Sandisk Corporation $SNDK Stake Boosted by Hollencrest Capital Management

Key Points

• Hollencrest Capital Management increased its SanDisk stake by 68.6% in the first quarter, buying 985 more shares and bringing its total holding to 2,420 shares valued at about $1.54 million.
• SanDisk continues to attract major institutional interest, with firms like State Street, Geode Capital, Arrowstreet, Morgan Stanley, and Norges Bank also boosting or initiating large positions.
• The company reported a strong quarter, with EPS of $23.41 beating estimates by a wide margin and revenue rising 251% year over year; analysts still broadly rate the stock a Moderate Buy despite recent volatility.

Hollencrest Capital Management lifted its stake in Sandisk Corporation (NASDAQ:SNDK - Free Report) by 68.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,420 shares of the data storage provider's stock after acquiring an additional 985 shares during the quarter. Hollencrest Capital Management's holdings in Sandisk were worth $1,538,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the company. State Street Corp grew its stake in Sandisk by 20.7% in the fourth 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 in the last quarter. Geode Capital Management LLC raised its stake in shares of Sandisk by 44.9% during 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 in the last quarter. Arrowstreet Capital Limited Partnership raised its stake in shares of Sandisk by 31.3% during 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 in the last quarter. Morgan Stanley lifted its holdings in shares of Sandisk by 7.2% during the 4th 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 last quarter. Finally, Norges Bank acquired a new stake in shares of Sandisk during the 4th quarter valued at about $518,889,000.

Sandisk Stock Performance

Shares of NASDAQ:SNDK opened at $1,354.38 on Monday. The stock's 50-day moving average is $1,746.25 and its 200-day moving average is $1,048.16. The company has a market cap of $200.57 billion, a P/E ratio of 47.08 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.

Sandisk (NASDAQ:SNDK - Get Free Report) last posted its quarterly earnings data on Thursday, April 30th. The data storage provider reported $23.41 earnings per share for the quarter, topping the consensus estimate of $14.17 by $9.24. The business 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%.Sandisk's revenue for the quarter was up 251.0% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.30) EPS. Sandisk has set its Q4 2026 guidance at 30.000-33.000 EPS. As a group, equities analysts predict that Sandisk Corporation will post 64.52 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. Morgan Stanley increased their price objective on Sandisk from $1,100.00 to $1,750.00 and gave the stock an "overweight" rating in a report on Wednesday, June 3rd. Wells Fargo & Company lifted their target price on shares of Sandisk from $975.00 to $1,250.00 and gave the company an "equal weight" rating in a research note on Friday, May 1st. Zacks Research downgraded shares of Sandisk from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, July 1st. Jefferies Financial Group restated a "buy" rating and set a $1,400.00 price target on shares of Sandisk in a research note on Friday, May 1st. Finally, Arete Research upgraded shares of Sandisk from a "hold" rating to a "strong-buy" rating in a report on Monday, April 13th. Two research analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $1,803.29.

Sandisk News Summary

Here are the key news stories impacting Sandisk this week:

• Positive Sentiment: Despite the pullback, several recent pieces remain constructive on Sandisk’s long-term setup, pointing to strong demand from AI infrastructure and tighter memory supply conditions that could support revenue and margins. Article Title
• Positive Sentiment: Sandisk’s valuation has come down sharply from recent highs, with some investors and analysts arguing the selloff may have made the stock more attractive relative to its growth outlook. Article Title
• Neutral Sentiment: Sandisk also announced progress on its Fab2 project with Kioxia and said BiCS10 sampling has begun, a development that supports its product roadmap but is not an immediate earnings catalyst. Article Title
• Negative Sentiment: Technical damage has intensified after the stock broke key support levels, with chart watchers citing a sharp drop from recent peaks and warning that momentum has turned decisively lower ahead of the next earnings report. Article Title
• Negative Sentiment: Sector-wide weakness, including concerns about Chinese competition and a broad AI-chip rotation, has added to the selloff in memory stocks such as Sandisk. Article Title

Insiders Place Their Bets

In other news, Director Necip Sayiner sold 579 shares of the stock in a transaction that occurred on Friday, May 8th. The stock was sold at an average price of $1,503.11, for a total value of $870,300.69. Following the completion of the sale, the director directly owned 2,900 shares of the company's stock, valued at approximately $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 can be accessed through this hyperlink. Also, CAO Michael Pokorny sold 2,446 shares of the stock in a transaction that occurred 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 completion of the sale, the chief accounting officer directly owned 22,375 shares of the company's stock, valued at $31,910,777.50. This represents a 9.85% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 6,225 shares of company stock valued at $10,166,297 in the last three months. 0.21% of the stock is owned by corporate insiders.

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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