43,794 Shares in Penguin Solutions, Inc. $PENG Bought by Maverick Capital Ltd.

Maverick Capital Ltd. bought a new position in shares of Penguin Solutions, Inc. (NASDAQ:PENG) during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 43,794 shares of the company’s stock, valued at approximately $771,000. Maverick Capital Ltd. owned approximately 0.09% of Penguin Solutions at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in PENG. Dimensional Fund Advisors LP bought a new stake in shares of Penguin Solutions in the third quarter worth about $60,264,000. Invesco Ltd. grew its position in shares of Penguin Solutions by 596.8% in the 4th quarter. Invesco Ltd. now owns 1,992,415 shares of the company’s stock valued at $38,972,000 after purchasing an additional 1,706,482 shares during the period. William Blair Investment Management LLC acquired a new position in shares of Penguin Solutions in the 4th quarter valued at approximately $18,290,000. Ophir Asset Management Pty Ltd increased its stake in Penguin Solutions by 234.3% during the 4th quarter. Ophir Asset Management Pty Ltd now owns 1,211,612 shares of the company’s stock worth $23,699,000 after purchasing an additional 849,178 shares in the last quarter. Finally, Paradigm Capital Management Inc. NY increased its stake in Penguin Solutions by 73.8% during the 1st 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.

Insider Buying and Selling

In other Penguin Solutions news, Director Sandeep Nayyar sold 7,107 shares of the firm’s stock in a transaction that occurred on Tuesday, May 12th. The stock was sold at an average price of $43.48, for a total value of $309,012.36. Following the completion of the transaction, the director directly owned 25,417 shares in the company, valued at $1,105,131.16. This trade represents a 21.85% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Joseph Gates Clark sold 1,327 shares of the business’s stock in a transaction that occurred on Thursday, July 23rd. The stock was sold at an average price of $57.47, for a total value of $76,262.69. Following the transaction, the senior vice president directly owned 63,056 shares in the company, valued at $3,623,828.32. This trade represents a 2.06% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 59,678 shares of company stock worth $2,935,614. Insiders own 2.90% of the company’s stock.

Penguin Solutions Trading Down 8.3%

Shares of NASDAQ:PENG opened at $48.13 on Wednesday. The company’s 50-day moving average price is $63.14 and its two-hundred day moving average price is $37.43. Penguin Solutions, Inc. has a one year low of $16.04 and a one year high of $89.86. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.54 and a quick ratio of 1.10. The stock has a market capitalization of $2.47 billion, a PE ratio of 34.13 and a beta of 2.83.

Penguin Solutions (NASDAQ:PENG) last announced its quarterly earnings data on Tuesday, July 7th. The company reported $0.84 earnings per share for the quarter, beating the consensus estimate of $0.63 by $0.21. The company had revenue of $478.71 million during the quarter, compared to analysts’ expectations of $407.47 million. Penguin Solutions had a return on equity of 28.23% and a net margin of 6.44%.During the same quarter last year, the company earned $0.52 EPS. On average, equities analysts forecast that Penguin Solutions, Inc. will post 2.08 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. Weiss Ratings upgraded shares of Penguin Solutions from a “hold (c-)” rating to a “hold (c)” rating in a report on Wednesday, July 8th. Wall Street Zen downgraded shares of Penguin Solutions from a “strong-buy” rating to a “buy” rating in a research report on Sunday. Stifel Nicolaus raised their price objective on shares of Penguin Solutions from $66.00 to $75.00 and gave the stock a “buy” rating in a report on Wednesday, July 8th. Citizens Jmp raised their price objective on shares of Penguin Solutions from $65.00 to $85.00 and gave the stock a “market outperform” rating in a report on Wednesday, July 8th. Finally, Citigroup reaffirmed an “outperform” rating on shares of Penguin Solutions in a research report on Wednesday, July 8th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Penguin Solutions has a consensus rating of “Moderate Buy” and an average price target of $63.33.

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.