Alliancebernstein L.P. Makes New $28.92 Million Investment in Penguin Solutions, Inc. $PENG

Key Points

• Alliancebernstein L.P. invested approximately $28.9 million in Penguin Solutions by purchasing 1,664,870 shares, which represents about 3.15% ownership of the company.
• Penguin Solutions reported an earnings per share (EPS) of $0.47 for the last quarter, surpassing the consensus estimate of $0.30 by $0.17.
• Equities analysts have mixed ratings on Penguin Solutions, with one analyst assigning a Strong Buy and the majority rating it as Buy, leading to a consensus target price of $27.13.

Alliancebernstein L.P. purchased a new position in shares of Penguin Solutions, Inc. (NASDAQ:PENG - Free Report) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 1,664,870 shares of the company's stock, valued at approximately $28,919,000. Alliancebernstein L.P. owned 3.15% of Penguin Solutions as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Banque Transatlantique SA acquired a new position in Penguin Solutions during the first quarter worth about $243,000. AQR Capital Management LLC acquired a new stake in shares of Penguin Solutions in the 1st quarter worth approximately $1,076,000. Amundi acquired a new position in Penguin Solutions during the first quarter worth $373,000. Cubist Systematic Strategies LLC purchased a new stake in Penguin Solutions during the first quarter worth $803,000. Finally, Royal Bank of Canada acquired a new stake in Penguin Solutions in the first quarter valued at $7,250,000.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the stock. JMP Securities reiterated a "market outperform" rating and issued a $26.00 price objective on shares of Penguin Solutions in a research report on Wednesday, July 9th. The Goldman Sachs Group increased their price target on shares of Penguin Solutions from $22.50 to $25.00 and gave the company a "buy" rating in a research report on Wednesday, July 9th. Zacks Research cut shares of Penguin Solutions from a "strong-buy" rating to a "hold" rating in a research note on Monday, September 8th. JPMorgan Chase & Co. upped 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. Finally, Loop Capital increased their target price on 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 Strong Buy rating, seven have assigned a Buy rating and two have given a Hold rating to the company's stock. According to MarketBeat, Penguin Solutions currently has a consensus rating of "Moderate Buy" and a consensus price target of $27.13.

Penguin Solutions Trading Down 0.4%

Shares of Penguin Solutions stock traded down $0.11 during trading hours on Friday, reaching $26.04. 625,290 shares of the company's stock were exchanged, compared to its average volume of 767,971. Penguin Solutions, Inc. has a 52-week low of $14.20 and a 52-week high of $26.53. The company has a fifty day moving average of $24.14 and a 200-day moving average of $20.28. The company has a current ratio of 2.62, a quick ratio of 2.24 and a debt-to-equity ratio of 1.08. The firm has a market capitalization of $1.36 billion, a price-to-earnings ratio of -93.00 and a beta of 2.13.

Penguin Solutions (NASDAQ:PENG - Get Free Report) last announced its quarterly earnings data on Tuesday, July 8th. The company reported $0.47 EPS for the quarter, beating analysts' consensus estimates 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 $324.25 million during 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. Sell-side 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 stock in a transaction that occurred on 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 owned 18,222 shares of the company's stock, valued at $463,203.24. This trade represents a 10.09% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Jack A. Pacheco sold 63,447 shares of the stock in a transaction on Monday, July 21st. The stock was sold at an average price of $24.83, for a total value of $1,575,389.01. Following the completion of the transaction, the executive vice president directly owned 227,231 shares in the company, valued at $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 quarter, insiders have sold 66,175 shares of company stock worth $1,644,448. Insiders own 2.60% of the company's stock.

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.