QRG Capital Management Inc. Buys 7,849 Shares of Sandisk Corporation $SNDK

QRG Capital Management Inc. raised its stake in Sandisk Corporation (NASDAQ:SNDK) by 220.4% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 11,411 shares of the data storage provider’s stock after purchasing an additional 7,849 shares during the quarter. QRG Capital Management Inc.’s holdings in Sandisk were worth $7,250,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently modified their holdings of SNDK. State Street Corp raised its position in Sandisk by 20.7% in the 4th quarter. State Street Corp now owns 5,281,522 shares of the data storage provider’s stock valued at $1,253,728,000 after buying an additional 904,933 shares during the last quarter. Geode Capital Management LLC boosted its holdings in Sandisk by 44.9% during 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 acquiring an additional 1,133,276 shares during the last quarter. Arrowstreet Capital Limited Partnership boosted its holdings in Sandisk by 31.3% during 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 acquiring an additional 828,332 shares during the last quarter. Morgan Stanley grew its stake in shares of Sandisk by 7.2% in the 4th quarter. Morgan Stanley now owns 2,970,361 shares of the data storage provider’s stock worth $705,105,000 after acquiring an additional 199,545 shares in the last quarter. Finally, Norges Bank purchased a new stake in shares of Sandisk in the fourth quarter valued at about $518,889,000.

Sandisk News Roundup

Here are the key news stories impacting Sandisk this week:

• Positive Sentiment: Sandisk announced it has started production of its 10th-generation 3D flash memory with Kioxia at the Kitakami plant, and separately said it is sampling BiCS10 1Tb TLC 3D NAND. Both updates point to higher density, better power efficiency, and more capacity for data-center and AI workloads. Article Title Article Title
• Positive Sentiment: Analysts remained constructive on Sandisk, with China Renaissance lifting its price target sharply on strong AI storage demand and Bank of America raising its target to $2,500 while keeping a buy rating. Article Title
• Positive Sentiment: Commentary from several outlets says the recent selloff may be a pullback after a huge first-half rally, with some investors viewing the weakness as a buying opportunity rather than a change in the underlying growth thesis. Article Title
• Neutral Sentiment: MarketBeat’s week-in-review noted Sandisk as a poster child for tech-sector volatility, reflecting how much the stock can swing on sector rotation and sentiment shifts. Article Title
• Negative Sentiment: Sandisk shares have been hit by a broader selloff in AI chip and memory stocks as investors rotate toward AI software, and some reports also cite profit-taking and memory supply-glut fears. Article Title Article Title
• Negative Sentiment: Insider Bernard Shek sold 600 shares under a pre-arranged 10b5-1 plan, a routine filing but still a mild caution flag for sentiment. Article Title

Insider Transactions at Sandisk

In other Sandisk news, Director Necip Sayiner sold 579 shares of the firm’s stock in a transaction on Friday, May 8th. The stock was sold at an average price of $1,503.11, for a total value of $870,300.69. Following the completion of the sale, the director directly owned 2,900 shares of the company’s stock, valued at $4,359,019. This trade represents a 16.64% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CAO Michael Pokorny sold 2,446 shares of the business’s stock in a transaction on Tuesday, May 12th. The shares were sold at an average price of $1,426.18, for a total value of $3,488,436.28. Following the completion of the sale, the chief accounting officer owned 22,375 shares in the company, valued at approximately $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 a total of 6,225 shares of company stock worth $10,166,297 in the last ninety days. Company insiders own 0.21% of the company’s stock.

Wall Street Analyst Weigh In

SNDK has been the topic of several analyst reports. Citigroup boosted their price target on shares of Sandisk from $2,025.00 to $2,500.00 and gave the stock a “buy” rating in a report on Thursday, June 25th. KGI Securities began coverage on shares of Sandisk in a research note on Wednesday, March 18th. They issued an “outperform” rating and a $992.00 price objective for the company. Sanford C. Bernstein boosted their target price on Sandisk from $1,700.00 to $3,000.00 and gave the stock an “outperform” rating in a research note on Monday, June 29th. Evercore reaffirmed an “outperform” rating and issued a $1,400.00 target price on shares of Sandisk in a report on Friday, May 1st. Finally, Susquehanna increased their price target on Sandisk from $2,000.00 to $3,250.00 and gave the company a “positive” rating in a research report on Friday, May 29th. Two research analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $1,684.24.

Sandisk Stock Performance

NASDAQ SNDK opened at $1,745.00 on Friday. The company has a market capitalization of $258.42 billion, a PE ratio of 60.65 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 company has a 50-day simple moving average of $1,650.22 and a 200 day simple moving average of $942.09.

Sandisk (NASDAQ:SNDK) last released its earnings results 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. Sandisk had a net margin of 34.19% and a return on equity of 44.06%. The firm had revenue of $5.95 billion for the quarter. During the same quarter in the previous year, the firm earned ($0.30) earnings per share. The firm’s revenue was up 251.0% compared to the same quarter last year. Sandisk has set its Q4 2026 guidance at 30.000-33.000 EPS. As a group, analysts forecast 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.