Foundry Partners LLC acquired a new stake in shares of Penguin Solutions, Inc. (NASDAQ:PENG - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 690,214 shares of the company's stock, valued at approximately $11,989,000. Foundry Partners LLC owned about 1.29% of Penguin Solutions as of its most recent filing with the Securities & Exchange Commission.
A number of other large investors have also made changes to their positions in the stock. Crews Bank & Trust acquired a new position in Penguin Solutions in the first quarter worth about $28,000. CWM LLC acquired a new position in shares of Penguin Solutions in the 1st quarter worth approximately $39,000. Cambridge Investment Research Advisors Inc. acquired a new position in shares of Penguin Solutions in the 1st quarter worth approximately $188,000. Oregon Public Employees Retirement Fund acquired a new position in shares of Penguin Solutions in the 1st quarter worth approximately $212,000. Finally, New York State Teachers Retirement System acquired a new position in Penguin Solutions during the first quarter worth $248,000.
Insider Buying and Selling at Penguin Solutions
In related news, Director Penny Herscher sold 2,046 shares of the stock in a transaction that occurred on Tuesday, July 15th. The shares were sold at an average price of $25.42, for a total value of $52,009.32. Following the transaction, the director owned 18,222 shares in the company, valued at approximately $463,203.24. This represents a 10.09% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 2.60% of the company's stock.
Analyst Upgrades and Downgrades
A number of analysts recently weighed in on PENG shares. Rosenblatt Securities reissued a "buy" rating and issued a $27.00 price target on shares of Penguin Solutions in a report on Thursday, July 3rd. Needham & Company LLC reiterated a "buy" rating and issued a $27.00 price objective on shares of Penguin Solutions in a research report on Wednesday, July 9th. Loop Capital set a $35.00 price objective on shares of Penguin Solutions and gave the company a "buy" rating in a research note on Monday, July 14th. JPMorgan Chase & Co. raised their target price on Penguin Solutions from $21.00 to $24.00 and gave the stock a "neutral" rating in a report on Thursday. Finally, The Goldman Sachs Group upped their price target on Penguin Solutions from $22.50 to $25.00 and gave the company a "buy" rating in a research note on Wednesday, July 9th. One investment analyst has rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Buy" and an average target price of $26.75.
Get Our Latest Stock Report on PENG
Penguin Solutions Stock Down 1.8%
Shares of NASDAQ:PENG traded down $0.45 during trading on Friday, hitting $24.43. The stock had a trading volume of 939,252 shares, compared to its average volume of 912,928. The firm's fifty day moving average is $20.21 and its 200 day moving average is $19.22. 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 company has a market capitalization of $1.28 billion, a PE ratio of -87.25 and a beta of 1.98. Penguin Solutions, Inc. has a 12 month low of $14.20 and a 12 month high of $25.94.
Penguin Solutions (NASDAQ:PENG - Get Free Report) last released its quarterly earnings results on Tuesday, July 8th. The company reported $0.47 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.30 by $0.17. The business had revenue of $324,251 billion 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%. Analysts anticipate that Penguin Solutions, Inc. will post 1.05 EPS for the current fiscal year.
About Penguin Solutions
(
Free Report)
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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