Bank of Nova Scotia Purchases New Shares in Sandisk Corporation $SNDK

Bank of Nova Scotia purchased a new position in shares of Sandisk Corporation (NASDAQ:SNDK) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 450,000 shares of the data storage provider’s stock, valued at approximately $50,490,000. Bank of Nova Scotia owned 0.31% of Sandisk at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of SNDK. Vanguard Personalized Indexing Management LLC purchased a new stake in shares of Sandisk in the third quarter valued at about $1,136,000. New York State Teachers Retirement System acquired a new stake in shares of Sandisk during the third quarter worth about $13,546,000. Sage Rhino Capital LLC purchased a new position in shares of Sandisk during the third quarter worth about $587,000. Y Intercept Hong Kong Ltd purchased a new position in shares of Sandisk during the third quarter worth about $7,046,000. Finally, Sumitomo Mitsui Trust Group Inc. acquired a new position in Sandisk in the 3rd quarter valued at about $514,000.

Insider Activity at Sandisk

In related news, Director Miyuki Suzuki sold 3,500 shares of Sandisk stock in a transaction that occurred on Wednesday, February 25th. The stock was sold at an average price of $627.53, for a total value of $2,196,355.00. Following the sale, the director directly owned 9,907 shares in the company, valued at $6,216,939.71. The trade was a 26.11% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.21% of the stock is owned by corporate insiders.

Sandisk Trading Up 6.9%

NASDAQ SNDK opened at $661.62 on Monday. The company has a quick ratio of 1.92, a current ratio of 3.11 and a debt-to-equity ratio of 0.06. The stock has a market capitalization of $97.66 billion and a P/E ratio of -87.17. Sandisk Corporation has a 52-week low of $27.89 and a 52-week high of $725.00. The firm has a 50-day moving average price of $541.07 and a 200 day moving average price of $301.16.

Sandisk (NASDAQ:SNDK) last announced its quarterly earnings data on Thursday, January 29th. The data storage provider reported $6.20 earnings per share for the quarter, beating analysts’ consensus estimates of $3.31 by $2.89. Sandisk had a positive return on equity of 10.11% and a negative net margin of 11.66%.The company had revenue of $3.03 billion for the quarter, compared to analyst estimates of $2.67 billion. The business’s quarterly revenue was up 61.2% compared to the same quarter last year.

Key Sandisk News

Here are the key news stories impacting Sandisk this week:

• Positive Sentiment: Sector-wide NAND shortage + AI demand — analysts and market commentary point to a structural NAND supply deficit driven by AI infrastructure spending, which is lifting pricing and investor optimism for flash-memory suppliers like SanDisk. SanDisk Climbs 6% as Sector-Wide Memory Shortage Fuels Fresh Investor Optimism
• Positive Sentiment: Strategic industry collaboration — SanDisk joined SK Hynix on initiatives to develop high‑bandwidth flash for AI, signaling product roadmaps aligned with hyperscaler needs and potential preferential design wins. Sandisk Joins SK Hynix To Shape High Bandwidth Flash For AI
• Positive Sentiment: Company guidance and results support growth thesis — management has signaled accelerated NAND growth and Sandisk’s recent quarterly beat (EPS and revenue well above estimates) underpin expectations for stronger margins and cash generation. SanDisk Corp. (SNDK) projects accelerated growth for NAND
• Positive Sentiment: Bullish analyst/market commentary — buy-side pieces (e.g., Seeking Alpha) argue the rally has more room, citing product pipeline wins (Gen5 TLC, BiCS8) and hyperscaler adoption that should expand the data‑center SSD mix. Sandisk May Not Be Peaking Yet – Buy
• Neutral Sentiment: Industry ecosystem strength — suppliers and equipment makers (e.g., Aehr Test Systems) are seeing AI-driven orders for wafer/package testing; this validates higher NAND activity but is an indirect positive for SanDisk. AEHR Keeps Winning: Up +100% With Memory Chip Deal Potential (SNDK)
• Neutral Sentiment: Investor visibility from conferences — Sandisk’s Cantor conference presentation provides management detail and helped reinforce the story, but it’s incremental vs. earnings and industry supply dynamics. Sandisk Corporation (SNDK) Presents at 2026 Cantor Global Technology & Industrial Growth Conference Transcript
• Negative Sentiment: Valuation caution — some analysts warn SNDK’s rapid >1,000% YTD+ move has left a rich valuation and high sales multiple, raising the risk that near‑term outperformance is already priced in and that volatility/mean reversion could follow. Sandisk Surges on AI Storage Demand: Is the Rally Already Priced in?

Wall Street Analysts Forecast Growth

Several research firms have commented on SNDK. Wedbush upped their price objective on Sandisk from $600.00 to $740.00 and gave the company an “outperform” rating in a research note on Friday, January 30th. Jefferies Financial Group lifted their target price on Sandisk from $600.00 to $700.00 and gave the company a “buy” rating in a research note on Friday, January 30th. Cantor Fitzgerald boosted their target price on Sandisk from $550.00 to $800.00 and gave the company an “overweight” rating in a report on Friday, January 30th. Mizuho set a $600.00 price target on Sandisk in a research note on Tuesday, January 27th. Finally, China Renaissance started coverage on Sandisk in a report on Friday, December 5th. They set a “buy” rating and a $322.00 price target for the company. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, six have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $542.85.

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.