Teachers Retirement System of The State of Kentucky Reduces Position in Sandisk Corporation $SNDK

Key Points

• Teachers Retirement System of The State of Kentucky cut its SanDisk stake by 8.3% in the first quarter, selling 1,000 shares and ending with 11,021 shares valued at about $7.0 million.
• Analysts remain broadly bullish on SNDK, with firms like Evercore ISI and Goldman Sachs raising price targets sharply; MarketBeat says the stock currently has a Moderate Buy consensus.
• Despite recent volatility and a 12.6% drop noted in the article, SanDisk posted a strong latest quarter with $23.41 EPS on $5.95 billion revenue, both far above expectations and up sharply year over year.

Teachers Retirement System of The State of Kentucky decreased its stake in shares of Sandisk Corporation (NASDAQ:SNDK - Free Report) by 8.3% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,021 shares of the data storage provider's stock after selling 1,000 shares during the quarter. Teachers Retirement System of The State of Kentucky's holdings in Sandisk were worth $7,002,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. State Street Corp purchased a new stake in shares of Sandisk during the third quarter valued at $491,053,000. Arrowstreet Capital Limited Partnership purchased a new position in Sandisk in the 3rd quarter worth $297,293,000. Norges Bank acquired a new stake in Sandisk during the 4th quarter worth about $518,889,000. Bank of America Corp DE acquired a new stake in Sandisk during the 3rd quarter worth about $190,425,000. Finally, AQR Capital Management LLC purchased a new stake in Sandisk during the 3rd quarter valued at about $163,057,000.

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

Sandisk Stock Down 12.6%

Shares of SNDK opened at $1,673.97 on Tuesday. The company has a market capitalization of $247.90 billion, a price-to-earnings ratio of 58.18 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. The stock's 50-day moving average price is $1,737.85 and its 200-day moving average price is $1,011.93.

Sandisk (NASDAQ:SNDK - Get Free Report) last announced its quarterly earnings results on Thursday, April 30th. The data storage provider reported $23.41 earnings per share for the quarter, beating the consensus estimate of $14.17 by $9.24. Sandisk had a return on equity of 44.06% and a net margin of 34.19%.The company had revenue of $5.95 billion during the quarter. During the same quarter in the prior year, the business posted ($0.30) earnings per share. The firm's revenue was up 251.0% compared to the same quarter last year. Sandisk has set its Q4 2026 guidance at 30.000-33.000 EPS. As a group, equities analysts anticipate that Sandisk Corporation will post 64.95 EPS for the current fiscal year.

Insider Activity

In related news, insider Bernard Shek sold 600 shares of the stock in a transaction on 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 sale, the insider directly owned 31,515 shares of the company's stock, valued at approximately $65,803,320. This represents a 1.87% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Necip Sayiner sold 579 shares of the firm's stock in a transaction on Friday, May 8th. The shares were sold at an average price of $1,503.11, for a total transaction of $870,300.69. Following the sale, the director owned 2,900 shares in the company, valued at approximately $4,359,019. This represents a 16.64% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 6,225 shares of company stock worth $10,166,297 over the last 90 days. Company insiders own 0.21% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on SNDK shares. Royal Bank Of Canada increased their price objective on Sandisk from $650.00 to $1,000.00 and gave the company a "sector perform" rating in a report on Friday, May 1st. Jefferies Financial Group reaffirmed a "buy" rating and set a $1,400.00 target price on shares of Sandisk in a report on Friday, May 1st. Barclays upgraded Sandisk from an "equal weight" rating to an "overweight" rating and upped their target price for the company from $1,200.00 to $2,300.00 in a research report on Tuesday, May 26th. Zacks Research downgraded shares of Sandisk from a "strong-buy" rating to a "hold" rating in a report on Wednesday, July 1st. Finally, Melius Research set a $2,350.00 price target on shares of Sandisk in a research report on Monday, May 18th. Two research analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating and four have given a Hold rating to the company's stock. Based on data from MarketBeat.com, Sandisk presently has a consensus rating of "Moderate Buy" and a consensus target price of $1,765.19.

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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