Sandisk Q3 Institutional Stake Hits 3,225 Shares; Price Targets Raised to $490
Strs Ohio initiated a 3,225-share Sandisk position in Q3, investing $362,000, while Director Necip Sayiner sold 1,271 shares for $248,023, trimming his stake by 26.8%. Benchmark raised its price target from $260 to $450 and Citigroup lifted its target from $280 to $490, contributing to an average PT of $490.60.
1. Institutional Purchases Surge
In the third quarter, the State Teachers Retirement System of Ohio initiated a new position in Sandisk Corporation, purchasing 3,225 shares at a value of approximately 362,000. Several other investment firms also increased exposure: Covestor Ltd established a stake worth about 37,000; CVA Family Office added 28,000; Universal Beteiligungs und Servicegesellschaft mbH bought 1,816,000; Jackson Thornton Wealth Management invested 200,000; and NorthCrest Asset Management committed 379,000. These moves reflect growing confidence among institutional investors in Sandisk’s positioning within the data storage market.
2. Notable Insider Transaction Reduces Holding
Director Necip Sayiner completed a sale of 1,271 shares on December 3, executing at an average price of 195.14 for total proceeds of 248,022.94. Following this sale, Sayiner’s direct holding stands at 3,479 shares, valued at 678,892.06—a 26.76% reduction in his position. Insider ownership across the company remains modest at 0.21%, and this transaction was duly reported in an SEC filing.
3. Analyst Community Revises Ratings and Targets
Wall Street sentiment toward Sandisk has grown increasingly positive this quarter. On January 15, Benchmark raised its price target from 260 to 450 and maintained a buy rating. Citigroup followed on January 20 with an upgrade of its target from 280 to 490 alongside a buy recommendation. Bank of America lifted its target from 300 to 390 on January 7, also signaling a buy. Conversely, Zacks Research adjusted its view from strong-buy to hold on January 22. UBS Group reaffirmed its buy stance. Among 23 analysts tracked, one carries a strong-buy, 14 a buy, seven a hold and one a sell, yielding an average consensus of Moderate Buy and a mean target of 490.60.
4. Operational and Strategic Highlights from Q2 Results
In its fiscal second quarter, Sandisk reported revenue of 3.02 billion—up 61% year-over-year—and non-GAAP earnings per share materially above consensus. Management attributed the outperformance to robust pricing in enterprise, data center and AI workloads. Guidance for the next quarter calls for revenue between 4.4 and 4.8 billion and non-GAAP EPS of 12 to 14, underscoring continued supply tightness and strong end-market demand. Additionally, Sandisk extended its Yokkaichi joint venture through 2034, securing manufacturing capacity and supply visibility for its NAND output.