Wealth Effects LLC purchased a new stake in Sandisk Corporation (NASDAQ:SNDK – Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 1,060 shares of the data storage provider’s stock, valued at approximately $673,000.
A number of other hedge funds have also added to or reduced their stakes in the stock. Whittier Trust Co. bought a new position in Sandisk in the fourth quarter worth about $26,000. Greenline Wealth Management LLC bought a new stake in Sandisk in the fourth quarter worth $26,000. Mitsubishi UFJ Asset Management Co. Ltd. bought a new position in Sandisk in the 3rd quarter worth about $27,000. Chung Wu Investment Group LLC purchased a new stake in Sandisk during the 4th quarter valued at about $27,000. Finally, Westfuller Advisors LLC increased its stake in Sandisk by 51.8% during the 4th quarter. Westfuller Advisors LLC now owns 126 shares of the data storage provider’s stock valued at $30,000 after purchasing an additional 43 shares in the last quarter.
Key Headlines Impacting Sandisk
Here are the key news stories impacting Sandisk this week:
- Positive Sentiment: Rising AI infrastructure demand continues to support Sandisk’s NAND flash and SSD business, with multiple articles pointing to strong pricing power, improving earnings, and a favorable industry backdrop. Micron + One Explosive AI Memory Stock to Buy Before H2 2026
- Positive Sentiment: Citi raised its price target on Sandisk to $2,500 and reiterated a Buy rating, reinforcing the view that Wall Street still sees upside after the company’s blowout quarter. Citi Just Raised Its Price Target on SanDisk Stock. Here’s Why.
- Positive Sentiment: Micron’s strong results also lifted sentiment across the memory-chip group, putting Sandisk in focus as investors extrapolate stronger AI memory demand into the next quarter. Micron’s Robust Q3 Results Raise Investor Attention on These 3 Stocks
- Neutral Sentiment: Some analysis notes that Sandisk remains attractively valued versus its growth profile, but that the stock carries higher execution and customer-concentration risk than more diversified peers. Sandisk: Unlike Micron, There’s Much Higher Risk
- Negative Sentiment: Several market reports describe the move as a cooling of the memory rally, with traders locking in profits after Thursday’s sharp surge. Why Is Sandisk Stock Falling Friday?
- Negative Sentiment: One bearish note argues Sandisk has rallied too far too fast and implies material downside from current levels, adding to near-term pressure on the shares. Prediction: SanDisk Has Rallied Too Far, Too Fast. The Price Target Warns of 20%+ Downside
Wall Street Analyst Weigh In
Read Our Latest Stock Report on SNDK
Insider Activity at Sandisk
In other Sandisk 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 completion of the sale, 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 position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Alper Ilkbahar sold 2,000 shares of the stock in a transaction 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 transaction, the executive vice president directly owned 52,677 shares in the company, valued at $92,531,364.66. The trade was a 3.66% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 5,625 shares of company stock worth $8,913,497. Company insiders own 0.21% of the company’s stock.
Sandisk Stock Down 10.5%
Shares of NASDAQ SNDK opened at $2,090.71 on Friday. The firm’s 50-day moving average price is $1,546.01 and its 200-day moving average price is $881.10. Sandisk Corporation has a 52-week low of $40.10 and a 52-week high of $2,354.39. The company has a market cap of $309.61 billion, a PE ratio of 72.67 and a beta of 4.87.
Sandisk (NASDAQ:SNDK – Get Free Report) last released its quarterly earnings data on Thursday, April 30th. The data storage provider reported $23.41 earnings per share for the quarter, beating the consensus estimate of $14.17 by $9.24. The firm had revenue of $5.95 billion during the quarter. Sandisk had a net margin of 34.19% and a return on equity of 44.06%. The firm’s revenue for the quarter was up 251.0% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.30) earnings per share. Sandisk has set its Q4 2026 guidance at 30.000-33.000 EPS. As a group, equities research analysts anticipate 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.
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