Lazard Asset Management LLC Acquires 511 Shares of Sandisk Corporation $SNDK

Lazard Asset Management LLC grew its holdings in shares of Sandisk Corporation (NASDAQ:SNDK) by 3.1% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,917 shares of the data storage provider’s stock after buying an additional 511 shares during the quarter. Lazard Asset Management LLC’s holdings in Sandisk were worth $10,748,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of SNDK. Valley Wealth Managers Inc. acquired a new stake in Sandisk in the first quarter valued at $25,000. Whittier Trust Co. acquired a new position in shares of Sandisk during the 4th quarter worth about $26,000. Greenline Wealth Management LLC acquired a new position in shares of Sandisk during the 4th quarter worth about $26,000. Chung Wu Investment Group LLC acquired a new position in shares of Sandisk during the 4th quarter worth about $27,000. Finally, Westfuller Advisors LLC raised its holdings 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 valued at $30,000 after purchasing an additional 43 shares during the period.

Key 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?

Insiders Place Their Bets

In related news, Director Necip Sayiner sold 579 shares of the firm’s stock in a transaction on Friday, May 8th. The stock was sold at an average price of $1,503.11, for a total transaction of $870,300.69. Following the sale, the director owned 2,900 shares of the company’s stock, valued at $4,359,019. This trade represents a 16.64% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Alper Ilkbahar sold 2,000 shares of Sandisk stock in a transaction dated Monday, June 1st. The shares were 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 directly owned 52,677 shares in the company, valued at $92,531,364.66. The trade was a 3.66% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 6,225 shares of company stock valued at $10,166,297 in the last quarter. Corporate insiders own 0.21% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently issued reports on SNDK shares. Jefferies Financial Group reaffirmed a “buy” rating and issued a $1,400.00 price objective on shares of Sandisk in a research report on Friday, May 1st. Zacks Research cut Sandisk from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 1st. Arete Research raised Sandisk from a “hold” rating to a “strong-buy” rating in a report on Monday, April 13th. Evercore set a $3,100.00 price objective on shares of Sandisk in a research report 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 investment analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and six have assigned 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 $1,811.38.

Sandisk Trading Down 7.3%

Shares of SNDK stock opened at $1,015.89 on Thursday. The stock has a market cap of $150.44 billion, a P/E ratio of 35.31 and a beta of 4.74. Sandisk Corporation has a 1 year low of $40.10 and a 1 year high of $2,354.39. The stock has a 50 day simple moving average of $1,739.66 and a 200 day simple moving average of $1,109.53.

Sandisk (NASDAQ:SNDK) last posted its quarterly earnings results on Thursday, April 30th. The data storage provider reported $23.41 EPS for the quarter, beating 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 business had revenue of $5.95 billion during the quarter. During the same period last year, the firm earned ($0.30) EPS. The firm’s revenue for the quarter was up 251.0% compared to the same quarter last year. Analysts forecast that Sandisk Corporation will post 64.52 EPS for the current year.

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.