Timothy G. Youngquist 2020 Irrevocable Trust Makes New $1.36 Million Investment in Penguin Solutions, Inc. $PENG

Timothy G. Youngquist 2020 Irrevocable Trust bought a new stake in shares of Penguin Solutions, Inc. (NASDAQ:PENG) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 17,950 shares of the company’s stock, valued at approximately $1,364,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of PENG. William Blair Investment Management LLC bought a new stake in shares of Penguin Solutions in the fourth quarter worth $18,290,000. Maverick Capital Ltd. bought a new position in Penguin Solutions in the first quarter valued at about $771,000. Fisher Asset Management LLC purchased a new position in Penguin Solutions in the fourth quarter worth about $716,000. California State Teachers Retirement System boosted its position in Penguin Solutions by 52.8% in the first quarter. California State Teachers Retirement System now owns 74,580 shares of the company’s stock worth $1,313,000 after purchasing an additional 25,763 shares during the last quarter. Finally, Pacer Advisors Inc. grew its stake in shares of Penguin Solutions by 34.0% during the 1st quarter. Pacer Advisors Inc. now owns 261,776 shares of the company’s stock valued at $4,607,000 after purchasing an additional 66,460 shares during the period.

Penguin Solutions Stock Performance

Shares of PENG opened at $58.36 on Wednesday. The business has a 50-day simple moving average of $62.44 and a two-hundred day simple moving average of $41.28. The company has a quick ratio of 1.10, a current ratio of 1.54 and a debt-to-equity ratio of 0.65. Penguin Solutions, Inc. has a 52 week low of $16.04 and a 52 week high of $89.86. The stock has a market cap of $2.99 billion, a price-to-earnings ratio of 41.39 and a beta of 2.87.

Penguin Solutions (NASDAQ:PENG) last posted its quarterly earnings data on Tuesday, July 7th. The company reported $0.84 earnings per share for the quarter, beating analysts’ consensus estimates of $0.63 by $0.21. The firm had revenue of $478.71 million for 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 period in the previous year, the firm earned $0.52 EPS. On average, analysts expect that Penguin Solutions, Inc. will post 2.08 EPS for the current year.

Analyst Ratings Changes

Several research firms have recently commented on PENG. Stifel Nicolaus upped their price target on shares of Penguin Solutions from $66.00 to $75.00 and gave the company a “buy” rating in a research report on Wednesday, July 8th. Wall Street Zen lowered shares of Penguin Solutions from a “strong-buy” rating to a “buy” rating in a research report on Sunday, July 26th. Citizens Jmp upped their target price on shares of Penguin Solutions from $65.00 to $85.00 and gave the company a “market outperform” rating in a report on Wednesday, July 8th. Zacks Research raised shares of Penguin Solutions from a “hold” rating to a “strong-buy” rating in a report on Tuesday, June 30th. Finally, Barclays downgraded shares of Penguin Solutions from an “equal weight” rating to an “underweight” rating and set a $40.00 price target on the stock. in a research report on Monday, July 20th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Penguin Solutions presently has an average rating of “Moderate Buy” and a consensus target price of $63.33.

Insider Buying and Selling

In other Penguin Solutions news, SVP Joseph Gates Clark sold 1,327 shares of Penguin Solutions stock in a transaction that occurred on Thursday, July 23rd. The shares were sold at an average price of $57.47, for a total transaction of $76,262.69. Following the transaction, the senior vice president owned 63,056 shares of the company’s stock, valued at $3,623,828.32. The trade was a 2.06% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, 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 the company’s stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $64.38, for a total transaction of $257,520.00. Following the completion of the transaction, the senior vice president 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 90 days, insiders have sold 19,678 shares of company stock worth $1,160,946. 2.90% of the stock is owned by company 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.