First Citizens Bank & Trust Co. Purchases 4,725 Shares of Sandisk Corporation $SNDK

First Citizens Bank & Trust Co. grew its holdings in shares of Sandisk Corporation (NASDAQ:SNDK) by 1,509.6% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 5,038 shares of the data storage provider’s stock after acquiring an additional 4,725 shares during the quarter. First Citizens Bank & Trust Co.’s holdings in Sandisk were worth $8,766,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Handelsbanken Fonder AB lifted its position in Sandisk by 35.1% during the second quarter. Handelsbanken Fonder AB now owns 57,564 shares of the data storage provider’s stock valued at $130,885,000 after buying an additional 14,964 shares during the period. Focus Partners Advisor Solutions LLC bought a new stake in shares of Sandisk during the 2nd quarter valued at $4,775,000. Florida Financial Advisors LLC bought a new stake in shares of Sandisk during the 1st quarter valued at $2,747,000. UNICOM Systems Inc. grew its position in shares of Sandisk by 14.9% in the 2nd quarter. UNICOM Systems Inc. now owns 58,500 shares of the data storage provider’s stock worth $133,013,000 after buying an additional 7,600 shares during the period. Finally, Affinity Capital Advisors LLC purchased a new stake in shares of Sandisk in the 2nd quarter worth about $2,506,000.

Trending Headlines about Sandisk

Here are the key news stories impacting Sandisk this week:

• Positive Sentiment: Credit-rating upgrade supports the balance sheet. S&P Global upgraded SanDisk to BBB from BB+, citing stronger cash flows and rising AI-driven memory demand. The upgrade could reduce financing costs and reinforce confidence in the company’s financial position. SanDisk Stock Upgraded to BBB by S&P Global
• Positive Sentiment: Bullish long-term views remain intact. Nicholas Mugalli sees SNDK reaching $3,000 over two years, arguing that projected earnings could leave the stock trading below nine times earnings at that price. Other coverage continues to identify SanDisk as an attractive AI-storage and NAND beneficiary. SanDisk Has More Upside
• Positive Sentiment: Some analysts view the selloff as premature. A Seeking Alpha analysis maintains a Buy view, citing robust NAND pricing, contracts worth approximately $93.9 billion and $16.5 billion in financial guarantees. SanDisk also received recognition for an AI-storage NAND breakthrough. SanDisk: The First Crack in the Memory Supercycle
• Neutral Sentiment: Upcoming earnings are a key near-term test. SanDisk is scheduled to report fiscal first-quarter 2027 results on October 29. Management previously guided to $10.3 billion-$10.8 billion in revenue and $44-$46 in non-GAAP EPS, making pricing, margins and demand trends central to the next market reaction. SanDisk Pre-Earnings Analysis
• Negative Sentiment: China competition is the dominant selloff catalyst. Reports that CXMT plans to target high-end server memory have triggered a broad decline across memory stocks, including SanDisk, even though SanDisk does not manufacture DRAM. Investors fear the development could eventually intensify competition across the broader memory ecosystem. Memory Stocks Extend Slide Following News of Design Breakthrough in China
• Negative Sentiment: Valuation and cycle concerns are magnifying volatility. Investors are questioning whether recent earnings and cash-flow strength, which benefited substantially from higher NAND prices, can persist. AI-funding worries, sector-wide risk reduction and reported insider selling are adding to the cautious tone. Micron and SanDisk Look Cheaper by the Day

Analysts Set New Price Targets

SNDK has been the subject of several research reports. China Renaissance increased their price target on shares of Sandisk from $2,000.00 to $2,250.00 and gave the stock a “buy” rating in a research note on Wednesday, August 19th. Cantor Fitzgerald reissued an “overweight” rating and set a $2,900.00 price objective (up from $1,800.00) on shares of Sandisk in a research note on Monday, August 10th. Argus upgraded shares of Sandisk from a “hold” rating to a “buy” rating and set a $1,600.00 price objective on the stock in a report on Monday, August 10th. New Street Research set a $3,000.00 price objective on shares of Sandisk in a report on Thursday, August 6th. Finally, Royal Bank Of Canada raised their target price on shares of Sandisk from $1,300.00 to $1,600.00 and gave the company a “sector perform” rating in a research note on Friday, August 14th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $2,120.65.

Sandisk Stock Down 0.3%

Shares of SNDK opened at $1,482.33 on Wednesday. The company has a market capitalization of $214.24 billion, a P/E ratio of 20.33, a price-to-earnings-growth ratio of 0.15 and a beta of 5.23. The firm has a 50 day moving average of $1,598.08 and a 200 day moving average of $1,487.22. Sandisk Corporation has a twelve month low of $120.96 and a twelve month high of $2,354.39.

Sandisk (NASDAQ:SNDK) last posted its quarterly earnings results on Wednesday, August 5th. The data storage provider reported $39.25 earnings per share for the quarter, topping the consensus estimate of $33.28 by $5.97. The firm had revenue of $8.96 billion during the quarter. Sandisk had a return on equity of 87.84% and a net margin of 56.47%. The firm’s revenue for the quarter was up 371.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.29 EPS. Sandisk has set its Q1 2027 guidance at 44.000-46.000 EPS. On average, sell-side analysts expect that Sandisk Corporation will post 208.94 EPS for the current year.

Sandisk declared that its board has authorized a share buyback plan on Wednesday, August 5th that authorizes the company to buy back $14.00 billion in shares. This buyback authorization authorizes the data storage provider to buy up to 6.6% of its stock through open market purchases. Share buyback plans are typically a sign that the company’s board believes its stock is undervalued.

Insiders Place Their Bets

In other Sandisk news, CFO Luis Visoso sold 1,000 shares of the firm’s stock in a transaction dated Tuesday, September 15th. The stock was sold at an average price of $1,568.83, for a total value of $1,568,830.00. Following the transaction, the chief financial officer directly owned 130,976 shares of the company’s stock, valued at approximately $205,479,078.08. This trade represents a 0.76% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Bernard Shek sold 600 shares of the company’s stock in a transaction that occurred on Thursday, October 1st. The shares were sold at an average price of $1,734.94, for a total transaction of $1,040,964.00. Following the sale, the insider directly owned 25,588 shares of the company’s stock, valued at approximately $44,393,644.72. This represents a 2.29% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 77,899 shares of company stock valued at $121,159,122 over the last quarter. Corporate insiders own 0.29% 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.