Chesapeake Asset Management LLC Sells 766 Shares of Sandisk Corporation $SNDK

Chesapeake Asset Management LLC lowered its position in shares of Sandisk Corporation (NASDAQ:SNDK) by 32.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,600 shares of the data storage provider’s stock after selling 766 shares during the quarter. Chesapeake Asset Management LLC’s holdings in Sandisk were worth $380,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Everhart Financial Group Inc. lifted its stake in Sandisk by 3.4% in the fourth quarter. Everhart Financial Group Inc. now owns 2,058 shares of the data storage provider’s stock valued at $489,000 after buying an additional 67 shares during the period. MassMutual Private Wealth & Trust FSB grew its holdings in Sandisk by 18.2% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 752 shares of the data storage provider’s stock worth $179,000 after purchasing an additional 116 shares during the period. GAMMA Investing LLC raised its holdings in shares of Sandisk by 3.2% during the fourth quarter. GAMMA Investing LLC now owns 4,042 shares of the data storage provider’s stock valued at $959,000 after purchasing an additional 126 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. bought a new position in shares of Sandisk during the 3rd quarter worth about $27,000. Finally, CVA Family Office LLC bought a new position in shares of Sandisk during the 3rd quarter worth about $28,000.

Key Sandisk News

Here are the key news stories impacting Sandisk this week:

• Positive Sentiment: Citi raised its price target to $875 and maintained a buy stance, signaling significant upside expectations and supporting the stock’s recent run. Benzinga / TickerReport on Citi price target raise
• Positive Sentiment: A Citi analyst also boosted earnings/volume forecasts, saying data‑center NAND bit demand is “through the roof,” which underpins longer‑term revenue prospects for SanDisk. TipRanks: Citi analyst hike
• Positive Sentiment: SanDisk recently hit all‑time highs amid strong demand for AI‑optimized storage, which helped push momentum and attracted momentum buyers ahead of this pullback. TipRanks: all‑time high coverage
• Positive Sentiment: KGI Securities and other firms initiated/expanded coverage with constructive ratings, increasing institutional attention and potential buy‑side interest. AmericanBankingNews: KGI initiates coverage
• Neutral Sentiment: Technical analysts flagged bullish patterns (golden cross on key moving averages) that can attract technical buyers but don’t guarantee sustained gains. 24/7 Wall St.: golden cross article
• Neutral Sentiment: Analyst/market commentary and media speculation about a potential stock split have circulated; such talk can boost retail interest but is speculative until management confirms. 24/7 Wall St.: stock split speculation
• Negative Sentiment: Profit‑taking and a debate in the press — framed as “AI breakout or speculative bubble” — have driven a short‑term pullback as investors reassess valuation after the rapid rise. 24/7 Wall St.: AI breakout vs bubble
• Negative Sentiment: Coverage noting intra‑session drops and pre‑market weakness highlights elevated volatility — short‑term traders may exacerbate moves, increasing downside risk for momentum investors. MSN: what’s behind the drop

Analyst Ratings Changes

A number of brokerages have commented on SNDK. Morgan Stanley set a $690.00 price objective on Sandisk in a research note on Friday, January 30th. Sanford C. Bernstein lifted their price objective on shares of Sandisk from $300.00 to $580.00 and gave the company an “outperform” rating in a report on Wednesday, January 14th. Benchmark boosted their price objective on Sandisk from $260.00 to $450.00 and gave the stock a “buy” rating in a report on Thursday, January 15th. JPMorgan Chase & Co. assumed coverage on Sandisk in a report on Monday, December 8th. They issued a “neutral” rating and a $235.00 target price on the stock. Finally, KGI Securities initiated coverage on Sandisk in a research report on Wednesday. They set an “outperform” rating and a $992.00 target price on the stock. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $570.19.

Insider Activity at Sandisk

In other news, Director Miyuki Suzuki sold 3,500 shares of the stock in a transaction on Wednesday, February 25th. The stock was sold at an average price of $627.53, for a total transaction of $2,196,355.00. Following the completion of the transaction, the director owned 9,907 shares in the company, valued at approximately $6,216,939.71. This represents a 26.11% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.21% of the stock is owned by corporate insiders.

Sandisk Price Performance

SNDK opened at $709.71 on Friday. The firm has a market cap of $104.75 billion and a P/E ratio of -93.51. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.92 and a current ratio of 3.11. Sandisk Corporation has a fifty-two week low of $27.89 and a fifty-two week high of $777.60. The firm has a 50-day moving average of $580.47 and a 200 day moving average of $323.22.

Sandisk (NASDAQ:SNDK) last released its earnings results 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 negative net margin of 11.66% and a positive return on equity of 10.11%. The firm had revenue of $3.03 billion for the quarter, compared to analysts’ expectations of $2.67 billion. Sandisk’s revenue was up 61.2% on a year-over-year basis.

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.