UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Reduces Stock Position in Penguin Solutions, Inc. $PENG

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC reduced its stake in shares of Penguin Solutions, Inc. (NASDAQ:PENG) by 44.1% in the 2nd quarter, Holdings Channel.com reports. The fund owned 139,266 shares of the company’s stock after selling 109,816 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Penguin Solutions were worth $10,586,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in PENG. Global Retirement Partners LLC acquired a new position in shares of Penguin Solutions in the 2nd quarter valued at about $26,000. Farther Finance Advisors LLC boosted its position in Penguin Solutions by 187.0% during the 4th quarter. Farther Finance Advisors LLC now owns 1,452 shares of the company’s stock worth $28,000 after acquiring an additional 946 shares during the period. Kestra Advisory Services LLC bought a new position in Penguin Solutions in the 4th quarter valued at about $29,000. Allworth Financial LP acquired a new position in shares of Penguin Solutions during the second quarter valued at approximately $37,000. Finally, Raymond James Financial Inc. bought a new stake in shares of Penguin Solutions in the 2nd quarter worth $37,000.

Insider Transactions at Penguin Solutions

In other Penguin Solutions news, SVP Joseph Clark sold 1,327 shares of the stock in a transaction on Thursday, July 23rd. The stock was 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 directly owned 63,056 shares in the company, valued at $3,623,828.32. This represents a 2.06% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Anne Kuykendall sold 4,000 shares of the stock in a transaction dated Monday, August 24th. The stock was sold at an average price of $50.58, for a total transaction of $202,320.00. Following the sale, the senior vice president owned 112,994 shares of the company’s stock, valued at $5,715,236.52. This trade represents a 3.42% 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. In the last three months, insiders sold 9,327 shares of company stock worth $536,103. 2.90% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

PENG has been the topic of a number of research reports. Zacks Research upgraded shares of Penguin Solutions from a “hold” rating to a “strong-buy” rating in a report on Tuesday, June 30th. Wall Street Zen cut Penguin Solutions from a “strong-buy” rating to a “buy” rating in a research note on Sunday, July 26th. Needham & Company LLC upped their price target on shares of Penguin Solutions from $60.00 to $80.00 and gave the stock a “buy” rating in a research note on Wednesday, July 8th. Citizens Jmp raised their price objective on shares of Penguin Solutions from $65.00 to $85.00 and gave the company a “market outperform” rating in a research report on Wednesday, July 8th. Finally, Rosenblatt Securities boosted their price target on Penguin Solutions from $65.00 to $75.00 and gave the stock a “buy” rating in a research report on Monday, July 6th. 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 data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $63.33.

Penguin Solutions Price Performance

NASDAQ PENG opened at $51.76 on Monday. Penguin Solutions, Inc. has a twelve month low of $16.04 and a twelve month 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 has a market cap of $2.65 billion, a PE ratio of 36.71 and a beta of 2.86. The firm has a 50-day simple moving average of $58.88 and a 200 day simple moving average of $44.18.

Penguin Solutions (NASDAQ:PENG) last announced its quarterly earnings data on Tuesday, July 7th. The company reported $0.84 EPS for the quarter, topping analysts’ consensus estimates of $0.63 by $0.21. The company had revenue of $478.71 million during the quarter, compared to the consensus estimate 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, research analysts forecast that Penguin Solutions, Inc. will post 2.08 EPS for the current 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.