Latest News Support Hedge Funds’ Bullish Sentiment Towards Storage Device Stocks

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SanDisk Corporation (NASDAQ:SNDK) was the most popular storage devices company among the investors that we track, as it was included in the equity portfolios of 40 of them and these funds held stakes worth $1.33 billion in aggregate. Moreover, amid an 8% drop of the stock during the quarter, the number of funds with long positions increased by 10, while the aggregate value of holdings inched down slightly from $1.35 billion at the end of March. Among these funds, David Cohen and Harold Levy’s Iridian Asset Management reported the largest stake in SanDisk Corporation (NASDAQ:SNDK), of 7.02 million shares, followed by Michael Lowenstein’s Kensico Capital with a position of 4.37 million shares.

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On the other hand, Seagate Technology PLC (NASDAQ:STX) saw the number of funds with long positions decline by four to 35 during the second quarter, while the total value of their holdings slid to $614.84 million from $654.46 million, impacted by an 8% depreciation of the stock. Iridian Asset Management was also the top shareholder of Seagate Technology PLC (NASDAQ:STX) even though it reduced its stake by 19% over the quarter to 3.48 million shares.

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Disclosure: None

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