Maryland State Retirement & Pension System Buys New Stake in Sandisk Corporation $SNDK

Maryland State Retirement & Pension System purchased a new stake in Sandisk Corporation (NASDAQ:SNDK) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 26,399 shares of the data storage provider’s stock, valued at approximately $2,962,000.

A number of other institutional investors have also modified their holdings of the stock. Osaic Holdings Inc. purchased a new stake in shares of Sandisk in the second quarter worth about $317,000. Corient Private Wealth LLC acquired a new position in Sandisk in the second quarter valued at approximately $353,000. Praxis Investment Management Inc. purchased a new stake in Sandisk in the 3rd quarter worth approximately $533,000. GAMMA Investing LLC purchased a new stake in Sandisk in the 3rd quarter worth approximately $439,000. Finally, Voya Investment Management LLC acquired a new stake in shares of Sandisk during the 3rd quarter worth approximately $8,917,000.

Sandisk Stock Up 1.1%

Shares of NASDAQ SNDK opened at $413.62 on Tuesday. The firm has a market cap of $60.62 billion and a price-to-earnings ratio of 1,292.56. The company’s 50-day simple moving average is $262.44 and its 200-day simple moving average is $151.56. The company has a quick ratio of 2.03, a current ratio of 3.29 and a debt-to-equity ratio of 0.14. Sandisk Corporation has a 52-week low of $27.89 and a 52-week high of $432.02.

Sandisk (NASDAQ:SNDK) last released its quarterly earnings results on Thursday, November 6th. The data storage provider reported $1.22 earnings per share for the quarter, topping the consensus estimate of $0.58 by $0.64. The company had revenue of $2.31 billion for the quarter, compared to analyst estimates of $2.12 billion. The business’s revenue was up 22.6% on a year-over-year basis. Sandisk has set its Q2 2026 guidance at 3.000-3.40 EPS.

Analyst Ratings Changes

Several equities analysts recently issued reports on the stock. China Renaissance initiated coverage on shares of Sandisk in a research note on Friday, December 5th. They issued a “buy” rating and a $322.00 target price for the company. Wells Fargo & Company upped their price objective on shares of Sandisk from $230.00 to $380.00 and gave the stock an “equal weight” rating in a research report on Thursday. Wedbush increased their target price on shares of Sandisk from $220.00 to $260.00 and gave the stock an “outperform” rating in a research note on Friday, November 7th. JPMorgan Chase & Co. began coverage on Sandisk in a research note on Monday, December 8th. They issued a “neutral” rating and a $235.00 price target for the company. Finally, Sanford C. Bernstein upped their price target on Sandisk from $300.00 to $580.00 and gave the stock an “outperform” rating in a report on Wednesday, January 14th. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Sandisk currently has an average rating of “Moderate Buy” and a consensus price target of $316.84.

Insider Buying and Selling at Sandisk

In other news, Director Necip Sayiner sold 1,271 shares of Sandisk stock in a transaction that occurred on Wednesday, December 3rd. The stock was sold at an average price of $195.14, for a total value of $248,022.94. Following the sale, the director directly owned 3,479 shares of the company’s stock, valued at $678,892.06. The trade was a 26.76% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.21% of the stock is currently owned by company insiders.

About Sandisk

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.