Convergence Investment Partners LLC Invests $6.06 Million in Sandisk Corporation $SNDK

Convergence Investment Partners LLC acquired a new stake in Sandisk Corporation (NASDAQ:SNDK) in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 9,535 shares of the data storage provider’s stock, valued at approximately $6,058,000. Sandisk accounts for about 1.0% of Convergence Investment Partners LLC’s holdings, making the stock its 20th biggest holding.

A number of other large investors have also added to or reduced their stakes in the business. Allworth Financial LP grew its position in Sandisk by 84.2% in the 4th quarter. Allworth Financial LP now owns 4,521 shares of the data storage provider’s stock worth $1,073,000 after purchasing an additional 2,067 shares in the last quarter. Tredje AP fonden purchased a new position in shares of Sandisk in the 4th quarter worth approximately $7,821,000. ProShare Advisors LLC grew its holdings in shares of Sandisk by 1,301.5% in the fourth quarter. ProShare Advisors LLC now owns 33,637 shares of the data storage provider’s stock valued at $7,985,000 after acquiring an additional 31,237 shares in the last quarter. FourThought Financial Partners LLC bought a new position in shares of Sandisk in the fourth quarter valued at approximately $422,000. Finally, North Dakota State Investment Board purchased a new stake in shares of Sandisk during the fourth quarter valued at approximately $1,127,000.

Trending Headlines about Sandisk

Here are the key news stories impacting Sandisk this week:

• Positive Sentiment: Memory and semiconductor stocks are rebounding sharply in Monday trading, lifting Sandisk along with peers as investors regain confidence after the recent selloff. Micron Jumps 5%, SanDisk Rises 6%, Western Digital Climbs 4% as Memory Stocks Rebound With Chips
• Positive Sentiment: Investors are viewing the memory-stock pullback as a strong entry point, which is encouraging dip-buying in SanDisk and other chip names. The Memory Stock Sell-Off Created a ‘Strong Entry Point,’ Says Morgan Stanley. Investors Are Buying In.
• Positive Sentiment: Morgan Stanley reportedly flagged several semiconductor and AI infrastructure stocks as attractive after the memory-equity selloff, supporting a broader rebound in the group. Banking giant names 7 stocks to buy after memory equities sell-off
• Positive Sentiment: Recent commentary remains constructive on Sandisk’s earnings power, citing strong revenue growth, higher margins, and its position in AI storage demand. Sandisk: The Math Supporting A Rare Opportunity
• Positive Sentiment: Additional bullish coverage says Sandisk remains attractive despite its big 2026 run, pointing to ongoing memory-chip shortage conditions. Sandisk: Even After a 580% Rise in 2026, It’s Still a Screaming Buy (NASDAQ: SNDK)

Insider Transactions at Sandisk

In other news, EVP Alper Ilkbahar sold 2,000 shares of the 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 transaction, the executive vice president owned 52,677 shares in the company, valued at approximately $92,531,364.66. This represents a 3.66% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Michael Pokorny sold 2,446 shares of Sandisk stock in a transaction dated Tuesday, May 12th. The stock was 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 directly owned 22,375 shares of the company’s stock, valued at approximately $31,910,777.50. This trade represents a 9.85% decrease in their position. 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 over the last 90 days. 0.21% of the stock is owned by insiders.

Sandisk Trading Up 2.7%

Sandisk stock opened at $1,390.95 on Tuesday. The business’s 50 day simple moving average is $1,743.12 and its 200 day simple moving average is $1,056.26. Sandisk Corporation has a 12 month low of $40.10 and a 12 month high of $2,354.39. The company has a market cap of $205.99 billion, a price-to-earnings ratio of 48.35 and a beta of 4.74.

Sandisk (NASDAQ:SNDK) last released its earnings results on Thursday, April 30th. The data storage provider reported $23.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $14.17 by $9.24. The business 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%.The business’s quarterly revenue was up 251.0% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.30) earnings per share. Sandisk has set its Q4 2026 guidance at 30.000-33.000 EPS. As a group, equities research analysts forecast that Sandisk Corporation will post 64.52 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on SNDK. Royal Bank Of Canada lifted their price target on Sandisk from $650.00 to $1,000.00 and gave the stock a “sector perform” rating in a report on Friday, May 1st. Wells Fargo & Company raised their target price on Sandisk from $975.00 to $1,250.00 and gave the company an “equal weight” rating in a research report on Friday, May 1st. Sanford C. Bernstein lifted 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. UBS Group set a $1,700.00 price target on shares of Sandisk in a report on Monday, May 4th. Finally, Wedbush increased their price target on shares of Sandisk from $1,200.00 to $2,000.00 and gave the company an “outperform” rating in a research report on Thursday, July 9th. Two equities research analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $1,803.29.

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.