Swedbank AB Takes $20.56 Million Position in Sandisk Corporation $SNDK

Key Points

• Swedbank AB disclosed a new first-quarter position in Sandisk, buying 32,361 shares valued at about $20.56 million.
• Sandisk has been getting a wave of positive attention, including reports of a multi-year NAND supply deal with Meta and multiple analyst price-target hikes, such as Wedbush raising its target to $2,000.
• The stock has been volatile but is trading higher, with shares up 7.6% in the report and investors watching upcoming catalysts, including fiscal Q4/full-year results on August 5 and an Investor Day on August 13.

Swedbank AB bought a new position in shares of Sandisk Corporation (NASDAQ:SNDK - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 32,361 shares of the data storage provider's stock, valued at approximately $20,560,000.

A number of other large investors have also recently bought and sold shares of the stock. Walser Wealth Management Company A Ltd Liability Co acquired a new position in Sandisk during the first quarter worth $296,000. Kathmere Capital Management LLC bought a new stake in shares of Sandisk in the 1st quarter worth about $282,000. Abel Hall LLC bought a new stake in shares of Sandisk in the 1st quarter worth about $336,000. Whittier Trust Co. increased its position in shares of Sandisk by 107.2% during the 1st quarter. Whittier Trust Co. now owns 230 shares of the data storage provider's stock worth $146,000 after purchasing an additional 119 shares in the last quarter. Finally, Fortune 45 LLC acquired a new stake in shares of Sandisk during the 1st quarter worth about $268,000.

Sandisk News Summary

Here are the key news stories impacting Sandisk this week:

• Positive Sentiment: SanDisk shares rallied after reports that Meta signed a multi-year NAND flash supply agreement, adding credibility to the company’s AI infrastructure growth story and signaling stronger demand for its storage products. SanDisk (SNDK) Shares Spike 10% on Multi-Year Meta Storage Partnership
• Positive Sentiment: Wedbush raised its price target on Sandisk to $2,000 from $1,200 ahead of fiscal Q4 results, reflecting expectations for strong earnings and sales driven by tight NAND supply and improving demand. SanDisk set for earnings upside as Wedbush lifts price target
• Positive Sentiment: Memory and storage stocks, including Sandisk, rebounded sharply after earlier weakness tied to Samsung-led sector selling, suggesting investors are buying the dip in the group. Micron, SanDisk recover after Samsung-led selloff; fresh catalysts add to sentiment
• Neutral Sentiment: Sandisk announced it will report fiscal Q4 and full-year 2026 results on August 5 and hold an Investor Day on August 13, which keeps attention on upcoming execution and guidance but does not change fundamentals by itself. Sandisk to Report Fiscal Fourth Quarter and Fiscal Year 2026 Results on August 5, 2026; Announces Investor Day on August 13, 2026
• Negative Sentiment: Some articles warned that the memory sector remains volatile and that Chinese domestic memory makers could pressure established vendors like Sandisk over time, which may limit upside if the rally fades. SanDisk and Micron Risk Profit Squeeze from Chinese Memory Threat

Sandisk Trading Up 7.6%

SNDK opened at $1,858.27 on Friday. The stock has a market capitalization of $275.19 billion, a PE ratio of 64.59 and a beta of 4.74. Sandisk Corporation has a 1-year low of $40.10 and a 1-year high of $2,354.39. The firm has a 50-day moving average price of $1,709.27 and a two-hundred day moving average price of $990.08.

Sandisk (NASDAQ:SNDK - Get Free Report) last announced its earnings results on Thursday, April 30th. The data storage provider reported $23.41 earnings per share for the quarter, topping analysts' consensus estimates of $14.17 by $9.24. Sandisk had a net margin of 34.19% and a return on equity of 44.06%. The company had revenue of $5.95 billion during the quarter. During the same period in the prior year, the firm posted ($0.30) earnings per share. The company's revenue was up 251.0% on a year-over-year basis. Sandisk has set its Q4 2026 guidance at 30.000-33.000 EPS. On average, research analysts predict that Sandisk Corporation will post 64.01 EPS for the current year.

Analyst Ratings Changes

A number of equities analysts have commented on SNDK shares. Wells Fargo & Company boosted their price target on shares of Sandisk from $975.00 to $1,250.00 and gave the company an "equal weight" rating in a research report on Friday, May 1st. Weiss Ratings raised shares of Sandisk from a "hold (c+)" rating to a "buy (b-)" rating in a report on Monday. Sanford C. Bernstein lifted their target price on shares of Sandisk from $1,700.00 to $3,000.00 and gave the company an "outperform" rating in a research note on Monday, June 29th. Barclays raised Sandisk from an "equal weight" rating to an "overweight" rating and boosted their target price for the stock from $1,200.00 to $2,300.00 in a report on Tuesday, May 26th. Finally, Morgan Stanley increased their price target on Sandisk from $1,100.00 to $1,750.00 and gave the stock an "overweight" rating in a research report on Wednesday, June 3rd. Two equities research 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, the stock has an average rating of "Moderate Buy" and an average price target of $1,684.24.

Insider Activity at Sandisk

In other Sandisk news, EVP Alper Ilkbahar sold 2,000 shares of the 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 directly owned 52,677 shares in the company, valued at approximately $92,531,364.66. This trade represents a 3.66% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Necip Sayiner sold 579 shares of Sandisk stock in a transaction on Friday, May 8th. The shares were 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 $4,359,019. This trade represents a 16.64% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 6,225 shares of company stock worth $10,166,297. Company insiders own 0.21% of the company's stock.

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.

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.