Public Sector Pension Investment Board Makes New $2.94 Million Investment in Penguin Solutions, Inc. $PENG

Key Points

• The Public Sector Pension Investment Board acquired approximately $2.93 million worth of shares in Penguin Solutions, Inc., marking a new position in the company.
• Several other hedge funds also invested in Penguin Solutions during the first quarter, with notable purchases including Principal Financial Group's $4.61 million stake.
• Analysts have increased their price targets for Penguin Solutions, with Loop Capital now setting a target of $35.00 and Needham raising theirs to $30.00, both affirming "buy" ratings.

Public Sector Pension Investment Board bought a new stake in shares of Penguin Solutions, Inc. (NASDAQ:PENG - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 168,969 shares of the company's stock, valued at approximately $2,935,000. Public Sector Pension Investment Board owned about 0.32% of Penguin Solutions at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in PENG. Crews Bank & Trust acquired a new stake in Penguin Solutions in the first quarter worth $28,000. IFP Advisors Inc bought a new position in shares of Penguin Solutions during the first quarter worth about $39,000. CWM LLC acquired a new stake in shares of Penguin Solutions in the 1st quarter worth about $39,000. PNC Financial Services Group Inc. bought a new stake in Penguin Solutions in the 1st quarter valued at about $62,000. Finally, KLP Kapitalforvaltning AS acquired a new position in Penguin Solutions during the 1st quarter valued at about $167,000.

Penguin Solutions Price Performance

Shares of NASDAQ PENG traded up $0.70 during midday trading on Friday, reaching $24.35. The company's stock had a trading volume of 574,341 shares, compared to its average volume of 868,484. The company has a current ratio of 2.62, a quick ratio of 2.24 and a debt-to-equity ratio of 1.08. The company has a 50 day moving average price of $22.77 and a 200 day moving average price of $19.92. Penguin Solutions, Inc. has a one year low of $14.20 and a one year high of $25.94. The company has a market cap of $1.28 billion, a price-to-earnings ratio of 20.21 and a beta of 2.02.

Penguin Solutions (NASDAQ:PENG - Get Free Report) last issued its earnings results on Tuesday, July 8th. The company reported $0.47 earnings per share for the quarter, topping analysts' consensus estimates 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 firm had revenue of $324,251 billion 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. On average, equities research analysts expect that Penguin Solutions, Inc. will post 1.05 EPS for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have commented on PENG shares. Needham & Company LLC raised their price target on shares of Penguin Solutions from $27.00 to $30.00 and gave the company a "buy" rating in a research note on Tuesday, July 22nd. JMP Securities reaffirmed a "market outperform" rating and set a $26.00 target price on shares of Penguin Solutions in a research note on Wednesday, July 9th. Rosenblatt Securities reissued a "buy" rating and issued a $27.00 price target on shares of Penguin Solutions in a research note on Monday, August 11th. The Goldman Sachs Group lifted their price objective on shares of Penguin Solutions from $22.50 to $25.00 and gave the company a "buy" rating in a research note on Wednesday, July 9th. Finally, Wall Street Zen downgraded shares of Penguin Solutions from a "strong-buy" rating to a "buy" rating in a report on Saturday, July 12th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and one has issued a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Buy" and an average price target of $27.13.

Insider Activity

In other Penguin Solutions news, Director Penny Herscher sold 2,046 shares of the company's stock in a transaction dated Tuesday, July 15th. The shares were sold at an average price of $25.42, for a total transaction of $52,009.32. Following the completion of 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 filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Jack A. Pacheco sold 63,447 shares of the business's stock in a transaction on 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 sale, the executive vice president directly owned 227,231 shares in the company, valued at approximately $5,642,145.73. This trade represents a 21.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 66,175 shares of company stock worth $1,644,448. Corporate 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.