Pictet Asset Management Holding SA Lowers Stock Holdings in Sandisk Corporation $SNDK

Pictet Asset Management Holding SA lowered its stake in shares of Sandisk Corporation (NASDAQ:SNDK) by 23.8% during the 1st quarter, HoldingsChannel reports. The institutional investor owned 40,779 shares of the data storage provider’s stock after selling 12,739 shares during the quarter. Pictet Asset Management Holding SA’s holdings in Sandisk were worth $25,909,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. State Street Corp bought a new position in shares of Sandisk during the 3rd quarter valued at approximately $491,053,000. Arrowstreet Capital Limited Partnership bought a new stake in Sandisk in the third quarter worth $297,293,000. Norges Bank purchased a new position in Sandisk during the fourth quarter worth $518,889,000. Bank of America Corp DE purchased a new position in Sandisk during the third quarter worth $190,425,000. Finally, AQR Capital Management LLC bought a new position in Sandisk during the third quarter valued at $163,057,000.

Sandisk News Summary

Here are the key news stories impacting Sandisk this week:

• Positive Sentiment: Bank of America raised its price target on Sandisk to $2,500 from $2,100 and kept a Buy rating, citing tight NAND supply, stronger pricing, and demand that could remain elevated through 2027. Article Title
• Positive Sentiment: Bernstein also sharply boosted its outlook on Sandisk, with reports highlighting a much higher price target and confidence in the company’s contracts, earnings power, and the durability of the memory supercycle. Article Title
• Positive Sentiment: Analysts continue to point to Sandisk’s expanding QLC SSD portfolio, AI storage demand, and multi-year supply deals as support for longer-term growth. Article Title
• Neutral Sentiment: Several market commentary pieces noted that Sandisk has already run sharply higher this year, with some investors questioning whether valuations have gotten too stretched after the memory-stock rally. Article Title
• Neutral Sentiment: Sandisk’s recent earnings strength and bullish long-term guidance continue to support the stock, even as the market debates how much upside is already priced in.
• Negative Sentiment: Sandisk fell along with other memory-chip stocks in a broad semiconductor selloff, with investors locking in profits after a strong first half for the sector. Article Title
• Negative Sentiment: Reports also said a new class-action lawsuit against major memory chipmakers added pressure to the shares, reinforcing concerns about risk in the sector. Article Title

Sandisk Stock Performance

NASDAQ SNDK opened at $2,032.22 on Thursday. The company has a market cap of $300.95 billion, a PE ratio of 70.64 and a beta of 4.72. The firm’s 50 day moving average price is $1,618.07 and its 200-day moving average price is $925.59. Sandisk Corporation has a 52-week low of $40.10 and a 52-week high of $2,354.39.

Sandisk (NASDAQ:SNDK) last released its quarterly earnings results 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 during 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% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.30) earnings per share. Sandisk has set its Q4 2026 guidance at 30.000-33.000 EPS. On average, analysts forecast that Sandisk Corporation will post 64.01 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on SNDK shares. Wedbush increased their target price on shares of Sandisk from $740.00 to $1,200.00 and gave the company an “outperform” rating in a research note on Wednesday, April 29th. Jefferies Financial Group reiterated a “buy” rating and set a $1,400.00 price target on shares of Sandisk 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 report on Monday. 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 note on Friday, May 29th. Finally, Bank of America boosted their target price on Sandisk from $2,100.00 to $2,500.00 and gave the company a “buy” rating in a research report on Wednesday. Three equities research analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat, Sandisk presently has a consensus rating of “Moderate Buy” and an average target price of $1,684.24.

Insiders Place Their Bets

In related news, Director Necip Sayiner sold 579 shares of the company’s stock in a transaction dated Friday, May 8th. The stock was sold at an average price of $1,503.11, for a total transaction of $870,300.69. Following the transaction, the director directly owned 2,900 shares of the company’s stock, valued at $4,359,019. This represents a 16.64% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CAO Michael Pokorny sold 2,446 shares of the stock in a transaction that occurred on Tuesday, May 12th. The shares were sold at an average price of $1,426.18, for a total transaction of $3,488,436.28. Following the completion of the transaction, the chief accounting officer directly owned 22,375 shares of the company’s stock, valued at $31,910,777.50. The trade was a 9.85% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 5,625 shares of company stock valued at $8,913,497 in the last 90 days. 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.