Core Viewpoint - Sandisk has experienced a significant surge in its market capitalization, making it a strong candidate for promotion to the S&P 500 due to its size and performance within the S&P SmallCap 600 [1][2]. Company Overview - Sandisk, a spinout from Western Digital, focuses on flash storage and solid-state drives, and has seen its market cap rise to approximately $40 billion after a 515% increase over the past three months [1][3]. - The company was established as a dedicated flash-storage entity after Western Digital separated its traditional hard-drive division from its solid-state storage business in early 2025 [3]. Financial Performance - Sandisk reported revenue of about $1.70 billion, which represents a 1% decrease year-on-year and a 10% decrease sequentially, but still exceeded guidance [5]. - The non-GAAP loss per share was $0.30, aligning with the high end of expectations, while the company anticipates improving gross margins and higher revenue in the next quarter due to price increases and supply discipline [5]. Index Eligibility - Sandisk became eligible for the S&P 500 after joining the S&P SmallCap 600 in February 2025, following its spinout from Western Digital [4]. - To qualify for the S&P 500, a company must meet specific criteria, including a market value typically between $22–23 billion, profitability in the most recent quarter and over the past year, and a minimum public float of 10% [7].

Group 1 - ACM Research Inc. (NASD: ACMR) will be added to the S&P SmallCap 600 index effective September 26, 2025, replacing WK Kellogg Co. (NYSE: KLG) [1] - The acquisition of WK Kellogg by the Ferrero Group is expected to close soon, pending final closing conditions [1] - The changes will take effect prior to the opening of trading on the specified date [1]

Core Points - Veracyte Inc. will replace Triumph Group Inc. in the S&P SmallCap 600 effective July 29, 2025 [1] - The acquisition of Triumph Group by Warburg Pincus LLC and Berkshire Partners LLC is expected to close soon, pending final conditions [1] Summary by Category Company Changes - Veracyte Inc. (Ticker: VCYT) will be added to the S&P SmallCap 600 in the Health Care sector [1] - Triumph Group Inc. (Ticker: TGI) will be deleted from the S&P SmallCap 600 in the Industrials sector [1] Index Information - The changes will take effect prior to the opening of trading on the specified date [1]

Core Points - Sterling Infrastructure Inc. will replace Patterson Companies Inc. in the S&P SmallCap 600 effective April 17, 2025 [1] - The acquisition of Patterson Companies by Patient Square Capital is expected to be completed soon, pending final closing conditions [1] Summary by Category Index Changes - Effective Date: April 17, 2025 - Addition: Sterling Infrastructure Inc. (Ticker: STRL) in the Industrials sector [1] - Deletion: Patterson Companies Inc. (Ticker: PDCO) in the Health Care sector [1]

Core Points - Enact Holdings Inc. will replace SolarWinds Corp. in the S&P SmallCap 600 effective April 16, 2025 [1] - The acquisition of SolarWinds by Turn/River Capital is expected to close soon, pending final conditions [1] Summary by Category Index Changes - Enact Holdings will be added to the S&P SmallCap 600 under the Financials sector [1] - SolarWinds will be deleted from the S&P SmallCap 600 under the Information Technology sector [1] Company Actions - The effective date for these changes is prior to the opening of trading on April 16, 2025 [1] - The acquisition deal for SolarWinds is in progress and awaiting final closing conditions [1]