Louisiana State Employees Retirement System Purchases New Stake in Penguin Solutions, Inc. (NASDAQ:PENG)

Louisiana State Employees Retirement System bought a new stake in Penguin Solutions, Inc. (NASDAQ:PENG - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 25,100 shares of the company's stock, valued at approximately $436,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Crews Bank & Trust acquired a new position in Penguin Solutions in the first quarter valued at about $28,000. Cambridge Investment Research Advisors Inc. bought a new stake in Penguin Solutions during the 1st quarter worth approximately $188,000. Oregon Public Employees Retirement Fund acquired a new stake in Penguin Solutions during the 1st quarter worth approximately $212,000. New York State Teachers Retirement System bought a new stake in shares of Penguin Solutions during the first quarter worth $248,000. Finally, Arizona State Retirement System bought a new stake in shares of Penguin Solutions during the first quarter worth $251,000.

Penguin Solutions Price Performance

Shares of NASDAQ:PENG remained flat at $24.90 during midday trading on Thursday. The company had a trading volume of 805,661 shares, compared to its average volume of 1,316,888. Penguin Solutions, Inc. has a twelve month low of $14.20 and a twelve month high of $25.94. The firm has a market capitalization of $1.30 billion, a PE ratio of -88.93 and a beta of 1.98. The company has a debt-to-equity ratio of 1.08, a quick ratio of 2.24 and a current ratio of 2.62. The company's fifty day moving average is $20.65 and its 200 day moving average is $19.36.

Penguin Solutions (NASDAQ:PENG - Get Free Report) last posted its quarterly earnings results on Tuesday, July 8th. The company reported $0.47 earnings per share for the quarter, beating analysts' consensus estimates of $0.30 by $0.17. The firm had revenue of $324,251 billion during the quarter, compared to the consensus estimate of $330.82 million. Penguin Solutions had a positive return on equity of 13.27% and a negative net margin of 0.68%. On average, research analysts expect that Penguin Solutions, Inc. will post 1.05 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on PENG shares. Needham & Company LLC boosted their price objective on shares of Penguin Solutions from $27.00 to $30.00 and gave the company a "buy" rating in a research report on Tuesday. Rosenblatt Securities restated a "buy" rating and issued a $27.00 price target on shares of Penguin Solutions in a report on Thursday, July 3rd. Loop Capital set a $35.00 price objective on Penguin Solutions and gave the stock a "buy" rating in a research report on Monday, July 14th. The Goldman Sachs Group increased their price objective on Penguin Solutions from $22.50 to $25.00 and gave the stock a "buy" rating in a report on Wednesday, July 9th. Finally, JPMorgan Chase & Co. boosted their target price on Penguin Solutions from $21.00 to $24.00 and gave the company a "neutral" rating in a research note on Thursday, July 17th. One analyst has rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Buy" and an average price target of $27.13.

Insider Buying and Selling at Penguin Solutions

In other news, Director Penny Herscher sold 2,046 shares of the business's stock in a transaction dated Tuesday, July 15th. The shares were sold at an average price of $25.42, for a total transaction of $52,009.32. Following the transaction, the director directly owned 18,222 shares in the company, valued at $463,203.24. The trade was a 10.09% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Jack A. Pacheco sold 63,447 shares of the company's stock in a transaction dated Monday, July 21st. The shares were sold at an average price of $24.83, for a total transaction of $1,575,389.01. Following the completion of the sale, the executive vice president directly owned 227,231 shares in the company, 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. Insiders have sold 66,175 shares of company stock worth $1,644,448 over the last ninety days. Insiders own 2.60% of the company's stock.

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.