Penguin Solutions (NASDAQ:PENG) Director Sells $360,000.00 in Stock

Penguin Solutions, Inc. (NASDAQ:PENG) Director Maximiliane Straub sold 8,000 shares of Penguin Solutions stock in a transaction on Monday, May 11th. The stock was sold at an average price of $45.00, for a total transaction of $360,000.00. Following the transaction, the director owned 58,975 shares in the company, valued at approximately $2,653,875. This trade represents a 11.94% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink.

Penguin Solutions Price Performance

Shares of NASDAQ:PENG opened at $46.82 on Friday. The firm has a market cap of $2.38 billion, a PE ratio of 65.03 and a beta of 2.66. The firm’s fifty day moving average is $25.71 and its 200-day moving average is $22.04. The company has a debt-to-equity ratio of 1.09, a quick ratio of 1.55 and a current ratio of 2.10. Penguin Solutions, Inc. has a 52 week low of $16.04 and a 52 week high of $53.27.

Penguin Solutions (NASDAQ:PENG) last issued its quarterly earnings results on Wednesday, April 1st. The company reported $0.52 EPS for the quarter, topping analysts’ consensus estimates of $0.43 by $0.09. The company had revenue of $343.00 million for the quarter, compared to analyst estimates of $339.00 million. Penguin Solutions had a net margin of 4.07% and a return on equity of 19.94%. Sell-side analysts predict that Penguin Solutions, Inc. will post 1.66 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. Barclays lowered shares of Penguin Solutions from an “overweight” rating to an “equal weight” rating and lifted their price target for the stock from $23.00 to $27.00 in a report on Wednesday, April 22nd. Zacks Research upgraded shares of Penguin Solutions from a “hold” rating to a “strong-buy” rating in a report on Tuesday, April 7th. Needham & Company LLC boosted their target price on shares of Penguin Solutions from $25.00 to $27.00 and gave the company a “buy” rating in a report on Thursday, April 2nd. Stifel Nicolaus dropped their target price on shares of Penguin Solutions from $27.00 to $24.00 and set a “buy” rating on the stock in a report on Thursday, April 2nd. Finally, Rosenblatt Securities restated a “buy” rating and issued a $30.00 target price on shares of Penguin Solutions in a report on Monday, March 30th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $27.25.

Hedge Funds Weigh In On Penguin Solutions

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Paradigm Capital Management Inc. NY lifted its holdings in Penguin Solutions by 73.8% in the first quarter. Paradigm Capital Management Inc. NY now owns 1,605,100 shares of the company’s stock valued at $28,250,000 after buying an additional 681,700 shares during the period. Inceptionr LLC acquired a new position in Penguin Solutions in the first quarter valued at $339,000. Sei Investments Co. lifted its holdings in Penguin Solutions by 21.9% in the first quarter. Sei Investments Co. now owns 173,981 shares of the company’s stock valued at $3,062,000 after buying an additional 31,212 shares during the period. Lido Advisors LLC lifted its holdings in Penguin Solutions by 23.2% in the first quarter. Lido Advisors LLC now owns 14,943 shares of the company’s stock valued at $263,000 after buying an additional 2,817 shares during the period. Finally, State of Wyoming acquired a new position in Penguin Solutions in the first quarter valued at $81,000.

About Penguin Solutions

Penguin Solutions, Inc engages in the designing and development of enterprise solutions worldwide. It operates through three segments: Advanced Computing, Integrated Memory, and Optimized LED. It offers dynamic random access memory modules, solid-state and flash storage, and other advanced integrated memory solutions for networking and telecom, data analytics, artificial intelligence and machine learning applications; and supply chain services, including procurement, logistics, inventory management, temporary warehousing, programming, kitting, and packaging services.