Urgent: JPMorgan Chase Bank revealed that it purchased 2,512,574 shares of SanDisk (SNDK) during the second quarter, with a value exceeding USD 5.7 billion as of June 30.
According to its latest quarterly filing with the U.S. Securities and Exchange Commission, the bank increased its stake in SanDisk by 175.84% during the second quarter.
JPMorgan is now the fifth-largest institutional shareholder in SanDisk; it held 3,941,436 shares at the end of the second quarter, worth approximately USD 9 billion as of June 30.
The bank expects strong growth in the memory chip and data storage manufacturing company.
On August 14, JPMorgan raised its recommendation for SanDisk (SNDK) to "Overweight," setting a target price of USD 2,250 in December 2027, citing the companyโs positive results during the 2026 Investor Day held in New York.
The target price implies an upside of approximately 40% from current levels.
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