First Trust Advisors LP Raises Holdings in Sandisk Corporation $SNDK

First Trust Advisors LP grew its stake in shares of Sandisk Corporation (NASDAQ:SNDK) by 115.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 134,211 shares of the data storage provider’s stock after acquiring an additional 71,867 shares during the quarter. First Trust Advisors LP’s holdings in Sandisk were worth $85,270,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of the stock. State Street Corp acquired a new stake in shares of Sandisk during the third quarter worth $491,053,000. Arrowstreet Capital Limited Partnership acquired a new position in shares of Sandisk in the 3rd quarter valued at $297,293,000. Norges Bank purchased a new position in Sandisk in the 4th quarter worth $518,889,000. Bank of America Corp DE acquired a new stake in Sandisk during the 3rd quarter worth about $190,425,000. Finally, AQR Capital Management LLC purchased a new stake in Sandisk during the 3rd quarter valued at about $163,057,000.

Key Stories Impacting Sandisk

Here are the key news stories impacting Sandisk this week:

• Positive Sentiment: SanDisk remains a major AI-storage beneficiary, with multiple recent articles highlighting strong demand for memory and enterprise storage tied to AI infrastructure spending and tight supply. Article Title
• Positive Sentiment: Analysts and traders are still focused on SanDisk’s upcoming fiscal Q4 earnings on August 5, with expectations for a large move and a chance for another earnings beat after a strong surprise history. Article Title
• Neutral Sentiment: New ETF products are being launched to trade the DRAM and memory rally, underscoring strong investor interest in the group, though this is more a sentiment signal than a direct catalyst for SanDisk. Article Title
• Neutral Sentiment: Options traders are pricing in a sizable post-earnings swing, reflecting elevated expectations and uncertainty heading into the report. Article Title
• Negative Sentiment: Memory and chip stocks are under pressure today, and SanDisk is being dragged lower by a sector-wide risk-off move after recent gains in AI-related semiconductors. Article Title
• Negative Sentiment: SanDisk has also pulled back sharply from recent highs, and some coverage now frames the move as a correction after an extended AI-driven rally. Article Title

Sandisk Price Performance

Sandisk stock opened at $1,436.56 on Friday. The business has a 50 day simple moving average of $1,754.03 and a 200-day simple moving average of $1,087.24. Sandisk Corporation has a 12 month low of $40.10 and a 12 month high of $2,354.39. The stock has a market capitalization of $212.74 billion, a PE ratio of 49.93 and a beta of 4.74.

Sandisk (NASDAQ:SNDK) last announced its earnings results on Thursday, April 30th. The data storage provider reported $23.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $14.17 by $9.24. The business 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 firm’s revenue for the quarter was up 251.0% compared to the same quarter last year. During the same quarter last year, the business earned ($0.30) EPS. Sandisk has set its Q4 2026 guidance at 30.000-33.000 EPS. On average, equities research analysts anticipate that Sandisk Corporation will post 64.52 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have issued reports on the stock. Wells Fargo & Company raised 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. Raymond James Financial reiterated an “outperform” rating and issued a $1,470.00 price objective on shares of Sandisk in a research note on Friday, May 1st. UBS Group set a $1,700.00 price objective on Sandisk in a research note on Monday, May 4th. Argus assumed coverage on Sandisk in a report on Wednesday, July 15th. They issued a “hold” rating for the company. Finally, Evercore set a $3,100.00 target price on Sandisk in a research note on Monday, July 13th. Two research analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $1,811.38.

Insider Activity at Sandisk

In related news, CAO Michael Pokorny sold 2,446 shares of Sandisk stock in a transaction dated Tuesday, May 12th. The stock was sold at an average price of $1,426.18, for a total value of $3,488,436.28. Following the sale, the chief accounting officer directly owned 22,375 shares in the company, valued at approximately $31,910,777.50. The trade was a 9.85% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Necip Sayiner sold 579 shares of Sandisk stock in a transaction dated Friday, May 8th. The stock was 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 owned 2,900 shares in the company, valued at approximately $4,359,019. The trade was a 16.64% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 6,225 shares of company stock valued at $10,166,297. 0.21% of the stock is owned by corporate insiders.

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.