Principal Financial Group Inc. Buys New Shares in Sandisk Corporation $SNDK

Principal Financial Group Inc. purchased a new position in Sandisk Corporation (NASDAQ:SNDK) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 661,899 shares of the data storage provider’s stock, valued at approximately $74,265,000. Principal Financial Group Inc. owned about 0.45% of Sandisk as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Parnassus Investments LLC acquired a new position in shares of Sandisk in the 3rd quarter worth $103,815,000. Deprince Race & Zollo Inc. acquired a new position in shares of Sandisk in the 3rd quarter valued at $39,480,000. Teacher Retirement System of Texas purchased a new position in Sandisk in the 3rd quarter worth about $32,770,000. AIGH Capital Management LLC acquired a new stake in Sandisk during the 3rd quarter worth about $31,416,000. Finally, New York State Teachers Retirement System acquired a new stake in shares of Sandisk during the third quarter valued at approximately $13,546,000.

Sandisk News Roundup

Here are the key news stories impacting Sandisk this week:

• Positive Sentiment: Blowout Q2 results and bullish guidance — SanDisk reported ~$3.03B revenue (+61% YoY), EPS well above estimates and rapidly expanding gross margins; management guided materially higher near-term margins and EPS, signaling sustained AI-driven storage demand. The Memory Supercycle Is Here—2 Winners From 1 Breakup
• Positive Sentiment: Analyst upgrades and price-target raises are piling up — multiple firms (Cantor Fitzgerald, Citigroup, Barclays, UBS, Bernstein) jumped to buy/overweight ratings and materially higher targets, reflecting renewed confidence in SanDisk’s earnings power and justifying upside for the stock. Sandisk (SNDK) Soars as Berstein Hikes PT by 72%
• Positive Sentiment: Supply continuity secured — SanDisk extended its joint venture with Kioxia, lowering a key operational risk around wafer supply and supporting the firm’s ability to capture extended AI-driven demand. SanDisk Kioxia Venture Extension Supports AI Flash Growth And Valuation Gap
• Neutral Sentiment: Macro rotation into hardware/edge AI — several pieces argue the market is shifting from chips/software to device and server vendors (the “AI in a box” or hardware supercycle thesis), which supports higher demand for SanDisk products but distributes gains across OEMs like Dell and HP. The AI in a Box Trade: Hardware Is the Next Boom
• Neutral Sentiment: Market technicals and broader indices — futures and broader market strength are providing supportive tape, but this is a secondary driver versus company-specific earnings and guidance. Stock Market Today: S&P 500, Nasdaq 100 Futures Gain Amid Gold, Silver Rebound—Palantir Technologies, SanDisk, PepsiCo In Focus
• Negative Sentiment: Technical extreme and crowding risk — social-media enthusiasm and technical indicators show the stock is far above long-term averages (large percent above the 200?day MA) and hard-to-borrow/short-interest data suggest elevated crowding and vulnerability to a sharp pullback. SanDisk Stock (SNDK) Opinions on Q2 Earnings Beat

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on SNDK. Citigroup boosted their target price on shares of Sandisk from $490.00 to $750.00 and gave the company a “buy” rating in a research note on Monday. Wells Fargo & Company increased their price objective on Sandisk from $230.00 to $380.00 and gave the stock an “equal weight” rating in a research note on Thursday, January 15th. Royal Bank Of Canada reaffirmed a “sector perform” rating and set a $650.00 target price on shares of Sandisk in a research note on Friday. Sanford C. Bernstein increased their price target on shares of Sandisk from $300.00 to $580.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 14th. Finally, Susquehanna boosted their price target on shares of Sandisk from $250.00 to $300.00 and gave the company a “positive” rating in a report on Monday, December 8th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $542.85.

Sandisk Price Performance

Shares of NASDAQ:SNDK opened at $695.51 on Wednesday. The stock has a market capitalization of $102.64 billion and a P/E ratio of -91.64. The business has a 50-day moving average of $327.14 and a two-hundred day moving average of $189.56. Sandisk Corporation has a fifty-two week low of $27.89 and a fifty-two week high of $725.00. The company has a debt-to-equity ratio of 0.06, a current ratio of 3.11 and a quick ratio of 1.92.

Sandisk (NASDAQ:SNDK) last posted its earnings results on Thursday, January 29th. The data storage provider reported $6.20 earnings per share for the quarter, topping the consensus estimate of $3.31 by $2.89. Sandisk had a positive return on equity of 10.11% and a negative net margin of 11.66%.The firm had revenue of $3.03 billion during the quarter, compared to analyst estimates of $2.67 billion. The firm’s revenue for the quarter was up 61.2% on a year-over-year basis.

Insider Activity at Sandisk

In other Sandisk news, Director Necip Sayiner sold 1,271 shares of the firm’s stock in a transaction on Wednesday, December 3rd. The shares were sold at an average price of $195.14, for a total value of $248,022.94. Following the sale, the director directly owned 3,479 shares in the company, valued at $678,892.06. This trade represents a 26.76% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.21% of the stock is currently owned by company insiders.

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.