Royce & Associates LP Sells 82,134 Shares of Penguin Solutions, Inc. $PENG

Key Points

• Royce & Associates LP trimmed its Penguin Solutions stake by 9.0% in the fourth quarter, selling 82,134 shares and ending with 827,326 shares valued at about $16.2 million.
• Insider selling has continued, including Director Sandeep Nayyar and SVP Joseph Gates Clark, with company insiders selling 68,769 shares over the last quarter.
• Penguin Solutions beat expectations in its latest earnings report, posting $0.52 EPS on $343 million in revenue, while analysts currently hold a Moderate Buy consensus with a $27.25 target price.

Royce & Associates LP reduced its position in Penguin Solutions, Inc. (NASDAQ:PENG - Free Report) by 9.0% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 827,326 shares of the company's stock after selling 82,134 shares during the period. Royce & Associates LP owned 1.57% of Penguin Solutions worth $16,182,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of PENG. Farther Finance Advisors LLC boosted its holdings in shares of Penguin Solutions by 187.0% in the 4th quarter. Farther Finance Advisors LLC now owns 1,452 shares of the company's stock valued at $28,000 after buying an additional 946 shares in the last quarter. Raymond James Financial Inc. bought a new stake in shares of Penguin Solutions in the 2nd quarter valued at about $37,000. Strs Ohio bought a new stake in shares of Penguin Solutions in the 3rd quarter valued at about $42,000. Jones Financial Companies Lllp boosted its holdings in shares of Penguin Solutions by 4,131.7% in the 3rd quarter. Jones Financial Companies Lllp now owns 1,735 shares of the company's stock valued at $45,000 after buying an additional 1,694 shares in the last quarter. Finally, Allworth Financial LP boosted its holdings in shares of Penguin Solutions by 41.4% in the 3rd quarter. Allworth Financial LP now owns 1,792 shares of the company's stock valued at $47,000 after buying an additional 525 shares in the last quarter.

Insider Buying and Selling at Penguin Solutions

In other Penguin Solutions news, Director Sandeep Nayyar sold 12,893 shares of the firm's stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $45.09, for a total transaction of $581,345.37. Following the completion of the transaction, the director directly owned 32,524 shares of the company's stock, valued at approximately $1,466,507.16. This trade represents a 28.39% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Joseph Gates Clark sold 12,546 shares of the firm's stock in a transaction that occurred on Thursday, April 9th. The stock was sold at an average price of $22.55, for a total transaction of $282,912.30. Following the transaction, the senior vice president directly owned 99,726 shares of the company's stock, valued at $2,248,821.30. This represents a 11.17% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 68,769 shares of company stock valued at $2,473,051. 2.90% of the stock is owned by corporate insiders.

Penguin Solutions Stock Up 3.3%

PENG stock opened at $54.95 on Wednesday. The firm has a 50 day moving average of $30.14 and a 200 day moving average of $23.40. The stock has a market capitalization of $2.79 billion, a PE ratio of 76.32 and a beta of 2.66. The company has a quick ratio of 1.55, a current ratio of 2.10 and a debt-to-equity ratio of 1.09. Penguin Solutions, Inc. has a 52 week low of $16.04 and a 52 week high of $55.65.

Penguin Solutions (NASDAQ:PENG - Get Free Report) last released its earnings results on Wednesday, April 1st. The company reported $0.52 EPS for the quarter, topping analysts' consensus estimates of $0.43 by $0.09. The company had revenue of $343.00 million during the quarter, compared to analysts' expectations of $339.00 million. Penguin Solutions had a net margin of 4.07% and a return on equity of 19.94%. Sell-side analysts forecast that Penguin Solutions, Inc. will post 1.66 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on PENG. Rosenblatt Securities restated a "buy" rating and issued a $30.00 price target on shares of Penguin Solutions in a report on Monday, March 30th. Needham & Company LLC raised their price target on shares of Penguin Solutions from $25.00 to $27.00 and gave the company a "buy" rating in a report on Thursday, April 2nd. Zacks Research upgraded shares of Penguin Solutions from a "hold" rating to a "strong-buy" rating in a report on Tuesday, April 7th. Barclays cut shares of Penguin Solutions from an "overweight" rating to an "equal weight" rating and raised their price target for the company from $23.00 to $27.00 in a report on Wednesday, April 22nd. Finally, Weiss Ratings cut shares of Penguin Solutions from a "hold (c)" rating to a "hold (c-)" rating in a research note on Wednesday, May 13th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and three have issued a Hold rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $27.25.

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.

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