Robeco Institutional Asset Management B.V. Makes New Investment in Penguin Solutions, Inc. $PENG

Robeco Institutional Asset Management B.V. purchased a new position in Penguin Solutions, Inc. (NASDAQ:PENG - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 56,631 shares of the company's stock, valued at approximately $1,122,000. Robeco Institutional Asset Management B.V. owned approximately 0.11% of Penguin Solutions as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also added to or reduced their stakes in the business. Vanguard Group Inc. acquired a new stake in Penguin Solutions in the first quarter worth about $111,458,000. Alliancebernstein L.P. acquired a new stake in Penguin Solutions in the first quarter worth about $28,919,000. Paradigm Capital Management Inc. NY acquired a new stake in Penguin Solutions in the first quarter worth about $19,545,000. Think Investments LP acquired a new stake in Penguin Solutions in the first quarter worth about $15,713,000. Finally, Charles Schwab Investment Management Inc. acquired a new stake in Penguin Solutions in the first quarter worth about $14,786,000.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on PENG. The Goldman Sachs Group lifted their target price on Penguin Solutions from $22.50 to $25.00 and gave the stock a "buy" rating in a report on Wednesday, July 9th. JPMorgan Chase & Co. lifted their target price on Penguin Solutions from $21.00 to $24.00 and gave the stock a "neutral" rating in a report on Thursday, July 17th. Zacks Research downgraded Penguin Solutions from a "strong-buy" rating to a "hold" rating in a report on Monday, September 8th. Needham & Company LLC lifted their target price on Penguin Solutions from $27.00 to $30.00 and gave the stock a "buy" rating in a report on Tuesday, July 22nd. Finally, JMP Securities reaffirmed a "market outperform" rating and set a $26.00 target price on shares of Penguin Solutions in a report on Wednesday, July 9th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Penguin Solutions currently has a consensus rating of "Moderate Buy" and an average price target of $28.75.

Insider Buying and Selling

In other Penguin Solutions news, EVP Jack A. Pacheco sold 63,447 shares of the business's stock in a transaction that occurred on Monday, July 21st. The stock was sold at an average price of $24.83, for a total value of $1,575,389.01. Following the completion of the transaction, the executive vice president directly owned 227,231 shares of the company's stock, valued at approximately $5,642,145.73. The trade was a 21.83% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Penny Herscher sold 2,046 shares of the business's stock in a transaction that occurred 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 sale, the director owned 18,222 shares of the company's stock, valued at $463,203.24. This trade represents a 10.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 66,175 shares of company stock valued at $1,644,448 over the last three months. 2.60% of the stock is currently owned by corporate insiders.

Penguin Solutions Trading Down 7.8%

Shares of NASDAQ:PENG opened at $27.00 on Wednesday. Penguin Solutions, Inc. has a 12-month low of $14.20 and a 12-month high of $29.80. The company has a market capitalization of $1.41 billion, a PE ratio of -96.43 and a beta of 2.20. The business has a 50 day moving average of $25.13 and a two-hundred day moving average of $21.30. 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 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 company had revenue of $324.25 million during the quarter, compared to the consensus estimate of $330.82 million. As a group, analysts forecast that Penguin Solutions, Inc. will post 1.05 EPS for the current 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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