Charles Schwab Investment Management Inc. Buys Shares of 851,228 Penguin Solutions, Inc. $PENG

Key Points

• Charles Schwab Investment Management Inc. has acquired approximately 851,228 shares of Penguin Solutions, valued at about $14.8 million, representing 1.61% ownership of the company as of the end of the last quarter.
• Several large investors, including Vanguard Group Inc., have also recently invested in Penguin Solutions, collectively acquiring significant stakes in the company worth over $111 million.
• Analysts are optimistic about Penguin Solutions, with multiple firms raising their price targets, including an increase to $30 by Needham & Company LLC and to $35 by Loop Capital.

Charles Schwab Investment Management Inc. acquired a new stake in shares of Penguin Solutions, Inc. (NASDAQ:PENG - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 851,228 shares of the company's stock, valued at approximately $14,786,000. Charles Schwab Investment Management Inc. owned approximately 1.61% of Penguin Solutions as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently made changes to their positions in PENG. Crews Bank & Trust purchased a new stake in shares of Penguin Solutions during the 1st quarter valued at $28,000. Cambridge Investment Research Advisors Inc. purchased a new stake in shares of Penguin Solutions during the 1st quarter valued at $188,000. Allspring Global Investments Holdings LLC purchased a new stake in shares of Penguin Solutions during the 1st quarter valued at $779,000. Amalgamated Bank purchased a new stake in shares of Penguin Solutions during the 1st quarter valued at $264,000. Finally, New York State Teachers Retirement System purchased a new stake in shares of Penguin Solutions during the 1st quarter valued at $248,000.

Penguin Solutions Stock Down 0.2%

Penguin Solutions stock traded down $0.04 during trading hours on Tuesday, hitting $24.43. The stock had a trading volume of 440,736 shares, compared to its average volume of 828,301. The company has a quick ratio of 2.24, a current ratio of 2.62 and a debt-to-equity ratio of 1.08. The stock has a market capitalization of $1.28 billion, a P/E ratio of 20.92 and a beta of 2.02. Penguin Solutions, Inc. has a 12-month low of $14.20 and a 12-month high of $25.94. The stock's 50-day moving average price is $22.97 and its 200-day moving average price is $19.97.

Penguin Solutions (NASDAQ:PENG - Get Free Report) last issued its earnings results 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 $324,251 billion during the quarter, compared to analysts' expectations 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 research analysts anticipate that Penguin Solutions, Inc. will post 1.05 EPS for the current fiscal year.

Insider Activity at Penguin Solutions

In other news, EVP Jack A. Pacheco sold 63,447 shares of the business's stock in a transaction that occurred on 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 directly 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 transaction 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 shares were sold at an average price of $25.42, for a total transaction of $52,009.32. Following the transaction, the director directly owned 18,222 shares of the company's stock, valued at $463,203.24. The trade was a 10.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 66,175 shares of company stock valued at $1,644,448 over the last three months. 2.60% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on PENG. Rosenblatt Securities restated a "buy" rating and issued a $27.00 price objective on shares of Penguin Solutions in a research report on Monday, August 11th. JMP Securities restated a "market outperform" rating and issued a $26.00 price objective on shares of Penguin Solutions in a research report on Wednesday, July 9th. Needham & Company LLC boosted their price objective on shares of Penguin Solutions from $27.00 to $30.00 and gave the company a "buy" rating in a research report on Tuesday, July 22nd. Loop Capital boosted their price objective on shares of Penguin Solutions from $30.00 to $35.00 and gave the company a "buy" rating in a research report on Monday, July 14th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Penguin Solutions from $21.00 to $24.00 and gave the company a "neutral" rating in a research report on Thursday, July 17th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Buy" and a consensus target price of $27.13.

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.