Bank of New York Mellon Corp Increases Position in Sandisk Corporation $SNDK

Bank of New York Mellon Corp increased its holdings in Sandisk Corporation (NASDAQ:SNDK) by 7.6% during the 1st quarter, HoldingsChannel reports. The fund owned 724,226 shares of the data storage provider’s stock after acquiring an additional 50,972 shares during the quarter. Bank of New York Mellon Corp’s holdings in Sandisk were worth $460,129,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of SNDK. Whittier Trust Co. acquired a new stake in Sandisk during the 4th quarter valued at approximately $26,000. Greenline Wealth Management LLC acquired a new stake in Sandisk in the fourth quarter valued at $26,000. Chung Wu Investment Group LLC acquired a new position in Sandisk during the 4th quarter worth $27,000. Westfuller Advisors LLC increased its position in shares of Sandisk by 51.8% in the 4th quarter. Westfuller Advisors LLC now owns 126 shares of the data storage provider’s stock worth $30,000 after purchasing an additional 43 shares during the last quarter. Finally, Parallel Advisors LLC acquired a new stake in shares of Sandisk in the 3rd quarter valued at about $30,000.

Trending Headlines about Sandisk

Here are the key news stories impacting Sandisk this week:

• Positive Sentiment: Several articles note that Sandisk still has strong fundamentals and may be attractively valued after the pullback, with commentary highlighting robust revenue and margin growth, bullish analyst sentiment, and upside potential ahead of earnings. Which Storage Stock Is Best Positioned to Win the AI Memory War? (SNDK)
• Positive Sentiment: Sandisk’s Fab2 launch with Kioxia and the start of BiCS10 sampling suggest continued product and manufacturing momentum in advanced memory technology. Sandisk (SNDK) Launches Fab2 With Kioxia As BiCS10 Sampling Begins
• Neutral Sentiment: Analyst coverage from Argus began with a Hold rating, signaling caution rather than a bullish call, but not a major fundamental downgrade. Analyst Maintains Hold on SanDisk After Post–Spin-Off Rally, Awaiting Pullback or Clear Earnings Acceleration
• Negative Sentiment: Memory and chip stocks are under sector-wide pressure as traders lock in gains from the AI hardware rally, dragging Sandisk lower along with peers such as Micron and Western Digital. Memory-Chip Selloff Drags Nasdaq 100 Lower, SanDisk Sinks 13%: Stock Market Today
• Negative Sentiment: Investor concerns about Chinese competition intensified after reports that CXMT is preparing a large memory-chip IPO, which has weighed on the entire memory group and added to Sandisk’s pullback. SK Hynix and SanDisk Sink 7%, Micron Falls 5% as China’s CXMT Readies an $8.6B Memory IPO
• Negative Sentiment: Articles also point to a sharp correction after Sandisk’s massive rally, with some analysts warning the best part of the move may be over for now. After A 6,000% Melt-Up, SanDisk Just Found Out Gravity Still Exists

Sandisk Stock Down 12.6%

Shares of NASDAQ:SNDK opened at $1,411.08 on Friday. The company’s 50-day moving average price is $1,750.41 and its 200 day moving average price is $1,040.34. The company has a market cap of $208.97 billion, a PE ratio of 49.05 and a beta of 4.74. Sandisk Corporation has a fifty-two week low of $40.10 and a fifty-two week high of $2,354.39.

Sandisk (NASDAQ:SNDK) last posted its 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. Sandisk had a net margin of 34.19% and a return on equity of 44.06%. The firm had revenue of $5.95 billion during the quarter. During the same quarter last year, the company posted ($0.30) EPS. Sandisk’s revenue for the quarter was up 251.0% on a year-over-year basis. Sandisk has set its Q4 2026 guidance at 30.000-33.000 EPS. As a group, equities analysts anticipate that Sandisk Corporation will post 64.95 EPS for the current year.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on SNDK. Zacks Research lowered Sandisk from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 1st. Sanford C. Bernstein raised their price objective on Sandisk from $1,700.00 to $3,000.00 and gave the stock an “outperform” rating in a research note on Monday, June 29th. Susquehanna lifted their price objective on shares of Sandisk from $2,000.00 to $3,250.00 and gave the stock a “positive” rating in a report on Friday, May 29th. Bank of America increased their target price on shares of Sandisk from $2,100.00 to $2,500.00 and gave the stock a “buy” rating in a report on Wednesday, July 1st. Finally, Morgan Stanley raised their target price on shares of Sandisk from $1,100.00 to $1,750.00 and gave the stock an “overweight” rating in a report on Wednesday, June 3rd. Two analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $1,803.29.

Insiders Place Their Bets

In related news, Director Necip Sayiner sold 579 shares of Sandisk stock in a transaction dated 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 sale, the director directly owned 2,900 shares in the company, valued at $4,359,019. The trade was a 16.64% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Michael Pokorny sold 2,446 shares of the stock in a transaction dated 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 owned 22,375 shares of the company’s stock, valued at $31,910,777.50. This represents a 9.85% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 6,225 shares of company stock worth $10,166,297 over the last 90 days. Insiders own 0.21% of the company’s stock.

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.