Hsbc Holdings PLC Invests $3.17 Million in Penguin Solutions, Inc. $PENG

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 bought a new stake in Penguin Solutions, Inc. (NASDAQ:PENG - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 189,244 shares of the company's stock, valued at approximately $3,174,000. Hsbc Holdings PLC owned 0.36% of Penguin Solutions at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of PENG. Crews Bank & Trust acquired a new position in shares of Penguin Solutions in the first quarter valued at approximately $28,000. Cambridge Investment Research Advisors Inc. acquired a new position in shares of Penguin Solutions in the first quarter valued at approximately $188,000. Allspring Global Investments Holdings LLC acquired a new position in shares of Penguin Solutions in the first quarter valued at approximately $779,000. Amalgamated Bank acquired a new position in Penguin Solutions during the first quarter worth $264,000. Finally, New York State Teachers Retirement System acquired a new position in Penguin Solutions during the first quarter worth $248,000.

Penguin Solutions Price Performance

Shares of PENG traded down $0.49 during trading hours on Friday, reaching $24.13. 459,960 shares of the company traded hands, compared to its average volume of 718,555. 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 $1.26 billion, a PE ratio of 21.04 and a beta of 2.02. Penguin Solutions, Inc. has a fifty-two week low of $14.20 and a fifty-two week high of $25.94. The stock has a fifty day simple moving average of $23.24 and a 200 day simple moving average of $20.04.

Penguin Solutions (NASDAQ:PENG - Get Free Report) last released its earnings results on Tuesday, July 8th. The company reported $0.47 earnings per share for the quarter, topping the consensus estimate 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 $324.25 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. As a group, research analysts predict that Penguin Solutions, Inc. will post 1.05 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the company. Rosenblatt Securities reaffirmed a "buy" rating and set a $27.00 price objective on shares of Penguin Solutions in a report on Monday, August 11th. JMP Securities reaffirmed a "market outperform" rating and set a $26.00 price objective on shares of Penguin Solutions in a report on Wednesday, July 9th. Loop Capital upped their price objective on Penguin Solutions from $30.00 to $35.00 and gave the stock a "buy" rating in a report on Monday, July 14th. Wall Street Zen lowered Penguin Solutions from a "strong-buy" rating to a "buy" rating in a report on Saturday, July 12th. Finally, Needham & Company LLC upped their target price on Penguin Solutions from $27.00 to $30.00 and gave the company a "buy" rating in a report on Tuesday, July 22nd. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has given a Hold rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Buy" and a consensus price target of $27.13.

Insider Activity

In other Penguin Solutions news, Director Penny Herscher sold 2,046 shares of the firm's stock in a transaction that occurred on 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 in the company, valued at $463,203.24. This trade represents a 10.09% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Jack A. Pacheco sold 63,447 shares of the firm'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 value of $1,575,389.01. Following the sale, the executive vice president owned 227,231 shares of the company's stock, valued at approximately $5,642,145.73. This trade represents a 21.83% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 66,175 shares of company stock worth $1,644,448. Company insiders own 2.60% of the company's stock.

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.