Penguin Solutions, Inc. $PENG Shares Sold by UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC

Key Points

• UBS Asset Management cut its Penguin Solutions stake by 44.1% in the second quarter, selling 109,816 shares and retaining 139,266 shares valued at approximately $10.6 million.
• Analyst sentiment remains broadly positive, with a consensus “Moderate Buy” rating and an average price target of $63.33, although Barclays downgraded the stock to “underweight” with a $40 target.
• Penguin Solutions reported quarterly earnings of $0.84 per share and revenue of $478.7 million, beating consensus estimates of $0.63 EPS and $407.5 million in revenue.

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lessened its holdings in Penguin Solutions, Inc. (NASDAQ:PENG - Free Report) by 44.1% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 139,266 shares of the company's stock after selling 109,816 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned about 0.27% of Penguin Solutions worth $10,586,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. William Blair Investment Management LLC purchased a new stake in shares of Penguin Solutions during the fourth quarter worth about $18,290,000. Maverick Capital Ltd. acquired a new stake in shares of Penguin Solutions in the first quarter valued at approximately $771,000. California State Teachers Retirement System increased its stake in shares of Penguin Solutions by 52.8% in the 1st quarter. California State Teachers Retirement System now owns 74,580 shares of the company's stock worth $1,313,000 after acquiring an additional 25,763 shares during the last quarter. Fisher Asset Management LLC acquired a new stake in Penguin Solutions during the fourth quarter worth about $716,000. Finally, Pacer Advisors Inc. raised its position in shares of Penguin Solutions by 34.0% during the 1st quarter. Pacer Advisors Inc. now owns 261,776 shares of the company's stock valued at $4,607,000 after buying an additional 66,460 shares during the period.

Analyst Ratings Changes

PENG has been the topic of several research analyst reports. Stifel Nicolaus boosted their price objective on shares of Penguin Solutions from $66.00 to $75.00 and gave the company a "buy" rating in a report on Wednesday, July 8th. Wall Street Zen lowered Penguin Solutions from a "strong-buy" rating to a "buy" rating in a report on Sunday, July 26th. Barclays cut 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 upgraded Penguin Solutions from a "hold" rating to a "strong-buy" rating in a report on Tuesday, June 30th. Finally, Weiss Ratings raised Penguin Solutions from a "hold (c-)" rating to a "hold (c)" rating in a report on Wednesday, July 8th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, Penguin Solutions has a consensus rating of "Moderate Buy" and a consensus price target of $63.33.

Insider Buying and Selling at Penguin Solutions

In related news, SVP Anne Kuykendall sold 4,000 shares of the stock in a transaction on Monday, August 24th. The stock was sold at an average price of $50.58, for a total value of $202,320.00. Following the transaction, the senior vice president directly owned 112,994 shares of the company's stock, valued at approximately $5,715,236.52. This trade represents a 3.42% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Joseph Clark sold 1,327 shares of Penguin Solutions stock in a transaction dated Thursday, July 23rd. The shares were sold at an average price of $57.47, for a total value of $76,262.69. Following the completion of the transaction, the senior vice president directly owned 63,056 shares in the company, valued at $3,623,828.32. This represents a 2.06% decrease in their ownership of the stock. 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 9,327 shares of company stock valued at $536,103 over the last three months. Corporate insiders own 2.90% of the company's stock.

Penguin Solutions Stock Performance

NASDAQ:PENG opened at $51.76 on Monday. Penguin Solutions, Inc. has a fifty-two week low of $16.04 and a fifty-two week high of $89.86. The stock has a market cap of $2.65 billion, a PE ratio of 36.71 and a beta of 2.86. The firm's fifty day simple moving average is $58.88 and its 200-day simple moving average is $44.18. The company has a quick ratio of 1.10, a current ratio of 1.54 and a debt-to-equity ratio of 0.65.

Penguin Solutions (NASDAQ:PENG - Get Free Report) last issued its quarterly earnings data on Tuesday, July 7th. The company reported $0.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.63 by $0.21. Penguin Solutions had a return on equity of 28.23% and a net margin of 6.44%.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 posted $0.52 EPS. Analysts expect that Penguin Solutions, Inc. will post 2.08 earnings per share for the current fiscal year.

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.

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