The Manufacturers Life Insurance Company Sells 8,167 Shares of Penguin Solutions, Inc. $PENG

The Manufacturers Life Insurance Company decreased its position in shares of Penguin Solutions, Inc. (NASDAQ:PENG) by 37.0% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 13,930 shares of the company’s stock after selling 8,167 shares during the period. The Manufacturers Life Insurance Company’s holdings in Penguin Solutions were worth $245,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in PENG. State Street Corp boosted its stake in shares of Penguin Solutions by 3.2% during the 4th quarter. State Street Corp now owns 2,957,938 shares of the company’s stock worth $57,857,000 after purchasing an additional 91,805 shares during the period. Dimensional Fund Advisors LP raised its position in Penguin Solutions by 4.2% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,388,748 shares of the company’s stock worth $46,726,000 after purchasing an additional 95,585 shares during the period. Invesco Ltd. raised its position in Penguin Solutions by 596.8% in the 4th quarter. Invesco Ltd. now owns 1,992,415 shares of the company’s stock worth $38,972,000 after purchasing an additional 1,706,482 shares during the period. Paradigm Capital Management Inc. NY lifted its stake in Penguin Solutions by 73.8% in the first quarter. Paradigm Capital Management Inc. NY now owns 1,605,100 shares of the company’s stock worth $28,250,000 after purchasing an additional 681,700 shares during the last quarter. Finally, Ophir Asset Management Pty Ltd lifted its stake in Penguin Solutions by 234.3% in the fourth quarter. Ophir Asset Management Pty Ltd now owns 1,211,612 shares of the company’s stock worth $23,699,000 after purchasing an additional 849,178 shares during the last quarter.

Penguin Solutions Price Performance

Penguin Solutions stock opened at $63.08 on Tuesday. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.54 and a quick ratio of 1.10. The stock has a market cap of $3.23 billion, a price-to-earnings ratio of 44.74 and a beta of 2.87. The firm has a 50-day moving average of $62.50 and a two-hundred day moving average of $41.01. Penguin Solutions, Inc. has a 1 year low of $16.04 and a 1 year high of $89.86.

Penguin Solutions (NASDAQ:PENG) last issued its earnings results on Tuesday, July 7th. The company reported $0.84 EPS for the quarter, topping analysts’ consensus estimates of $0.63 by $0.21. Penguin Solutions had a net margin of 6.44% and a return on equity of 28.23%. The business had revenue of $478.71 million for the quarter, compared to analyst estimates of $407.47 million. During the same period last year, the company posted $0.52 earnings per share. On average, research analysts forecast that Penguin Solutions, Inc. will post 2.08 earnings per share for the current year.

Analyst Ratings Changes

PENG has been the topic of a number of analyst reports. Wall Street Zen cut Penguin Solutions from a “strong-buy” rating to a “buy” rating in a research note on Sunday, July 26th. Zacks Research raised Penguin Solutions from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, June 30th. Citizens Jmp boosted their price objective on Penguin Solutions from $65.00 to $85.00 and gave the company a “market outperform” 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, Rosenblatt Securities upped their price objective on Penguin Solutions from $65.00 to $75.00 and gave the company a “buy” rating in a research report on Monday, July 6th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $63.33.

Insider Activity at Penguin Solutions

In other Penguin Solutions news, SVP Joseph Gates Clark sold 10,351 shares of the firm’s stock in a transaction on Monday, June 1st. The stock was sold at an average price of $58.87, for a total transaction of $609,363.37. Following the transaction, the senior vice president directly owned 66,425 shares in the company, valued at $3,910,439.75. This trade represents a 13.48% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 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 Tuesday, May 26th. The shares were sold at an average price of $54.45, for a total value of $217,800.00. Following the sale, 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 disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 19,678 shares of company stock worth $1,160,946. 2.90% of the stock is owned by insiders.

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.