42,935 Shares in Penguin Solutions, Inc. (NASDAQ:PENG) Bought by Pacific Ridge Capital Partners LLC

Key Points

• Pacific Ridge Capital Partners LLC has acquired a new position in Penguin Solutions, purchasing 42,935 shares valued at approximately $746,000.
• Several hedge funds have made new acquisitions in Penguin Solutions, with notable investments including Allspring Global Investments Holdings LLC at $779,000.
• Analysts have varied new price targets for PENG with a consensus rating of "Buy" and a target price averaging around $27.13.

Pacific Ridge Capital Partners LLC purchased a new stake in Penguin Solutions, Inc. (NASDAQ:PENG - Free Report) in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 42,935 shares of the company's stock, valued at approximately $746,000. Pacific Ridge Capital Partners LLC owned about 0.08% of Penguin Solutions at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. New York State Teachers Retirement System purchased a new stake in shares of Penguin Solutions in the first quarter valued at $248,000. Allspring Global Investments Holdings LLC acquired a new stake in Penguin Solutions during the 1st quarter worth about $779,000. Cambridge Investment Research Advisors Inc. purchased a new position in Penguin Solutions during the 1st quarter valued at about $188,000. Principal Financial Group Inc. acquired a new position in shares of Penguin Solutions in the 1st quarter valued at about $4,608,000. Finally, New York State Common Retirement Fund purchased a new stake in shares of Penguin Solutions in the first quarter worth approximately $254,000.

Penguin Solutions Price Performance

Shares of NASDAQ:PENG traded down $0.23 during trading on Wednesday, reaching $22.90. The stock had a trading volume of 1,002,064 shares, compared to its average volume of 884,992. The stock has a market capitalization of $1.20 billion, a PE ratio of -81.78 and a beta of 2.02. 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 52 week low of $14.20 and a 52 week high of $25.94. The business's 50-day moving average price is $21.56 and its 200 day moving average price is $19.59.

Penguin Solutions (NASDAQ:PENG - Get Free Report) last released its quarterly earnings results on Tuesday, July 8th. The company reported $0.47 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 $324,251 billion during the quarter, compared to analysts' expectations of $330.82 million. As a group, equities analysts predict that Penguin Solutions, Inc. will post 1.05 earnings per share for the current year.

Analyst Upgrades and Downgrades

PENG has been the topic of a number of research analyst reports. Needham & Company LLC boosted their price objective on shares of Penguin Solutions from $27.00 to $30.00 and gave the company a "buy" rating in a research report on Tuesday, July 22nd. The Goldman Sachs Group upped their price target on shares of Penguin Solutions from $22.50 to $25.00 and gave the stock a "buy" rating in a research note on Wednesday, July 9th. Loop Capital upped their target price on Penguin Solutions from $30.00 to $35.00 and gave the stock a "buy" rating in a research report on Monday, July 14th. JMP Securities reissued a "market outperform" rating and issued a $26.00 price target on shares of Penguin Solutions in a research note on Wednesday, July 9th. Finally, Wall Street Zen downgraded Penguin Solutions from a "strong-buy" rating to a "buy" rating in a report on Saturday, July 12th. One analyst has rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Buy" and a consensus price target 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 transaction, the executive vice president owned 227,231 shares of the company's stock, valued at approximately $5,642,145.73. This trade represents a 21.83% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Penny Herscher sold 2,046 shares of the stock in a transaction on Tuesday, July 15th. The shares were sold at an average price of $25.42, for a total value of $52,009.32. Following the completion of the transaction, the director directly owned 18,222 shares in the company, valued at approximately $463,203.24. This trade represents a 10.09% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 66,175 shares of company stock worth $1,644,448. 2.60% of the stock is owned by company insiders.

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.