189,244 Shares in Penguin Solutions, Inc. $PENG Purchased by Hsbc Holdings PLC

Key Points

• HSBC Holdings PLC has purchased a new stake in Penguin Solutions, acquiring 189,244 shares valued at approximately $3.17 million, representing about 0.36% of the company.
• Multiple hedge funds have also invested in Penguin Solutions in the first quarter, with Wellington Management Group leading at approximately $13.53 million.
• Analysts have mixed views on Penguin Solutions, with one firm lowering its rating from "strong buy" to "buy," while others have set price targets ranging from $22.50 to $35.00.

Hsbc Holdings PLC purchased a new stake in Penguin Solutions, Inc. (NASDAQ:PENG - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 189,244 shares of the company's stock, valued at approximately $3,174,000. Hsbc Holdings PLC owned approximately 0.36% of Penguin Solutions as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of the business. Crews Bank & Trust bought a new stake in shares of Penguin Solutions in the 1st quarter valued at about $28,000. IFP Advisors Inc bought a new stake in shares of Penguin Solutions in the 1st quarter valued at about $39,000. CWM LLC bought a new stake in shares of Penguin Solutions in the 1st quarter valued at about $39,000. PNC Financial Services Group Inc. bought a new stake in shares of Penguin Solutions in the 1st quarter valued at about $62,000. Finally, KLP Kapitalforvaltning AS bought a new stake in shares of Penguin Solutions in the 1st quarter valued at about $167,000.

Penguin Solutions Stock Down 2.0%

Shares of PENG traded down $0.49 during mid-day trading on Monday, hitting $24.13. 459,960 shares of the company traded hands, compared to its average volume of 698,946. Penguin Solutions, Inc. has a 1-year low of $14.20 and a 1-year high of $25.94. 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 $1.26 billion, a PE ratio of -86.18 and a beta of 2.13. The business has a 50 day moving average of $23.33 and a 200 day moving average of $20.05.

Penguin Solutions (NASDAQ:PENG - Get Free Report) last posted its quarterly earnings data 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. Penguin Solutions had a negative net margin of 0.68% and a positive return on equity of 13.27%. The firm had revenue of $324.25 million for the quarter, compared to the consensus estimate of $330.82 million. 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 year.

Insider Transactions at Penguin Solutions

In related news, Director Penny Herscher sold 2,046 shares of Penguin Solutions 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 completion of the sale, the director 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 transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, 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 value of $1,575,389.01. Following the sale, the executive vice president directly owned 227,231 shares in the company, valued at approximately $5,642,145.73. This trade represents a 21.83% 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 in the last ninety days. Corporate insiders own 2.60% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on PENG shares. Wall Street Zen cut shares of Penguin Solutions from a "strong-buy" rating to a "buy" rating in a report on Saturday, July 12th. Rosenblatt Securities restated a "buy" rating and issued a $27.00 price target on shares of Penguin Solutions in a report on Monday, August 11th. JMP Securities restated a "market outperform" rating and issued a $26.00 price target on shares of Penguin Solutions in a report on Wednesday, July 9th. JPMorgan Chase & Co. raised their price target on shares of Penguin Solutions from $21.00 to $24.00 and gave the company a "neutral" rating in a report on Thursday, July 17th. Finally, The Goldman Sachs Group raised their price target on shares of Penguin Solutions from $22.50 to $25.00 and gave the company a "buy" rating in a report on Wednesday, July 9th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Buy" and a consensus price target of $27.13.

Penguin Solutions Profile

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.