State of Wyoming Buys New Holdings in Penguin Solutions, Inc. $PENG

State of Wyoming purchased a new position in shares of Penguin Solutions, Inc. (NASDAQ:PENG) in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 13,193 shares of the company’s stock, valued at approximately $1,003,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. William Blair Investment Management LLC acquired a new position in shares of Penguin Solutions during the 4th quarter worth approximately $18,290,000. Maverick Capital Ltd. acquired a new stake in Penguin Solutions during the 1st quarter valued at $771,000. Fisher Asset Management LLC acquired a new stake in Penguin Solutions during the 4th quarter valued at $716,000. California State Teachers Retirement System boosted its position in Penguin Solutions by 52.8% during the first quarter. California State Teachers Retirement System now owns 74,580 shares of the company’s stock worth $1,313,000 after purchasing an additional 25,763 shares during the period. Finally, Pacer Advisors Inc. boosted its position in Penguin Solutions by 34.0% during the first quarter. Pacer Advisors Inc. now owns 261,776 shares of the company’s stock worth $4,607,000 after purchasing an additional 66,460 shares during the period.

Penguin Solutions Stock Performance

Shares of NASDAQ PENG opened at $63.80 on Friday. 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’s fifty day moving average price is $62.53 and its two-hundred day moving average price is $40.56. Penguin Solutions, Inc. has a one year low of $16.04 and a one year high of $89.86. The firm has a market cap of $3.27 billion, a price-to-earnings ratio of 45.25 and a beta of 2.87.

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

Insider Activity

In related news, SVP Anne Kuykendall sold 4,000 shares of the firm’s stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $54.45, for a total transaction of $217,800.00. Following the transaction, the senior vice president directly owned 124,794 shares of the company’s stock, valued at approximately $6,795,033.30. This trade represents a 3.11% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Joseph Gates Clark sold 10,351 shares of the firm’s stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $58.87, for a total transaction of $609,363.37. Following the transaction, the senior vice president directly owned 66,425 shares in the company, valued at approximately $3,910,439.75. This represents a 13.48% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 19,678 shares of company stock worth $1,160,946 over the last 90 days. 2.90% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

PENG has been the topic of several research analyst reports. Needham & Company LLC increased their price objective on shares of Penguin Solutions from $60.00 to $80.00 and gave the company a “buy” rating in a research report on Wednesday, July 8th. Citizens Jmp lifted their target price 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. Zacks Research raised shares of Penguin Solutions from a “hold” rating to a “strong-buy” rating in a report on Tuesday, June 30th. Wall Street Zen cut shares of Penguin Solutions from a “strong-buy” rating to a “buy” rating in a report on Sunday, July 26th. Finally, Stifel Nicolaus increased their price target on shares of Penguin Solutions from $66.00 to $75.00 and gave the company a “buy” rating in a report on Wednesday, July 8th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $63.33.

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.