SanDisk Shares Surge on Strong Q3 Earnings and Draw New Institutional Buying

SanDisk reported fiscal Q3 results that far exceeded expectations, posting non‑GAAP earnings of $23.41 per share on revenue of $5.95 billion, a 251 % year‑over‑year increase and a net margin of 34.19 %. The upbeat numbers propelled the stock up 54.6 % in May, though it slipped about 8 % in early June as broader market concerns over strong job growth and potential Federal Reserve rate hikes weighed on technology shares.

In the fourth quarter, several institutional investors added or expanded positions in SanDisk. Pinebridge Investments bought a new stake worth roughly $4.2 million, while Trivest Advisors increased its holding by about $115 million, Parallel Advisors added $102 000, Arrowpoint Investment Partners (Singapore) invested about $1.4 million, Prudential PLC added $8.66 million, and Vise Technologies increased its stake by $637 000. Analyst coverage was upbeat, with Zacks, Arete, KGI Securities, Wells Fargo and Morgan Stanley raising price targets and issuing buy or strong‑buy ratings.