The Manufacturers Life Insurance Company Sells 17,468 Shares of Sandisk Corporation $SNDK

The Manufacturers Life Insurance Company decreased its holdings in shares of Sandisk Corporation (NASDAQ:SNDK) by 18.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 77,923 shares of the data storage provider’s stock after selling 17,468 shares during the period. The Manufacturers Life Insurance Company’s holdings in Sandisk were worth $49,508,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Allworth Financial LP increased its holdings in Sandisk by 84.2% in the fourth quarter. Allworth Financial LP now owns 4,521 shares of the data storage provider’s stock valued at $1,073,000 after buying an additional 2,067 shares in the last quarter. Tredje AP fonden purchased a new stake in shares of Sandisk during the 4th quarter worth approximately $7,821,000. ProShare Advisors LLC boosted its stake in shares of Sandisk by 1,301.5% during the 4th quarter. ProShare Advisors LLC now owns 33,637 shares of the data storage provider’s stock worth $7,985,000 after acquiring an additional 31,237 shares in the last quarter. FourThought Financial Partners LLC purchased a new stake in shares of Sandisk during the 4th quarter worth approximately $422,000. Finally, North Dakota State Investment Board acquired a new stake in shares of Sandisk in the 4th quarter worth approximately $1,127,000.

Analyst Ratings Changes

SNDK has been the subject of several research analyst reports. Bank of America raised their price objective on Sandisk from $2,100.00 to $2,500.00 and gave the company a “buy” rating in a research note on Wednesday, July 1st. Morgan Stanley upped their target price on Sandisk from $1,100.00 to $1,750.00 and gave the company an “overweight” rating in a report on Wednesday, June 3rd. Royal Bank Of Canada upped their target price on Sandisk from $650.00 to $1,000.00 and gave the company a “sector perform” rating in a report on Friday, May 1st. Citigroup raised their price target on Sandisk from $2,025.00 to $2,500.00 and gave the company a “buy” rating in a research report on Thursday, June 25th. Finally, Zacks Research lowered shares of Sandisk from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 1st. Two investment analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $1,811.38.

Sandisk Price Performance

Shares of Sandisk stock opened at $1,279.96 on Friday. Sandisk Corporation has a 1 year low of $40.10 and a 1 year high of $2,354.39. The company has a market capitalization of $189.55 billion, a P/E ratio of 44.49 and a beta of 4.74. The business has a 50 day moving average price of $1,734.42 and a 200 day moving average price of $1,115.89.

Sandisk (NASDAQ:SNDK) last posted its earnings results on Thursday, April 30th. The data storage provider reported $23.41 earnings per share (EPS) 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 return on equity of 44.06% and a net margin of 34.19%.Sandisk’s quarterly revenue was up 251.0% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.30) EPS. As a group, research analysts expect that Sandisk Corporation will post 64.52 EPS for the current fiscal year.

Sandisk News Roundup

Here are the key news stories impacting Sandisk this week:

• Positive Sentiment: AI spending optimism returned. Microsoft’s commitment to approximately $190 billion in capital expenditures helped ease concerns that cloud and AI infrastructure investment was slowing. The news lifted expectations for demand for data-center storage and memory products, including SanDisk’s enterprise NAND solutions. Microsoft Committed $190B CapEx and Pulled SanDisk Out of Their Slump
• Positive Sentiment: Memory-sector supply conditions appeared more favorable. Samsung Electronics reported a significant increase in chip profit and signed multiyear supply agreements with data-center operators, while warning that chip shortages could persist through 2028. That supported a broader rebound in memory stocks and reinforced the potential for stronger pricing. Why Micron, SanDisk, SK Hynix and Other Memory Stocks Are Roaring Back
• Positive Sentiment: Investors are positioning ahead of fiscal fourth-quarter earnings on August 5. Analysts cited the possibility of another earnings beat, with consensus estimates calling for roughly $33.38 per share in EPS. SanDisk has reportedly exceeded earnings and revenue expectations for five consecutive quarters, while long-term contracts and approximately $42 billion in commitments support visibility into future demand. SanDisk Stock Is Gaining Thursday: What’s Going On?
• Neutral Sentiment: The rebound follows an extreme decline. SNDK had fallen roughly 57% from its peak and was considered deeply oversold, encouraging technical traders and investors seeking a recovery. However, the stock’s exceptionally high beta indicates that price swings may remain substantial. Is SanDisk Stock Crash Over?
• Negative Sentiment: Risks remain significant. Morningstar reportedly sees the AI boom as potentially finite before a possible downturn, while investors continue to worry about Chinese competition, another NAND oversupply cycle and the stock’s elevated valuation. Earnings guidance and management’s outlook will be critical to determining whether the rebound can continue. SanDisk Falls 54%: Morningstar Sees Finite AI Boom

Insider Buying and Selling

In related news, insider Bernard Shek sold 600 shares of the stock in a transaction on Wednesday, July 1st. The stock was sold at an average price of $2,088.00, for a total transaction of $1,252,800.00. Following the sale, the insider owned 31,515 shares of the company’s stock, valued at $65,803,320. This trade represents a 1.87% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Alper Ilkbahar sold 2,000 shares of the stock in a transaction on Monday, June 1st. The shares were sold at an average price of $1,756.58, for a total value of $3,513,160.00. Following the sale, the executive vice president directly owned 52,677 shares in the company, valued at approximately $92,531,364.66. The trade was a 3.66% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 6,225 shares of company stock worth $10,166,297. 0.21% of the stock is currently owned by corporate insiders.

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.