Arizona State Retirement System Boosts Stock Position in Sandisk Corporation $SNDK

Arizona State Retirement System grew its position in shares of Sandisk Corporation (NASDAQ:SNDK) by 3.8% during the 2nd quarter, Holdings Channel.com reports. The firm owned 39,709 shares of the data storage provider’s stock after acquiring an additional 1,467 shares during the period. Arizona State Retirement System’s holdings in Sandisk were worth $90,288,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. California State Teachers Retirement System boosted its stake in Sandisk by 235,032.6% in the second quarter. California State Teachers Retirement System now owns 380,392,755 shares of the data storage provider’s stock worth $864,910,419,000 after buying an additional 380,230,977 shares in the last quarter. BlackRock Inc. bought a new position in Sandisk during the second quarter valued at approximately $23,408,732,000. State Street Corp raised its stake in shares of Sandisk by 20.7% during the fourth quarter. State Street Corp now owns 5,281,522 shares of the data storage provider’s stock worth $1,253,728,000 after acquiring an additional 904,933 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of 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 acquiring an additional 1,133,276 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership lifted its holdings in shares of Sandisk by 31.3% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 3,478,002 shares of the data storage provider’s stock worth $825,608,000 after acquiring an additional 828,332 shares during the last quarter.

Key Stories Impacting Sandisk

Here are the key news stories impacting Sandisk this week:

• Positive Sentiment: S&P 100 inclusion may support additional demand. Sandisk will join the S&P 100 before trading opens on September 21, potentially prompting purchases by index-tracking funds and increasing the stock’s visibility among institutional investors. Sandisk Soars Nearly 12% Before Joining the S&P 100
• Positive Sentiment: AI-related memory demand remains the primary catalyst. Tight NAND supply and rising data-center investment are supporting pricing and demand expectations across memory-chip makers, helping drive Sandisk’s gains and making it a leading performer in leveraged technology ETFs. Why Are SanDisk, Micron, and SK Hynix Stocks Rising?
• Positive Sentiment: Cash-flow and contract arguments are attracting bullish investors. Analysts highlight Sandisk’s projected fiscal 2027 free cash flow, debt-free balance sheet, and approximately $93.9 billion in long-term agreements as evidence that its business may be becoming less dependent on short-term NAND pricing cycles. Sandisk: Don’t Overcomplicate The Simple, Free Cash Flow Is What Matters
• Neutral Sentiment: The rally’s durability is disputed. Sandisk has risen more than 500% this year and over 40% in the past month, leaving Wall Street forecasts and quantitative models at odds over whether earnings growth can justify the current valuation. SanDisk Stock Has Soared More Than 500% in 2026
• Negative Sentiment: Investors face elevated downside risk. Commentary warns that the stock may have peaked and that NAND remains a cyclical industry. A reversal in AI spending, memory pricing, or supply-demand conditions could expose Sandisk’s very high valuation and volatility. Sandisk Has Peaked

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $2,900.00 price objective on shares of Sandisk in a research note on Monday, August 10th. New Street Research set a $3,000.00 target price on shares of Sandisk in a research report on Thursday, August 6th. Royal Bank Of Canada boosted their price target on shares of Sandisk from $1,300.00 to $1,600.00 and gave the stock a “sector perform” rating in a research note on Friday, August 14th. Barclays upgraded shares of Sandisk from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $1,200.00 to $2,300.00 in a research report on Tuesday, May 26th. Finally, The Goldman Sachs Group reaffirmed a “buy” rating and set a $2,200.00 price objective on shares of Sandisk in a research note on Thursday, August 13th. Three investment analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, Sandisk has an average rating of “Buy” and an average price target of $1,998.14.

Sandisk Stock Down 0.1%

Shares of Sandisk stock traded down $2.01 on Tuesday, hitting $1,737.99. The stock had a trading volume of 11,124,220 shares, compared to its average volume of 16,128,618. Sandisk Corporation has a one year low of $69.57 and a one year high of $2,354.39. The stock has a market cap of $254.48 billion, a price-to-earnings ratio of 23.84, a PEG ratio of 0.17 and a beta of 5.17. The stock’s 50-day simple moving average is $1,537.12 and its two-hundred day simple moving average is $1,297.85.

Sandisk (NASDAQ:SNDK) last posted 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. The company had revenue of $8.96 billion during the quarter. Sandisk had a net margin of 56.47% and a return on equity of 87.84%. The company’s quarterly revenue was up 371.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.29 earnings per share. Sandisk has set its Q1 2027 guidance at 44.000-46.000 EPS. As a group, equities analysts predict that Sandisk Corporation will post 208.92 EPS for the current fiscal year.

Sandisk declared that its board has approved a share repurchase plan on Wednesday, August 5th that allows the company to buyback $14.00 billion in shares. This buyback authorization allows the data storage provider to reacquire up to 6.6% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s board of directors believes its stock is undervalued.

Insider Activity

In other news, insider Bernard Shek sold 600 shares of the company’s stock in a transaction dated Tuesday, September 1st. The shares were sold at an average price of $1,525.60, for a total transaction of $915,360.00. Following the completion of the transaction, the insider directly owned 29,884 shares of the company’s stock, valued at approximately $45,591,030.40. This represents a 1.97% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 1,800 shares of company stock valued at $2,865,456 in the last 90 days. 0.21% of the stock is currently owned by insiders.

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.