Legato Capital Management LLC Acquires Shares of 48,667 Penguin Solutions, Inc. (NASDAQ:PENG)

Legato Capital Management LLC bought a new position in shares of Penguin Solutions, Inc. (NASDAQ:PENG - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 48,667 shares of the company's stock, valued at approximately $845,000. Legato Capital Management LLC owned 0.09% of Penguin Solutions at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. KLP Kapitalforvaltning AS purchased a new position in Penguin Solutions in the 1st quarter worth approximately $167,000. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in Penguin Solutions in the 1st quarter worth approximately $174,000. IFP Advisors Inc purchased a new position in Penguin Solutions in the 1st quarter worth approximately $39,000. South Dakota Investment Council purchased a new position in Penguin Solutions in the 1st quarter worth approximately $1,143,000. Finally, Foundry Partners LLC purchased a new stake in shares of Penguin Solutions in the 1st quarter valued at $11,989,000.

Insider Activity

In related news, Director Penny Herscher sold 2,046 shares of Penguin Solutions 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 completion of the transaction, the director directly owned 18,222 shares of the company's stock, valued at $463,203.24. This trade represents a 10.09% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Jack A. Pacheco sold 63,447 shares of Penguin Solutions 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 transaction, the executive vice president directly owned 227,231 shares of the company's stock, valued at approximately $5,642,145.73. This trade represents a 21.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 66,175 shares of company stock valued at $1,644,448. Corporate insiders own 2.60% of the company's stock.

Wall Street Analyst Weigh In

PENG has been the topic of several recent research reports. Needham & Company LLC increased their target price on shares of Penguin Solutions from $27.00 to $30.00 and gave the company a "buy" rating in a report on Tuesday. Rosenblatt Securities reaffirmed a "buy" rating and set a $27.00 target price on shares of Penguin Solutions in a report on Thursday, July 3rd. JPMorgan Chase & Co. increased their target price on shares of Penguin Solutions from $21.00 to $24.00 and gave the company a "neutral" rating in a report on Thursday, July 17th. Wall Street Zen lowered shares of Penguin Solutions from a "strong-buy" rating to a "buy" rating in a report on Saturday, July 12th. Finally, Loop Capital increased their target price on shares of Penguin Solutions from $30.00 to $35.00 and gave the company a "buy" rating in a report on Monday, July 14th. One equities research analyst has rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, Penguin Solutions presently has an average rating of "Buy" and an average price target of $27.13.

Penguin Solutions Trading Up 1.0%

Shares of NASDAQ:PENG traded up $0.26 on Friday, hitting $25.16. The company had a trading volume of 690,808 shares, compared to its average volume of 1,321,259. The firm's 50-day simple moving average is $20.65 and its two-hundred day simple moving average is $19.36. Penguin Solutions, Inc. has a 1 year low of $14.20 and a 1 year high of $25.94. The company has a quick ratio of 2.24, a current ratio of 2.62 and a debt-to-equity ratio of 1.08. The firm has a market capitalization of $1.32 billion, a price-to-earnings ratio of -89.85 and a beta of 1.98.

Penguin Solutions (NASDAQ:PENG - Get Free Report) last posted 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 negative net margin of 0.68% and a positive return on equity of 13.27%. The firm had revenue of $324,251 billion during the quarter, compared to analysts' expectations of $330.82 million. Equities analysts anticipate that Penguin Solutions, Inc. will post 1.05 earnings per share for the current fiscal year.

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.