13,988 Shares in Penguin Solutions, Inc. $PENG Acquired by Banque Transatlantique SA

Key Points

• Banque Transatlantique SA has acquired a new stake in Penguin Solutions, purchasing 13,988 shares valued at approximately $243,000 in the first quarter of 2023.
• Penguin Solutions reported a quarterly EPS of $0.47, exceeding analysts' expectations of $0.30, despite a negative net margin of 0.68% and a revenue of $324.25 million.
• Analysts have mostly rated Penguin Solutions as a Buy, with a consensus price target of $27.13, reflecting positive market sentiment towards the stock.

Banque Transatlantique SA acquired a new stake in Penguin Solutions, Inc. (NASDAQ:PENG - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 13,988 shares of the company's stock, valued at approximately $243,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the stock. Vanguard Group Inc. acquired a new position in Penguin Solutions in the first quarter valued at approximately $111,458,000. Paradigm Capital Management Inc. NY acquired a new position in Penguin Solutions in the first quarter valued at approximately $19,545,000. Charles Schwab Investment Management Inc. acquired a new position in Penguin Solutions in the first quarter valued at approximately $14,786,000. Royce & Associates LP acquired a new position in Penguin Solutions in the first quarter valued at approximately $14,020,000. Finally, American Century Companies Inc. acquired a new position in Penguin Solutions in the first quarter valued at approximately $13,902,000.

Insider Activity at Penguin Solutions

In related 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 sale, the executive vice president owned 227,231 shares of the company's stock, valued at $5,642,145.73. The trade was a 21.83% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Penny Herscher sold 2,046 shares of the business's stock in a transaction that occurred on Tuesday, July 15th. The stock was sold at an average price of $25.42, for a total value of $52,009.32. Following the sale, the director directly owned 18,222 shares in the company, valued at approximately $463,203.24. The trade was a 10.09% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 66,175 shares of company stock worth $1,644,448. 2.60% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on PENG shares. Loop Capital lifted their target price on Penguin Solutions from $30.00 to $35.00 and gave the company a "buy" rating in a research note on Monday, July 14th. JMP Securities restated a "market outperform" rating and issued a $26.00 target price on shares of Penguin Solutions in a research note on Wednesday, July 9th. Wall Street Zen downgraded Penguin Solutions from a "strong-buy" rating to a "buy" rating in a research note on Saturday, July 12th. Rosenblatt Securities restated a "buy" rating and issued a $27.00 target price on shares of Penguin Solutions in a research note on Monday, August 11th. Finally, The Goldman Sachs Group boosted their price objective on Penguin Solutions from $22.50 to $25.00 and gave the stock a "buy" rating in a research report on Wednesday, July 9th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has assigned a Hold rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Buy" and a consensus target price of $27.13.

Penguin Solutions Stock Performance

Shares of NASDAQ PENG traded up $0.16 during midday trading on Friday, hitting $24.87. 524,495 shares of the company's stock were exchanged, compared to its average volume of 631,238. 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 stock's 50 day moving average price is $23.64 and its 200-day moving average price is $20.12. The firm has a market cap of $1.30 billion, a P/E ratio of 21.26 and a beta of 2.13. Penguin Solutions, Inc. has a twelve month low of $14.20 and a twelve month high of $25.94.

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