State of Wyoming Sells 1,976 Shares of Sandisk Corporation $SNDK

Key Points

• State of Wyoming cut its Sandisk stake by 22% in the fourth quarter, selling 1,976 shares and leaving it with 7,002 shares valued at about $1.66 million.
• Sandisk is benefiting from strong AI-driven demand and rising memory prices, with several recent reports describing it as a favored name in the AI-memory trade and noting the stock has been hitting record highs.
• Analysts remain broadly bullish on Sandisk: the stock has multiple Buy/Strong Buy ratings and an average target price of about $1,398, while the company also reported a strong earnings beat and raised guidance.

State of Wyoming lessened its stake in shares of Sandisk Corporation (NASDAQ:SNDK - Free Report) by 22.0% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 7,002 shares of the data storage provider's stock after selling 1,976 shares during the quarter. State of Wyoming's holdings in Sandisk were worth $1,662,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Vanguard Group Inc. bought a new stake in shares of Sandisk during the third quarter worth $1,970,388,000. State Street Corp bought a new stake in shares of Sandisk during the third quarter worth $491,053,000. Geode Capital Management LLC grew its stake in shares of Sandisk by 44.9% during the fourth quarter. Geode Capital Management LLC now owns 3,655,860 shares of the data storage provider's stock worth $866,310,000 after buying an additional 1,133,276 shares during the last quarter. Arrowstreet Capital Limited Partnership bought a new stake in shares of Sandisk in the third quarter worth $297,293,000. Finally, Norges Bank bought a new stake in shares of Sandisk in the fourth quarter worth $518,889,000.

Key Sandisk News

Here are the key news stories impacting Sandisk this week:

• Positive Sentiment: Analysts at Morgan Stanley said the memory-stock rally may not be over, citing strong AI demand and rising memory prices as reasons Sandisk could see further upside. Morgan Stanley says there is no quick fix to memory shortage
• Positive Sentiment: Several articles highlighted Sandisk as a favorite in the AI-memory trade, with commentators arguing the company is still benefiting from a powerful supply-demand mismatch and strong trader interest. Traders are flocking to Sandisk
• Positive Sentiment: A new article said Sandisk stock is soaring to another all-time high, reinforcing the momentum-driven bullish sentiment around the shares. Why SanDisk Stock Is Soaring to a New All-Time High Today
• Positive Sentiment: Zacks said industry momentum in cloud, IoT, auto, and AI should support storage-device names like Sandisk, adding another constructive fundamental backdrop. 3 Storage Devices Stocks to Buy as the Industry Gains Momentum
• Neutral Sentiment: Sandisk EVP Alper Ilkbahar sold 2,000 shares for about $3.5 million. The sale is worth noting, but it appears relatively modest versus his remaining stake and may not signal a major change in outlook. SEC filing
• Negative Sentiment: One report flagged Sandisk’s stock and short interest at record highs, suggesting the rally is crowded and could become more volatile if sentiment cools. SanDisk's stock and short interest both at record highs - do the bears know something?

Insider Activity at Sandisk

In related news, EVP Alper Ilkbahar sold 2,000 shares of the business'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 transaction, the executive vice president owned 52,677 shares in the company, valued at $92,531,364.66. The trade was a 3.66% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Michael Pokorny sold 2,446 shares of the company's stock in a transaction dated Tuesday, May 12th. The shares were sold at an average price of $1,426.18, for a total transaction of $3,488,436.28. Following the transaction, the chief accounting officer owned 22,375 shares in the company, valued at $31,910,777.50. This represents a 9.85% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 5,025 shares of company stock worth $7,871,897 over the last quarter. Company insiders own 0.21% of the company's stock.

Analyst Ratings Changes

Several analysts recently weighed in on the stock. UBS Group set a $1,700.00 price objective on shares of Sandisk in a research note on Monday, May 4th. Royal Bank Of Canada boosted their price objective on shares of Sandisk from $650.00 to $1,000.00 and gave the stock a "sector perform" rating in a research note on Friday, May 1st. Arete Research raised shares of Sandisk from a "hold" rating to a "strong-buy" rating in a research note on Monday, April 13th. Raymond James Financial reissued an "outperform" rating and issued a $1,470.00 price objective on shares of Sandisk in a research note on Friday, May 1st. Finally, The Goldman Sachs Group restated a "buy" rating and issued a $1,200.00 target price on shares of Sandisk in a report on Friday, May 1st. Three analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating and three have given a Hold rating to the company. According to MarketBeat, Sandisk has an average rating of "Buy" and an average target price of $1,398.27.

Sandisk Stock Up 6.7%

SNDK stock opened at $1,831.50 on Thursday. The firm has a market cap of $271.23 billion, a price-to-earnings ratio of 63.66 and a beta of 4.87. Sandisk Corporation has a 12-month low of $37.33 and a 12-month high of $1,861.00. The company's fifty day simple moving average is $1,135.85 and its 200 day simple moving average is $679.14.

Sandisk (NASDAQ:SNDK - Get Free Report) last released its earnings results on Thursday, April 30th. The data storage provider reported $23.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $14.17 by $9.24. The business 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 quarterly revenue was up 251.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.30) EPS. Sandisk has set its Q4 2026 guidance at 30.000-33.000 EPS. Research analysts expect that Sandisk Corporation will post 63.58 earnings per share for the current 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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