Sandisk Corporation $SNDK Holdings Cut by iA Global Asset Management Inc.

iA Global Asset Management Inc. lowered its stake in shares of Sandisk Corporation (NASDAQ:SNDK) by 43.9% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 25,350 shares of the data storage provider’s stock after selling 19,840 shares during the period. iA Global Asset Management Inc.’s holdings in Sandisk were worth $16,106,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. State Street Corp purchased a new stake in shares of Sandisk during the third quarter worth $491,053,000. Arrowstreet Capital Limited Partnership purchased a new position in Sandisk in the third quarter valued at about $297,293,000. Norges Bank purchased a new position in Sandisk in the fourth quarter valued at about $518,889,000. Bank of America Corp DE acquired a new position in Sandisk in the 3rd quarter worth about $190,425,000. Finally, AQR Capital Management LLC acquired a new position in Sandisk in the 3rd quarter worth about $163,057,000.

Insider Activity

In other news, Director Necip Sayiner sold 579 shares of the firm’s stock in a transaction dated 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 sale, the director directly owned 2,900 shares of the company’s stock, valued at approximately $4,359,019. This trade represents a 16.64% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Alper Ilkbahar sold 2,000 shares of the stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $1,756.58, for a total value of $3,513,160.00. Following the completion of the sale, the executive vice president directly owned 52,677 shares of the company’s stock, valued at $92,531,364.66. This represents a 3.66% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 5,625 shares of company stock worth $8,913,497 in the last 90 days. Insiders own 0.21% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the company. KGI Securities assumed coverage on Sandisk in a report on Wednesday, March 18th. They set an “outperform” rating and a $992.00 price target for the company. Raymond James Financial restated an “outperform” rating and issued a $1,470.00 price objective on shares of Sandisk in a report on Friday, May 1st. Mizuho raised their price objective on shares of Sandisk from $1,825.00 to $2,200.00 and gave the company an “outperform” rating in a research report on Monday, June 8th. Barclays upgraded shares of Sandisk from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $1,200.00 to $2,300.00 in a research note on Tuesday, May 26th. Finally, Morgan Stanley boosted their target price on shares of Sandisk from $1,100.00 to $1,750.00 and gave the stock an “overweight” rating in a research report on Wednesday, June 3rd. Three analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $1,665.19.

Key Stories Impacting Sandisk

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

Sandisk Stock Up 10.9%

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

Sandisk (NASDAQ:SNDK) last issued its quarterly earnings data on Thursday, April 30th. The data storage provider reported $23.41 earnings per share for the quarter, topping analysts’ consensus estimates of $14.17 by $9.24. Sandisk had a net margin of 34.19% and a return on equity of 44.06%. The business had revenue of $5.95 billion during the quarter. During the same quarter in the previous year, the firm posted ($0.30) earnings per share. Sandisk’s quarterly revenue was up 251.0% compared to the same quarter last year. Sandisk has set its Q4 2026 guidance at 30.000-33.000 EPS. As a group, equities analysts expect that Sandisk Corporation will post 64.01 EPS for the current fiscal 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.