Penguin Solutions (NASDAQ:PENG) Director Sells $147,000.00 in Stock

Penguin Solutions, Inc. (NASDAQ:PENG) Director Maximiliane Straub sold 3,000 shares of the business’s stock in a transaction dated Thursday, May 14th. The stock was sold at an average price of $49.00, for a total transaction of $147,000.00. Following the sale, the director directly owned 51,975 shares of the company’s stock, valued at $2,546,775. This represents a 5.46% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Penguin Solutions Price Performance

Shares of PENG stock traded down $1.11 on Monday, reaching $45.71. 3,237,312 shares of the company were exchanged, compared to its average volume of 1,760,251. The company has a market cap of $2.32 billion, a price-to-earnings ratio of 63.49 and a beta of 2.66. The business has a 50-day moving average price of $25.71 and a 200 day moving average price of $22.04. The company has a debt-to-equity ratio of 1.09, a quick ratio of 1.55 and a current ratio of 2.10. Penguin Solutions, Inc. has a 1 year low of $16.04 and a 1 year high of $53.27.

Penguin Solutions (NASDAQ:PENG) last released its earnings results on Wednesday, April 1st. The company reported $0.52 EPS for the quarter, topping analysts’ consensus estimates of $0.43 by $0.09. The business had revenue of $343.00 million during the quarter, compared to analysts’ expectations of $339.00 million. Penguin Solutions had a net margin of 4.07% and a return on equity of 19.94%. Equities research analysts forecast that Penguin Solutions, Inc. will post 1.66 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on PENG. Stifel Nicolaus dropped their price objective on shares of Penguin Solutions from $27.00 to $24.00 and set a “buy” rating for the company in a research note on Thursday, April 2nd. Weiss Ratings cut shares of Penguin Solutions from a “hold (c)” rating to a “hold (c-)” rating in a research note on Wednesday. Wall Street Zen raised shares of Penguin Solutions from a “hold” rating to a “buy” rating in a research note on Sunday. Needham & Company LLC upped their price objective on shares of Penguin Solutions from $25.00 to $27.00 and gave the company a “buy” rating in a research note on Thursday, April 2nd. Finally, Barclays cut shares of Penguin Solutions from an “overweight” rating to an “equal weight” rating and upped their price objective for the company from $23.00 to $27.00 in a research note on Wednesday, April 22nd. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, Penguin Solutions currently has a consensus rating of “Moderate Buy” and a consensus target price of $27.25.

Hedge Funds Weigh In On Penguin Solutions

Several institutional investors and hedge funds have recently bought and sold shares of the company. Allworth Financial LP boosted its holdings in Penguin Solutions by 41.4% in the 3rd quarter. Allworth Financial LP now owns 1,792 shares of the company’s stock valued at $47,000 after purchasing an additional 525 shares during the last quarter. Osaic Holdings Inc. lifted its holdings in shares of Penguin Solutions by 20.8% in the 2nd quarter. Osaic Holdings Inc. now owns 3,583 shares of the company’s stock worth $71,000 after acquiring an additional 617 shares during the last quarter. Covestor Ltd lifted its holdings in shares of Penguin Solutions by 4.7% in the 4th quarter. Covestor Ltd now owns 15,535 shares of the company’s stock worth $304,000 after acquiring an additional 695 shares during the last quarter. M&T Bank Corp lifted its holdings 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 lifted 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 buying an additional 808 shares in the last quarter.

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.