Sandisk Corporation $SNDK Stock Holdings Raised by First Citizens Bank & Trust Co.

First Citizens Bank & Trust Co. boosted its position in Sandisk Corporation (NASDAQ:SNDK) by 1,509.6% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,038 shares of the data storage provider’s stock after buying an additional 4,725 shares during the period. First Citizens Bank & Trust Co.’s holdings in Sandisk were worth $8,766,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in SNDK. Focus Financial Network Inc. boosted its stake in Sandisk by 42.4% during the 3rd quarter. Focus Financial Network Inc. now owns 27,785 shares of the data storage provider’s stock valued at $48,343,000 after purchasing an additional 8,277 shares during the last quarter. Salem Investment Counselors Inc. raised its stake in shares of Sandisk by 3.0% in the third quarter. Salem Investment Counselors Inc. now owns 2,912 shares of the data storage provider’s stock worth $5,067,000 after purchasing an additional 86 shares during the last quarter. Signal Advisors Wealth LLC raised its stake in shares of Sandisk by 2.5% in the third quarter. Signal Advisors Wealth LLC now owns 417 shares of the data storage provider’s stock worth $726,000 after purchasing an additional 10 shares during the last quarter. UNICOM Systems Inc. lifted its holdings in shares of Sandisk by 9.6% in the third quarter. UNICOM Systems Inc. now owns 64,100 shares of the data storage provider’s stock valued at $111,527,000 after purchasing an additional 5,600 shares in the last quarter. Finally, Forvis Mazars Wealth Advisors LLC lifted its holdings in shares of Sandisk by 45.4% in the third quarter. Forvis Mazars Wealth Advisors LLC now owns 266 shares of the data storage provider’s stock valued at $463,000 after purchasing an additional 83 shares in the last quarter.

Key Stories Impacting Sandisk

Here are the key news stories impacting Sandisk this week:

• Positive Sentiment: Credit-rating upgrade supports the balance sheet. S&P Global upgraded SanDisk to BBB from BB+, citing stronger cash flows and rising AI-driven memory demand. The upgrade could reduce financing costs and reinforce confidence in the company’s financial position. SanDisk Stock Upgraded to BBB by S&P Global
• Positive Sentiment: Bullish long-term views remain intact. Nicholas Mugalli sees SNDK reaching $3,000 over two years, arguing that projected earnings could leave the stock trading below nine times earnings at that price. Other coverage continues to identify SanDisk as an attractive AI-storage and NAND beneficiary. SanDisk Has More Upside
• Positive Sentiment: Some analysts view the selloff as premature. A Seeking Alpha analysis maintains a Buy view, citing robust NAND pricing, contracts worth approximately $93.9 billion and $16.5 billion in financial guarantees. SanDisk also received recognition for an AI-storage NAND breakthrough. SanDisk: The First Crack in the Memory Supercycle
• Neutral Sentiment: Upcoming earnings are a key near-term test. SanDisk is scheduled to report fiscal first-quarter 2027 results on October 29. Management previously guided to $10.3 billion-$10.8 billion in revenue and $44-$46 in non-GAAP EPS, making pricing, margins and demand trends central to the next market reaction. SanDisk Pre-Earnings Analysis
• Negative Sentiment: China competition is the dominant selloff catalyst. Reports that CXMT plans to target high-end server memory have triggered a broad decline across memory stocks, including SanDisk, even though SanDisk does not manufacture DRAM. Investors fear the development could eventually intensify competition across the broader memory ecosystem. Memory Stocks Extend Slide Following News of Design Breakthrough in China
• Negative Sentiment: Valuation and cycle concerns are magnifying volatility. Investors are questioning whether recent earnings and cash-flow strength, which benefited substantially from higher NAND prices, can persist. AI-funding worries, sector-wide risk reduction and reported insider selling are adding to the cautious tone. Micron and SanDisk Look Cheaper by the Day

Sandisk Price Performance

Shares of SNDK opened at $1,482.33 on Wednesday. The firm has a market cap of $214.24 billion, a PE ratio of 20.33, a PEG ratio of 0.15 and a beta of 5.23. The stock’s fifty day moving average price is $1,598.08 and its two-hundred day moving average price is $1,487.22. Sandisk Corporation has a 1 year low of $120.96 and a 1 year high of $2,354.39.

Sandisk (NASDAQ:SNDK) last announced its quarterly earnings results on Wednesday, August 5th. The data storage provider reported $39.25 EPS for the quarter, beating analysts’ consensus estimates of $33.28 by $5.97. Sandisk had a net margin of 56.47% and a return on equity of 87.84%. The company had revenue of $8.96 billion for the quarter. During the same quarter in the previous year, the company posted $0.29 earnings per share. The business’s quarterly revenue was up 371.6% compared to the same quarter last year. Sandisk has set its Q1 2027 guidance at 44.000-46.000 EPS. Sell-side analysts anticipate that Sandisk Corporation will post 208.94 earnings per share for the current fiscal year.

Sandisk announced that its Board of Directors has initiated a share buyback plan on Wednesday, August 5th that allows the company to repurchase $14.00 billion in outstanding shares. This repurchase authorization allows the data storage provider to purchase up to 6.6% of its stock through open market purchases. Share repurchase plans are generally a sign that the company’s leadership believes its stock is undervalued.

Insider Buying and Selling

In related news, CFO Luis Visoso sold 1,000 shares of Sandisk stock in a transaction on Tuesday, September 15th. The stock was sold at an average price of $1,568.83, for a total transaction of $1,568,830.00. Following the completion of the sale, the chief financial officer owned 130,976 shares of the company’s stock, valued at approximately $205,479,078.08. This trade represents a 0.76% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Alper Ilkbahar sold 4,712 shares of Sandisk stock in a transaction dated Thursday, September 3rd. The shares were sold at an average price of $1,540.58, for a total value of $7,259,212.96. Following the sale, the executive vice president owned 44,134 shares of the company’s stock, valued at approximately $67,991,957.72. This trade represents a 9.65% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders have sold 77,899 shares of company stock valued at $121,159,122. Corporate insiders own 0.29% of the company’s stock.

Wall Street Analysts Forecast Growth

SNDK has been the subject of several recent research reports. Susquehanna decreased their price target on Sandisk from $3,050.00 to $2,745.00 and set a “positive” rating for the company in a report on Thursday, August 6th. Argus raised Sandisk from a “hold” rating to a “buy” rating and set a $1,600.00 price target for the company in a research report on Monday, August 10th. Jefferies Financial Group restated a “buy” rating and set a $1,400.00 price objective (up from $1,000.00) on shares of Sandisk in a research note on Thursday, August 6th. China Renaissance lifted their price objective on shares of Sandisk from $2,000.00 to $2,250.00 and gave the stock a “buy” rating in a report on Wednesday, August 19th. Finally, Wells Fargo & Company lifted their price objective on shares of Sandisk from $1,400.00 to $1,550.00 and gave the stock an “equal weight” rating in a report on Thursday, August 13th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $2,120.65.

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.