330,474 Shares in Penguin Solutions, Inc. $PENG Acquired by Invesco Ltd.

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

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Crews Bank & Trust acquired a new position in shares of Penguin Solutions in the 1st quarter valued at about $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.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the company. Loop Capital increased their price objective on Penguin Solutions from $30.00 to $35.00 and gave the stock a "buy" rating in a research note on Monday, July 14th. Wall Street Zen downgraded Penguin Solutions from a "strong-buy" rating to a "buy" rating in a research note on Saturday, July 12th. JPMorgan Chase & Co. upped their target price on Penguin Solutions from $21.00 to $24.00 and gave the company a "neutral" rating in a report on Thursday, July 17th. The Goldman Sachs Group raised their price target on Penguin Solutions from $22.50 to $25.00 and gave the stock a "buy" rating in a report on Wednesday, July 9th. Finally, Needham & Company LLC raised their price target on Penguin Solutions from $27.00 to $30.00 and gave the company a "buy" rating in a research report on Tuesday, July 22nd. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of "Buy" and a consensus price target of $27.13.

Insider Activity at Penguin Solutions

In other news, EVP Jack A. Pacheco sold 63,447 shares of the 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 completion of the sale, the executive vice president owned 227,231 shares of the company's stock, valued at $5,642,145.73. This represents a 21.83% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Penny Herscher sold 2,046 shares of the firm's stock in a transaction that occurred on Tuesday, July 15th. The shares were sold at an average price of $25.42, for a total transaction of $52,009.32. Following the completion of the transaction, the director directly owned 18,222 shares of the company's stock, valued at $463,203.24. This represents a 10.09% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 66,175 shares of company stock valued at $1,644,448. Corporate insiders own 2.60% of the company's stock.

Penguin Solutions Trading Down 1.2%

Shares of NASDAQ:PENG traded down $0.29 during trading on Tuesday, reaching $23.84. The company's stock had a trading volume of 649,158 shares, compared to its average volume of 667,898. The company has a current ratio of 2.62, a quick ratio of 2.24 and a debt-to-equity ratio of 1.08. The stock has a market capitalization of $1.25 billion, a PE ratio of -85.14 and a beta of 2.13. Penguin Solutions, Inc. has a 12 month low of $14.20 and a 12 month high of $25.94. The firm's 50 day simple moving average is $23.40 and its two-hundred day simple moving average is $20.08.

Penguin Solutions (NASDAQ:PENG - Get Free Report) last issued its earnings results on Tuesday, July 8th. The company reported $0.47 EPS for the quarter, topping analysts' consensus estimates of $0.30 by $0.17. The business had revenue of $324.25 million for the quarter, compared to analyst estimates of $330.82 million. Penguin Solutions had a negative net margin of 0.68% and a positive return on equity of 13.27%. Penguin Solutions has set its FY 2025 guidance at 1.750-1.850 EPS. On average, research analysts predict that Penguin Solutions, Inc. will post 1.05 EPS for the current fiscal year.

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.