Globeflex Capital L P Purchases Shares of 18,100 Penguin Solutions, Inc. $PENG

Globeflex Capital L P purchased a new stake in Penguin Solutions, Inc. (NASDAQ:PENG) during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 18,100 shares of the company’s stock, valued at approximately $1,376,000.

A number of other institutional investors have also made changes to their positions in PENG. William Blair Investment Management LLC bought a new stake in Penguin Solutions during the 4th quarter valued at approximately $18,290,000. Maverick Capital Ltd. bought a new position in Penguin Solutions in the 1st quarter worth approximately $771,000. Fisher Asset Management LLC bought a new position in Penguin Solutions in the 4th quarter worth approximately $716,000. California State Teachers Retirement System lifted its holdings in shares of 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 buying an additional 25,763 shares during the last quarter. Finally, Pacer Advisors Inc. lifted its holdings in shares of 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 buying an additional 66,460 shares during the last quarter.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. Weiss Ratings raised Penguin Solutions from a “hold (c-)” rating to a “hold (c)” rating in a research report on Wednesday, July 8th. Stifel Nicolaus upped their target price on shares of Penguin Solutions from $66.00 to $75.00 and gave the company a “buy” rating in a research note on Wednesday, July 8th. Citigroup reissued an “outperform” rating on shares of Penguin Solutions in a report on Wednesday, July 8th. Wall Street Zen lowered shares of Penguin Solutions from a “strong-buy” rating to a “buy” rating in a research report on Sunday, July 26th. Finally, Barclays downgraded shares of Penguin Solutions from an “equal weight” rating to an “underweight” rating and set a $40.00 price objective on the stock. in a report on Monday, July 20th. 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 given a Sell rating to the stock. According to data from MarketBeat, Penguin Solutions currently has a consensus rating of “Moderate Buy” and a consensus target price of $63.33.

Penguin Solutions Price Performance

Shares of NASDAQ:PENG opened at $50.68 on Tuesday. The firm has a market capitalization of $2.60 billion, a PE ratio of 35.94 and a beta of 2.87. 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 1-year low of $16.04 and a 1-year high of $89.86. The business’s 50 day moving average is $61.57 and its 200-day moving average is $42.20.

Penguin Solutions (NASDAQ:PENG) last issued its earnings results on Tuesday, July 7th. The company reported $0.84 EPS for the quarter, beating analysts’ consensus estimates of $0.63 by $0.21. The business had revenue of $478.71 million during the quarter, compared to analyst estimates of $407.47 million. Penguin Solutions had a return on equity of 28.23% and a net margin of 6.44%.During the same period in the prior year, the company posted $0.52 earnings per share. Sell-side analysts predict that Penguin Solutions, Inc. will post 2.08 earnings per share for the current year.

Insider Buying and Selling at Penguin Solutions

In other news, SVP Anne Kuykendall sold 4,000 shares of the stock in a transaction on Monday, June 15th. The shares were sold at an average price of $64.38, for a total value of $257,520.00. Following the completion of the transaction, the senior vice president owned 120,794 shares in the company, valued at approximately $7,776,717.72. This represents a 3.21% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Joseph Gates Clark sold 1,327 shares of the stock in a transaction on Thursday, July 23rd. The shares were sold at an average price of $57.47, for a total transaction of $76,262.69. Following the completion of the transaction, the senior vice president owned 63,056 shares of the company’s stock, valued at approximately $3,623,828.32. This represents a 2.06% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 15,678 shares of company stock worth $943,146 in the last three months. 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.