Sandisk Corporation $SNDK Position Increased by California State Teachers Retirement System

California State Teachers Retirement System increased its stake in shares of Sandisk Corporation (NASDAQ:SNDK) by 22.8% in the first quarter, Holdings Channel.com reports. The institutional investor owned 161,778 shares of the data storage provider’s stock after acquiring an additional 30,065 shares during the period. California State Teachers Retirement System’s holdings in Sandisk were worth $102,784,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently added to or reduced their stakes in the stock. Osaic Holdings Inc. bought a new position in Sandisk in the 2nd quarter worth about $317,000. Merit Financial Group LLC bought a new position in Sandisk during the 3rd quarter valued at $408,000. Dimensional Fund Advisors LP acquired a new position in shares of Sandisk during the 3rd quarter valued at $100,080,000. First Trust Advisors LP acquired a new position in shares of Sandisk during the 3rd quarter valued at $9,788,000. Finally, Blair William & Co. IL bought a new stake in shares of Sandisk in the 3rd quarter worth $591,000.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the company. Wedbush raised their target price on Sandisk from $1,200.00 to $2,000.00 and gave the company an “outperform” rating in a research note on Thursday, July 9th. Wells Fargo & Company boosted their price target on shares of 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. Jefferies Financial Group restated a “buy” rating and set a $1,400.00 price objective on shares of Sandisk in a research report on Friday, May 1st. Evercore set a $3,100.00 price objective on shares of Sandisk in a research note on Monday, July 13th. Finally, Weiss Ratings downgraded shares of Sandisk from a “buy (b-)” rating to a “hold (c+)” rating in a report on Tuesday, July 21st. Two equities research analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $1,811.38.

Sandisk Stock Down 7.3%

SNDK opened at $1,015.89 on Thursday. The stock has a fifty day moving average of $1,739.66 and a 200-day moving average of $1,109.53. The firm has a market capitalization of $150.44 billion, a P/E ratio of 35.31 and a beta of 4.74. Sandisk Corporation has a 12-month low of $40.10 and a 12-month high of $2,354.39.

Sandisk (NASDAQ:SNDK) last announced its quarterly earnings data on Thursday, April 30th. The data storage provider reported $23.41 EPS for the quarter, topping analysts’ consensus estimates of $14.17 by $9.24. Sandisk had a return on equity of 44.06% and a net margin of 34.19%.The firm had revenue of $5.95 billion during the quarter. During the same quarter in the previous year, the business posted ($0.30) earnings per share. The company’s revenue was up 251.0% compared to the same quarter last year. On average, analysts expect that Sandisk Corporation will post 64.52 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CAO Michael Pokorny sold 2,446 shares of the business’s 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 transaction, the chief accounting officer directly owned 22,375 shares of the company’s stock, valued at approximately $31,910,777.50. The trade was a 9.85% decrease in their ownership of the stock. The sale was disclosed in a document filed 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 shares were sold at an average price of $1,503.11, for a total transaction of $870,300.69. Following the completion of the transaction, the director owned 2,900 shares in the company, valued at approximately $4,359,019. This represents a 16.64% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 6,225 shares of company stock worth $10,166,297 over the last quarter. Company insiders own 0.21% of the company’s stock.

More Sandisk News

Here are the key news stories impacting Sandisk this week:

• Positive Sentiment: Some analysts view the selloff as a potential buying opportunity. Sandisk’s outlook is supported by strong AI-driven storage demand, approximately $42 billion in contracts and a debt-free balance sheet. Analysts’ consensus target of about $2,218 implies substantial long-term upside from recent levels. Does Sandisk Stock’s Recent Sharp Sell-Off Offer a Buying Opportunity?
• Positive Sentiment: Expectations remain favorable ahead of Sandisk’s fiscal fourth-quarter earnings report, scheduled for August 5. Recent analyst commentary points to potentially strong earnings growth, while the company’s prior quarter significantly exceeded consensus expectations on both earnings and revenue. What SK Hynix and Seagate Earnings Mean for SanDisk
• Neutral Sentiment: Sandisk’s collapse has made inverse exposure unusually popular: the SNDQ ETF, which benefits when the stock falls, has surged more than 175% in July. This highlights the intensity of the move but does not change Sandisk’s underlying fundamentals. SanDisk’s Plunge Has Produced One of July’s Hottest ETF Trades
• Negative Sentiment: Memory stocks, including Sandisk, Micron and SK Hynix, are experiencing a sector-wide rout as investors question whether AI demand and valuations have become overheated. Sandisk has lost roughly half its value in July, increasing volatility and technical selling pressure. Memory Selloff Intensifies
• Negative Sentiment: Investors are also concerned about rising Chinese competition, including chipmaker CXMT’s planned IPO, and the possibility that increased supply could pressure future memory pricing and margins. Broader market risk aversion ahead of the Federal Reserve decision and a sharp oil-price spike added to selling in technology shares. Is the AI Chip Trade Actually Cracking?

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.