Trust Asset Management LLC Acquires New Position in Sandisk Corporation $SNDK

Trust Asset Management LLC acquired a new stake in Sandisk Corporation (NASDAQ:SNDK) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 1,551 shares of the data storage provider’s stock, valued at approximately $985,000.

Other hedge funds also recently bought and sold shares of the company. State Street Corp grew its position in shares of Sandisk by 20.7% in the fourth quarter. State Street Corp now owns 5,281,522 shares of the data storage provider’s stock valued at $1,253,728,000 after purchasing an additional 904,933 shares in the last quarter. Geode Capital Management LLC lifted its position in Sandisk by 44.9% during the fourth quarter. Geode Capital Management LLC now owns 3,655,860 shares of the data storage provider’s stock worth $866,310,000 after buying an additional 1,133,276 shares in the last quarter. Arrowstreet Capital Limited Partnership lifted its position in Sandisk by 31.3% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 3,478,002 shares of the data storage provider’s stock worth $825,608,000 after buying an additional 828,332 shares in the last quarter. Morgan Stanley lifted its position in Sandisk by 7.2% during the fourth quarter. Morgan Stanley now owns 2,970,361 shares of the data storage provider’s stock worth $705,105,000 after buying an additional 199,545 shares in the last quarter. Finally, Norges Bank acquired a new position in Sandisk during the fourth quarter worth $518,889,000.

Trending Headlines about Sandisk

Here are the key news stories impacting Sandisk this week:

• Positive Sentiment: Micron’s strong quarterly results and bullish outlook boosted confidence in the broader AI memory market, lifting Sandisk alongside other storage stocks. Micron’s Blowout Q3 Report Ripples Through Memory Stocks SanDisk, Western Digital
• Positive Sentiment: Citi raised its price target on Sandisk to $2,500 and kept a Buy rating, citing stronger demand trends and improving fundamentals for the flash-storage maker. Citi Just Raised Its Price Target on SanDisk Stock. Here’s Why.
• Positive Sentiment: Analyst commentary continues to frame Sandisk as a momentum and AI-memory beneficiary, with Wall Street upgrades and bullish notes helping support the stock’s surge. Wall Street sets Sandisk stock price target
• Neutral Sentiment: Short-interest data was reported as 0 shares, making the June update effectively non-informative for trading sentiment. Short interest update

Insider Transactions at Sandisk

In other news, EVP Alper Ilkbahar sold 2,000 shares of the firm’s stock in a transaction 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 completion of the transaction, the executive vice president directly owned 52,677 shares in the company, valued at $92,531,364.66. This trade represents a 3.66% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Necip Sayiner sold 579 shares of Sandisk stock in a transaction on Friday, May 8th. The shares were sold at an average price of $1,503.11, for a total value of $870,300.69. Following the completion of the sale, the director directly owned 2,900 shares of the company’s stock, valued at $4,359,019. The trade was a 16.64% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 5,625 shares of company stock worth $8,913,497 in the last ninety days. 0.21% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several analysts have issued reports on SNDK shares. Cantor Fitzgerald upped their target price on Sandisk from $1,800.00 to $2,900.00 and gave the company an “overweight” rating in a report on Monday, June 8th. Barclays upgraded Sandisk from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $1,200.00 to $2,300.00 in a report on Tuesday, May 26th. Jefferies Financial Group reissued a “buy” rating and set a $1,400.00 price target on shares of Sandisk in a research report on Friday, May 1st. Wedbush upped their price objective on shares of Sandisk from $740.00 to $1,200.00 and gave the company an “outperform” rating in a report on Wednesday, April 29th. Finally, Susquehanna raised their price objective on shares of Sandisk from $2,000.00 to $3,250.00 and gave the stock a “positive” rating in a research report on Friday, May 29th. Three analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $1,603.29.

Sandisk Price Performance

Shares of SNDK opened at $2,335.00 on Friday. The firm has a 50-day simple moving average of $1,522.03 and a two-hundred day simple moving average of $872.58. The stock has a market cap of $345.79 billion, a PE ratio of 81.16 and a beta of 4.87. Sandisk Corporation has a 1-year low of $40.10 and a 1-year high of $2,354.39.

Sandisk (NASDAQ:SNDK) last issued its quarterly earnings data on Thursday, April 30th. The data storage provider reported $23.41 EPS for the quarter, topping the consensus estimate of $14.17 by $9.24. The firm had revenue of $5.95 billion for the quarter. Sandisk had a net margin of 34.19% and a return on equity of 44.06%. The business’s revenue was up 251.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.30) earnings per share. Sandisk has set its Q4 2026 guidance at 30.000-33.000 EPS. As a group, sell-side analysts expect that Sandisk Corporation will post 64.01 earnings per share for the current fiscal year.

Sandisk Company 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.