Sandisk Corporation $SNDK Shares Acquired by State of Michigan Retirement System

Key Points

• State of Michigan Retirement System increased its Sandisk stake by 6.0% in the first quarter, buying 2,200 more shares and ending with 38,601 shares valued at about $24.5 million.
• Sandisk has attracted bullish analyst attention ahead of its August 5 earnings report, with firms like Wedbush, Evercore, and Sanford C. Bernstein raising targets on expectations for strong memory pricing, AI-driven demand, and earnings upside.
• The stock has also seen recent volatility: insiders sold shares over the past 90 days, and Sandisk fell alongside other memory stocks after SK Hynix issued a weaker outlook, though the company’s latest quarter showed a major earnings and revenue beat.

State of Michigan Retirement System boosted its position in shares of Sandisk Corporation (NASDAQ:SNDK - Free Report) by 6.0% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 38,601 shares of the data storage provider's stock after buying an additional 2,200 shares during the quarter. State of Michigan Retirement System's holdings in Sandisk were worth $24,525,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Osaic Holdings Inc. purchased a new stake in shares of Sandisk during the 2nd quarter worth about $317,000. Merit Financial Group LLC acquired a new position in Sandisk in the 3rd quarter worth about $408,000. Dimensional Fund Advisors LP acquired a new position in Sandisk in the 3rd quarter worth about $100,080,000. First Trust Advisors LP purchased a new position in Sandisk during the third quarter worth approximately $9,788,000. Finally, Blair William & Co. IL purchased a new position in Sandisk during the third quarter worth approximately $591,000.

Key Headlines Impacting Sandisk

Here are the key news stories impacting Sandisk this week:

• Positive Sentiment: Wedbush and Evercore both turned more bullish on SanDisk (SNDK), with price targets lifted sharply ahead of the August 5 earnings report; analysts cited strong memory pricing, robust AI demand, and upside to revenue and earnings. Article: Wedbush Pounds the Table—Buy Sandisk Before August 5 Earnings
• Positive Sentiment: Several reports said memory stocks, including SanDisk, look attractive after the recent selloff because AI-driven demand remains strong and valuations have improved. Article: Why You Must Buy These 4 Memory Stocks After the Recent Sell-Off
• Positive Sentiment: SNDK was added to a Zacks Rank #1 momentum list and highlighted as a “buy the dip” name, reinforcing the idea that some investors see the pullback as a buying opportunity. Article: Best Momentum Stocks to Buy for July 13th
• Positive Sentiment: Commentary around AI inference and the storage market suggested SanDisk could remain a beneficiary of the AI memory supercycle, which supports the longer-term bullish narrative. Article: Sandisk: How It Wins From The AI Inference Trend
• Neutral Sentiment: Market commentary focused on whether the recent AI memory boom has more room to run, but these pieces were mainly discussion-oriented rather than new company-specific catalysts. Article: Price Prediction: From $40 to $2,000 in a Year. Where is SanDisk Headed Now?
• Negative Sentiment: SanDisk fell with other memory and semiconductor names after SK Hynix issued a weaker outlook, triggering worries that the AI memory trade may be cooling and pressuring the whole group. Article: Micron, SanDisk, Western Digital Fall 6% as SK Hynix's Weak Outlook Rattles Memory Stocks
• Negative Sentiment: Broader market weakness and risk-off trading, including renewed geopolitical tension and tech-sector selling, added to the downward pressure on SNDK. Article: Why Is Sandisk Stock Falling Monday?
• Negative Sentiment: Some headlines noted that SanDisk has dropped sharply over the past two weeks, suggesting traders are taking profits after an enormous year-to-date rally. Article: SanDisk drops 20% in two weeks: What's next for the stock?

Insider Activity at Sandisk

In other Sandisk news, Director Necip Sayiner sold 579 shares of the company's stock in a transaction 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 transaction, 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 document filed 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 on Monday, June 1st. The stock was sold at an average price of $1,756.58, for a total value of $3,513,160.00. Following the transaction, the executive vice president owned 52,677 shares of the company's stock, valued at approximately $92,531,364.66. This represents a 3.66% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 6,225 shares of company stock worth $10,166,297. Company insiders own 0.21% of the company's stock.

Sandisk Stock Up 5.0%

Shares of Sandisk stock opened at $1,757.82 on Wednesday. Sandisk Corporation has a 52 week low of $40.10 and a 52 week high of $2,354.39. The business's fifty day simple moving average is $1,744.88 and its 200-day simple moving average is $1,022.55. The firm has a market cap of $260.32 billion, a PE ratio of 61.10 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 (EPS) for the quarter, topping analysts' consensus estimates of $14.17 by $9.24. The firm had revenue of $5.95 billion during the quarter. Sandisk had a return on equity of 44.06% and a net margin of 34.19%.The firm's revenue for the quarter was up 251.0% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.30) earnings per share. Sandisk has set its Q4 2026 guidance at 30.000-33.000 EPS. As a group, equities analysts expect that Sandisk Corporation will post 64.95 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on SNDK shares. KGI Securities initiated coverage on Sandisk in a report on Wednesday, March 18th. They issued an "outperform" rating and a $992.00 price objective on the stock. Sanford C. Bernstein boosted their target price on Sandisk from $1,700.00 to $3,000.00 and gave the stock an "outperform" rating in a report on Monday, June 29th. UBS Group set a $1,700.00 price target on Sandisk in a research report on Monday, May 4th. Mizuho increased their price target on Sandisk from $1,825.00 to $2,200.00 and gave the company an "outperform" rating in a report on Monday, June 8th. Finally, Jefferies Financial Group reaffirmed a "buy" rating and issued a $1,400.00 target price on shares of Sandisk in a research note on Friday, May 1st. Two analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating and four have given a Hold rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $1,803.29.

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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