Bank of New York Mellon Corp Sells 70,421 Shares of Sandisk Corporation $SNDK

Bank of New York Mellon Corp lowered its position in shares of Sandisk Corporation (NASDAQ:SNDK – Free Report) by 9.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 673,254 shares of the data storage provider’s stock after selling 70,421 shares during the period. Bank of New York Mellon Corp owned 0.46% of Sandisk worth $159,817,000 as of its most recent filing with the Securities and Exchange Commission.
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A number of other large investors also recently made changes to their positions in the company. Larson Financial Group LLC increased its stake in shares of Sandisk by 20.2% during the fourth quarter. Larson Financial Group LLC now owns 220 shares of the data storage provider’s stock worth $52,000 after purchasing an additional 37 shares during the period. Composition Wealth LLC increased its stake in shares of Sandisk by 0.4% during the fourth quarter. Composition Wealth LLC now owns 10,299 shares of the data storage provider’s stock worth $2,445,000 after purchasing an additional 41 shares during the period. Westfuller Advisors LLC increased its stake in shares of Sandisk by 51.8% during the fourth 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 period. IFP Advisors Inc increased its stake in shares of Sandisk by 4.8% during the fourth quarter. IFP Advisors Inc now owns 1,042 shares of the data storage provider’s stock worth $247,000 after purchasing an additional 48 shares during the period. Finally, Everhart Financial Group Inc. increased its stake in shares of Sandisk by 3.4% during the fourth quarter. Everhart Financial Group Inc. now owns 2,058 shares of the data storage provider’s stock worth $489,000 after purchasing an additional 67 shares during the period.

Here are the key news stories impacting Sandisk this week:
• Analyst commentary remains constructive, with reports citing bullish views on Sandisk and Morgan Stanley lifting its price target by 59%, signaling expectations for further upside from AI-driven memory demand.
• Several bullish pieces argue Sandisk’s AI storage opportunity is still early, highlighting strong recent revenue growth, high margins, and a favorable memory-supply backdrop that could support fundamentals. Sandisk’s AI Storage Moment Is Just Getting Started
• Market commentary notes Sandisk was among the standout semiconductor winners this year, but that outsized rally is also making the shares more vulnerable to profit-taking and valuation concerns. Sandisk stock is firing on all cylinders: is a day of reckoning coming?
• Another article suggests analysts still see Sandisk as a key AI memory beneficiary, reinforcing the long-term demand story even as short-term trading turns volatile. These Experts Say the Memory-Stock Runup May Not Be Over Yet
• Friday’s selloff appears driven by a “parabolic” unwind in semiconductor leaders, with Sandisk and peers Micron and Marvell sliding as investors reduce exposure to overheated AI trades.
• New competition concerns and softer sentiment across tech hardware added to the weakness, suggesting near-term momentum could fade if the sector rotation continues. Micron (MU), SanDisk (SNDK) Stocks Slide after Broadcom Outlook and New Competition Threat
• SanDisk’s Stock and Short Interest Both at Record Highs —Do the Bears Know Something?

A number of equities analysts have commented on the company. UBS Group set a $1,700.00 price objective on Sandisk in a research note on Monday, May 4th. Royal Bank Of Canada raised their price objective on Sandisk from $650.00 to $1,000.00 and gave the stock a “sector perform” rating in a research note on Friday, May 1st. Mizuho raised their price objective on Sandisk from $1,625.00 to $1,825.00 and gave the stock an “outperform” rating in a research note on Thursday, May 28th. Jefferies Financial Group restated a “buy” rating and set a $1,400.00 price objective on shares of Sandisk in a research note on Friday, May 1st. Finally, Cantor Fitzgerald raised their price objective on Sandisk from $1,400.00 to $1,800.00 and gave the stock an “overweight” rating in a research note on Friday, May 1st. Three investment analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat, Sandisk presently has a consensus rating of “Moderate Buy” and an average price target of $1,398.27.

Check Out Our Latest Stock Analysis on Sandisk

In other Sandisk news, insider Bernard Shek sold 600 shares of the firm’s stock in a transaction on Wednesday, June 3rd. The stock was sold at an average price of $1,736.00, for a total value of $1,041,600.00. Following the sale, the insider owned 32,232 shares of the company’s stock, valued at approximately $55,954,752. This trade represents a 1.83% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Michael Pokorny sold 2,446 shares of the firm’s stock in a transaction on Tuesday, May 12th. The shares were sold at an average price of $1,426.18, for a total value of $3,488,436.28. Following the completion of the sale, the chief accounting officer directly owned 22,375 shares in the company, valued at approximately $31,910,777.50. This represents a 9.85% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 5,625 shares of company stock worth $8,913,497. 0.21% of the stock is owned by company insiders.

Sandisk stock opened at $1,559.32 on Friday. The stock’s fifty day moving average price is $1,174.63 and its two-hundred day moving average price is $695.82. Sandisk Corporation has a one year low of $38.53 and a one year high of $1,861.00. The firm has a market cap of $230.92 billion, a PE ratio of 54.20 and a beta of 4.87.

Sandisk (NASDAQ:SNDK – Get Free Report) last posted its quarterly earnings data on Thursday, April 30th. The data storage provider reported $23.41 EPS for the quarter, topping analysts’ consensus estimates of $14.17 by $9.24. The firm had revenue of $5.95 billion for the quarter. Sandisk had a return on equity of 44.06% and a net margin of 34.19%.Sandisk’s revenue was up 251.0% on a year-over-year basis. 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. Sell-side analysts expect that Sandisk Corporation will post 63.58 earnings per share for the current fiscal year.

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.
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