Connor Clark & Lunn Investment Management Ltd. Buys Shares of 31,653 Penguin Solutions, Inc. $PENG

Key Points

• Connor Clark & Lunn Investment Management Ltd. acquired 31,653 shares of Penguin Solutions, Inc. for approximately $550,000, representing about 0.06% of the company at the end of the reporting period.
• Insider transactions included EVP Jack A. Pacheco selling 63,447 shares for about $1.58 million, resulting in a 21.83% decrease in his position.
• Penguin Solutions reported earnings per share of $0.47, exceeding estimates, while analysts have varying price targets, with some anticipating significant growth for the stock.

Connor Clark & Lunn Investment Management Ltd. purchased a new stake in Penguin Solutions, Inc. (NASDAQ:PENG - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 31,653 shares of the company's stock, valued at approximately $550,000. Connor Clark & Lunn Investment Management Ltd. owned about 0.06% of Penguin Solutions as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Swiss National Bank acquired a new stake in shares of Penguin Solutions in the first quarter valued at about $1,704,000. Deutsche Bank AG acquired a new stake in Penguin Solutions during the first quarter worth about $13,231,000. Charles Schwab Investment Management Inc. acquired a new stake in Penguin Solutions during the first quarter worth about $14,786,000. Vanguard Group Inc. acquired a new stake in Penguin Solutions during the first quarter worth about $111,458,000. Finally, Pacific Ridge Capital Partners LLC acquired a new stake in Penguin Solutions during the first quarter worth about $746,000.

Penguin Solutions Price Performance

Shares of PENG traded up $0.6950 on Friday, hitting $24.3450. The company's stock had a trading volume of 357,866 shares, compared to its average volume of 872,214. The company has a market capitalization of $1.28 billion, a PE ratio of -86.94 and a beta of 2.02. 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 fifty-two week low of $14.20 and a fifty-two week high of $25.94. The company has a 50 day moving average price of $22.67 and a 200 day moving average price of $19.89.

Penguin Solutions (NASDAQ:PENG - Get Free Report) last announced its earnings results on Tuesday, July 8th. The company reported $0.47 EPS for the quarter, topping the consensus estimate 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 business had revenue of $324,251 billion for the quarter, compared to the consensus estimate of $330.82 million. Penguin Solutions has set its FY 2025 guidance at 1.750-1.850 EPS. On average, research analysts anticipate that Penguin Solutions, Inc. will post 1.05 earnings per share for the current fiscal year.

Insider Activity at Penguin Solutions

In related news, Director Penny Herscher sold 2,046 shares of the business's stock in a transaction that occurred on Tuesday, July 15th. The shares were sold at an average price of $25.42, for a total value of $52,009.32. Following the completion of the transaction, the director 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 SEC, which is available at the SEC website. Also, EVP Jack A. Pacheco sold 63,447 shares of the business's stock in a transaction that occurred on Monday, July 21st. The stock was sold at an average price of $24.83, for a total transaction 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 $5,642,145.73. This trade represents a 21.83% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 66,175 shares of company stock valued at $1,644,448 in the last 90 days. 2.60% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on PENG shares. Wall Street Zen downgraded Penguin Solutions from a "strong-buy" rating to a "buy" rating in a research report on Saturday, July 12th. Rosenblatt Securities reissued a "buy" rating and set a $27.00 target price on shares of Penguin Solutions in a research report on Monday, August 11th. Loop Capital lifted their target price on Penguin Solutions from $30.00 to $35.00 and gave the stock a "buy" rating in a research report on Monday, July 14th. Needham & Company LLC lifted their target price on Penguin Solutions from $27.00 to $30.00 and gave the stock a "buy" rating in a research report on Tuesday, July 22nd. Finally, JPMorgan Chase & Co. lifted their target price on Penguin Solutions from $21.00 to $24.00 and gave the stock a "neutral" rating in a research report on Thursday, July 17th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average price target of $27.13.

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.