364,632 Shares in Penguin Solutions, Inc. $PENG Purchased by Invenomic Capital Management LP

Key Points

• Invenomic Capital Management purchased 364,632 shares of Penguin Solutions, Inc. valued at approximately $6.3 million, representing a 0.69% ownership stake as per their latest SEC filing.
• Executives, including EVP Jack A. Pacheco, sold significant portions of their shares, with Pacheco selling 63,447 shares worth about $1.58 million, indicating insider selling activity.
• Analysts have mixed ratings on Penguin Solutions stock, with price targets ranging from $24.00 to $27.00, reflecting varying confidence in the company’s growth potential.

Invenomic Capital Management LP purchased a new position in Penguin Solutions, Inc. (NASDAQ:PENG - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 364,632 shares of the company's stock, valued at approximately $6,334,000. Invenomic Capital Management LP owned about 0.69% of Penguin Solutions at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. New York State Teachers Retirement System bought a new stake in Penguin Solutions during the 1st quarter valued at $248,000. Allspring Global Investments Holdings LLC bought a new stake in shares of Penguin Solutions during the first quarter valued at about $779,000. Cambridge Investment Research Advisors Inc. acquired a new stake in Penguin Solutions in the first quarter worth about $188,000. Principal Financial Group Inc. acquired a new stake in Penguin Solutions in the first quarter worth about $4,608,000. Finally, Charles Schwab Investment Management Inc. bought a new stake in shares of Penguin Solutions during the 1st quarter worth about $14,786,000.

Penguin Solutions Price Performance

Shares of PENG traded down $0.30 during trading hours on Tuesday, hitting $24.45. 815,274 shares of the company were exchanged, compared to its average volume of 854,079. 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 capitalization of $1.28 billion, a PE ratio of -87.32 and a beta of 2.13. The firm has a fifty day simple moving average of $23.74 and a 200-day simple moving average of $20.14. Penguin Solutions, Inc. has a one year low of $14.20 and a one year 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, topping analysts' consensus estimates of $0.30 by $0.17. The company had revenue of $324.25 million for the quarter, compared to analyst estimates 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, sell-side analysts predict that Penguin Solutions, Inc. will post 1.05 earnings per share for the current year.

Insider Transactions at Penguin Solutions

In other Penguin Solutions news, 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 completion of 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP Jack A. Pacheco sold 63,447 shares of Penguin Solutions stock in a transaction that occurred on 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 completion of the transaction, 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 over the last ninety days. Insiders own 2.60% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on PENG. Rosenblatt Securities reiterated a "buy" rating and issued a $27.00 price objective on shares of Penguin Solutions in a report on Monday, August 11th. The Goldman Sachs Group upped their target price on Penguin Solutions from $22.50 to $25.00 and gave the stock a "buy" rating in a research report on Wednesday, July 9th. JPMorgan Chase & Co. lifted their price target on Penguin Solutions from $21.00 to $24.00 and gave the company a "neutral" rating in a research report on Thursday, July 17th. Needham & Company LLC boosted their price objective on Penguin Solutions from $27.00 to $30.00 and gave the stock a "buy" rating in a research note on Tuesday, July 22nd. Finally, 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. One equities research 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 company's stock. According to MarketBeat, Penguin Solutions has an average rating of "Buy" and an average 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.