North Star Investment Management Corp. Takes Position in Penguin Solutions, Inc. $PENG

Key Points

• North Star Investment Management Corp. acquired a new stake in Penguin Solutions, Inc. during Q2, buying 78,219 shares valued at approximately $1.55 million, which represents about 0.15% ownership.
• Multiple hedge funds have made recent adjustments to their holdings in Penguin Solutions, including a new position from Goldman Sachs worth about $3.26 million.
• Wall Street analysts maintain a consensus rating of “Moderate Buy” for Penguin Solutions, with a target price averaging $27.13, reflecting a mix of ratings from various research firms.

North Star Investment Management Corp. bought a new stake in Penguin Solutions, Inc. (NASDAQ:PENG - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 78,219 shares of the company's stock, valued at approximately $1,550,000. North Star Investment Management Corp. owned about 0.15% of Penguin Solutions at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the business. GAMMA Investing LLC bought a new position in shares of Penguin Solutions in the 2nd quarter valued at about $158,000. UMB Bank n.a. acquired a new position in shares of Penguin Solutions during the 2nd quarter worth about $44,000. Goldman Sachs Group Inc. acquired a new position in shares of Penguin Solutions during the 1st quarter worth about $3,259,000. Voya Investment Management LLC grew its position in shares of Penguin Solutions by 34.1% during the 1st quarter. Voya Investment Management LLC now owns 29,202 shares of the company's stock worth $507,000 after buying an additional 7,421 shares during the period. Finally, Inspire Investing LLC acquired a new position in shares of Penguin Solutions during the 1st quarter worth about $407,000.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on PENG. JPMorgan Chase & Co. boosted their target price on Penguin Solutions from $21.00 to $24.00 and gave the stock a "neutral" rating in a research report on Thursday, July 17th. Wall Street Zen lowered Penguin Solutions from a "strong-buy" rating to a "buy" rating in a research report on Saturday, July 12th. Needham & Company LLC boosted their target price on Penguin Solutions from $27.00 to $30.00 and gave the stock a "buy" rating in a research report on Tuesday, July 22nd. Zacks Research lowered Penguin Solutions from a "strong-buy" rating to a "hold" rating in a research report on Monday, September 8th. Finally, Rosenblatt Securities restated a "buy" rating and set a $27.00 target price on shares of Penguin Solutions in a research report on Monday, August 11th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and two have issued a Hold rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $27.13.

Penguin Solutions Trading Down 2.1%

NASDAQ:PENG opened at $26.54 on Friday. Penguin Solutions, Inc. has a fifty-two week low of $14.20 and a fifty-two week high of $28.20. 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 stock has a market capitalization of $1.39 billion, a PE ratio of -94.78 and a beta of 2.13. The business's 50-day simple moving average is $24.75 and its 200-day simple moving average is $20.79.

Penguin Solutions (NASDAQ:PENG - Get Free Report) last released its quarterly earnings data on Tuesday, July 8th. The company reported $0.47 earnings per share for the quarter, beating 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 business had revenue of $324.25 million for the quarter, compared to analysts' expectations of $330.82 million. Penguin Solutions has set its FY 2025 guidance at 1.750-1.850 EPS. Sell-side analysts expect that Penguin Solutions, Inc. will post 1.05 earnings per share for the current fiscal year.

Insider Activity at Penguin Solutions

In other Penguin Solutions news, Director Penny Herscher sold 2,046 shares of the business'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 value of $52,009.32. Following the sale, the director owned 18,222 shares in the company, valued at approximately $463,203.24. The trade was a 10.09% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Jack A. Pacheco sold 63,447 shares of the business'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 completion of the sale, the executive vice president owned 227,231 shares in the company, valued at $5,642,145.73. The trade was a 21.83% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 66,175 shares of company stock worth $1,644,448 in the last 90 days. Company insiders own 2.60% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.