State of Wyoming Takes Position in Penguin Solutions, Inc. $PENG

State of Wyoming bought a new position in shares of Penguin Solutions, Inc. (NASDAQ:PENG) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 13,193 shares of the company’s stock, valued at approximately $1,003,000.

Several other hedge funds have also recently bought and sold shares of PENG. Royal Bank of Canada acquired a new position in shares of Penguin Solutions in the first quarter valued at approximately $7,250,000. Amundi acquired a new stake in shares of Penguin Solutions during the first quarter worth $373,000. AQR Capital Management LLC acquired a new stake in shares of Penguin Solutions during the first quarter worth $1,076,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in Penguin Solutions in the 1st quarter valued at $538,000. Finally, Goldman Sachs Group Inc. bought a new stake in Penguin Solutions in the 1st quarter valued at $3,259,000.

Insider Activity at Penguin Solutions

In related news, SVP Anne Kuykendall sold 4,000 shares of the firm’s stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $54.45, for a total value of $217,800.00. Following the completion of the transaction, the senior vice president directly owned 124,794 shares of the company’s stock, valued at approximately $6,795,033.30. This trade represents a 3.11% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, 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 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 transaction of $609,363.37. Following the completion of the transaction, the senior vice president directly owned 66,425 shares of the company’s stock, valued at $3,910,439.75. This represents a 13.48% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 19,678 shares of company stock worth $1,160,946 in the last ninety days. Insiders own 2.90% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have issued reports on PENG shares. Zacks Research upgraded Penguin Solutions from a “hold” rating to a “strong-buy” rating in a report on Tuesday, June 30th. Stifel Nicolaus upped their price objective on Penguin Solutions from $66.00 to $75.00 and gave the stock a “buy” rating in a research report on Wednesday, July 8th. Needham & Company LLC increased their price objective on Penguin Solutions from $60.00 to $80.00 and gave the stock a “buy” rating in a report on Wednesday, July 8th. Weiss Ratings raised Penguin Solutions from a “hold (c-)” rating to a “hold (c)” rating in a research report on Wednesday, July 8th. Finally, Citigroup restated an “outperform” rating on shares of Penguin Solutions in a research note on Wednesday, July 8th. One 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 issued a Sell rating to the stock. According to data from MarketBeat.com, Penguin Solutions currently has an average rating of “Moderate Buy” and a consensus price target of $63.33.

Penguin Solutions Trading Up 4.8%

Shares of NASDAQ:PENG opened at $63.80 on Friday. The company’s 50-day moving average price is $62.53 and its two-hundred day moving average price is $40.56. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.54 and a quick ratio of 1.10. Penguin Solutions, Inc. has a one year low of $16.04 and a one year high of $89.86. The stock has a market capitalization of $3.27 billion, a PE ratio of 45.25 and a beta of 2.87.

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

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.