California State Teachers Retirement System Purchases 25,763 Shares of Penguin Solutions, Inc. $PENG

Key Points

• California State Teachers Retirement System increased its Penguin Solutions stake by 52.8% in the first quarter, purchasing 25,763 additional shares and bringing its holdings to 74,580 shares valued at approximately $1.31 million.
• Penguin Solutions reported quarterly revenue of $478.7 million and EPS of $0.84, exceeding analyst expectations of $407.5 million in revenue and $0.63 EPS.
• Analyst sentiment remains generally positive, with a consensus “Moderate Buy” rating and an average price target of $63.33, though ratings range from “Strong Buy” to “Sell.” Insiders sold 19,678 shares worth about $1.16 million over the past three months.

California State Teachers Retirement System boosted its position in Penguin Solutions, Inc. (NASDAQ:PENG - Free Report) by 52.8% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 74,580 shares of the company's stock after purchasing an additional 25,763 shares during the quarter. California State Teachers Retirement System owned about 0.15% of Penguin Solutions worth $1,313,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently bought and sold shares of PENG. Farther Finance Advisors LLC increased its holdings in shares of Penguin Solutions by 187.0% in the fourth quarter. Farther Finance Advisors LLC now owns 1,452 shares of the company's stock worth $28,000 after purchasing an additional 946 shares during the period. Kestra Advisory Services LLC purchased a new position in Penguin Solutions during the fourth quarter worth about $29,000. Raymond James Financial Inc. purchased a new position in Penguin Solutions during the second quarter worth about $37,000. Advisory Services Network LLC bought a new position in Penguin Solutions in the 3rd quarter worth about $50,000. Finally, Torren Management LLC bought a new position in Penguin Solutions in the 4th quarter worth about $48,000.

Penguin Solutions Trading Up 3.7%

PENG stock opened at $60.90 on Friday. The company has a market capitalization of $3.12 billion, a PE ratio of 43.19 and a beta of 2.87. Penguin Solutions, Inc. has a one year low of $16.04 and a one year high of $89.86. The company's 50 day moving average price is $62.46 and its two-hundred day moving average price is $40.39. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.10 and a current ratio of 1.54.

Penguin Solutions (NASDAQ:PENG - Get Free Report) last announced its quarterly earnings data on Tuesday, July 7th. The company reported $0.84 earnings per share (EPS) for the quarter, beating 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 during the quarter, compared to analysts' expectations of $407.47 million. During the same quarter in the prior year, the company earned $0.52 EPS. As a group, analysts predict that Penguin Solutions, Inc. will post 2.08 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on PENG shares. Barclays downgraded Penguin Solutions from an "equal weight" rating to an "underweight" rating and set a $40.00 price target for the company. in a research report on Monday, July 20th. Citizens Jmp raised their target price on shares of Penguin Solutions from $65.00 to $85.00 and gave the company a "market outperform" rating in a research note on Wednesday, July 8th. Zacks Research upgraded shares of Penguin Solutions from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, June 30th. Stifel Nicolaus boosted their price target on shares of Penguin Solutions from $66.00 to $75.00 and gave the stock a "buy" rating in a research note on Wednesday, July 8th. Finally, Wall Street Zen lowered shares of Penguin Solutions from a "strong-buy" rating to a "buy" rating in a report on Sunday, July 26th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $63.33.

Insider Buying and Selling at Penguin Solutions

In other news, SVP Joseph Gates Clark sold 1,327 shares of the firm's stock in a transaction dated Thursday, July 23rd. The stock was sold at an average price of $57.47, for a total transaction of $76,262.69. Following the transaction, the senior vice president directly owned 63,056 shares of the company's stock, valued at approximately $3,623,828.32. This trade represents a 2.06% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Anne Kuykendall sold 4,000 shares of Penguin Solutions stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $64.38, for a total value of $257,520.00. Following the completion of the transaction, the senior vice president owned 120,794 shares in the company, valued at approximately $7,776,717.72. This represents a 3.21% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 19,678 shares of company stock valued at $1,160,946 over the last three months. 2.90% of the stock is currently owned by insiders.

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.

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