Empowered Funds LLC Boosts Stake in Sandisk Corporation $SNDK

Empowered Funds LLC boosted its holdings in Sandisk Corporation (NASDAQ:SNDK) by 292.7% in the 1st quarter, HoldingsChannel reports. The fund owned 32,842 shares of the data storage provider’s stock after acquiring an additional 24,479 shares during the quarter. Empowered Funds LLC’s holdings in Sandisk were worth $20,866,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently bought and sold shares of SNDK. Valley Wealth Managers Inc. purchased a new stake in shares of Sandisk during the 1st quarter worth $25,000. Whittier Trust Co. purchased a new stake in Sandisk during the fourth quarter worth about $26,000. Greenline Wealth Management LLC acquired a new position in Sandisk during the fourth quarter worth about $26,000. Chung Wu Investment Group LLC purchased a new stake in shares of Sandisk during the 4th quarter worth approximately $27,000. Finally, IMG Wealth Management Inc. purchased a new stake in Sandisk during the first quarter worth $29,000.

Trending Headlines about Sandisk

Here are the key news stories impacting Sandisk this week:

• Positive Sentiment: AI infrastructure demand continues to support Sandisk’s memory and data-storage growth. One analysis identifies Sandisk as an AI beneficiary that has outperformed NVIDIA, while its latest reported quarter showed revenue growth of 251% year over year and earnings well above consensus. 2 AI Stocks That Beat NVIDIA – and Could Soar Even Higher
• Neutral Sentiment: Investors are looking ahead to Sandisk’s next earnings report, with the company’s strong results and AI-related demand offering potential support, but the stock’s outlook remains highly dependent on continued growth in memory pricing and demand.
• Negative Sentiment: Chip stocks extended their pullback as concerns about an AI bubble, rising infrastructure costs and stretched expectations weighed on the Nasdaq and the broader AI trade. Chip Stocks Extend Pullback Amid AI Bubble Fears
• Negative Sentiment: China’s ChangXin Memory Technologies (CXMT) made a strong market debut, while reports of progress on domestically developed Chinese lithography equipment heightened fears that Chinese companies could close the technology gap in NAND and other memory products. Why are Micron, Sandisk, and SK Hynix stocks falling today?
• Negative Sentiment: Technical selling has accelerated after Sandisk’s extraordinary rally from its 2025 spinoff, leaving the shares more than 50% below their June peak and below key moving averages. Analysts and commentators warn that the retreat may reflect both profit-taking and a reset of overly optimistic expectations.

Sandisk Trading Down 14.2%

NASDAQ:SNDK opened at $1,096.10 on Wednesday. The firm’s fifty day simple moving average is $1,747.20 and its 200 day simple moving average is $1,104.73. Sandisk Corporation has a twelve month low of $40.10 and a twelve month high of $2,354.39. The firm has a market capitalization of $162.32 billion, a price-to-earnings ratio of 38.10 and a beta of 4.74.

Sandisk (NASDAQ:SNDK) last released its quarterly earnings data on Thursday, April 30th. The data storage provider reported $23.41 EPS for the quarter, beating 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 for the quarter was up 251.0% compared to the same quarter last year. During the same period last year, the business earned ($0.30) earnings per share. Sandisk has set its Q4 2026 guidance at 30.000-33.000 EPS. On average, analysts predict that Sandisk Corporation will post 64.52 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the stock. Raymond James Financial restated an “outperform” rating and set a $1,470.00 target price on shares of Sandisk in a report on Friday, May 1st. Wells Fargo & Company lifted their price objective on Sandisk from $1,250.00 to $1,620.00 and gave the stock an “equal weight” rating in a research report on Wednesday, July 22nd. Royal Bank Of Canada increased 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. Sanford C. Bernstein boosted their price target on Sandisk from $1,700.00 to $3,000.00 and gave the stock an “outperform” rating in a report on Monday, June 29th. Finally, Morgan Stanley increased their price objective on Sandisk from $1,100.00 to $1,750.00 and gave the company an “overweight” rating in a research note on Wednesday, June 3rd. Two 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 stock presently has an average rating of “Moderate Buy” and an average price target of $1,811.38.

Insider Buying and Selling

In related news, EVP Alper Ilkbahar sold 2,000 shares of the business’s stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $1,756.58, for a total transaction of $3,513,160.00. Following the transaction, the executive vice president directly owned 52,677 shares of the company’s stock, valued at approximately $92,531,364.66. The trade was a 3.66% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Necip Sayiner sold 579 shares of the company’s stock in a transaction that occurred on Friday, May 8th. The stock was sold at an average price of $1,503.11, for a total value of $870,300.69. Following the completion of the transaction, the director owned 2,900 shares of the company’s stock, valued at approximately $4,359,019. This represents a 16.64% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 6,225 shares of company stock valued at $10,166,297. Corporate insiders own 0.21% of the company’s stock.

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.