corp increased its position 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 valued at $1,253,728,000 after purchasing an additional 904,933 shares during the period. Geode Capital Management LLC boosted its stake in Sandisk by 44.9% in the 4th quarter. Geode Capital Management LLC now owns 3,655,860 shares of the data storage provider's stock worth $866,310,000 after purchasing an additional 1,133,276 shares during the period. Arrowstreet Capital Limited Partnership boosted its stake in Sandisk by 31.3% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 3,478,002 shares of the data storage provider's stock worth $825,608,000 after purchasing an additional 828,332 shares during the period. Morgan Stanley grew its position in Sandisk by 7.2% during the 4th quarter. Morgan Stanley now owns 2,970,361 shares of the data storage provider's stock worth $705,105,000 after purchasing an additional 199,545 shares in the last quarter. Finally, Norges Bank purchased a new position in Sandisk during the 4th quarter worth approximately $518,889,000.

Insider Activity

In other Sandisk news, Director Necip Sayiner sold 579 shares of the company's stock in a transaction dated Friday, May 8th. The shares were sold at an average price of $1,503.11, for a total transaction of $870,300.69. Following the completion of the sale, the director directly owned 2,900 shares in the company, valued at $4,359,019. This represents a 16.64% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Alper Ilkbahar sold 2,000 shares of the firm's stock in a transaction dated 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 SEC filing for this sale provides additional information. Insiders sold a total of 6,225 shares of company stock valued at $10,166,297 in the last quarter. 0.21% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the company. Wedbush increased their price objective on Sandisk from $1,200.00 to $2,000.00 and gave the stock an "outperform" rating in a research note on Thursday, July 9th. Argus initiated coverage on shares of Sandisk in a research note on Wednesday, July 15th. They issued a "hold" rating on the stock. Susquehanna cut their target price on shares of Sandisk from $3,250.00 to $3,050.00 and set a "positive" rating for the company in a research report on Thursday, July 23rd. Barclays raised shares of Sandisk from an "equal weight" rating to an "overweight" rating and lifted their target price for the company from $1,200.00 to $2,300.00 in a research note on Tuesday, May 26th. Finally, The Goldman Sachs Group reiterated a "buy" rating and set a $1,200.00 price objective on shares of Sandisk in a report on Friday, May 1st. Three research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $1,811.38.

Key Sandisk News

Here are the key news stories impacting Sandisk this week:

• Positive Sentiment: AI infrastructure spending remains a major potential growth driver. Analysts point to more than $750 billion in expected 2026 Big Tech capital expenditures, which could support demand for Sandisk’s enterprise storage and memory products. Buy 5 AI Infrastructure Stocks as Big Tech’s Assure Lasting AI Frenzy
• Positive Sentiment: Microsoft’s roughly $190 billion capital-spending commitment and strong AI-related results helped revive optimism about data-center demand. Samsung also reported a sharp increase in chip profit and expects memory shortages to persist into 2028, supporting the broader industry outlook. Why Memory Stocks Are Roaring Back
• Positive Sentiment: Several bullish analyses argue that AI inference and enterprise storage may structurally improve NAND demand. Sandisk has reportedly exceeded earnings and revenue expectations for five consecutive quarters, while analysts have continued raising estimates. Sandisk’s Biggest Opportunity Yet
• Neutral Sentiment: Options traders expect a significant move around the August 5 earnings release. The event could bring a sharp rebound if results and guidance confirm AI demand, but it also creates elevated downside risk if expectations are missed. SanDisk Q4 Earnings Options Outlook
• Negative Sentiment: Investors remain concerned that Chinese competition could intensify another NAND downturn. Some analysts also warn that the AI boom may moderate before 2029, making Sandisk’s elevated valuation and ambitious price targets vulnerable. Sandisk Stock Slides as Chinese Competition Rattles NAND Outlook
• Negative Sentiment: The rapid reversal in memory stocks and recent forced selling have weakened sentiment, with Sandisk’s technical indicators reaching deeply oversold levels. That may attract bargain hunters, but it also highlights how sharply expectations and momentum have deteriorated. Is the Sandisk Stock Crash Over?

Sandisk Trading Down 5.1%

Shares of NASDAQ:SNDK opened at $1,214.83 on Friday. The stock has a market capitalization of $179.90 billion, a PE ratio of 42.23 and a beta of 4.74. Sandisk Corporation has a 1 year low of $40.10 and a 1 year high of $2,354.39. The firm has a fifty day moving average price of $1,729.14 and a 200 day moving average price of $1,116.58.

Sandisk (NASDAQ:SNDK - Get Free Report) last posted its earnings results 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 company had revenue of $5.95 billion for the quarter. Sandisk had a return on equity of 44.06% and a net margin of 34.19%.Sandisk's quarterly revenue was up 251.0% on a year-over-year basis. During the same quarter last year, the business earned ($0.30) earnings per share. On average, sell-side analysts forecast that Sandisk Corporation will post 64.52 earnings per share for the current fiscal year.

Sandisk 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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