Mitsubishi UFJ Asset Management Co. Ltd. Makes New $3.34 Million Investment in Penguin Solutions, Inc. $PENG

Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in shares of Penguin Solutions, Inc. (NASDAQ:PENG) in the second quarter, according to its most recent disclosure with the SEC. The firm purchased 43,931 shares of the company’s stock, valued at approximately $3,339,000. Mitsubishi UFJ Asset Management Co. Ltd. owned approximately 0.09% of Penguin Solutions as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of the company. Global Retirement Partners LLC bought a new position in Penguin Solutions during the second quarter valued at about $26,000. Farther Finance Advisors LLC grew its position in Penguin Solutions by 187.0% in the fourth quarter. Farther Finance Advisors LLC now owns 1,452 shares of the company’s stock worth $28,000 after buying an additional 946 shares during the last quarter. Kestra Advisory Services LLC acquired a new position in Penguin Solutions in the fourth quarter worth approximately $29,000. Raymond James Financial Inc. bought a new position in shares of Penguin Solutions in the second quarter valued at $37,000. Finally, Advisory Services Network LLC bought a new position in shares of Penguin Solutions in the third quarter valued at $50,000.

Insider Buying and Selling at Penguin Solutions

In other Penguin Solutions news, SVP Joseph Gates Clark sold 1,327 shares of Penguin Solutions 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 of the company’s stock, valued at approximately $3,623,828.32. This trade represents a 2.06% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, 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 Penguin Solutions 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 transaction, the senior vice president directly owned 120,794 shares of the company’s stock, valued at approximately $7,776,717.72. The trade was a 3.21% 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. In the last ninety days, insiders sold 19,678 shares of company stock worth $1,160,946. 2.90% of the stock is owned by insiders.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on PENG shares. Stifel Nicolaus raised their price objective on Penguin Solutions from $66.00 to $75.00 and gave the stock a “buy” rating in a research note on Wednesday, July 8th. Citigroup reissued an “outperform” rating on shares of Penguin Solutions in a research note on Wednesday, July 8th. Needham & Company LLC upped their price objective on shares of Penguin Solutions from $60.00 to $80.00 and gave the company a “buy” rating in a research note on Wednesday, July 8th. Zacks Research raised shares of Penguin Solutions from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, June 30th. Finally, Weiss Ratings raised shares of Penguin Solutions from a “hold (c-)” rating to a “hold (c)” rating in a research note on Wednesday, July 8th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $63.33.

Penguin Solutions Stock Performance

PENG opened at $52.62 on Friday. The stock has a market cap of $2.70 billion, a PE ratio of 37.32 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. The stock’s 50 day simple moving average is $61.83 and its 200-day simple moving average is $41.82. Penguin Solutions, Inc. has a 1 year low of $16.04 and a 1 year high of $89.86.

Penguin Solutions (NASDAQ:PENG) last released 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 for 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 EPS. Sell-side 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.