Polar Asset Management Partners Inc. Makes New Investment in Sandisk Corporation $SNDK

Polar Asset Management Partners Inc. purchased a new stake in shares of Sandisk Corporation (NASDAQ:SNDK) during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund purchased 2,147 shares of the data storage provider’s stock, valued at approximately $241,000.

A number of other hedge funds have also modified their holdings of SNDK. Vanguard Group Inc. purchased a new stake in Sandisk in the third quarter valued at approximately $1,970,388,000. State Street Corp acquired a new position in Sandisk in the 3rd quarter worth approximately $491,053,000. Arrowstreet Capital Limited Partnership purchased a new position in Sandisk during the 3rd quarter worth approximately $297,293,000. Bank of America Corp DE acquired a new stake in Sandisk during the 3rd quarter valued at approximately $190,425,000. Finally, AQR Capital Management LLC acquired a new stake in Sandisk during the 3rd quarter valued at approximately $163,057,000.

Sandisk Stock Performance

Shares of NASDAQ SNDK opened at $709.71 on Friday. The company has a market capitalization of $104.75 billion and a PE ratio of -93.51. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.92 and a current ratio of 3.11. The company’s fifty day moving average price is $580.47 and its 200 day moving average price is $321.34. Sandisk Corporation has a 1 year low of $27.89 and a 1 year high of $777.60.

Sandisk (NASDAQ:SNDK) last released its quarterly earnings data on Thursday, January 29th. The data storage provider reported $6.20 earnings per share for the quarter, beating analysts’ consensus estimates of $3.31 by $2.89. Sandisk had a negative net margin of 11.66% and a positive return on equity of 10.11%. The company had revenue of $3.03 billion during the quarter, compared to analysts’ expectations of $2.67 billion. The company’s revenue was up 61.2% compared to the same quarter last year.

Insider Buying and Selling at Sandisk

In related news, Director Miyuki Suzuki sold 3,500 shares of the company’s stock in a transaction dated Wednesday, February 25th. The stock was sold at an average price of $627.53, for a total value of $2,196,355.00. Following the completion of the transaction, the director owned 9,907 shares of the company’s stock, valued at approximately $6,216,939.71. This represents a 26.11% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.21% of the stock is currently owned by corporate insiders.

Key Headlines Impacting Sandisk

Here are the key news stories impacting Sandisk this week:

• Positive Sentiment: Citi raised its price target to $875 and maintained a buy stance, signaling significant upside expectations and supporting the stock’s recent run. Benzinga / TickerReport on Citi price target raise
• Positive Sentiment: A Citi analyst also boosted earnings/volume forecasts, saying data?center NAND bit demand is “through the roof,” which underpins longer?term revenue prospects for SanDisk. TipRanks: Citi analyst hike
• Positive Sentiment: SanDisk recently hit all?time highs amid strong demand for AI?optimized storage, which helped push momentum and attracted momentum buyers ahead of this pullback. TipRanks: all?time high coverage
• Positive Sentiment: KGI Securities and other firms initiated/expanded coverage with constructive ratings, increasing institutional attention and potential buy?side interest. AmericanBankingNews: KGI initiates coverage
• Neutral Sentiment: Technical analysts flagged bullish patterns (golden cross on key moving averages) that can attract technical buyers but don’t guarantee sustained gains. 24/7 Wall St.: golden cross article
• Neutral Sentiment: Analyst/market commentary and media speculation about a potential stock split have circulated; such talk can boost retail interest but is speculative until management confirms. 24/7 Wall St.: stock split speculation
• Negative Sentiment: Profit?taking and a debate in the press — framed as “AI breakout or speculative bubble” — have driven a short?term pullback as investors reassess valuation after the rapid rise. 24/7 Wall St.: AI breakout vs bubble
• Negative Sentiment: Coverage noting intra?session drops and pre?market weakness highlights elevated volatility — short?term traders may exacerbate moves, increasing downside risk for momentum investors. MSN: what’s behind the drop

Analyst Upgrades and Downgrades

SNDK has been the topic of a number of research reports. Cantor Fitzgerald increased their price objective on shares of Sandisk from $550.00 to $800.00 and gave the stock an “overweight” rating in a research note on Friday, January 30th. KGI Securities assumed coverage on shares of Sandisk in a research report on Wednesday. They set an “outperform” rating and a $992.00 target price for the company. Barclays upped their price target on shares of Sandisk from $385.00 to $750.00 and gave the company an “equal weight” rating in a report on Monday, February 2nd. Raymond James Financial upgraded Sandisk from a “market perform” rating to an “outperform” rating and set a $725.00 price objective for the company in a research note on Friday, January 30th. Finally, Sanford C. Bernstein boosted their price objective on Sandisk from $300.00 to $580.00 and gave the company an “outperform” rating in a report on Wednesday, January 14th. Two research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $570.19.

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.