Foundry Partners LLC Purchases New Position in Penguin Solutions, Inc. (NASDAQ:PENG)

Foundry Partners LLC bought a new position in shares of Penguin Solutions, Inc. (NASDAQ:PENG - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 690,214 shares of the company's stock, valued at approximately $11,989,000. Foundry Partners LLC owned about 1.29% of Penguin Solutions at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in PENG. Segall Bryant & Hamill LLC bought a new position in shares of Penguin Solutions in the 1st quarter valued at $1,900,000. CWM LLC bought a new position in shares of Penguin Solutions in the 1st quarter valued at $39,000. Louisiana State Employees Retirement System bought a new position in shares of Penguin Solutions in the 1st quarter valued at $436,000. New York State Common Retirement Fund bought a new position in shares of Penguin Solutions in the 1st quarter valued at $254,000. Finally, Arizona State Retirement System bought a new position in shares of Penguin Solutions in the 1st quarter valued at $251,000.

Insider Transactions at Penguin Solutions

In other news, EVP Jack A. Pacheco sold 63,447 shares of the stock in a transaction dated 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 transaction, the executive vice president owned 227,231 shares of the company's stock, valued at $5,642,145.73. This represents a 21.83% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Penny Herscher sold 2,046 shares of the stock in a transaction dated Tuesday, July 15th. The stock was 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 in the company, valued at $463,203.24. This trade represents a 10.09% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 66,175 shares of company stock worth $1,644,448 in the last three months. Insiders own 2.60% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on PENG. JMP Securities restated a "market outperform" rating and issued a $26.00 price objective on shares of Penguin Solutions in a report on Wednesday, July 9th. Wall Street Zen downgraded Penguin Solutions from a "strong-buy" rating to a "buy" rating in a report on Saturday, July 12th. Loop Capital increased their price objective on Penguin Solutions from $30.00 to $35.00 and gave the company a "buy" rating in a report on Monday, July 14th. JPMorgan Chase & Co. increased their price objective on Penguin Solutions from $21.00 to $24.00 and gave the company a "neutral" rating in a report on Thursday, July 17th. Finally, Rosenblatt Securities restated a "buy" rating and issued a $27.00 price objective on shares of Penguin Solutions in a report on Thursday, July 3rd. One research analyst has rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Buy" and an average price target of $27.13.

Penguin Solutions Trading Down 0.5%

Penguin Solutions stock traded down $0.13 during trading hours on Tuesday, reaching $24.45. 1,043,656 shares of the company's stock were exchanged, compared to its average volume of 913,462. 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 firm's 50 day simple moving average is $20.32 and its 200 day simple moving average is $19.25. Penguin Solutions, Inc. has a twelve month low of $14.20 and a twelve month high of $25.94. The firm has a market capitalization of $1.28 billion, a PE ratio of -87.32 and a beta of 1.98.

Penguin Solutions (NASDAQ:PENG - Get Free Report) last issued its quarterly earnings results on Tuesday, July 8th. The company reported $0.47 earnings per share for the quarter, topping 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 firm had revenue of $324,251 billion during the quarter, compared to the consensus estimate of $330.82 million. Research analysts predict that Penguin Solutions, Inc. will post 1.05 earnings per share for the current year.

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.