State of New Jersey Common Pension Fund D Invests $5.58 Million in Sandisk Corporation $SNDK

State of New Jersey Common Pension Fund D purchased a new stake in Sandisk Corporation (NASDAQ:SNDK) during the third quarter, HoldingsChannel.com reports. The firm purchased 49,693 shares of the data storage provider’s stock, valued at approximately $5,576,000.

Several other hedge funds have also recently bought and sold shares of the stock. CVA Family Office LLC bought a new stake in shares of Sandisk during the third quarter worth approximately $28,000. Covestor Ltd acquired a new stake in Sandisk during the 3rd quarter worth approximately $37,000. Cromwell Holdings LLC bought a new stake in Sandisk in the 3rd quarter valued at $39,000. True Wealth Design LLC acquired a new position in Sandisk in the 3rd quarter valued at $40,000. Finally, Mirae Asset Global Investments Co. Ltd. bought a new position in Sandisk during the 3rd quarter worth $41,000.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on SNDK. Raymond James Financial raised shares of Sandisk from a “market perform” rating to an “outperform” rating and set a $725.00 target price for the company in a research report on Friday, January 30th. Zacks Research downgraded shares of Sandisk from a “strong-buy” rating to a “hold” rating in a report on Thursday, January 22nd. Wells Fargo & Company raised their target price on shares of Sandisk from $230.00 to $380.00 and gave the stock an “equal weight” rating in a report on Thursday, January 15th. UBS Group set a $1,000.00 price target on Sandisk in a research note on Monday, February 2nd. Finally, Mizuho set a $600.00 price target on Sandisk in a research report on Tuesday, January 27th. One research 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 company’s stock. According to data from MarketBeat, Sandisk presently has a consensus rating of “Moderate Buy” and a consensus target price of $542.85.

Sandisk Stock Performance

NASDAQ SNDK opened at $600.40 on Thursday. The firm’s 50 day simple moving average is $410.63 and its 200 day simple moving average is $231.13. The firm has a market capitalization of $88.60 billion and a price-to-earnings ratio of -79.10. The company has a current ratio of 3.11, a quick ratio of 1.92 and a debt-to-equity ratio of 0.06. Sandisk Corporation has a 1 year low of $27.89 and a 1 year high of $725.00.

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

Trending Headlines about Sandisk

Here are the key news stories impacting Sandisk this week:

• Positive Sentiment: Traders flagged a Power Inflow alert — a bullish order-flow indicator that signals heavy buying (often institutional). Market participants tracking flow data see this as a near-term technical catalyst supporting the rally. Sandisk Shares Rise Over 3% Following Key Trading Signal
• Positive Sentiment: Strong sector cues: Kioxia’s earnings beat lifted memory stocks broadly, which benefits Sandisk as investors rotate into NAND/flash names on indications of tighter supply and stronger demand. As Kioxia earnings kick memory stocks into gear, should you buy SanDisk here?
• Positive Sentiment: Fundamental demand tailwinds: coverage notes that AI hyperscalers and a NAND shortage are supporting Sandisk’s revenue growth outlook, underpinning stock momentum. Sandisk Rides NAND Shortage As AI Hyperscalers Lock In Supply
• Neutral Sentiment: Price action shows a rebound from early weakness after the offering news — some buyers stepped in after the dip, reducing immediate downside but not removing the overhang from the secondary sale. SanDisk Stock Fights Back From Early Losses After Offering
• Negative Sentiment: Western Digital announced a planned sale of roughly $3.17B of Sandisk shares in a secondary offering; Sandisk won’t receive proceeds. The added supply and headline risk triggered an earlier pullback and remains a near-term overhang on the stock. Western Digital to sell $3.17 billion stake in Sandisk
• Negative Sentiment: Business Wire filings show the secondary offering was launched and priced (5,821,135 shares at $545 per share); though Sandisk is not issuing stock, the sale by a major shareholder increases float and can pressure near-term multiples. Sandisk Announces Pricing of Secondary Offering of Common Stock

Insider Buying and Selling at Sandisk

In other Sandisk news, Director Necip Sayiner sold 1,271 shares of Sandisk stock in a transaction dated Wednesday, December 3rd. The stock was sold at an average price of $195.14, for a total value of $248,022.94. Following the transaction, the director owned 3,479 shares in the company, valued at $678,892.06. The trade was a 26.76% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.21% of the stock is currently owned by corporate 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.