Empowered Funds LLC raised its holdings in shares of Sandisk Corporation (NASDAQ:SNDK – Free Report) by 292.7% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 32,842 shares of the data storage provider’s stock after acquiring an additional 24,479 shares during the quarter. Empowered Funds LLC’s holdings in Sandisk were worth $20,866,000 as of its most recent filing with the SEC.
A number of other hedge funds have also made changes to their positions in SNDK. GHP Investment Advisors Inc. boosted its holdings in Sandisk by 12.0% in the first quarter. GHP Investment Advisors Inc. now owns 121 shares of the data storage provider’s stock valued at $77,000 after purchasing an additional 13 shares in the last quarter. Blair William & Co. IL raised its holdings in Sandisk by 0.3% during the fourth quarter. Blair William & Co. IL now owns 5,287 shares of the data storage provider’s stock worth $1,255,000 after purchasing an additional 17 shares in the last quarter. Empirical Finance LLC lifted its position in shares of Sandisk by 0.7% during the 1st quarter. Empirical Finance LLC now owns 3,535 shares of the data storage provider’s stock worth $2,246,000 after buying an additional 24 shares during the last quarter. Larson Financial Group LLC lifted its position in shares of Sandisk by 20.2% during the 4th quarter. Larson Financial Group LLC now owns 220 shares of the data storage provider’s stock worth $52,000 after buying an additional 37 shares during the last quarter. Finally, Valley Wealth Managers Inc. acquired a new position in shares of Sandisk in the 1st quarter valued at $25,000.
Sandisk Stock Down 14.2%
Shares of SNDK stock opened at $1,096.10 on Wednesday. The stock has a market capitalization of $162.32 billion, a PE ratio of 38.10 and a beta of 4.74. Sandisk Corporation has a 52-week low of $40.10 and a 52-week high of $2,354.39. The stock’s 50-day moving average price is $1,747.20 and its 200 day moving average price is $1,104.73.
Analyst Ratings Changes
Several equities research analysts recently commented on SNDK shares. Evercore set a $3,100.00 price target on shares of Sandisk in a research note on Monday, July 13th. UBS Group set a $1,700.00 price objective on Sandisk in a report on Monday, May 4th. Wedbush boosted their target price on Sandisk from $1,200.00 to $2,000.00 and gave the company an “outperform” rating in a report on Thursday, July 9th. Mizuho upped their target price on Sandisk from $1,825.00 to $2,200.00 and gave the company an “outperform” rating in a research report on Monday, June 8th. Finally, Cantor Fitzgerald raised their price target on Sandisk from $1,800.00 to $2,900.00 and gave the stock an “overweight” rating in a research note on Monday, June 8th. Two research analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $1,811.38.
Check Out Our Latest Stock Report on Sandisk
Insider Buying and Selling
In other Sandisk news, CAO Michael Pokorny sold 2,446 shares of the company’s stock in a transaction 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 completion of the transaction, the chief accounting officer owned 22,375 shares in the company, valued at approximately $31,910,777.50. This represents a 9.85% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Alper Ilkbahar sold 2,000 shares of the firm’s stock in a transaction on Monday, June 1st. The stock was sold at an average price of $1,756.58, for a total transaction of $3,513,160.00. Following the completion of the sale, the executive vice president owned 52,677 shares of the company’s stock, valued at $92,531,364.66. This trade represents a 3.66% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 6,225 shares of company stock valued at $10,166,297 in the last ninety days. Company insiders own 0.21% of the company’s stock.
Trending Headlines about Sandisk
Here are the key news stories impacting Sandisk this week:
- Positive Sentiment: AI infrastructure demand continues to support Sandisk’s memory and data-storage growth. One analysis identifies Sandisk as an AI beneficiary that has outperformed NVIDIA, while its latest reported quarter showed revenue growth of 251% year over year and earnings well above consensus. 2 AI Stocks That Beat NVIDIA – and Could Soar Even Higher
- Neutral Sentiment: Investors are looking ahead to Sandisk’s next earnings report, with the company’s strong results and AI-related demand offering potential support, but the stock’s outlook remains highly dependent on continued growth in memory pricing and demand.
- Negative Sentiment: Chip stocks extended their pullback as concerns about an AI bubble, rising infrastructure costs and stretched expectations weighed on the Nasdaq and the broader AI trade. Chip Stocks Extend Pullback Amid AI Bubble Fears
- Negative Sentiment: China’s ChangXin Memory Technologies (CXMT) made a strong market debut, while reports of progress on domestically developed Chinese lithography equipment heightened fears that Chinese companies could close the technology gap in NAND and other memory products. Why are Micron, Sandisk, and SK Hynix stocks falling today?
- Negative Sentiment: Technical selling has accelerated after Sandisk’s extraordinary rally from its 2025 spinoff, leaving the shares more than 50% below their June peak and below key moving averages. Analysts and commentators warn that the retreat may reflect both profit-taking and a reset of overly optimistic expectations.
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.
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