Kennedy Capital Management LLC Has $21.68 Million Stock Holdings in Penguin Solutions, Inc. $PENG

Kennedy Capital Management LLC boosted its holdings in shares of Penguin Solutions, Inc. (NASDAQ:PENG) by 11.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,108,336 shares of the company’s stock after buying an additional 116,168 shares during the period. Kennedy Capital Management LLC owned approximately 2.11% of Penguin Solutions worth $21,679,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of PENG. Farther Finance Advisors LLC raised its holdings in Penguin Solutions by 187.0% during the fourth quarter. Farther Finance Advisors LLC now owns 1,452 shares of the company’s stock worth $28,000 after buying an additional 946 shares during the last quarter. Kestra Advisory Services LLC acquired a new position in Penguin Solutions during the fourth quarter worth $29,000. Raymond James Financial Inc. acquired a new position in Penguin Solutions during the second quarter worth $37,000. Jones Financial Companies Lllp raised its holdings in Penguin Solutions by 4,131.7% during the third quarter. Jones Financial Companies Lllp now owns 1,735 shares of the company’s stock worth $45,000 after buying an additional 1,694 shares during the last quarter. Finally, Allworth Financial LP raised its holdings in Penguin Solutions by 41.4% during the third quarter. Allworth Financial LP now owns 1,792 shares of the company’s stock worth $47,000 after buying an additional 525 shares during the last quarter.

Penguin Solutions Price Performance

PENG opened at $64.13 on Friday. The firm has a market cap of $3.25 billion, a P/E ratio of 89.07 and a beta of 2.89. The firm has a 50-day moving average of $41.78 and a 200 day moving average of $27.26. 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 fifty-two week low of $16.04 and a fifty-two week high of $73.24.

Penguin Solutions (NASDAQ:PENG) last posted its quarterly earnings results on Wednesday, April 1st. The company reported $0.52 earnings per share for the quarter, beating the consensus estimate of $0.43 by $0.09. The company had revenue of $343.00 million during 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%. On average, research analysts expect that Penguin Solutions, Inc. will post 1.79 EPS for the current year.

Analyst Ratings Changes

Several brokerages have recently commented on PENG. Rosenblatt Securities increased their target price on shares of Penguin Solutions from $54.00 to $65.00 and gave the company a “buy” rating in a report on Tuesday, June 2nd. Barclays downgraded shares of Penguin Solutions from an “overweight” rating to an “equal weight” rating and increased their target price for the company from $23.00 to $27.00 in a report on Wednesday, April 22nd. Stifel Nicolaus increased their target price on shares of Penguin Solutions from $24.00 to $66.00 and gave the company a “buy” rating in a report on Tuesday, June 2nd. Wall Street Zen upgraded shares of Penguin Solutions from a “hold” rating to a “buy” rating in a report on Sunday, May 17th. Finally, Needham & Company LLC increased 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. Six research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $36.88.

Insider Activity at Penguin Solutions

In related news, Director Maximiliane C. Straub sold 8,000 shares of the stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $45.00, for a total transaction of $360,000.00. Following the completion of the transaction, the director owned 58,975 shares in the company, valued at approximately $2,653,875. This represents a 11.94% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Anne Kuykendall sold 4,000 shares of the stock in a transaction dated Monday, March 16th. The shares were sold at an average price of $17.75, for a total transaction of $71,000.00. Following the transaction, the senior vice president owned 131,352 shares of the company’s stock, valued at approximately $2,331,498. The trade was a 2.96% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 83,120 shares of company stock worth $3,300,214 in the last ninety days. Corporate insiders own 2.90% of the company’s stock.

Penguin Solutions 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.