SummitTX Capital L.P. bought a new stake in Sandisk Corporation (NASDAQ:SNDK - Free Report) during the first quarter, according to its most recent disclosure with the SEC. The institutional investor bought 12,753 shares of the data storage provider's stock, valued at approximately $8,102,000.
Other hedge funds have also bought and sold shares of the company. State Street Corp acquired a new position in Sandisk during the third quarter worth approximately $491,053,000. Arrowstreet Capital Limited Partnership bought a new position in shares of Sandisk during the 3rd quarter worth approximately $297,293,000. Norges Bank acquired a new position in shares of Sandisk during the 4th quarter worth approximately $518,889,000. Bank of America Corp DE acquired a new position in shares of Sandisk during the 3rd quarter worth approximately $190,425,000. Finally, AQR Capital Management LLC bought a new stake in Sandisk in the 3rd quarter valued at $163,057,000.
Insider Activity
In related 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Michael Pokorny sold 2,446 shares of the stock in a transaction dated Tuesday, May 12th. The stock was sold at an average price of $1,426.18, for a total transaction of $3,488,436.28. Following the sale, the chief accounting officer owned 22,375 shares in the company, valued at $31,910,777.50. The trade was a 9.85% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 6,225 shares of company stock worth $10,166,297. 0.21% of the stock is owned by company insiders.
Wall Street Analysts Forecast Growth
Several equities research analysts have issued reports on the company. Mizuho raised 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. Susquehanna reduced 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 report on Thursday. Royal Bank Of Canada raised 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 report on Friday, May 1st. Citigroup upped their target price on Sandisk from $2,025.00 to $2,500.00 and gave the company a "buy" rating in a research report on Thursday, June 25th. Finally, Jefferies Financial Group reissued a "buy" rating and set a $1,400.00 price target on shares of Sandisk in a report on Friday, May 1st. Two equities research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat, Sandisk has an average rating of "Moderate Buy" and an average target price of $1,811.38.
Get Our Latest Stock Analysis on SNDK
Sandisk Stock Performance
Shares of SNDK opened at $1,436.56 on Monday. Sandisk Corporation has a 12 month low of $40.10 and a 12 month high of $2,354.39. The firm's 50 day moving average is $1,754.03 and its 200-day moving average is $1,092.96. The stock has a market capitalization of $212.74 billion, a PE ratio of 49.93 and a beta of 4.74.
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 for the quarter, beating 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 business's revenue was up 251.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.30) earnings per share. Sandisk has set its Q4 2026 guidance at 30.000-33.000 EPS. Equities research analysts predict that Sandisk Corporation will post 64.52 earnings per share for the current fiscal year.
More Sandisk News
Here are the key news stories impacting Sandisk this week:
- Positive Sentiment: SanDisk remains a major AI-storage beneficiary, with multiple recent articles highlighting strong demand for memory and enterprise storage tied to AI infrastructure spending and tight supply. Article Title
- Positive Sentiment: Analysts and traders are still focused on SanDisk’s upcoming fiscal Q4 earnings on August 5, with expectations for a large move and a chance for another earnings beat after a strong surprise history. Article Title
- Neutral Sentiment: New ETF products are being launched to trade the DRAM and memory rally, underscoring strong investor interest in the group, though this is more a sentiment signal than a direct catalyst for SanDisk. Article Title
- Neutral Sentiment: Options traders are pricing in a sizable post-earnings swing, reflecting elevated expectations and uncertainty heading into the report. Article Title
- Negative Sentiment: Memory and chip stocks are under pressure today, and SanDisk is being dragged lower by a sector-wide risk-off move after recent gains in AI-related semiconductors. Article Title
- Negative Sentiment: SanDisk has also pulled back sharply from recent highs, and some coverage now frames the move as a correction after an extended AI-driven rally. Article Title
Sandisk Profile
(
Free Report)
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.
Further Reading
Want to see what other hedge funds are holding SNDK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Sandisk Corporation (NASDAQ:SNDK - Free Report).
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.
Before you consider Sandisk, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Sandisk wasn't on the list.
While Sandisk currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
With the proliferation of data centers and electric vehicles, the electric grid will only get more strained. Download this report to learn how energy stocks can play a role in your portfolio as the global demand for energy continues to grow.
Get This Free Report
