685,900 Shares in Penguin Solutions, Inc. $PENG Purchased by Paradigm Capital Management Inc. NY

Paradigm Capital Management Inc. NY bought a new stake in Penguin Solutions, Inc. (NASDAQ:PENG) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 685,900 shares of the company’s stock, valued at approximately $52,135,000. Penguin Solutions makes up about 1.4% of Paradigm Capital Management Inc. NY’s investment portfolio, making the stock its 16th largest position. Paradigm Capital Management Inc. NY owned about 1.34% of Penguin Solutions at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Global Retirement Partners LLC acquired a new position in shares of Penguin Solutions in the second quarter valued at approximately $26,000. Allworth Financial LP acquired a new stake in Penguin Solutions during the second quarter worth approximately $37,000. Meeder Asset Management Inc. acquired a new stake in Penguin Solutions during the second quarter worth approximately $92,000. Farther Finance Advisors LLC grew its stake in Penguin Solutions by 187.0% in the 4th quarter. Farther Finance Advisors LLC now owns 1,452 shares of the company’s stock worth $28,000 after acquiring an additional 946 shares during the period. Finally, Kestra Advisory Services LLC purchased a new stake in Penguin Solutions in the 4th quarter worth approximately $29,000.

Insider Activity at Penguin Solutions

In other Penguin Solutions news, SVP Joseph Gates Clark sold 10,351 shares of Penguin Solutions stock in a transaction that occurred on Monday, June 1st. The shares were 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 of the company’s stock, valued at $3,910,439.75. The trade was a 13.48% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible 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 business’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 sale, the senior vice president owned 120,794 shares of the company’s stock, valued at approximately $7,776,717.72. This represents a 3.21% decrease in their ownership of the stock. 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 15,678 shares of company stock worth $943,146 in the last 90 days. 2.90% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

PENG has been the topic of a number of recent analyst reports. Stifel Nicolaus increased their price target on Penguin Solutions from $66.00 to $75.00 and gave the stock a “buy” rating in a research note on Wednesday, July 8th. Needham & Company LLC lifted their price objective on Penguin Solutions from $60.00 to $80.00 and gave the company a “buy” rating in a research report on Wednesday, July 8th. Zacks Research upgraded Penguin Solutions from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, June 30th. Rosenblatt Securities increased their target price on Penguin Solutions from $65.00 to $75.00 and gave the stock a “buy” rating in a research report on Monday, July 6th. Finally, Citizens Jmp raised their price target on Penguin Solutions from $65.00 to $85.00 and gave the stock a “market outperform” rating in a research note on Wednesday, July 8th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $63.33.

Penguin Solutions Stock Performance

Shares of NASDAQ:PENG opened at $50.68 on Tuesday. The business has a 50-day moving average of $61.57 and a two-hundred day moving average of $42.20. The firm has a market capitalization of $2.60 billion, a PE ratio of 35.94 and a beta of 2.87. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.54 and a quick ratio of 1.10. Penguin Solutions, Inc. has a 12 month low of $16.04 and a 12 month 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. Penguin Solutions had a return on equity of 28.23% and a net margin of 6.44%.The business had revenue of $478.71 million for the quarter, compared to analyst estimates of $407.47 million. During the same period in the previous year, the company posted $0.52 EPS. As a group, research analysts forecast that Penguin Solutions, Inc. will post 2.08 earnings per share for the current year.

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.