Pacific Ridge Capital Partners LLC Boosts Holdings in Penguin Solutions, Inc. $PENG

Pacific Ridge Capital Partners LLC lifted its position in shares of Penguin Solutions, Inc. (NASDAQ:PENG) by 27.8% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 60,830 shares of the company’s stock after buying an additional 13,241 shares during the period. Pacific Ridge Capital Partners LLC’s holdings in Penguin Solutions were worth $1,190,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently added to or reduced their stakes in the company. New York State Teachers Retirement System increased its stake in Penguin Solutions by 37.4% during the fourth quarter. New York State Teachers Retirement System now owns 16,850 shares of the company’s stock worth $330,000 after acquiring an additional 4,588 shares during the last quarter. Torren Management LLC purchased a new position in shares of Penguin Solutions during the 4th quarter worth $48,000. M&T Bank Corp increased its position in shares of 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 purchasing an additional 706 shares during the last quarter. Farther Finance Advisors LLC raised its holdings in Penguin Solutions by 187.0% in the 4th quarter. Farther Finance Advisors LLC now owns 1,452 shares of the company’s stock valued at $28,000 after buying an additional 946 shares during the period. Finally, State of Alaska Department of Revenue boosted its stake in Penguin Solutions by 98.3% during the fourth quarter. State of Alaska Department of Revenue now owns 47,576 shares of the company’s stock worth $930,000 after buying an additional 23,582 shares during the period.

Penguin Solutions Trading Down 1.6%

NASDAQ PENG opened at $43.54 on Tuesday. The firm has a 50 day simple moving average of $23.52 and a 200-day simple moving average of $21.33. 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 one year low of $16.04 and a one year high of $46.75. The firm has a market cap of $2.21 billion, a price-to-earnings ratio of 60.47 and a beta of 2.66.

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

Insider Buying and Selling at Penguin Solutions

In related news, SVP Joseph Gates Clark sold 12,546 shares of the business’s stock in a transaction on Thursday, April 9th. The stock was sold at an average price of $22.55, for a total transaction of $282,912.30. Following the completion of the transaction, the senior vice president directly owned 99,726 shares of the company’s stock, valued at $2,248,821.30. The trade was a 11.17% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Anne Kuykendall sold 4,000 shares of the company’s stock in a transaction dated Monday, March 16th. The stock was sold at an average price of $17.75, for a total value of $71,000.00. Following the sale, the senior vice president owned 131,352 shares in the company, valued at approximately $2,331,498. This trade represents a 2.96% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 28,769 shares of company stock valued at $698,383. Insiders own 2.90% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. Needham & Company LLC boosted their price target 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. Barclays downgraded shares of Penguin Solutions from an “overweight” rating to an “equal weight” rating and lifted their target price for the company from $23.00 to $27.00 in a report on Wednesday, April 22nd. Zacks Research upgraded Penguin Solutions from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, April 7th. Stifel Nicolaus lowered their price target on Penguin Solutions from $27.00 to $24.00 and set a “buy” rating for the company in a research report on Thursday, April 2nd. Finally, Wall Street Zen cut Penguin Solutions from a “buy” rating to a “hold” rating in a research note on Saturday. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $27.25.

Penguin Solutions Company 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.