Sandeep Nayyar Sells 12,893 Shares of Penguin Solutions (NASDAQ:PENG) Stock

Penguin Solutions, Inc. (NASDAQ:PENG) Director Sandeep Nayyar sold 12,893 shares of the business’s stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $45.09, for a total transaction of $581,345.37. Following the completion of the sale, the director directly owned 32,524 shares of the company’s stock, valued at approximately $1,466,507.16. The trade was a 28.39% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link.

Sandeep Nayyar also recently made the following trade(s):

• On Tuesday, May 12th, Sandeep Nayyar sold 7,107 shares of Penguin Solutions stock. The stock was sold at an average price of $43.48, for a total transaction of $309,012.36.

Penguin Solutions Stock Up 2.4%

NASDAQ PENG opened at $49.44 on Friday. The company has a current ratio of 2.10, a quick ratio of 1.55 and a debt-to-equity ratio of 1.09. The company has a market cap of $2.51 billion, a price-to-earnings ratio of 68.67 and a beta of 2.66. The company has a 50 day moving average of $25.16 and a 200-day moving average of $21.87. Penguin Solutions, Inc. has a 1-year low of $16.04 and a 1-year high of $53.27.

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

Analyst Upgrades and Downgrades

PENG has been the subject of a number of research reports. Rosenblatt Securities reissued a “buy” rating and issued a $30.00 target price on shares of Penguin Solutions in a report on Monday, March 30th. Zacks Research upgraded shares of Penguin Solutions from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, April 7th. Needham & Company LLC boosted their target price on shares of Penguin Solutions from $25.00 to $27.00 and gave the stock a “buy” rating in a research note on Thursday, April 2nd. Stifel Nicolaus lowered their price target on shares of Penguin Solutions from $27.00 to $24.00 and set a “buy” rating for the company in a report on Thursday, April 2nd. Finally, Wall Street Zen downgraded Penguin Solutions from a “buy” rating to a “hold” rating in a research report on Saturday, May 9th. One research 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. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $27.25.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the business. Paradigm Capital Management Inc. NY increased its holdings in Penguin Solutions by 73.8% during the 1st 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 in the last quarter. Inceptionr LLC purchased a new stake in shares of Penguin Solutions during the first quarter valued at approximately $339,000. Sei Investments Co. lifted its holdings in Penguin Solutions by 21.9% during the first quarter. Sei Investments Co. now owns 173,981 shares of the company’s stock worth $3,062,000 after acquiring an additional 31,212 shares during the period. Lido Advisors LLC lifted its holdings in Penguin Solutions by 23.2% during the first quarter. Lido Advisors LLC now owns 14,943 shares of the company’s stock worth $263,000 after acquiring an additional 2,817 shares during the period. Finally, State of Wyoming purchased a new position in Penguin Solutions in the first quarter worth $81,000.

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.