LSV Asset Management Acquires 378,802 Shares of Penguin Solutions, Inc. $PENG

LSV Asset Management lifted its stake in Penguin Solutions, Inc. (NASDAQ:PENG) by 66.5% in the fourth quarter, Holdings Channel.com reports. The fund owned 948,170 shares of the company’s stock after purchasing an additional 378,802 shares during the period. LSV Asset Management’s holdings in Penguin Solutions were worth $18,546,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently made changes to their positions in PENG. Farther Finance Advisors LLC raised its stake in shares of Penguin Solutions by 187.0% during the 4th quarter. Farther Finance Advisors LLC now owns 1,452 shares of the company’s stock valued at $28,000 after purchasing an additional 946 shares during the period. Strs Ohio purchased a new position in Penguin Solutions during the 3rd quarter valued at about $42,000. Jones Financial Companies Lllp increased its position in shares of Penguin Solutions by 4,131.7% during the third quarter. Jones Financial Companies Lllp now owns 1,735 shares of the company’s stock valued at $45,000 after buying an additional 1,694 shares during the period. Allworth Financial LP lifted its holdings in shares of Penguin Solutions by 41.4% in the third quarter. Allworth Financial LP now owns 1,792 shares of the company’s stock worth $47,000 after buying an additional 525 shares in the last quarter. Finally, Raymond James Financial Inc. purchased a new stake in shares of Penguin Solutions in the second quarter worth about $37,000.

Penguin Solutions Stock Performance

Shares of NASDAQ PENG opened at $53.21 on Tuesday. The stock’s 50-day moving average is $29.40 and its 200 day moving average is $23.17. The stock has a market cap of $2.70 billion, a price-to-earnings ratio of 73.90 and a beta of 2.66. Penguin Solutions, Inc. has a 1-year low of $16.04 and a 1-year high of $54.28. The company has a current ratio of 2.10, a quick ratio of 1.55 and a debt-to-equity ratio of 1.09.

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

Insiders Place Their Bets

In other Penguin Solutions news, Director Sandeep Nayyar sold 7,107 shares of the business’s stock in a transaction on Tuesday, May 12th. The shares were sold at an average price of $43.48, for a total value of $309,012.36. Following the completion of the sale, the director directly owned 25,417 shares of the company’s stock, valued at $1,105,131.16. The trade was a 21.85% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Joseph Gates Clark sold 5,000 shares of Penguin Solutions stock in a transaction dated Friday, May 8th. The stock was sold at an average price of $39.99, for a total value of $199,950.00. Following the completion of the transaction, the senior vice president owned 76,776 shares in the company, valued at approximately $3,070,272.24. This represents a 6.11% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 68,769 shares of company stock valued at $2,473,051 over the last three months. Insiders own 2.90% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently commented on PENG. Wall Street Zen raised shares of Penguin Solutions from a “hold” rating to a “buy” rating in a research note on Sunday, May 17th. Zacks Research upgraded shares of Penguin Solutions from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, April 7th. Barclays cut shares of Penguin Solutions from an “overweight” rating to an “equal weight” rating and upped their price target for the stock from $23.00 to $27.00 in a report on Wednesday, April 22nd. Rosenblatt Securities reissued a “buy” rating and set a $30.00 price objective on shares of Penguin Solutions in a research note on Monday, March 30th. Finally, Stifel Nicolaus decreased their target price on Penguin Solutions from $27.00 to $24.00 and set a “buy” rating on the stock in a research note on Thursday, April 2nd. One equities research 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’s stock. Based on data from MarketBeat.com, Penguin Solutions presently has an average rating of “Moderate Buy” and an average price target of $27.25.

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.