Optimize Financial Inc Acquires New Holdings in Penguin Solutions, Inc. $PENG

Key Points

• Optimize Financial Inc has acquired a new stake of 101,115 shares in Penguin Solutions, Inc., valued at approximately $1,756,000, making it the 23rd largest position in their investment portfolio.
• Several institutional investors have joined in buying shares of Penguin Solutions, with new positions valued between $28,000 and $62,000 in the first quarter.
• Research analysts have shown confidence in the stock, with a consensus rating of "Buy" and an average price target of $27.13, reflecting positive sentiment about the company's future performance.

Optimize Financial Inc acquired a new stake in shares of Penguin Solutions, Inc. (NASDAQ:PENG - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 101,115 shares of the company's stock, valued at approximately $1,756,000. Penguin Solutions accounts for approximately 0.7% of Optimize Financial Inc's investment portfolio, making the stock its 23rd biggest position. Optimize Financial Inc owned 0.19% of Penguin Solutions as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Crews Bank & Trust acquired a new position in Penguin Solutions during the first quarter valued at approximately $28,000. IFP Advisors Inc acquired a new position in shares of Penguin Solutions in the first quarter valued at approximately $39,000. CWM LLC acquired a new position in shares of Penguin Solutions in the first quarter valued at approximately $39,000. Virtus Advisers LLC acquired a new position in shares of Penguin Solutions in the first quarter valued at approximately $43,000. Finally, PNC Financial Services Group Inc. acquired a new position in shares of Penguin Solutions in the first quarter valued at approximately $62,000.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. The Goldman Sachs Group upped their price target on shares of Penguin Solutions from $22.50 to $25.00 and gave the company a "buy" rating in a report on Wednesday, July 9th. Wall Street Zen cut shares of Penguin Solutions from a "strong-buy" rating to a "buy" rating in a report on Saturday, July 12th. JMP Securities reiterated a "market outperform" rating and issued a $26.00 price target on shares of Penguin Solutions in a report on Wednesday, July 9th. Needham & Company LLC upped their price target on shares of Penguin Solutions from $27.00 to $30.00 and gave the company a "buy" rating in a report on Tuesday, July 22nd. Finally, Loop Capital upped their price target on shares of Penguin Solutions from $30.00 to $35.00 and gave the company a "buy" rating in a report on Monday, July 14th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has given a Hold rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Buy" and an average price target of $27.13.

Insider Buying and Selling at Penguin Solutions

In other Penguin Solutions news, Director Penny Herscher sold 2,046 shares of the company's stock in a transaction 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 sale, the director directly owned 18,222 shares of the company's stock, valued at approximately $463,203.24. This represents a 10.09% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Jack A. Pacheco sold 63,447 shares of the stock in a transaction dated Monday, July 21st. The shares were 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 $5,642,145.73. The trade was 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 worth $1,644,448 over the last ninety days. Insiders own 2.60% of the company's stock.

Penguin Solutions Stock Performance

Shares of PENG opened at $24.75 on Tuesday. Penguin Solutions, Inc. has a 12 month low of $14.20 and a 12 month high of $25.94. The firm has a fifty day simple moving average of $23.74 and a 200 day simple moving average of $20.14. The stock has a market capitalization of $1.30 billion, a price-to-earnings ratio of -88.39 and a beta of 2.13. 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 announced its earnings results on Tuesday, July 8th. The company reported $0.47 EPS for the quarter, topping the consensus estimate of $0.30 by $0.17. Penguin Solutions had a negative net margin of 0.68% and a positive return on equity of 13.27%. The business had revenue of $324.25 million during the quarter, compared to analysts' expectations of $330.82 million. Penguin Solutions has set its FY 2025 guidance at 1.750-1.850 EPS. Research analysts forecast 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.

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