Arizona State Retirement System Increases Stock Position in Sandisk Corporation $SNDK

Posted by George Bondi on Sep 8th, 2026

Arizona State Retirement System increased its holdings in Sandisk Corporation (NASDAQ:SNDK – Free Report) by 3.8% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 39,709 shares of the data storage provider’s stock after buying an additional 1,467 shares during the period. Arizona State Retirement System’s holdings in Sandisk were worth $90,288,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of the business. California State Teachers Retirement System lifted its position in shares of Sandisk by 235,032.6% during the second quarter. California State Teachers Retirement System now owns 380,392,755 shares of the data storage provider’s stock worth $864,910,419,000 after acquiring an additional 380,230,977 shares in the last quarter. BlackRock Inc. bought a new stake in shares of Sandisk during the 2nd quarter valued at $23,408,732,000. State Street Corp lifted its holdings in Sandisk by 20.7% during the 4th quarter. State Street Corp now owns 5,281,522 shares of the data storage provider’s stock worth $1,253,728,000 after purchasing an additional 904,933 shares in the last quarter. Geode Capital Management LLC boosted its stake in Sandisk by 44.9% in the 4th quarter. Geode Capital Management LLC now owns 3,655,860 shares of the data storage provider’s stock worth $866,310,000 after purchasing an additional 1,133,276 shares during the period. Finally, Arrowstreet Capital Limited Partnership boosted its stake in Sandisk by 31.3% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 3,478,002 shares of the data storage provider’s stock worth $825,608,000 after purchasing an additional 828,332 shares during the period.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on SNDK shares. Mizuho decreased their price target on Sandisk from $1,900.00 to $1,875.00 and set an “outperform” rating on the stock in a research report on Tuesday, August 25th. Zacks Research upgraded shares of Sandisk from a “hold” rating to a “strong-buy” rating in a research report on Thursday, July 30th. Jefferies Financial Group reaffirmed a “buy” rating on shares of Sandisk in a research note on Thursday, August 6th. Susquehanna decreased their target price on shares of Sandisk from $3,250.00 to $3,050.00 and set a “positive” rating on the stock in a report on Thursday, July 23rd. Finally, Royal Bank Of Canada increased their target price on shares of Sandisk from $1,300.00 to $1,600.00 and gave the stock a “sector perform” rating in a research note on Friday, August 14th. Three analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, Sandisk has an average rating of “Buy” and an average price target of $1,998.14.

Read Our Latest Analysis on SNDK

Sandisk Trading Down 0.1%

Shares of SNDK traded down $2.01 during trading hours on Tuesday, reaching $1,737.99. 11,124,220 shares of the company’s stock traded hands, compared to its average volume of 16,128,618. The stock has a market cap of $254.48 billion, a PE ratio of 23.84, a price-to-earnings-growth ratio of 0.17 and a beta of 5.17. The firm’s 50 day simple moving average is $1,537.12 and its 200-day simple moving average is $1,297.85. Sandisk Corporation has a 12 month low of $69.57 and a 12 month high of $2,354.39.

Sandisk (NASDAQ:SNDK – Get Free Report) last posted its quarterly earnings data on Wednesday, August 5th. The data storage provider reported $39.25 earnings per share for the quarter, topping the consensus estimate of $33.28 by $5.97. The company had revenue of $8.96 billion for the quarter. Sandisk had a net margin of 56.47% and a return on equity of 87.84%. The firm’s revenue for the quarter was up 371.6% on a year-over-year basis. During the same quarter last year, the company posted $0.29 earnings per share. Sandisk has set its Q1 2027 guidance at 44.000-46.000 EPS. As a group, analysts expect that Sandisk Corporation will post 208.92 earnings per share for the current fiscal year.

Sandisk declared that its Board of Directors has initiated a stock repurchase program on Wednesday, August 5th that authorizes the company to repurchase $14.00 billion in shares. This repurchase authorization authorizes the data storage provider to purchase up to 6.6% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board believes its shares are undervalued.

Insider Buying and Selling

In other Sandisk news, insider Bernard Shek sold 600 shares of the business’s stock in a transaction that occurred on Tuesday, September 1st. The shares were sold at an average price of $1,525.60, for a total value of $915,360.00. Following the completion of the transaction, the insider owned 29,884 shares of the company’s stock, valued at $45,591,030.40. The trade was a 1.97% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 1,800 shares of company stock valued at $2,865,456. 0.21% of the stock is owned by insiders.

More Sandisk News

Here are the key news stories impacting Sandisk this week:

Positive Sentiment: S&P 100 inclusion may support additional demand. Sandisk will join the S&P 100 before trading opens on September 21, potentially prompting purchases by index-tracking funds and increasing the stock’s visibility among institutional investors. Sandisk Soars Nearly 12% Before Joining the S&P 100
Positive Sentiment: AI-related memory demand remains the primary catalyst. Tight NAND supply and rising data-center investment are supporting pricing and demand expectations across memory-chip makers, helping drive Sandisk’s gains and making it a leading performer in leveraged technology ETFs. Why Are SanDisk, Micron, and SK Hynix Stocks Rising?
Positive Sentiment: Cash-flow and contract arguments are attracting bullish investors. Analysts highlight Sandisk’s projected fiscal 2027 free cash flow, debt-free balance sheet, and approximately $93.9 billion in long-term agreements as evidence that its business may be becoming less dependent on short-term NAND pricing cycles. Sandisk: Don’t Overcomplicate The Simple, Free Cash Flow Is What Matters
Neutral Sentiment: The rally’s durability is disputed. Sandisk has risen more than 500% this year and over 40% in the past month, leaving Wall Street forecasts and quantitative models at odds over whether earnings growth can justify the current valuation. SanDisk Stock Has Soared More Than 500% in 2026
Negative Sentiment: Investors face elevated downside risk. Commentary warns that the stock may have peaked and that NAND remains a cyclical industry. A reversal in AI spending, memory pricing, or supply-demand conditions could expose Sandisk’s very high valuation and volatility. Sandisk Has Peaked

Sandisk Profile

(Free Report)

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.