Zweig DiMenna Associates LLC Sells 41,650 Shares of Sandisk Corporation $SNDK

Key Points

• Zweig DiMenna Associates LLC sharply reduced its Sandisk stake by 62.6% in the first quarter, selling 41,650 shares and leaving it with 24,850 shares worth about $15.8 million. Sandisk still represented roughly 2.2% of the fund’s portfolio.
• Wall Street sentiment remains bullish on SanDisk, with multiple analysts raising price targets ahead of the August 5 earnings report. The optimistic case is being driven by strong memory pricing, AI-related demand, and expectations for continued revenue and earnings upside.
• The stock has seen both strong results and volatility: the company recently beat quarterly EPS estimates by a wide margin and posted revenue growth of 251% year over year, but the shares have also faced pressure from broader weakness in memory stocks and profit-taking after a major rally.

Zweig DiMenna Associates LLC cut its position in Sandisk Corporation (NASDAQ:SNDK - Free Report) by 62.6% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 24,850 shares of the data storage provider's stock after selling 41,650 shares during the quarter. Sandisk accounts for about 2.2% of Zweig DiMenna Associates LLC's portfolio, making the stock its 15th largest holding. Zweig DiMenna Associates LLC's holdings in Sandisk were worth $15,788,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. State Street Corp bought a new position in Sandisk in the third quarter valued at approximately $491,053,000. Arrowstreet Capital Limited Partnership bought a new stake in Sandisk during the third quarter worth $297,293,000. Norges Bank bought a new stake in Sandisk during the fourth quarter worth $518,889,000. Bank of America Corp DE bought a new stake in Sandisk during the third quarter worth $190,425,000. Finally, AQR Capital Management LLC acquired a new stake in shares of Sandisk in the 3rd quarter valued at $163,057,000.

Trending Headlines about Sandisk

Here are the key news stories impacting Sandisk this week:

• Positive Sentiment: Wedbush and Evercore both turned more bullish on SanDisk (SNDK), with price targets lifted sharply ahead of the August 5 earnings report; analysts cited strong memory pricing, robust AI demand, and upside to revenue and earnings. Article: Wedbush Pounds the Table—Buy Sandisk Before August 5 Earnings
• Positive Sentiment: Several reports said memory stocks, including SanDisk, look attractive after the recent selloff because AI-driven demand remains strong and valuations have improved. Article: Why You Must Buy These 4 Memory Stocks After the Recent Sell-Off
• Positive Sentiment: SNDK was added to a Zacks Rank #1 momentum list and highlighted as a “buy the dip” name, reinforcing the idea that some investors see the pullback as a buying opportunity. Article: Best Momentum Stocks to Buy for July 13th
• Positive Sentiment: Commentary around AI inference and the storage market suggested SanDisk could remain a beneficiary of the AI memory supercycle, which supports the longer-term bullish narrative. Article: Sandisk: How It Wins From The AI Inference Trend
• Neutral Sentiment: Market commentary focused on whether the recent AI memory boom has more room to run, but these pieces were mainly discussion-oriented rather than new company-specific catalysts. Article: Price Prediction: From $40 to $2,000 in a Year. Where is SanDisk Headed Now?
• Negative Sentiment: SanDisk fell with other memory and semiconductor names after SK Hynix issued a weaker outlook, triggering worries that the AI memory trade may be cooling and pressuring the whole group. Article: Micron, SanDisk, Western Digital Fall 6% as SK Hynix's Weak Outlook Rattles Memory Stocks
• Negative Sentiment: Broader market weakness and risk-off trading, including renewed geopolitical tension and tech-sector selling, added to the downward pressure on SNDK. Article: Why Is Sandisk Stock Falling Monday?
• Negative Sentiment: Some headlines noted that SanDisk has dropped sharply over the past two weeks, suggesting traders are taking profits after an enormous year-to-date rally. Article: SanDisk drops 20% in two weeks: What's next for the stock?

Sandisk Stock Performance

Shares of NASDAQ:SNDK opened at $1,757.82 on Wednesday. The company has a fifty day moving average of $1,744.88 and a 200-day moving average of $1,022.55. The company has a market capitalization of $260.32 billion, a PE ratio of 61.10 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.

Sandisk (NASDAQ:SNDK - Get Free Report) last released its quarterly earnings data 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. 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 company's revenue was up 251.0% compared to the same quarter last year. During the same period last year, the business earned ($0.30) EPS. Sandisk has set its Q4 2026 guidance at 30.000-33.000 EPS. On average, equities analysts forecast that Sandisk Corporation will post 64.95 EPS for the current fiscal year.

Insider Transactions at Sandisk

In other news, CAO Michael Pokorny sold 2,446 shares of the business's 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 directly owned 22,375 shares in the company, valued at approximately $31,910,777.50. The trade was a 9.85% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Alper Ilkbahar sold 2,000 shares of the business's stock in a transaction dated 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 sale, the executive vice president owned 52,677 shares in the company, valued at approximately $92,531,364.66. This trade represents a 3.66% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 6,225 shares of company stock valued at $10,166,297 over the last three months. Company insiders own 0.21% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on SNDK shares. Evercore set a $3,100.00 price target on Sandisk in a research note on Monday. Mizuho upped their price objective on Sandisk from $1,825.00 to $2,200.00 and gave the stock an "outperform" rating in a research report on Monday, June 8th. Morgan Stanley raised their price objective on Sandisk from $1,100.00 to $1,750.00 and gave the company an "overweight" rating in a research note on Wednesday, June 3rd. Cantor Fitzgerald lifted their target price on Sandisk from $1,800.00 to $2,900.00 and gave the company an "overweight" rating in a research report on Monday, June 8th. Finally, Raymond James Financial reissued an "outperform" rating and set a $1,470.00 target price on shares of Sandisk in a research note on Friday, May 1st. 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. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $1,803.29.

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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