Penguin Solutions, Inc. $PENG Shares Purchased by First Trust Advisors LP

Key Points

• First Trust Advisors increased its Penguin Solutions stake by 241.3% in the first quarter, owning 49,067 shares valued at approximately $864,000. Several other institutional investors also added to their positions.
• Analyst sentiment remains broadly positive but mixed: Penguin Solutions has an average “Moderate Buy” rating and a $63.33 consensus price target, with recent targets ranging from $40 to $85.
• Penguin Solutions reported quarterly EPS of $0.84 versus the $0.63 consensus estimate and revenue of $478.71 million, ahead of expectations. Shares opened at $55.18, down 5.6%, while insiders sold 22,678 shares worth about $1.31 million during the last quarter.

First Trust Advisors LP raised its stake in shares of Penguin Solutions, Inc. (NASDAQ:PENG - Free Report) by 241.3% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 49,067 shares of the company's stock after buying an additional 34,691 shares during the quarter. First Trust Advisors LP owned about 0.10% of Penguin Solutions worth $864,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the stock. Osaic Holdings Inc. raised its holdings in shares of Penguin Solutions by 20.8% in the second quarter. Osaic Holdings Inc. now owns 3,583 shares of the company's stock worth $71,000 after acquiring an additional 617 shares during the last quarter. Covestor Ltd boosted its stake in shares of Penguin Solutions by 4.7% during the fourth quarter. Covestor Ltd now owns 15,535 shares of the company's stock valued at $304,000 after acquiring an additional 695 shares during the last quarter. M&T Bank Corp boosted its stake in shares of Penguin Solutions by 7.0% during the fourth quarter. M&T Bank Corp now owns 10,851 shares of the company's stock valued at $212,000 after acquiring an additional 706 shares during the last quarter. Optimize Financial Inc increased its position in Penguin Solutions by 1.5% during the 4th quarter. Optimize Financial Inc now owns 56,354 shares of the company's stock worth $1,102,000 after purchasing an additional 808 shares in the last quarter. Finally, Farther Finance Advisors LLC increased its position in Penguin Solutions by 187.0% during the 4th quarter. Farther Finance Advisors LLC now owns 1,452 shares of the company's stock worth $28,000 after purchasing an additional 946 shares in the last quarter.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on PENG shares. Needham & Company LLC upped their target price on shares of Penguin Solutions from $60.00 to $80.00 and gave the company a "buy" rating in a report on Wednesday, July 8th. Barclays downgraded shares of Penguin Solutions from an "equal weight" rating to an "underweight" rating and set a $40.00 price target for the company. in a report on Monday, July 20th. Zacks Research raised shares of Penguin Solutions from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, June 30th. Wall Street Zen downgraded shares of Penguin Solutions from a "strong-buy" rating to a "buy" rating in a research note on Sunday, July 26th. Finally, Citizens Jmp raised their target price on shares of Penguin Solutions from $65.00 to $85.00 and gave the stock a "market outperform" rating in a research report on Wednesday, July 8th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $63.33.

Penguin Solutions Trading Down 5.6%

Shares of PENG stock opened at $55.18 on Tuesday. The firm has a market cap of $2.83 billion, a P/E ratio of 39.14 and a beta of 2.87. Penguin Solutions, Inc. has a 1-year low of $16.04 and a 1-year high of $89.86. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.54 and a quick ratio of 1.10. The firm's 50-day simple moving average is $63.18 and its 200-day simple moving average is $39.58.

Penguin Solutions (NASDAQ:PENG - Get Free Report) last released its earnings results on Tuesday, July 7th. The company reported $0.84 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.63 by $0.21. Penguin Solutions had a net margin of 6.44% and a return on equity of 28.23%. The firm had revenue of $478.71 million during the quarter, compared to the consensus estimate of $407.47 million. During the same period in the previous year, the firm earned $0.52 earnings per share. As a group, equities analysts forecast that Penguin Solutions, Inc. will post 2.08 EPS for the current year.

Insider Buying and Selling at Penguin Solutions

In other news, Director Maximiliane C. Straub sold 3,000 shares of the business's stock in a transaction on Thursday, May 14th. The shares were sold at an average price of $49.00, for a total transaction of $147,000.00. Following the completion of the sale, the director directly owned 51,975 shares of the company's stock, valued at $2,546,775. The trade was a 5.46% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Joseph Gates Clark sold 10,351 shares of the business's stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $58.87, for a total value of $609,363.37. Following the sale, the senior vice president directly owned 66,425 shares of the company's stock, valued at approximately $3,910,439.75. This trade represents a 13.48% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 22,678 shares of company stock worth $1,307,946 in the last quarter. 2.90% of the stock is owned by insiders.

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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