Segall Bryant & Hamill LLC Purchases New Position in Penguin Solutions, Inc. (NASDAQ:PENG)

Segall Bryant & Hamill LLC bought a new position in shares of Penguin Solutions, Inc. (NASDAQ:PENG - Free Report) during the 1st quarter, according to the company in its most recent filing with the SEC. The fund bought 109,373 shares of the company's stock, valued at approximately $1,900,000. Segall Bryant & Hamill LLC owned 0.20% of Penguin Solutions at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Crews Bank & Trust purchased a new stake in shares of Penguin Solutions during the 1st quarter worth approximately $28,000. CWM LLC purchased a new stake in shares of Penguin Solutions during the 1st quarter worth approximately $39,000. Cambridge Investment Research Advisors Inc. purchased a new stake in shares of Penguin Solutions during the 1st quarter worth approximately $188,000. Oregon Public Employees Retirement Fund purchased a new stake in Penguin Solutions in the 1st quarter valued at approximately $212,000. Finally, New York State Teachers Retirement System purchased a new stake in Penguin Solutions in the 1st quarter valued at approximately $248,000.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the company. Wall Street Zen lowered Penguin Solutions from a "strong-buy" rating to a "buy" rating in a research note on Saturday, July 12th. Rosenblatt Securities reaffirmed a "buy" rating and issued a $27.00 target price on shares of Penguin Solutions in a research note on Thursday, July 3rd. JMP Securities reaffirmed a "market outperform" rating and issued a $26.00 target price on shares of Penguin Solutions in a research note on Wednesday, July 9th. The Goldman Sachs Group upped their target price on Penguin Solutions from $22.50 to $25.00 and gave the company a "buy" rating in a research note on Wednesday, July 9th. Finally, JPMorgan Chase & Co. upped their target price on Penguin Solutions from $21.00 to $24.00 and gave the company a "neutral" rating in a research note on Thursday. One analyst has rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Buy" and a consensus price target of $26.75.

Penguin Solutions Trading Down 1.8%

Shares of Penguin Solutions stock traded down $0.45 during trading hours on Friday, reaching $24.43. 939,252 shares of the company's stock were exchanged, compared to its average volume of 912,928. The firm has a market capitalization of $1.28 billion, a price-to-earnings ratio of -87.25 and a beta of 1.98. 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 fifty day moving average of $20.21 and a 200-day moving average of $19.22. Penguin Solutions, Inc. has a 52-week low of $14.20 and a 52-week high of $25.94.

Penguin Solutions (NASDAQ:PENG - Get Free Report) last released its quarterly earnings data on Tuesday, July 8th. The company reported $0.47 EPS for the quarter, topping analysts' consensus estimates of $0.30 by $0.17. The business had revenue of $324,251 billion during the quarter, compared to the consensus estimate of $330.82 million. Penguin Solutions had a positive return on equity of 13.27% and a negative net margin of 0.68%. Sell-side analysts forecast that Penguin Solutions, Inc. will post 1.05 EPS for the current fiscal year.

Insider Activity at Penguin Solutions

In other news, Director Penny Herscher sold 2,046 shares of the company's stock in a transaction on Tuesday, July 15th. The stock was 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 in the company, valued at $463,203.24. This represents a 10.09% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. 2.60% of the stock is currently owned by insiders.

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.