Goldman Sachs, Markel, or SanDisk: Who's Next for a Stock Split?

Wall Street has rediscovered the stock split. KLA (NASDAQ: KLAC) announced a 10-for-1 forward stock split in May 2026, alongside its fiscal Q3 earnings beat and paired with a roughly 21% dividend hike, with shares trading around the $1,800 range. Earlier this year, Booking Holdings (NASDAQ: BKNG) completed an announced 25-to-1 split, bringing its share price down.

What is a Stock Split?

A stock split increases the number of shares outstanding by dividing each existing share into multiple shares, reducing the price per share proportionally. The market capitalization remains unchanged. The goal is often to make shares more affordable for retail investors.

Who Are the Next Candidates?

Analysts and investors are speculating on which companies might follow KLA and Booking. Among the names frequently mentioned:

• Goldman Sachs (NYSE: GS): The investment bank's stock trades around $500, a level that historically prompts splits.
• Markel (NYSE: MKL): The insurance and investment firm's shares trade above $1,500, making it a strong candidate.
• SanDisk: The data storage company could benefit from a split to improve liquidity.

Context

The wave of stock splits comes after a long period of avoidance by major companies. Their return reflects a desire to attract retail investors and improve liquidity. However, splits do not affect a company's intrinsic value.

What This Means for Investors

Stock splits do not change a company's fundamentals, but they may increase short-term demand due to the lower nominal price. Investors should evaluate the underlying reasons for the split and consider the company's financial performance before making any decisions.