Penguin Solutions, Inc. $PENG Stake Reduced by Vanguard Group Inc.

Vanguard Group Inc. lessened its holdings in shares of Penguin Solutions, Inc. (NASDAQ:PENG) by 3.6% in the fourth quarter, HoldingsChannel reports. The fund owned 6,353,834 shares of the company’s stock after selling 238,730 shares during the period. Vanguard Group Inc. owned approximately 0.12% of Penguin Solutions worth $124,281,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently added to or reduced their stakes in PENG. Farther Finance Advisors LLC boosted its position in Penguin Solutions by 187.0% during the 4th quarter. Farther Finance Advisors LLC now owns 1,452 shares of the company’s stock worth $28,000 after acquiring an additional 946 shares during the period. Raymond James Financial Inc. acquired a new position in Penguin Solutions during the 2nd quarter worth $37,000. Strs Ohio acquired a new position in Penguin Solutions during the 3rd quarter worth $42,000. Jones Financial Companies Lllp boosted its position in Penguin Solutions by 4,131.7% during the 3rd quarter. Jones Financial Companies Lllp now owns 1,735 shares of the company’s stock worth $45,000 after acquiring an additional 1,694 shares during the period. Finally, Allworth Financial LP boosted its position in Penguin Solutions by 41.4% during the 3rd quarter. Allworth Financial LP now owns 1,792 shares of the company’s stock worth $47,000 after acquiring an additional 525 shares during the period.

Insider Buying and Selling at Penguin Solutions

In other news, SVP Joseph Gates Clark sold 5,000 shares of the stock in a transaction dated Friday, May 8th. The stock was sold at an average price of $39.99, for a total transaction of $199,950.00. Following the transaction, the senior vice president owned 76,776 shares of the company’s stock, valued at approximately $3,070,272.24. This represents a 6.11% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Anne Kuykendall sold 4,000 shares of the business’s stock in a transaction that occurred on Monday, March 16th. The stock was sold at an average price of $17.75, for a total value of $71,000.00. Following the completion of the sale, the senior vice president owned 131,352 shares of the company’s stock, valued at approximately $2,331,498. This trade represents a 2.96% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 33,769 shares of company stock valued at $898,333. 2.90% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the company. Stifel Nicolaus reduced their price target on Penguin Solutions from $27.00 to $24.00 and set a “buy” rating for the company in a research report on Thursday, April 2nd. The Goldman Sachs Group assumed coverage on Penguin Solutions in a research report on Tuesday, January 13th. They set a “buy” rating and a $25.00 price target for the company. Needham & Company LLC boosted their price target on Penguin Solutions from $25.00 to $27.00 and gave the stock a “buy” rating in a research report on Thursday, April 2nd. Zacks Research upgraded Penguin Solutions from a “hold” rating to a “strong-buy” rating in a report on Tuesday, April 7th. Finally, Barclays cut Penguin Solutions from an “overweight” rating to an “equal weight” rating and raised their target price for the company from $23.00 to $27.00 in a research note on Wednesday, April 22nd. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat, Penguin Solutions has an average rating of “Moderate Buy” and a consensus price target of $27.25.

Penguin Solutions Stock Up 1.4%

PENG stock opened at $44.13 on Wednesday. Penguin Solutions, Inc. has a 52-week low of $16.04 and a 52-week high of $46.75. The company’s 50 day simple moving average is $23.98 and its 200-day simple moving average is $21.49. The company has a debt-to-equity ratio of 1.09, a current ratio of 2.10 and a quick ratio of 1.55. The firm has a market capitalization of $2.24 billion, a P/E ratio of 61.29 and a beta of 2.66.

Penguin Solutions (NASDAQ:PENG) last posted its quarterly earnings data on Wednesday, April 1st. The company reported $0.52 EPS for the quarter, topping analysts’ consensus estimates 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 analyst estimates of $339.00 million. As a group, equities research analysts anticipate that Penguin Solutions, Inc. will post 1.66 EPS for the current year.

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.