Polymer Capital Management HK LTD Sells 27,008 Shares of Sandisk Corporation $SNDK

Polymer Capital Management HK LTD lessened its stake in shares of Sandisk Corporation (NASDAQ:SNDK) by 29.0% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 66,055 shares of the data storage provider’s stock after selling 27,008 shares during the period. Sandisk comprises approximately 2.2% of Polymer Capital Management HK LTD’s investment portfolio, making the stock its 11th biggest holding. Polymer Capital Management HK LTD’s holdings in Sandisk were worth $15,680,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Vanguard Group Inc. bought a new stake in shares of Sandisk during the third quarter valued at approximately $1,970,388,000. State Street Corp purchased a new position in Sandisk during the third quarter valued at approximately $491,053,000. Geode Capital Management LLC increased its holdings in Sandisk by 44.9% during 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 period. Arrowstreet Capital Limited Partnership purchased a new position in Sandisk during the third quarter valued at approximately $297,293,000. Finally, Norges Bank purchased a new position in Sandisk during the fourth quarter valued at approximately $518,889,000.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on SNDK. Cantor Fitzgerald lifted their price objective on shares of Sandisk from $1,800.00 to $2,900.00 and gave the company an “overweight” rating in a report on Monday. Mizuho lifted their price objective on shares of Sandisk from $1,825.00 to $2,200.00 and gave the company an “outperform” rating in a report on Monday. Sanford C. Bernstein lifted their price objective on shares of Sandisk from $1,250.00 to $1,700.00 and gave the company an “outperform” rating in a report on Monday, May 4th. Morgan Stanley lifted their price objective on shares of Sandisk from $1,100.00 to $1,750.00 and gave the company an “overweight” rating in a report on Wednesday, June 3rd. Finally, Barclays raised shares of Sandisk from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $1,200.00 to $2,300.00 in a report on Tuesday, May 26th. Three equities research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, Sandisk currently has a consensus rating of “Moderate Buy” and a consensus price target of $1,580.67.

Sandisk News Roundup

Here are the key news stories impacting Sandisk this week:

• Positive Sentiment: Bank of America raised its price target on Sandisk to $2,100 and kept a Buy rating, signaling confidence that the AI memory demand trend still has room to run. SanDisk Stock’s 5,000% Rally Hasn’t Stopped This Analyst: Is $2,100 Next?
• Positive Sentiment: Another analyst update also boosted sentiment, with BofA’s Wamsi Mohan reportedly lifting his target to $2,100 on the view that Sandisk remains well positioned in the memory market. This Analyst Just Upped the Price Target on SanDisk Stock. Here’s Why.
• Positive Sentiment: Shares also rose on a broader rebound in memory stocks after SK Hynix’s capacity plan lifted optimism around supply-demand balance in the sector. SanDisk Jumps 14%, Western Digital Climbs 6% as Memory Stocks Rebound on SK Hynix’s Capacity Plan
• Positive Sentiment: Market commentary continues to frame SNDK as an AI growth winner, with traders and analysts highlighting strong memory demand and expanding AI infrastructure exposure. SanDisk Stock (SNDK) Is Up 692% YTD. AI Analyst Raises Price Target and Still Sees More Upside Ahead
• Neutral Sentiment: Some media coverage is focused mainly on the stock’s extraordinary year-to-date surge and valuation, which may keep investor attention high but does not add a new operational catalyst. SanDisk skyrockets over 692% YTD, yet SNDK stock still appears reasonably valued

Insider Activity at Sandisk

In other news, insider Bernard Shek sold 600 shares of the business’s stock in a transaction on Wednesday, June 3rd. The shares were sold at an average price of $1,736.00, for a total transaction of $1,041,600.00. Following the sale, the insider directly owned 32,232 shares of the company’s stock, valued at $55,954,752. The trade was a 1.83% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Alper Ilkbahar sold 2,000 shares of the business’s stock in a transaction on Monday, June 1st. The shares were sold at an average price of $1,756.58, for a total transaction of $3,513,160.00. Following the sale, the executive vice president directly owned 52,677 shares in the company, valued at $92,531,364.66. This trade 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 valued at $8,913,497 over the last three months. 0.21% of the stock is owned by corporate insiders.

Sandisk Price Performance

Shares of SNDK opened at $1,980.10 on Friday. The firm has a market capitalization of $293.23 billion, a PE ratio of 68.83 and a beta of 4.87. Sandisk Corporation has a 1-year low of $40.10 and a 1-year high of $2,021.65. The company’s fifty day moving average price is $1,288.10 and its 200-day moving average price is $749.25.

Sandisk (NASDAQ:SNDK) last announced 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 firm had revenue of $5.95 billion for the quarter. Sandisk had a net margin of 34.19% and a return on equity of 44.06%. Sandisk’s quarterly revenue was up 251.0% compared to the same quarter last year. During the same period last 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, research analysts anticipate that Sandisk Corporation will post 64.01 EPS for the current fiscal year.

Sandisk 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.