Penguin Solutions (NASDAQ:PENG) Director Sells $147,000.00 in Stock

Penguin Solutions, Inc. (NASDAQ:PENG) Director Maximiliane Straub sold 3,000 shares of Penguin Solutions stock in a transaction on Thursday, May 14th. The stock was sold at an average price of $49.00, for a total transaction of $147,000.00. Following the sale, the director owned 51,975 shares of the company’s stock, valued at $2,546,775. The trade was a 5.46% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Penguin Solutions Stock Performance

Shares of Penguin Solutions stock traded down $1.11 during trading on Monday, hitting $45.71. 3,237,312 shares of the company’s stock were exchanged, compared to its average volume of 1,760,251. The company has a debt-to-equity ratio of 1.09, a quick ratio of 1.55 and a current ratio of 2.10. The business has a 50-day simple moving average of $25.71 and a 200-day simple moving average of $22.04. Penguin Solutions, Inc. has a 52-week low of $16.04 and a 52-week high of $53.27. The stock has a market capitalization of $2.32 billion, a price-to-earnings ratio of 63.49 and a beta of 2.66.

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

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on PENG. Stifel Nicolaus reduced their target price on shares of Penguin Solutions from $27.00 to $24.00 and set a “buy” rating for the company in a report on Thursday, April 2nd. Needham & Company LLC raised their target price on shares of Penguin Solutions from $25.00 to $27.00 and gave the stock a “buy” rating in a report on Thursday, April 2nd. Zacks Research raised shares of Penguin Solutions from a “hold” rating to a “strong-buy” rating in a report on Tuesday, April 7th. Rosenblatt Securities reissued a “buy” rating and set a $30.00 target price on shares of Penguin Solutions in a report on Monday, March 30th. Finally, Wall Street Zen raised shares of Penguin Solutions from a “hold” rating to a “buy” rating in a report on Sunday. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, Penguin Solutions currently has a consensus rating of “Moderate Buy” and an average target price of $27.25.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in PENG. Dimensional Fund Advisors LP purchased a new position in Penguin Solutions in the third quarter valued at $60,264,000. Invesco Ltd. increased its holdings in Penguin Solutions by 596.8% in the fourth quarter. Invesco Ltd. now owns 1,992,415 shares of the company’s stock valued at $38,972,000 after buying an additional 1,706,482 shares in the last quarter. William Blair Investment Management LLC purchased a new position in Penguin Solutions in the fourth quarter valued at $18,290,000. Ophir Asset Management Pty Ltd increased its holdings in Penguin Solutions by 234.3% in the fourth quarter. Ophir Asset Management Pty Ltd now owns 1,211,612 shares of the company’s stock valued at $23,699,000 after buying an additional 849,178 shares in the last quarter. Finally, Paradigm Capital Management Inc. NY increased its stake in shares of Penguin Solutions by 73.8% during the first quarter. Paradigm Capital Management Inc. NY now owns 1,605,100 shares of the company’s stock worth $28,250,000 after purchasing an additional 681,700 shares in the last quarter.

Penguin Solutions Company Profile

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.