Principal Financial Group Inc. Takes Position in Sandisk Corporation $SNDK

Principal Financial Group Inc. purchased a new stake in Sandisk Corporation (NASDAQ:SNDK) in the third quarter, HoldingsChannel reports. The firm purchased 661,899 shares of the data storage provider’s stock, valued at approximately $74,265,000.

Several other large investors have also recently bought and sold shares of SNDK. Parnassus Investments LLC acquired a new stake in shares of Sandisk in the 3rd quarter valued at $103,815,000. Deprince Race & Zollo Inc. acquired a new position in shares of Sandisk during the third quarter valued at $39,480,000. Teacher Retirement System of Texas bought a new position in Sandisk in the third quarter valued at about $32,770,000. AIGH Capital Management LLC acquired a new stake in Sandisk in the third quarter worth about $31,416,000. Finally, New York State Teachers Retirement System acquired a new stake in Sandisk in the third quarter worth about $13,546,000.

Sandisk News Roundup

Here are the key news stories impacting Sandisk this week:

• Positive Sentiment: Blowout Q2 results and bullish guidance — SanDisk reported ~$3.03B revenue (+61% YoY), EPS well above estimates and rapidly expanding gross margins; management guided materially higher near-term margins and EPS, signaling sustained AI-driven storage demand. The Memory Supercycle Is Here—2 Winners From 1 Breakup
• Positive Sentiment: Analyst upgrades and price-target raises are piling up — multiple firms (Cantor Fitzgerald, Citigroup, Barclays, UBS, Bernstein) jumped to buy/overweight ratings and materially higher targets, reflecting renewed confidence in SanDisk’s earnings power and justifying upside for the stock. Sandisk (SNDK) Soars as Berstein Hikes PT by 72%
• Positive Sentiment: Supply continuity secured — SanDisk extended its joint venture with Kioxia, lowering a key operational risk around wafer supply and supporting the firm’s ability to capture extended AI-driven demand. SanDisk Kioxia Venture Extension Supports AI Flash Growth And Valuation Gap
• Neutral Sentiment: Macro rotation into hardware/edge AI — several pieces argue the market is shifting from chips/software to device and server vendors (the “AI in a box” or hardware supercycle thesis), which supports higher demand for SanDisk products but distributes gains across OEMs like Dell and HP. The AI in a Box Trade: Hardware Is the Next Boom
• Neutral Sentiment: Market technicals and broader indices — futures and broader market strength are providing supportive tape, but this is a secondary driver versus company-specific earnings and guidance. Stock Market Today: S&P 500, Nasdaq 100 Futures Gain Amid Gold, Silver Rebound—Palantir Technologies, SanDisk, PepsiCo In Focus
• Negative Sentiment: Technical extreme and crowding risk — social-media enthusiasm and technical indicators show the stock is far above long-term averages (large percent above the 200‑day MA) and hard-to-borrow/short-interest data suggest elevated crowding and vulnerability to a sharp pullback. SanDisk Stock (SNDK) Opinions on Q2 Earnings Beat

Analyst Ratings Changes

SNDK has been the topic of a number of research reports. JPMorgan Chase & Co. initiated coverage on shares of Sandisk in a research report on Monday, December 8th. They set a “neutral” rating and a $235.00 target price on the stock. Royal Bank Of Canada reissued a “sector perform” rating and set a $650.00 price target on shares of Sandisk in a research note on Friday. Jefferies Financial Group increased their price objective on shares of Sandisk from $600.00 to $700.00 and gave the company a “buy” rating in a report on Friday. China Renaissance initiated coverage on shares of Sandisk in a report on Friday, December 5th. They set a “buy” rating and a $322.00 target price for the company. Finally, Mizuho set a $600.00 target price on shares of Sandisk in a research report on Tuesday, January 27th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Sandisk currently has a consensus rating of “Moderate Buy” and an average price target of $542.85.

Sandisk Stock Up 4.6%

Sandisk stock opened at $695.51 on Wednesday. The firm has a market capitalization of $102.64 billion and a price-to-earnings ratio of -91.64. The company’s 50 day simple moving average is $327.14 and its 200 day simple moving average is $189.56. The company has a debt-to-equity ratio of 0.06, a current ratio of 3.11 and a quick ratio of 1.92. Sandisk Corporation has a fifty-two week low of $27.89 and a fifty-two week high of $725.00.

Sandisk (NASDAQ:SNDK) last posted its earnings results on Thursday, January 29th. The data storage provider reported $6.20 earnings per share (EPS) 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 firm had revenue of $3.03 billion during the quarter, compared to analysts’ expectations of $2.67 billion. The firm’s revenue was up 61.2% on a year-over-year basis.

Insider Buying and Selling at Sandisk

In other news, Director Necip Sayiner sold 1,271 shares of the stock in a transaction on Wednesday, December 3rd. The shares were sold at an average price of $195.14, for a total transaction of $248,022.94. Following the completion of the sale, the director owned 3,479 shares of the company’s stock, valued at $678,892.06. This represents a 26.76% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.21% of the stock is owned by company insiders.

Sandisk Profile

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.