Mofferies Investment Research initiated coverage on SanDisk Corp. (SNDK). The firm assigned a "NEUTRAL" rating. It set a price target of $1,950. SanDisk stock saw a dramatic rise in 2026. The stock reached around $2,200 by late June. This rise was driven by a "NAND supercycle."
The initiation note highlights SanDisk's position as a pure-play NAND flash provider. The company benefits from strong demand in AI infrastructure. This demand has led to robust pricing power. SanDisk reported impressive financial results. Revenue increased 251% year-over-year in the last reported quarter. The firm also noted SanDisk's joint venture with Kioxia. This venture significantly contributes to its global production capacity.
Patton Fund Management Inc. reported a significant increase in its SanDisk stake. This increase occurred during the first quarter. Overall market sentiment remains generally bullish on SanDisk. This sentiment stems from high demand for memory chips in the AI sector. However, some insiders have reportedly been selling shares.