Invesco Ltd. Buys New Position in Penguin Solutions, Inc. $PENG

Key Points

• Invesco Ltd. has acquired a new position in Penguin Solutions, purchasing 330,474 shares valued at approximately $5.74 million, representing 0.63% ownership at the end of the last quarter.
• Several other hedge funds, including Vanguard Group Inc. and Charles Schwab Investment Management, also entered new stakes in Penguin Solutions during the same quarter.
• Despite a recent stock price dip of 0.7%, analysts have generally positive outlooks, with price targets ranging from $22.50 to $35.00 and a consensus rating of "Buy."

Invesco Ltd. bought a new stake in shares of Penguin Solutions, Inc. (NASDAQ:PENG - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 330,474 shares of the company's stock, valued at approximately $5,740,000. Invesco Ltd. owned 0.63% of Penguin Solutions at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of PENG. Vanguard Group Inc. bought a new stake in Penguin Solutions during the first quarter valued at about $111,458,000. Charles Schwab Investment Management Inc. bought a new position in shares of Penguin Solutions during the 1st quarter valued at approximately $14,786,000. Royce & Associates LP bought a new position in shares of Penguin Solutions during the 1st quarter valued at approximately $14,020,000. Deutsche Bank AG bought a new position in shares of Penguin Solutions during the 1st quarter valued at approximately $13,231,000. Finally, Foundry Partners LLC bought a new position in shares of Penguin Solutions during the 1st quarter valued at approximately $11,989,000.

Penguin Solutions Stock Down 0.7%

Shares of NASDAQ:PENG opened at $24.26 on Thursday. The company has a market cap of $1.27 billion, a price-to-earnings ratio of -86.64 and a beta of 2.02. Penguin Solutions, Inc. has a 12 month low of $14.20 and a 12 month high of $25.94. The company has a 50-day moving average price of $23.06 and a 200 day moving average price of $20.00. The company has a current ratio of 2.62, a quick ratio of 2.24 and a debt-to-equity ratio of 1.08.

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. The business had revenue of $324,251 billion during 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, equities research analysts predict that Penguin Solutions, Inc. will post 1.05 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on PENG shares. Loop Capital upped their price target on shares of Penguin Solutions from $30.00 to $35.00 and gave the stock a "buy" rating in a research report on Monday, July 14th. Wall Street Zen lowered Penguin Solutions from a "strong-buy" rating to a "buy" rating in a research note on Saturday, July 12th. The Goldman Sachs Group upped their price objective on Penguin Solutions from $22.50 to $25.00 and gave the stock a "buy" rating in a research note on Wednesday, July 9th. JPMorgan Chase & Co. upped their price target 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 restated a "market outperform" rating and issued a $26.00 price target on shares of Penguin Solutions in a research note on Wednesday, July 9th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, Penguin Solutions has a consensus rating of "Buy" and a consensus target price of $27.13.

Insider Activity

In other news, EVP Jack A. Pacheco sold 63,447 shares of the firm's stock in a transaction dated 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 completion of the sale, the executive vice president owned 227,231 shares in the company, valued at approximately $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 can be accessed through the SEC website. Also, Director Penny Herscher sold 2,046 shares of the firm's 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 directly owned 18,222 shares of the company's stock, valued at approximately $463,203.24. The trade was a 10.09% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 66,175 shares of company stock valued at $1,644,448 in the last 90 days. 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.

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