Bank of New York Mellon Corp Grows Stock Position in Sandisk Corporation $SNDK

Bank of New York Mellon Corp boosted its holdings in Sandisk Corporation (NASDAQ:SNDK) by 7.6% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 724,226 shares of the data storage provider’s stock after buying an additional 50,972 shares during the period. Bank of New York Mellon Corp owned 0.49% of Sandisk worth $460,129,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in SNDK. State Street Corp acquired a new position in Sandisk during the third quarter worth approximately $491,053,000. Arrowstreet Capital Limited Partnership acquired a new position in shares of Sandisk in the 3rd quarter valued at $297,293,000. Norges Bank acquired a new position in shares of Sandisk in the 4th quarter valued at $518,889,000. Bank of America Corp DE purchased a new stake in shares of Sandisk during the 3rd quarter valued at $190,425,000. Finally, AQR Capital Management LLC purchased a new stake in shares of Sandisk during the 3rd quarter valued at $163,057,000.

More Sandisk News

Here are the key news stories impacting Sandisk this week:

• Positive Sentiment: Several articles note that Sandisk still has strong fundamentals and may be attractively valued after the pullback, with commentary highlighting robust revenue and margin growth, bullish analyst sentiment, and upside potential ahead of earnings. Which Storage Stock Is Best Positioned to Win the AI Memory War? (SNDK)
• Positive Sentiment: Sandisk’s Fab2 launch with Kioxia and the start of BiCS10 sampling suggest continued product and manufacturing momentum in advanced memory technology. Sandisk (SNDK) Launches Fab2 With Kioxia As BiCS10 Sampling Begins
• Neutral Sentiment: Analyst coverage from Argus began with a Hold rating, signaling caution rather than a bullish call, but not a major fundamental downgrade. Analyst Maintains Hold on SanDisk After Post–Spin-Off Rally, Awaiting Pullback or Clear Earnings Acceleration
• Negative Sentiment: Memory and chip stocks are under sector-wide pressure as traders lock in gains from the AI hardware rally, dragging Sandisk lower along with peers such as Micron and Western Digital. Memory-Chip Selloff Drags Nasdaq 100 Lower, SanDisk Sinks 13%: Stock Market Today
• Negative Sentiment: Investor concerns about Chinese competition intensified after reports that CXMT is preparing a large memory-chip IPO, which has weighed on the entire memory group and added to Sandisk’s pullback. SK Hynix and SanDisk Sink 7%, Micron Falls 5% as China’s CXMT Readies an $8.6B Memory IPO
• Negative Sentiment: Articles also point to a sharp correction after Sandisk’s massive rally, with some analysts warning the best part of the move may be over for now. After A 6,000% Melt-Up, SanDisk Just Found Out Gravity Still Exists

Wall Street Analyst Weigh In

Several brokerages recently weighed in on SNDK. Melius Research set a $2,350.00 target price on Sandisk in a research report on Monday, May 18th. Zacks Research lowered Sandisk from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 1st. Wedbush raised their price objective on Sandisk from $1,200.00 to $2,000.00 and gave the stock an “outperform” rating in a report on Thursday, July 9th. Sanford C. Bernstein lifted their price objective on Sandisk from $1,700.00 to $3,000.00 and gave the company an “outperform” rating in a research note on Monday, June 29th. Finally, Weiss Ratings raised Sandisk from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, July 6th. Two analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $1,803.29.

Insider Buying and Selling

In other news, CAO Michael Pokorny sold 2,446 shares of Sandisk stock in a transaction that occurred on Tuesday, May 12th. The shares were 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 owned 22,375 shares in the company, valued at $31,910,777.50. This trade represents a 9.85% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Necip Sayiner sold 579 shares of the business’s stock in a transaction on Friday, May 8th. The stock was sold at an average price of $1,503.11, for a total transaction of $870,300.69. Following the transaction, the director directly owned 2,900 shares in the company, valued at approximately $4,359,019. The trade was a 16.64% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 6,225 shares of company stock worth $10,166,297 in the last 90 days. 0.21% of the stock is owned by insiders.

Sandisk Trading Down 12.6%

Shares of Sandisk stock opened at $1,411.08 on Friday. Sandisk Corporation has a twelve month low of $40.10 and a twelve month high of $2,354.39. The stock has a market cap of $208.97 billion, a price-to-earnings ratio of 49.05 and a beta of 4.74. The company has a fifty day moving average price of $1,750.41 and a 200 day moving average price of $1,040.34.

Sandisk (NASDAQ:SNDK) last released its quarterly earnings data on Thursday, April 30th. The data storage provider reported $23.41 EPS 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 for the quarter. During the same period last year, the business earned ($0.30) earnings per share. The company’s revenue for the quarter was up 251.0% compared to the same quarter last year. Sandisk has set its Q4 2026 guidance at 30.000-33.000 EPS. Analysts forecast that Sandisk Corporation will post 64.95 earnings per share 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.