The Manufacturers Life Insurance Company Invests $1.20 Million in Penguin Solutions, Inc. $PENG

The Manufacturers Life Insurance Company acquired a new stake in Penguin Solutions, Inc. (NASDAQ:PENG) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 15,784 shares of the company’s stock, valued at approximately $1,200,000.

A number of other hedge funds have also made changes to their positions in the stock. BlackRock Inc. bought a new stake in Penguin Solutions during the second quarter worth approximately $581,658,000. State Street Corp boosted its stake in Penguin Solutions by 3.2% during the 4th quarter. State Street Corp now owns 2,957,938 shares of the company’s stock valued at $57,857,000 after purchasing an additional 91,805 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of Penguin Solutions by 4.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,388,748 shares of the company’s stock valued at $46,726,000 after purchasing an additional 95,585 shares during the period. Invesco Ltd. increased its position in shares of Penguin Solutions by 596.8% during the 4th quarter. Invesco Ltd. now owns 1,992,415 shares of the company’s stock valued at $38,972,000 after purchasing an additional 1,706,482 shares during the period. Finally, Barrow Hanley Mewhinney & Strauss LLC bought a new stake in shares of Penguin Solutions in the 2nd quarter worth $150,192,000.

Insider Transactions at Penguin Solutions

In other Penguin Solutions news, SVP Joseph Clark sold 1,327 shares of the company’s stock in a transaction dated Thursday, July 23rd. The shares were sold at an average price of $57.47, for a total transaction of $76,262.69. Following the completion of the sale, the senior vice president directly owned 63,056 shares of the company’s stock, valued at approximately $3,623,828.32. This represents a 2.06% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available 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 firm’s stock in a transaction dated Monday, August 24th. The stock was sold at an average price of $50.58, for a total transaction of $202,320.00. Following the completion of the transaction, the senior vice president owned 112,994 shares of the company’s stock, valued at approximately $5,715,236.52. The trade was a 3.42% 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. Insiders have sold 9,327 shares of company stock valued at $536,103 over the last ninety days. Insiders own 2.90% of the company’s stock.

Penguin Solutions Stock Performance

PENG opened at $51.76 on Friday. The company has a quick ratio of 1.10, a current ratio of 1.54 and a debt-to-equity ratio of 0.65. The firm has a market cap of $2.65 billion, a PE ratio of 36.71 and a beta of 2.86. The business has a fifty day simple moving average of $58.88 and a 200-day simple moving average of $44.00. Penguin Solutions, Inc. has a fifty-two week low of $16.04 and a fifty-two week high of $89.86.

Penguin Solutions (NASDAQ:PENG) last announced its earnings results on Tuesday, July 7th. The company reported $0.84 EPS 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 during the quarter, compared to the consensus estimate of $407.47 million. During the same period in the prior year, the business posted $0.52 earnings per share. As a group, equities analysts predict that Penguin Solutions, Inc. will post 2.08 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

PENG has been the subject of several research analyst reports. Zacks Research upgraded Penguin Solutions from a “hold” rating to a “strong-buy” rating in a report on Tuesday, June 30th. Weiss Ratings upgraded shares of Penguin Solutions from a “hold (c-)” rating to a “hold (c)” rating in a research report on Wednesday, July 8th. Needham & Company LLC upped their price target on shares of Penguin Solutions from $60.00 to $80.00 and gave the company a “buy” rating in a 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. Finally, Rosenblatt Securities raised their price objective on shares of Penguin Solutions from $65.00 to $75.00 and gave the company a “buy” rating in a research report on Monday, July 6th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $63.33.

Penguin Solutions 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.