Northern Trust Corp Invests $10.84 Million in Penguin Solutions, Inc. $PENG

Key Points

• Northern Trust Corp acquired 623,864 shares of Penguin Solutions, valued at approximately $10.8 million, representing about 1.18% of the company.
• Other institutional investors, including Vanguard Group and Charles Schwab, also purchased significant stakes in Penguin Solutions during the 1st quarter.
• Analysts are optimistic about Penguin Solutions, with several firms issuing a "buy" rating and raising their price targets, the average being $27.13.

Northern Trust Corp acquired a new position in Penguin Solutions, Inc. (NASDAQ:PENG - Free Report) in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 623,864 shares of the company's stock, valued at approximately $10,837,000. Northern Trust Corp owned 1.18% of Penguin Solutions as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of the stock. American Century Companies Inc. purchased a new stake in shares of Penguin Solutions during the first quarter worth about $13,902,000. Fox Run Management L.L.C. purchased a new stake in shares of Penguin Solutions during the first quarter worth about $877,000. Public Sector Pension Investment Board purchased a new stake in shares of Penguin Solutions during the first quarter worth about $2,935,000. Nuveen LLC purchased a new stake in shares of Penguin Solutions during the first quarter worth about $2,883,000. Finally, Invesco Ltd. purchased a new stake in shares of Penguin Solutions during the first quarter worth about $5,740,000.

Penguin Solutions Price Performance

NASDAQ PENG traded up $1.19 during trading hours on Wednesday, hitting $25.64. 2,247,397 shares of the company's stock traded hands, compared to its average volume of 632,720. Penguin Solutions, Inc. has a 52-week low of $14.20 and a 52-week high of $26.16. The company has a market capitalization of $1.34 billion, a PE ratio of -91.57 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. The firm's 50-day moving average is $23.94 and its 200-day moving average is $20.21.

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

Insider Activity

In other Penguin Solutions 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 value 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 SEC, which is available through the SEC website. Also, EVP Jack A. Pacheco sold 63,447 shares of the business'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 transaction, the executive vice president owned 227,231 shares in the company, valued at $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 sold a total of 66,175 shares of company stock worth $1,644,448 over the last quarter. 2.60% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of research firms have recently commented on PENG. JMP Securities reissued a "market outperform" rating and set a $26.00 target price on shares of Penguin Solutions in a research note on Wednesday, July 9th. Wall Street Zen cut shares of Penguin Solutions from a "strong-buy" rating to a "buy" rating in a research note on Saturday, July 12th. Loop Capital upped their price objective on shares of Penguin Solutions from $30.00 to $35.00 and gave the company a "buy" rating in a research note on Monday, July 14th. Rosenblatt Securities reaffirmed a "buy" rating and set a $27.00 price objective on shares of Penguin Solutions in a research note on Monday, August 11th. Finally, Needham & Company LLC upped their price objective on shares of Penguin Solutions from $27.00 to $30.00 and gave the company a "buy" rating in a research note on Tuesday, July 22nd. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, Penguin Solutions presently has a consensus rating of "Moderate Buy" and a consensus 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.