Barrow Hanley Mewhinney & Strauss LLC Takes $150.19 Million Position in Penguin Solutions, Inc. $PENG

Barrow Hanley Mewhinney & Strauss LLC bought a new stake in shares of Penguin Solutions, Inc. (NASDAQ:PENG - Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 1,975,948 shares of the company's stock, valued at approximately $150,192,000. Barrow Hanley Mewhinney & Strauss LLC owned 3.86% of Penguin Solutions at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Global Retirement Partners LLC bought a new position in shares of Penguin Solutions in the second quarter worth approximately $26,000. Allworth Financial LP purchased a new position in shares of Penguin Solutions in the second quarter worth $37,000. Meeder Asset Management Inc. bought a new stake in Penguin Solutions during the 2nd quarter valued at $92,000. Farther Finance Advisors LLC raised its holdings in Penguin Solutions by 187.0% during the 4th quarter. Farther Finance Advisors LLC now owns 1,452 shares of the company's stock valued at $28,000 after buying an additional 946 shares during the last quarter. Finally, Kestra Advisory Services LLC purchased a new stake in Penguin Solutions during the 4th quarter valued at $29,000.

Penguin Solutions Stock Performance

Shares of NASDAQ:PENG opened at $52.62 on Monday. The stock has a 50 day moving average of $61.83 and a 200 day moving average of $41.97. The company has a market cap of $2.70 billion, a PE ratio of 37.32 and a beta of 2.87. Penguin Solutions, Inc. has a 12-month low of $16.04 and a 12-month high of $89.86. The company has a current ratio of 1.54, a quick ratio of 1.10 and a debt-to-equity ratio of 0.65.

Penguin Solutions (NASDAQ:PENG - Get Free Report) last released its earnings results on Tuesday, July 7th. The company reported $0.84 EPS for the quarter, topping analysts' consensus estimates of $0.63 by $0.21. Penguin Solutions had a net margin of 6.44% and a return on equity of 28.23%. The company had revenue of $478.71 million for the quarter, compared to analysts' expectations of $407.47 million. During the same quarter last year, the business earned $0.52 EPS. As a group, equities research analysts expect that Penguin Solutions, Inc. will post 2.08 EPS for the current year.

Analysts Set New Price Targets

Several research analysts have recently weighed in on PENG shares. Rosenblatt Securities boosted their price target on Penguin Solutions from $65.00 to $75.00 and gave the stock a "buy" rating in a research note on Monday, July 6th. Wall Street Zen cut shares of Penguin Solutions from a "strong-buy" rating to a "buy" rating in a report on Sunday, July 26th. Needham & Company LLC increased their price target on shares of Penguin Solutions from $60.00 to $80.00 and gave the stock a "buy" rating in a research report on Wednesday, July 8th. Stifel Nicolaus boosted their price objective on shares of Penguin Solutions from $66.00 to $75.00 and gave the company a "buy" rating in a research report on Wednesday, July 8th. Finally, Weiss Ratings upgraded Penguin Solutions from a "hold (c-)" rating to a "hold (c)" rating in a research note on Wednesday, July 8th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $63.33.

Insiders Place Their Bets

In other news, SVP Anne Kuykendall sold 4,000 shares of the stock in a transaction on Monday, June 15th. The shares were sold at an average price of $64.38, for a total value of $257,520.00. Following the completion of the sale, the senior vice president directly owned 120,794 shares of the company's stock, valued at $7,776,717.72. This represents a 3.21% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Joseph Gates Clark sold 1,327 shares of the firm's stock in a transaction on Thursday, July 23rd. The shares were sold at an average price of $57.47, for a total transaction of $76,262.69. Following the sale, the senior vice president owned 63,056 shares in the company, valued at $3,623,828.32. The trade was a 2.06% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 19,678 shares of company stock valued at $1,160,946. Corporate insiders own 2.90% 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.

Want to see what other hedge funds are holding PENG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Penguin Solutions, Inc. (NASDAQ:PENG - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source