Sumitomo Mitsui Trust Group Inc. Boosts Stake in Sandisk Corporation $SNDK

Sumitomo Mitsui Trust Group Inc. increased its stake in Sandisk Corporation (NASDAQ:SNDK) by 134.2% during the first quarter, Holdings Channel.com reports. The firm owned 40,436 shares of the data storage provider’s stock after purchasing an additional 23,167 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in Sandisk were worth $25,691,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently bought and sold shares of the stock. State Street Corp purchased a new stake in Sandisk in the third quarter worth about $491,053,000. Arrowstreet Capital Limited Partnership purchased a new position in shares of Sandisk during the 3rd quarter valued at about $297,293,000. Norges Bank bought a new position in shares of Sandisk during the 4th quarter valued at approximately $518,889,000. Bank of America Corp DE bought a new position in shares of Sandisk during the 3rd quarter valued at approximately $190,425,000. Finally, AQR Capital Management LLC bought a new position in shares of Sandisk during the 3rd quarter valued at approximately $163,057,000.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the stock. Royal Bank Of Canada lifted their price target on shares of Sandisk from $650.00 to $1,000.00 and gave the company a “sector perform” rating in a report on Friday, May 1st. Sanford C. Bernstein increased their price objective on shares of Sandisk from $1,700.00 to $3,000.00 and gave the stock an “outperform” rating in a research note on Monday, June 29th. Wells Fargo & Company raised their price objective on shares of Sandisk from $975.00 to $1,250.00 and gave the company an “equal weight” rating in a research report on Friday, May 1st. Morgan Stanley lifted their target price on shares of Sandisk from $1,100.00 to $1,750.00 and gave the company an “overweight” rating in a research note on Wednesday, June 3rd. Finally, Zacks Research downgraded shares of Sandisk from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 1st. Two investment analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $1,765.19.

Key Headlines Impacting Sandisk

Here are the key news stories impacting Sandisk this week:

• Positive Sentiment: Evercore ISI raised its price target on SanDisk to $3,100 and kept an Outperform rating, reinforcing the view that the company still has significant upside. SanDisk Stock Price Forecast: Why Evercore’s Amit Daryanani Raised SNDK’s Price Target by More Than 120%
• Positive Sentiment: Goldman Sachs also nearly doubled its SanDisk price target, adding to the bullish analyst sentiment around the stock. Goldman Sachs nearly doubles SanDisk stock price target for 2026
• Positive Sentiment: SanDisk was added to Zacks’ Rank #1 (Strong Buy) momentum list, and another Zacks piece said it still screens as cheap despite its huge year-to-date rally, which may attract value and momentum buyers. Best Momentum Stocks to Buy for July 13th
• Positive Sentiment: Commentary from strategists and analysts suggested the recent tech pullback could be a buying opportunity for SanDisk, with continued confidence in AI-driven demand and long-term storage growth. This Strategist Says the Tech Wreck Is Your Buy Signal: Micron and SanDisk on Sale?
• Neutral Sentiment: Several market updates focused on broader macro and pre-market weakness, including a red futures session and upcoming inflation data, which added to risk-off trading across tech stocks. Pre-Market in Red
• Negative Sentiment: SK Hynix’s weak outlook sparked a sector-wide selloff in memory names such as SanDisk, Micron, and Western Digital, weighing on SNDK shares today. Micron, SanDisk, Western Digital Fall 6% as SK Hynix’s Weak Outlook Rattles Memory Stocks

Insiders Place Their Bets

In other news, insider Bernard Shek sold 600 shares of Sandisk 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 completion of the sale, the insider directly owned 31,515 shares in the company, valued at approximately $65,803,320. This trade represents a 1.87% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Alper Ilkbahar sold 2,000 shares of Sandisk stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $1,756.58, for a total transaction of $3,513,160.00. Following the sale, the executive vice president owned 52,677 shares of the company’s stock, valued at $92,531,364.66. The trade was a 3.66% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 6,225 shares of company stock valued at $10,166,297 over the last quarter. 0.21% of the stock is currently owned by insiders.

Sandisk Stock Performance

NASDAQ SNDK opened at $1,673.97 on Tuesday. The stock has a 50 day moving average price of $1,737.85 and a 200-day moving average price of $1,011.93. Sandisk Corporation has a one year low of $40.10 and a one year high of $2,354.39. The company has a market capitalization of $247.90 billion, a P/E ratio of 58.18 and a beta of 4.74.

Sandisk (NASDAQ:SNDK) last issued its quarterly earnings data on Thursday, April 30th. The data storage provider reported $23.41 earnings per share for the quarter, topping the consensus estimate of $14.17 by $9.24. The company 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%.The company’s revenue was up 251.0% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.30) earnings per share. Sandisk has set its Q4 2026 guidance at 30.000-33.000 EPS. As a group, equities analysts predict that Sandisk Corporation will post 64.95 EPS for the current fiscal year.

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.