Sumitomo Mitsui Trust Group Inc. Purchases 23,167 Shares of Sandisk Corporation $SNDK

Key Points

• Sumitomo Mitsui Trust Group increased its stake in SanDisk by 134.2% in the first quarter, buying 23,167 additional shares and bringing its total holdings to 40,436 shares worth about $25.7 million.
• Analysts remain broadly bullish on SanDisk, with firms like Evercore ISI and Goldman Sachs raising price targets, while MarketBeat data shows a consensus rating of Moderate Buy and an average target price of $1,765.19.
• SanDisk has also posted strong operating results, including quarterly EPS of $23.41 that beat estimates, revenue up 251% year over year, and guidance for Q4 2026 EPS of 30.0 to 33.0.

Sumitomo Mitsui Trust Group Inc. boosted its position in shares of Sandisk Corporation (NASDAQ:SNDK - Free Report) by 134.2% during the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 40,436 shares of the data storage provider's stock after purchasing an additional 23,167 shares during the quarter. Sumitomo Mitsui Trust Group Inc.'s holdings in Sandisk were worth $25,691,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Resona Asset Management Co. Ltd. raised its holdings in Sandisk by 13.0% in the first quarter. Resona Asset Management Co. Ltd. now owns 1,984 shares of the data storage provider's stock worth $1,261,000 after buying an additional 228 shares during the last quarter. Mitsubishi UFJ Morgan Stanley Securities Co. Ltd. bought a new stake in shares of Sandisk during the first quarter valued at approximately $329,000. Capstone Capital Management Ltd bought a new stake in shares of Sandisk during the first quarter valued at approximately $3,978,000. Oregon Public Employees Retirement Fund increased its position in shares of Sandisk by 6.3% during the first quarter. Oregon Public Employees Retirement Fund now owns 16,901 shares of the data storage provider's stock valued at $10,738,000 after acquiring an additional 1,001 shares in the last quarter. Finally, Frank Rimerman Advisors LLC purchased a new position in Sandisk in the 1st quarter worth approximately $1,107,000.

Sandisk News Roundup

Here are the key news stories impacting Sandisk this week:

• Positive Sentiment: Evercore ISI raised its price target on SanDisk to $3,100 and kept an Outperform rating, reinforcing the view that the company still has significant upside. SanDisk Stock Price Forecast: Why Evercore’s Amit Daryanani Raised SNDK’s Price Target by More Than 120%
• Positive Sentiment: Goldman Sachs also nearly doubled its SanDisk price target, adding to the bullish analyst sentiment around the stock. Goldman Sachs nearly doubles SanDisk stock price target for 2026
• Positive Sentiment: SanDisk was added to Zacks’ Rank #1 (Strong Buy) momentum list, and another Zacks piece said it still screens as cheap despite its huge year-to-date rally, which may attract value and momentum buyers. Best Momentum Stocks to Buy for July 13th
• Positive Sentiment: Commentary from strategists and analysts suggested the recent tech pullback could be a buying opportunity for SanDisk, with continued confidence in AI-driven demand and long-term storage growth. This Strategist Says the Tech Wreck Is Your Buy Signal: Micron and SanDisk on Sale?
• Neutral Sentiment: Several market updates focused on broader macro and pre-market weakness, including a red futures session and upcoming inflation data, which added to risk-off trading across tech stocks. Pre-Market in Red
• Negative Sentiment: SK Hynix’s weak outlook sparked a sector-wide selloff in memory names such as SanDisk, Micron, and Western Digital, weighing on SNDK shares today. Micron, SanDisk, Western Digital Fall 6% as SK Hynix's Weak Outlook Rattles Memory Stocks

Analysts Set New Price Targets

Several analysts have commented on the company. Weiss Ratings upgraded Sandisk from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Monday, July 6th. Morgan Stanley upped their price target on Sandisk from $1,100.00 to $1,750.00 and gave the company an "overweight" rating in a report on Wednesday, June 3rd. Melius Research set a $2,350.00 price objective on Sandisk in a research report on Monday, May 18th. Wedbush increased their price objective on Sandisk from $740.00 to $1,200.00 and gave the company an "outperform" rating in a research report on Wednesday, April 29th. Finally, Cantor Fitzgerald lifted their price objective on Sandisk from $1,800.00 to $2,900.00 and gave the stock an "overweight" rating in a report on Monday, June 8th. Two investment analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $1,765.19.

Insider Buying and Selling at Sandisk

In other news, insider Bernard Shek sold 600 shares of the company's stock in a transaction dated Wednesday, July 1st. The shares were 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, 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 transaction of $870,300.69. Following the completion of the transaction, the director owned 2,900 shares in the company, valued at $4,359,019. This trade represents a 16.64% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 6,225 shares of company stock worth $10,166,297 over the last 90 days. 0.21% of the stock is owned by company insiders.

Sandisk Price Performance

Shares of SNDK opened at $1,673.97 on Tuesday. Sandisk Corporation has a one year low of $40.10 and a one year high of $2,354.39. The firm has a market capitalization of $247.90 billion, a P/E ratio of 58.18 and a beta of 4.74. The business has a fifty day moving average of $1,737.85 and a 200 day moving average of $1,011.93.

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 analysts' consensus estimates 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%.The firm's revenue was up 251.0% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.30) EPS. Sandisk has set its Q4 2026 guidance at 30.000-33.000 EPS. Analysts expect that Sandisk Corporation will post 64.95 EPS 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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