Cane Capital Partners LLC Takes $283,000 Position in Sandisk Corporation $SNDK

Cane Capital Partners LLC purchased a new stake in Sandisk Corporation (NASDAQ:SNDK) during the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 446 shares of the data storage provider’s stock, valued at approximately $283,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Osaic Holdings Inc. acquired a new position in Sandisk during the 2nd quarter worth $317,000. Merit Financial Group LLC purchased a new position in Sandisk during the 3rd quarter worth $408,000. MAI Capital Management acquired a new stake in shares of Sandisk during the third quarter worth about $181,000. US Bancorp DE purchased a new position in shares of Sandisk during the third quarter worth about $922,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. purchased a new position in shares of Sandisk during the third quarter worth about $27,000.

Sandisk News Summary

Here are the key news stories impacting Sandisk this week:

• Positive Sentiment: Bank of America raised its price target on Sandisk to $2,500 from $2,100 and kept a Buy rating, citing tight NAND supply, stronger pricing, and demand that could remain elevated through 2027. Article Title
• Positive Sentiment: Bernstein also sharply boosted its outlook on Sandisk, with reports highlighting a much higher price target and confidence in the company’s contracts, earnings power, and the durability of the memory supercycle. Article Title
• Positive Sentiment: Analysts continue to point to Sandisk’s expanding QLC SSD portfolio, AI storage demand, and multi-year supply deals as support for longer-term growth. Article Title
• Neutral Sentiment: Several market commentary pieces noted that Sandisk has already run sharply higher this year, with some investors questioning whether valuations have gotten too stretched after the memory-stock rally. Article Title
• Neutral Sentiment: Sandisk’s recent earnings strength and bullish long-term guidance continue to support the stock, even as the market debates how much upside is already priced in.
• Negative Sentiment: Sandisk fell along with other memory-chip stocks in a broad semiconductor selloff, with investors locking in profits after a strong first half for the sector. Article Title
• Negative Sentiment: Reports also said a new class-action lawsuit against major memory chipmakers added pressure to the shares, reinforcing concerns about risk in the sector. Article Title

Insider Activity at Sandisk

In related news, Director Necip Sayiner sold 579 shares of the business’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 transaction, the director owned 2,900 shares of the company’s stock, valued at approximately $4,359,019. The trade was a 16.64% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Bernard Shek sold 600 shares of Sandisk 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 value of $1,041,600.00. Following the sale, the insider directly owned 32,232 shares in the company, valued at $55,954,752. The trade was a 1.83% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 5,625 shares of company stock valued at $8,913,497. Insiders own 0.21% of the company’s stock.

Analyst Upgrades and Downgrades

SNDK has been the subject of several recent analyst reports. Weiss Ratings cut shares of Sandisk from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday, June 3rd. Royal Bank Of Canada boosted their target price on shares of Sandisk from $650.00 to $1,000.00 and gave the stock a “sector perform” rating in a research report on Friday, May 1st. Evercore restated an “outperform” rating and set a $1,400.00 target price on shares of Sandisk in a research report on Friday, May 1st. Wedbush boosted their price target on Sandisk from $740.00 to $1,200.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 29th. Finally, Morgan Stanley upped their price target on Sandisk from $1,100.00 to $1,750.00 and gave the stock an “overweight” rating in a report on Wednesday, June 3rd. Three investment analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $1,684.24.

Sandisk Price Performance

Sandisk stock opened at $2,032.22 on Thursday. The company has a market cap of $300.95 billion, a PE ratio of 70.64 and a beta of 4.72. Sandisk Corporation has a 12 month low of $40.10 and a 12 month high of $2,354.39. The company has a fifty day moving average price of $1,618.07 and a two-hundred day moving average price of $925.59.

Sandisk (NASDAQ:SNDK) last released its quarterly earnings results on Thursday, April 30th. The data storage provider reported $23.41 earnings per share for the quarter, beating analysts’ consensus estimates 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 for the quarter. During the same period last year, the firm posted ($0.30) EPS. The business’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 research analysts anticipate that Sandisk Corporation will post 64.01 earnings per share for the current year.

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.