Sandisk Corporation $SNDK Shares Acquired by State of Michigan Retirement System

State of Michigan Retirement System grew its holdings in Sandisk Corporation (NASDAQ:SNDK) by 6.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 38,601 shares of the data storage provider’s stock after purchasing an additional 2,200 shares during the quarter. State of Michigan Retirement System’s holdings in Sandisk were worth $24,525,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. State Street Corp lifted its position in shares of 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 during the last quarter. Geode Capital Management LLC increased its holdings in Sandisk by 44.9% in the fourth quarter. Geode Capital Management LLC now owns 3,655,860 shares of the data storage provider’s stock valued at $866,310,000 after buying an additional 1,133,276 shares during the last quarter. Arrowstreet Capital Limited Partnership raised its stake in Sandisk by 31.3% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 3,478,002 shares of the data storage provider’s stock valued at $825,608,000 after buying an additional 828,332 shares in the last quarter. Morgan Stanley raised its stake in Sandisk by 7.2% in the fourth quarter. Morgan Stanley now owns 2,970,361 shares of the data storage provider’s stock valued at $705,105,000 after buying an additional 199,545 shares in the last quarter. Finally, Norges Bank purchased a new stake in Sandisk during the 4th quarter worth about $518,889,000.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on SNDK shares. Cantor Fitzgerald upped their price objective on Sandisk from $1,800.00 to $2,900.00 and gave the stock an “overweight” rating in a research report on Monday, June 8th. Mizuho raised their target price on Sandisk from $1,825.00 to $2,200.00 and gave the stock an “outperform” rating in a research report on Monday, June 8th. Susquehanna boosted their target price on Sandisk from $2,000.00 to $3,250.00 and gave the stock a “positive” rating in a research note on Friday, May 29th. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $1,200.00 price target on shares of Sandisk in a report on Friday, May 1st. Finally, UBS Group set a $1,700.00 target price on shares of Sandisk in a report on Monday, May 4th. Two equities research analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat.com, Sandisk currently has a consensus rating of “Moderate Buy” and an average price target of $1,803.29.

Insider Buying and Selling at Sandisk

In other Sandisk news, EVP Alper Ilkbahar sold 2,000 shares of Sandisk 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 approximately $92,531,364.66. The trade was a 3.66% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Michael Pokorny sold 2,446 shares of the company’s stock in a transaction dated 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 sale, the chief accounting officer directly owned 22,375 shares of the company’s stock, valued at $31,910,777.50. The trade was a 9.85% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 6,225 shares of company stock worth $10,166,297 in the last quarter. 0.21% of the stock is currently owned by company insiders.

Key Sandisk News

Here are the key news stories impacting Sandisk this week:

• Positive Sentiment: Wedbush and Evercore both turned more bullish on SanDisk (SNDK), with price targets lifted sharply ahead of the August 5 earnings report; analysts cited strong memory pricing, robust AI demand, and upside to revenue and earnings. Article: Wedbush Pounds the Table—Buy Sandisk Before August 5 Earnings
• Positive Sentiment: Several reports said memory stocks, including SanDisk, look attractive after the recent selloff because AI-driven demand remains strong and valuations have improved. Article: Why You Must Buy These 4 Memory Stocks After the Recent Sell-Off
• Positive Sentiment: SNDK was added to a Zacks Rank #1 momentum list and highlighted as a “buy the dip” name, reinforcing the idea that some investors see the pullback as a buying opportunity. Article: Best Momentum Stocks to Buy for July 13th
• Positive Sentiment: Commentary around AI inference and the storage market suggested SanDisk could remain a beneficiary of the AI memory supercycle, which supports the longer-term bullish narrative. Article: Sandisk: How It Wins From The AI Inference Trend
• Neutral Sentiment: Market commentary focused on whether the recent AI memory boom has more room to run, but these pieces were mainly discussion-oriented rather than new company-specific catalysts. Article: Price Prediction: From $40 to $2,000 in a Year. Where is SanDisk Headed Now?
• Negative Sentiment: SanDisk fell with other memory and semiconductor names after SK Hynix issued a weaker outlook, triggering worries that the AI memory trade may be cooling and pressuring the whole group. Article: Micron, SanDisk, Western Digital Fall 6% as SK Hynix’s Weak Outlook Rattles Memory Stocks
• Negative Sentiment: Broader market weakness and risk-off trading, including renewed geopolitical tension and tech-sector selling, added to the downward pressure on SNDK. Article: Why Is Sandisk Stock Falling Monday?
• Negative Sentiment: Some headlines noted that SanDisk has dropped sharply over the past two weeks, suggesting traders are taking profits after an enormous year-to-date rally. Article: SanDisk drops 20% in two weeks: What’s next for the stock?

Sandisk Stock Up 5.0%

Shares of NASDAQ SNDK opened at $1,757.82 on Wednesday. The stock has a market cap of $260.32 billion, a PE ratio of 61.10 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 business has a 50-day moving average price of $1,744.88 and a 200 day moving average price of $1,022.55.

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, beating analysts’ consensus estimates of $14.17 by $9.24. The company had revenue of $5.95 billion during the quarter. Sandisk had a return on equity of 44.06% and a net margin of 34.19%.Sandisk’s quarterly revenue was up 251.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.30) EPS. Sandisk has set its Q4 2026 guidance at 30.000-33.000 EPS. Sell-side analysts anticipate that Sandisk Corporation will post 64.95 earnings per share for the current 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.