Nomura Holdings Inc. Takes Position in Penguin Solutions, Inc. $PENG

Key Points

• Nomura Holdings Inc. acquired 242,253 shares of Penguin Solutions, valued at approximately $4.2 million, representing 0.46% ownership.
• Notable institutional investors like Vanguard Group and Charles Schwab also added significant positions in Penguin Solutions during the same quarter.
• Brokerages have generally given Penguin Solutions a buy rating, with price targets ranging from $26.00 to $35.00, reflecting optimism about its future performance.

Nomura Holdings Inc. acquired a new stake in shares of Penguin Solutions, Inc. (NASDAQ:PENG - Free Report) in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 242,253 shares of the company's stock, valued at approximately $4,208,000. Nomura Holdings Inc. owned 0.46% of Penguin Solutions as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Crews Bank & Trust bought a new stake in shares of Penguin Solutions during the first quarter worth $28,000. IFP Advisors Inc bought a new stake in Penguin Solutions during the 1st quarter valued at about $39,000. CWM LLC purchased a new stake in Penguin Solutions in the 1st quarter valued at about $39,000. Virtus Advisers LLC bought a new position in Penguin Solutions in the 1st quarter worth about $43,000. Finally, PNC Financial Services Group Inc. purchased a new position in shares of Penguin Solutions during the first quarter worth approximately $62,000.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on PENG. Wall Street Zen lowered Penguin Solutions from a "strong-buy" rating to a "buy" rating in a report on Saturday, July 12th. Rosenblatt Securities reiterated a "buy" rating and issued a $27.00 target price on shares of Penguin Solutions in a report on Monday, August 11th. Loop Capital raised their price target on Penguin Solutions from $30.00 to $35.00 and gave the company a "buy" rating in a research note on Monday, July 14th. JPMorgan Chase & Co. increased their target price on shares of Penguin Solutions from $21.00 to $24.00 and gave the stock a "neutral" rating in a report on Thursday, July 17th. Finally, JMP Securities reissued a "market outperform" rating and set a $26.00 target price on shares of Penguin Solutions in a research report on Wednesday, July 9th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of "Buy" and a consensus target price of $27.13.

Insider Activity

In other news, Director Penny Herscher sold 2,046 shares of the stock in a transaction dated Tuesday, July 15th. The stock was sold at an average price of $25.42, for a total value of $52,009.32. Following the transaction, the director directly owned 18,222 shares of the company's stock, valued at approximately $463,203.24. This represents a 10.09% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Jack A. Pacheco sold 63,447 shares of the firm's stock in a transaction dated Monday, July 21st. The stock was sold at an average price of $24.83, for a total value of $1,575,389.01. Following the completion of the transaction, the executive vice president owned 227,231 shares of the company's stock, valued at approximately $5,642,145.73. The trade was a 21.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 66,175 shares of company stock worth $1,644,448. Company insiders own 2.60% of the company's stock.

Penguin Solutions Stock Up 3.7%

NASDAQ PENG traded up $0.89 on Thursday, hitting $24.71. The stock had a trading volume of 598,964 shares, compared to its average volume of 623,632. The business's fifty day moving average price is $23.56 and its 200 day moving average price is $20.13. The stock has a market cap of $1.29 billion, a price-to-earnings ratio of 20.36 and a beta of 2.13. The company has a debt-to-equity ratio of 1.08, a current ratio of 2.62 and a quick ratio of 2.24. Penguin Solutions, Inc. has a 52-week low of $14.20 and a 52-week high of $25.94.

Penguin Solutions (NASDAQ:PENG - Get Free Report) last posted its quarterly earnings data on Tuesday, July 8th. The company reported $0.47 earnings per share for the quarter, topping analysts' consensus estimates of $0.30 by $0.17. Penguin Solutions had a positive return on equity of 13.27% and a negative net margin of 0.68%.The firm had revenue of $324.25 million during the quarter, compared to analysts' expectations of $330.82 million. Penguin Solutions has set its FY 2025 guidance at 1.750-1.850 EPS. Equities research analysts anticipate that Penguin Solutions, Inc. will post 1.05 earnings per share for the current year.

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.