State of New Jersey Common Pension Fund D Makes New Investment in Sandisk Corporation $SNDK

State of New Jersey Common Pension Fund D purchased a new stake in Sandisk Corporation (NASDAQ:SNDK) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 49,693 shares of the data storage provider’s stock, valued at approximately $5,576,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Parnassus Investments LLC acquired a new stake in shares of Sandisk during the third quarter worth $103,815,000. Principal Financial Group Inc. bought a new position in Sandisk during the 3rd quarter worth about $74,265,000. Public Sector Pension Investment Board acquired a new stake in shares of Sandisk in the 3rd quarter valued at about $60,415,000. GF Fund Management CO. LTD. bought a new stake in shares of Sandisk in the third quarter valued at about $45,206,000. Finally, Deprince Race & Zollo Inc. acquired a new position in shares of Sandisk during the third quarter worth about $39,480,000.

Insider Transactions at Sandisk

In related news, Director Necip Sayiner sold 1,271 shares of the business’s stock in a transaction that occurred on Wednesday, December 3rd. The stock was sold at an average price of $195.14, for a total transaction of $248,022.94. Following the transaction, the director directly owned 3,479 shares of the company’s stock, valued at approximately $678,892.06. The trade was a 26.76% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.21% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several equities research analysts have commented on the company. Royal Bank Of Canada restated a “sector perform” rating and issued a $650.00 target price on shares of Sandisk in a research note on Friday, January 30th. Bank of America boosted their price objective on shares of Sandisk from $300.00 to $390.00 and gave the stock a “buy” rating in a research report on Wednesday, January 7th. UBS Group set a $1,000.00 target price on shares of Sandisk in a research report on Monday, February 2nd. China Renaissance started coverage on shares of Sandisk in a research report on Friday, December 5th. They set a “buy” rating and a $322.00 price target on the stock. Finally, Wedbush increased their price objective on shares of Sandisk from $600.00 to $740.00 and gave the stock an “outperform” rating in a research note on Friday, January 30th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $542.85.

Key Stories Impacting Sandisk

Here are the key news stories impacting Sandisk this week:

• Positive Sentiment: Traders flagged a Power Inflow alert — a bullish order-flow indicator that signals heavy buying (often institutional). Market participants tracking flow data see this as a near-term technical catalyst supporting the rally. Sandisk Shares Rise Over 3% Following Key Trading Signal
• Positive Sentiment: Strong sector cues: Kioxia’s earnings beat lifted memory stocks broadly, which benefits Sandisk as investors rotate into NAND/flash names on indications of tighter supply and stronger demand. As Kioxia earnings kick memory stocks into gear, should you buy SanDisk here?
• Positive Sentiment: Fundamental demand tailwinds: coverage notes that AI hyperscalers and a NAND shortage are supporting Sandisk’s revenue growth outlook, underpinning stock momentum. Sandisk Rides NAND Shortage As AI Hyperscalers Lock In Supply
• Neutral Sentiment: Price action shows a rebound from early weakness after the offering news — some buyers stepped in after the dip, reducing immediate downside but not removing the overhang from the secondary sale. SanDisk Stock Fights Back From Early Losses After Offering
• Negative Sentiment: Western Digital announced a planned sale of roughly $3.17B of Sandisk shares in a secondary offering; Sandisk won’t receive proceeds. The added supply and headline risk triggered an earlier pullback and remains a near-term overhang on the stock. Western Digital to sell $3.17 billion stake in Sandisk
• Negative Sentiment: Business Wire filings show the secondary offering was launched and priced (5,821,135 shares at $545 per share); though Sandisk is not issuing stock, the sale by a major shareholder increases float and can pressure near-term multiples. Sandisk Announces Pricing of Secondary Offering of Common Stock

Sandisk Stock Performance

Shares of SNDK stock opened at $600.40 on Thursday. The company has a fifty day moving average price of $410.63 and a two-hundred day moving average price of $231.13. Sandisk Corporation has a one year low of $27.89 and a one year high of $725.00. The stock has a market cap of $88.60 billion and a P/E ratio of -79.10. The company has a debt-to-equity ratio of 0.06, a current ratio of 3.11 and a quick ratio of 1.92.

Sandisk (NASDAQ:SNDK) last issued its earnings results on Thursday, January 29th. The data storage provider reported $6.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.31 by $2.89. Sandisk had a negative net margin of 11.66% and a positive return on equity of 10.11%. The company had revenue of $3.03 billion for the quarter, compared to analysts’ expectations of $2.67 billion. The firm’s revenue was up 61.2% on a year-over-year basis.

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.