Inceptionr LLC Buys New Shares in Penguin Solutions, Inc. $PENG

Inceptionr LLC purchased a new position in shares of Penguin Solutions, Inc. (NASDAQ:PENG) in the 1st quarter, Holdings Channel reports. The firm purchased 19,285 shares of the company’s stock, valued at approximately $339,000.

Other large investors also recently bought and sold shares of the company. Dimensional Fund Advisors LP acquired a new position in shares of Penguin Solutions in the 3rd quarter valued at $60,264,000. Invesco Ltd. increased its holdings in shares of Penguin Solutions by 596.8% during the 4th quarter. Invesco Ltd. now owns 1,992,415 shares of the company’s stock worth $38,972,000 after buying an additional 1,706,482 shares during the last quarter. William Blair Investment Management LLC acquired a new stake in shares of Penguin Solutions during the 4th quarter worth $18,290,000. Ophir Asset Management Pty Ltd increased its holdings in shares of 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 buying an additional 849,178 shares during the last quarter. Finally, Royal Bank of Canada purchased a new position in shares of Penguin Solutions in the 1st quarter worth $7,250,000.

Penguin Solutions Stock Performance

NASDAQ:PENG opened at $52.49 on Tuesday. The firm’s fifty day simple moving average is $63.11 and its 200 day simple moving average is $37.22. The company has a current ratio of 1.54, a quick ratio of 1.10 and a debt-to-equity ratio of 0.65. Penguin Solutions, Inc. has a twelve month low of $16.04 and a twelve month high of $89.86. The firm has a market capitalization of $2.69 billion, a price-to-earnings ratio of 37.23 and a beta of 2.83.

Penguin Solutions (NASDAQ:PENG) last released its quarterly earnings data on Tuesday, July 7th. The company reported $0.84 EPS for the quarter, beating 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 company had revenue of $478.71 million for the quarter, compared to analyst estimates of $407.47 million. During the same period last year, the company posted $0.52 earnings per share. As a group, equities research analysts expect that Penguin Solutions, Inc. will post 2.08 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Sandeep Nayyar sold 7,107 shares of the firm’s stock in a transaction dated Tuesday, May 12th. The stock was sold at an average price of $43.48, for a total transaction of $309,012.36. Following the sale, the director directly owned 25,417 shares in the company, valued at approximately $1,105,131.16. This trade represents a 21.85% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Anne Kuykendall sold 4,000 shares of the business’s stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $64.38, for a total value of $257,520.00. Following the transaction, the senior vice president directly owned 120,794 shares in the company, valued at $7,776,717.72. This trade represents a 3.21% 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 58,351 shares of company stock worth $2,859,351 over the last three months. 2.90% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of brokerages recently weighed in on PENG. Citizens Jmp lifted their target price on Penguin Solutions from $65.00 to $85.00 and gave the company a “market outperform” rating in a report on Wednesday, July 8th. Stifel Nicolaus upped their price target on Penguin Solutions from $66.00 to $75.00 and gave the stock a “buy” rating in a research note on Wednesday, July 8th. Zacks Research upgraded Penguin Solutions from a “hold” rating to a “strong-buy” rating in a report on Tuesday, June 30th. Wall Street Zen lowered Penguin Solutions from a “strong-buy” rating to a “buy” rating in a research note on Sunday. Finally, Citigroup reiterated an “outperform” rating on shares of Penguin Solutions in a report on Wednesday, July 8th. One investment 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. According to MarketBeat, Penguin Solutions currently has an average rating of “Moderate Buy” and an average price target of $63.33.

Penguin Solutions Company 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.