Mitsubishi UFJ Asset Management Co. Ltd. Invests $3.34 Million in Penguin Solutions, Inc. $PENG

Mitsubishi UFJ Asset Management Co. Ltd. bought a new position in Penguin Solutions, Inc. (NASDAQ:PENG) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 43,931 shares of the company’s stock, valued at approximately $3,339,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Global Retirement Partners LLC acquired a new position in Penguin Solutions in the second quarter worth $26,000. Osaic Holdings Inc. raised its holdings in shares of Penguin Solutions by 20.8% in the second quarter. Osaic Holdings Inc. now owns 3,583 shares of the company’s stock valued at $71,000 after buying an additional 617 shares during the last quarter. Covestor Ltd lifted its position in Penguin Solutions by 4.7% during the 4th quarter. Covestor Ltd now owns 15,535 shares of the company’s stock worth $304,000 after buying an additional 695 shares in the last quarter. M&T Bank Corp lifted its position in Penguin Solutions by 7.0% during the 4th quarter. M&T Bank Corp now owns 10,851 shares of the company’s stock worth $212,000 after buying an additional 706 shares in the last quarter. Finally, Optimize Financial Inc grew its holdings in Penguin Solutions by 1.5% during the 4th quarter. Optimize Financial Inc now owns 56,354 shares of the company’s stock worth $1,102,000 after acquiring an additional 808 shares during the last quarter.

Insiders Place Their Bets

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

Analysts Set New Price Targets

A number of equities analysts have weighed in on PENG shares. Barclays downgraded shares of Penguin Solutions from an “equal weight” rating to an “underweight” rating and set a $40.00 target price for the company. in a research note on Monday, July 20th. Weiss Ratings raised shares of Penguin Solutions from a “hold (c-)” rating to a “hold (c)” rating in a research note on Wednesday, July 8th. Rosenblatt Securities raised their price target on shares of Penguin Solutions from $65.00 to $75.00 and gave the company a “buy” rating in a report on Monday, July 6th. Citigroup restated an “outperform” rating on shares of Penguin Solutions in a research report on Wednesday, July 8th. Finally, Wall Street Zen lowered Penguin Solutions from a “strong-buy” rating to a “buy” rating in a research note on Sunday, July 26th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Penguin Solutions has an average rating of “Moderate Buy” and an average price target of $63.33.

Penguin Solutions Trading Up 2.9%

NASDAQ PENG opened at $52.62 on Friday. Penguin Solutions, Inc. has a 52 week low of $16.04 and a 52 week high of $89.86. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.10 and a current ratio of 1.54. The stock’s 50 day moving average price is $61.83 and its two-hundred day moving average price is $41.82. The stock has a market capitalization of $2.70 billion, a price-to-earnings ratio of 37.32 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 (EPS) for the quarter, beating analysts’ consensus estimates of $0.63 by $0.21. Penguin Solutions had a net margin of 6.44% and a return on equity of 28.23%. The company had revenue of $478.71 million for the quarter, compared to the consensus estimate of $407.47 million. During the same period last year, the company earned $0.52 earnings per share. As a group, analysts anticipate that Penguin Solutions, Inc. will post 2.08 earnings per share for the current fiscal 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.