Cornerstone Wealth Group LLC Makes New Investment in Sandisk Corporation $SNDK

Cornerstone Wealth Group LLC acquired a new position in shares of Sandisk Corporation (NASDAQ:SNDK) during the 1st quarter, Holdings Channel reports. The fund acquired 225 shares of the data storage provider’s stock, valued at approximately $143,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Roble Belko & Company Inc acquired a new stake in Sandisk in the 1st quarter worth about $39,000. First United Bank & Trust acquired a new position in shares of Sandisk during the 1st quarter valued at about $54,000. Greenline Wealth Management LLC acquired a new position in shares of Sandisk during the 4th quarter valued at about $26,000. Whittier Trust Co. purchased a new position in shares of Sandisk during the 4th quarter worth about $26,000. Finally, Chung Wu Investment Group LLC purchased a new position in shares of Sandisk during the 4th quarter worth about $27,000.

More Sandisk News

Here are the key news stories impacting Sandisk this week:

• Positive Sentiment: Bernstein raised its price target on Sandisk sharply, highlighting more powerful contracts and a durable long-term business model that could support higher earnings. Bernstein Rockets SanDisk Price Target to $3,000 on SNDK’s Contracts Becoming ‘More Powerful’
• Positive Sentiment: Another bullish update says Sandisk is benefiting from the memory supercycle, with rising AI data-center demand supporting the stock’s advance. SanDisk gains after Bernstein raises price target on memory supercycle outlook
• Positive Sentiment: Some analysts argue Sandisk’s shift into high-bandwidth flash and disciplined supply management could improve margins and reduce the company’s historical cyclicality. Sandisk: The Bull Theses Hiding Behind The NAND Debate

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on SNDK shares. Mizuho boosted their target price on shares of Sandisk from $1,825.00 to $2,200.00 and gave the company an “outperform” rating in a report on Monday, June 8th. The Goldman Sachs Group reaffirmed a “buy” rating and set a $1,200.00 price target on shares of Sandisk in a research note on Friday, May 1st. Wedbush lifted their price target on shares of Sandisk from $740.00 to $1,200.00 and gave the company an “outperform” rating in a report on Wednesday, April 29th. UBS Group set a $1,700.00 price target on shares of Sandisk in a report on Monday, May 4th. Finally, Melius Research set a $2,350.00 price objective on shares of Sandisk in a research note on Monday, May 18th. Three investment analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $1,665.19.

Insider Buying and Selling

In related news, insider Bernard Shek sold 600 shares of the business’s stock in a transaction that occurred on Wednesday, June 3rd. The stock was sold at an average price of $1,736.00, for a total transaction of $1,041,600.00. Following the transaction, the insider directly owned 32,232 shares of the company’s stock, valued at approximately $55,954,752. The trade was a 1.83% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Necip Sayiner sold 579 shares of the company’s stock in a transaction that occurred on Friday, May 8th. The stock was sold at an average price of $1,503.11, for a total value of $870,300.69. Following the completion of the transaction, the director owned 2,900 shares of the company’s stock, valued at approximately $4,359,019. This represents a 16.64% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 5,625 shares of company stock valued at $8,913,497. Insiders own 0.21% of the company’s stock.

Sandisk Price Performance

NASDAQ:SNDK opened at $2,273.73 on Wednesday. The business’s 50-day moving average is $1,595.68 and its two-hundred day moving average is $912.98. Sandisk Corporation has a 12 month low of $40.10 and a 12 month high of $2,354.39. The firm has a market capitalization of $336.72 billion, a PE ratio of 79.03 and a beta of 4.87.

Sandisk (NASDAQ:SNDK) last issued its earnings results on Thursday, April 30th. The data storage provider reported $23.41 earnings per share for the quarter, topping 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 period in the previous year, the company earned ($0.30) EPS. Sandisk’s quarterly revenue was up 251.0% on a year-over-year basis. Sandisk has set its Q4 2026 guidance at 30.000-33.000 EPS. Equities analysts anticipate that Sandisk Corporation will post 64.01 EPS for the current year.

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.