Legato Capital Management LLC Takes Position in Penguin Solutions, Inc. (NASDAQ:PENG)

Legato Capital Management LLC purchased 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 filing with the SEC. The firm purchased 48,667 shares of the company's stock, valued at approximately $845,000. Legato Capital Management LLC owned about 0.09% of Penguin Solutions at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the business. Crews Bank & Trust bought a new stake in shares of Penguin Solutions during the 1st quarter valued at about $28,000. IFP Advisors Inc bought a new stake in shares of Penguin Solutions during the 1st quarter valued at about $39,000. CWM LLC bought a new stake in shares of Penguin Solutions during the 1st quarter valued at about $39,000. KLP Kapitalforvaltning AS bought a new stake in shares of Penguin Solutions during the 1st quarter valued at about $167,000. Finally, Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in shares of Penguin Solutions during the 1st quarter valued at about $174,000.

Penguin Solutions Trading Up 1.5%

Penguin Solutions stock traded up $0.38 during trading hours on Monday, reaching $25.54. The company had a trading volume of 408,372 shares, compared to its average volume of 871,636. The company has a debt-to-equity ratio of 1.08, a current ratio of 2.62 and a quick ratio of 2.24. The company has a 50-day moving average price of $20.77 and a 200 day moving average price of $19.40. The firm has a market cap of $1.34 billion, a price-to-earnings ratio of -91.20 and a beta of 1.98. Penguin Solutions, Inc. has a 12-month low of $14.20 and a 12-month high of $25.94.

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

Insider Activity at Penguin Solutions

In other news, 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 transaction, the executive vice president directly 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, 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 transaction, the director directly owned 18,222 shares in the company, valued at $463,203.24. This trade represents a 10.09% 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 three months. Insiders own 2.60% of the company's stock.

Analysts Set New Price Targets

PENG has been the topic of a number of research reports. JPMorgan Chase & Co. raised their price objective on 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 cut Penguin Solutions from a "strong-buy" rating to a "buy" rating in a report on Saturday, July 12th. The Goldman Sachs Group raised their price objective on Penguin Solutions from $22.50 to $25.00 and gave the company a "buy" rating in a report on Wednesday, July 9th. Rosenblatt Securities reissued a "buy" rating and set a $27.00 price objective on shares of Penguin Solutions in a report on Thursday, July 3rd. Finally, Loop Capital raised their price objective on Penguin Solutions from $30.00 to $35.00 and gave the company a "buy" rating in a report on Monday, July 14th. One research 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. According to data from MarketBeat.com, Penguin Solutions currently has a consensus rating of "Buy" and a consensus price target of $27.13.

About Penguin Solutions

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.