31,141 Shares in Penguin Solutions, Inc. $PENG Bought by MetLife Investment Management LLC

Key Points

• MetLife Investment Management LLC invested approximately $541,000 in Penguin Solutions, Inc., acquiring 31,141 shares in the company during the first quarter.
• Multiple hedge funds have also recently purchased shares in Penguin Solutions, with total new investments reaching as high as $167,000.
• Analysts have shown strong support for the stock, with the consensus rating at "Buy" and a target price averaging around $27.13.

MetLife Investment Management LLC bought a new position in shares of Penguin Solutions, Inc. (NASDAQ:PENG - Free Report) during the 1st quarter, according to the company in its most recent filing with the SEC. The fund bought 31,141 shares of the company's stock, valued at approximately $541,000. MetLife Investment Management LLC owned 0.06% of Penguin Solutions at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Crews Bank & Trust acquired a new position in Penguin Solutions during the 1st quarter worth approximately $28,000. IFP Advisors Inc acquired a new position in Penguin Solutions during the 1st quarter worth approximately $39,000. CWM LLC acquired a new position in Penguin Solutions during the 1st quarter worth approximately $39,000. PNC Financial Services Group Inc. acquired a new stake in shares of Penguin Solutions in the 1st quarter worth approximately $62,000. Finally, KLP Kapitalforvaltning AS acquired a new stake in shares of Penguin Solutions in the 1st quarter worth approximately $167,000.

Penguin Solutions Price Performance

NASDAQ:PENG traded down $0.11 during trading hours on Friday, reaching $26.04. 625,290 shares of the company traded hands, compared to its average volume of 767,971. The firm's 50-day moving average is $24.14 and its 200-day moving average is $20.28. The stock has a market cap of $1.36 billion, a P/E ratio of -93.00 and a beta of 2.13. The company has a debt-to-equity ratio of 1.08, a current ratio of 2.62 and a quick ratio of 2.24. Penguin Solutions, Inc. has a 1-year low of $14.20 and a 1-year high of $26.53.

Penguin Solutions (NASDAQ:PENG - Get Free Report) last announced its earnings results on Tuesday, July 8th. The company reported $0.47 EPS for the quarter, beating analysts' consensus estimates of $0.30 by $0.17. The firm had revenue of $324.25 million for the quarter, compared to analysts' expectations 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. Equities research analysts expect that Penguin Solutions, Inc. will post 1.05 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the company. Loop Capital upped their price target on Penguin Solutions from $30.00 to $35.00 and gave the stock a "buy" rating in a report on Monday, July 14th. 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. 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 report on Thursday, July 17th. Needham & Company LLC upped their price target on Penguin Solutions from $27.00 to $30.00 and gave the stock a "buy" rating in a report on Tuesday, July 22nd. Finally, Zacks Research cut Penguin Solutions from a "strong-buy" rating to a "hold" rating in a report on Monday. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, Penguin Solutions has an average rating of "Moderate Buy" and an average price target of $27.13.

Insiders Place Their Bets

In other Penguin Solutions news, EVP Jack A. Pacheco sold 63,447 shares of the stock in a transaction 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 transaction, 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 sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director Penny Herscher sold 2,046 shares of the stock in a transaction on Tuesday, July 15th. The stock was sold at an average price of $25.42, for a total value of $52,009.32. Following the transaction, the director directly owned 18,222 shares in the company, valued at approximately $463,203.24. This represents a 10.09% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 66,175 shares of company stock worth $1,644,448. 2.60% of the stock is owned by insiders.

Penguin Solutions Company 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.