Penguin Solutions (NASDAQ:PENG) Director Maximiliane Straub Sells 8,000 Shares

Penguin Solutions, Inc. (NASDAQ:PENG) Director Maximiliane Straub sold 8,000 shares of the stock in a transaction on Monday, May 11th. The stock was sold at an average price of $45.00, for a total value of $360,000.00. Following the transaction, the director owned 58,975 shares of the company’s stock, valued at $2,653,875. This represents a 11.94% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Penguin Solutions Stock Up 9.4%

Shares of NASDAQ:PENG opened at $48.27 on Thursday. The company’s fifty day moving average is $24.55 and its 200-day moving average is $21.68. 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 52 week low of $16.04 and a 52 week high of $53.27. The company has a market capitalization of $2.45 billion, a PE ratio of 67.04 and a beta of 2.66.

Penguin Solutions (NASDAQ:PENG) last announced its quarterly earnings results on Wednesday, April 1st. The company reported $0.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.43 by $0.09. The firm had revenue of $343.00 million during 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 predict that Penguin Solutions, Inc. will post 1.66 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on PENG. Weiss Ratings raised Penguin Solutions from a “sell (d+)” rating to a “hold (c-)” rating in a report on Monday, April 6th. Wall Street Zen downgraded Penguin Solutions from a “buy” rating to a “hold” rating in a research report on Saturday, May 9th. Zacks Research raised Penguin Solutions from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, April 7th. Barclays cut Penguin Solutions from an “overweight” rating to an “equal weight” rating and increased their target price for the stock from $23.00 to $27.00 in a report on Wednesday, April 22nd. Finally, Stifel Nicolaus lowered their target price on Penguin Solutions from $27.00 to $24.00 and set a “buy” rating for the company in a research note on Thursday, April 2nd. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Penguin Solutions currently has a consensus rating of “Moderate Buy” and a consensus price target of $27.25.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Dimensional Fund Advisors LP bought a new stake in shares of Penguin Solutions during the third quarter worth approximately $60,264,000. Invesco Ltd. grew its holdings in Penguin Solutions by 596.8% during the 4th quarter. Invesco Ltd. now owns 1,992,415 shares of the company’s stock worth $38,972,000 after acquiring an additional 1,706,482 shares during the period. William Blair Investment Management LLC acquired a new stake in Penguin Solutions during the 4th quarter worth $18,290,000. Ophir Asset Management Pty Ltd raised its position in shares of Penguin Solutions by 234.3% during the 4th quarter. Ophir Asset Management Pty Ltd now owns 1,211,612 shares of the company’s stock valued at $23,699,000 after acquiring an additional 849,178 shares during the last quarter. Finally, ArrowMark Colorado Holdings LLC bought a new stake in shares of Penguin Solutions during the 3rd quarter valued at $15,789,000.

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.