Fox Run Management L.L.C. Invests $877,000 in Penguin Solutions, Inc. $PENG

Key Points

• Fox Run Management L.L.C. has purchased a new stake in Penguin Solutions, acquiring 50,467 shares valued at approximately $877,000, representing 0.10% ownership.
• Multiple institutional investors are also increasing their positions in Penguin Solutions, with notable purchases including Principal Financial Group Inc. at $4.6 million and Allspring Global Investments Holdings LLC at $779,000.
• Analysts maintain a positive outlook on Penguin Solutions, with the stock receiving a consensus "Buy" rating and current price targets ranging from $24.00 to $35.00.

Fox Run Management L.L.C. acquired a new stake in shares of Penguin Solutions, Inc. (NASDAQ:PENG - Free Report) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 50,467 shares of the company's stock, valued at approximately $877,000. Fox Run Management L.L.C. owned 0.10% of Penguin Solutions at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Crews Bank & Trust purchased a new stake in shares of Penguin Solutions in the first quarter worth approximately $28,000. IFP Advisors Inc purchased a new stake in shares of Penguin Solutions in the first quarter worth approximately $39,000. CWM LLC purchased a new stake in shares of Penguin Solutions in the first quarter worth approximately $39,000. PNC Financial Services Group Inc. purchased a new stake in shares of Penguin Solutions in the first quarter worth approximately $62,000. Finally, KLP Kapitalforvaltning AS purchased a new stake in shares of Penguin Solutions in the first quarter worth approximately $167,000.

Penguin Solutions Stock Down 4.9%

NASDAQ PENG traded down $1.1690 during midday trading on Wednesday, hitting $22.9210. 539,435 shares of the company traded hands, compared to its average volume of 874,109. The company has a debt-to-equity ratio of 1.08, a current ratio of 2.62 and a quick ratio of 2.24. The company has a market cap of $1.20 billion, a PE ratio of -82.23 and a beta of 2.02. The company's 50-day simple moving average is $22.54 and its 200-day simple moving average is $19.84. Penguin Solutions, Inc. has a 52 week low of $14.20 and a 52 week high of $25.94.

Penguin Solutions (NASDAQ:PENG - Get Free Report) last announced its earnings results on Tuesday, July 8th. The company reported $0.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.30 by $0.17. The business had revenue of $324,251 billion for the quarter, compared to analysts' expectations of $330.82 million. Penguin Solutions had a positive return on equity of 13.27% and a negative net margin of 0.68%. Penguin Solutions has set its FY 2025 guidance at 1.750-1.850 EPS. As a group, equities research analysts forecast that Penguin Solutions, Inc. will post 1.05 earnings per share for the current year.

Insider Transactions at Penguin Solutions

In other news, EVP Jack A. Pacheco sold 63,447 shares of the firm's stock in a transaction dated Monday, July 21st. The stock was sold at an average price of $24.83, for a total transaction of $1,575,389.01. Following the sale, the executive vice president directly owned 227,231 shares in the company, valued at $5,642,145.73. This trade represents a 21.83% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Penny Herscher sold 2,046 shares of the firm's stock in a transaction dated Tuesday, July 15th. The shares were sold at an average price of $25.42, for a total value of $52,009.32. Following the sale, the director owned 18,222 shares in the company, valued at $463,203.24. This trade represents a 10.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 66,175 shares of company stock valued at $1,644,448 in the last quarter. Company insiders own 2.60% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. Loop Capital increased their price target on Penguin Solutions from $30.00 to $35.00 and gave the stock a "buy" rating in a report on Monday, July 14th. Needham & Company LLC increased their price target on Penguin Solutions from $27.00 to $30.00 and gave the stock a "buy" rating in a report on Tuesday, July 22nd. Wall Street Zen cut Penguin Solutions from a "strong-buy" rating to a "buy" rating in a research note on Saturday, July 12th. JPMorgan Chase & Co. increased their price objective on Penguin Solutions from $21.00 to $24.00 and gave the stock a "neutral" rating in a research note on Thursday, July 17th. Finally, JMP Securities reissued a "market outperform" rating and issued a $26.00 price objective on shares of Penguin Solutions in a research note on Wednesday, July 9th. One investment 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 MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus price target 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.