Illinois Municipal Retirement Fund Buys 3,446 Shares of Sandisk Corporation $SNDK

Illinois Municipal Retirement Fund increased its stake in Sandisk Corporation (NASDAQ:SNDK) by 67.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 8,539 shares of the data storage provider’s stock after buying an additional 3,446 shares during the period. Illinois Municipal Retirement Fund’s holdings in Sandisk were worth $5,425,000 as of its most recent SEC filing.

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

Analyst Upgrades and Downgrades

SNDK has been the topic of several research analyst reports. Susquehanna increased their price objective on Sandisk from $2,000.00 to $3,250.00 and gave the stock a “positive” rating in a research note on Friday, May 29th. Melius Research set a $2,350.00 target price on Sandisk in a research report on Monday, May 18th. Citigroup upped their target price on Sandisk from $2,025.00 to $2,500.00 and gave the stock a “buy” rating in a report on Thursday, June 25th. Jefferies Financial Group reissued a “buy” rating and set a $1,400.00 price target on shares of Sandisk in a research report on Friday, May 1st. Finally, Mizuho raised their price target on Sandisk from $1,825.00 to $2,200.00 and gave the company an “outperform” rating in a research note on Monday, June 8th. Two investment analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat, Sandisk has an average rating of “Moderate Buy” and a consensus price target of $1,803.29.

Sandisk Stock Performance

Shares of SNDK opened at $1,354.38 on Friday. The company has a 50 day moving average price of $1,746.25 and a 200-day moving average price of $1,042.54. Sandisk Corporation has a fifty-two week low of $40.10 and a fifty-two week high of $2,354.39. The stock has a market capitalization of $200.57 billion, a PE ratio of 47.08 and a beta of 4.74.

Sandisk (NASDAQ:SNDK) last issued its quarterly earnings data 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 company 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 business’s quarterly revenue was up 251.0% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.30) earnings per share. Sandisk has set its Q4 2026 guidance at 30.000-33.000 EPS. Equities research analysts forecast that Sandisk Corporation will post 64.95 EPS for the current year.

Trending Headlines about Sandisk

Here are the key news stories impacting Sandisk this week:

• Positive Sentiment: Despite the pullback, several recent pieces remain constructive on Sandisk’s long-term setup, pointing to strong demand from AI infrastructure and tighter memory supply conditions that could support revenue and margins. Article Title
• Positive Sentiment: Sandisk’s valuation has come down sharply from recent highs, with some investors and analysts arguing the selloff may have made the stock more attractive relative to its growth outlook. Article Title
• Neutral Sentiment: Sandisk also announced progress on its Fab2 project with Kioxia and said BiCS10 sampling has begun, a development that supports its product roadmap but is not an immediate earnings catalyst. Article Title
• Negative Sentiment: Technical damage has intensified after the stock broke key support levels, with chart watchers citing a sharp drop from recent peaks and warning that momentum has turned decisively lower ahead of the next earnings report. Article Title
• Negative Sentiment: Sector-wide weakness, including concerns about Chinese competition and a broad AI-chip rotation, has added to the selloff in memory stocks such as Sandisk. Article Title

Insider Buying and Selling

In other news, CAO Michael Pokorny sold 2,446 shares of the business’s stock in a transaction on 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 completion of 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 position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Alper Ilkbahar sold 2,000 shares of the company’s stock in a transaction on Monday, June 1st. The stock was sold at an average price of $1,756.58, for a total value of $3,513,160.00. Following the sale, the executive vice president owned 52,677 shares of the company’s stock, valued at $92,531,364.66. This trade represents a 3.66% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 6,225 shares of company stock worth $10,166,297 over the last quarter. 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.