Segall Bryant & Hamill LLC Takes $1.90 Million Position in Penguin Solutions, Inc. (NASDAQ:PENG)

Segall Bryant & Hamill LLC purchased a new position in Penguin Solutions, Inc. (NASDAQ:PENG - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 109,373 shares of the company's stock, valued at approximately $1,900,000. Segall Bryant & Hamill LLC owned approximately 0.20% of Penguin Solutions at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Crews Bank & Trust purchased a new stake in shares of Penguin Solutions in the 1st quarter valued at $28,000. CWM LLC bought a new stake in Penguin Solutions during the 1st quarter valued at $39,000. Cambridge Investment Research Advisors Inc. bought a new stake in Penguin Solutions during the 1st quarter valued at $188,000. Oregon Public Employees Retirement Fund bought a new stake in Penguin Solutions during the 1st quarter valued at $212,000. Finally, New York State Teachers Retirement System bought a new stake in Penguin Solutions during the 1st quarter valued at $248,000.

Wall Street Analysts Forecast Growth

PENG has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. upped their price target on shares of Penguin Solutions from $21.00 to $24.00 and gave the company a "neutral" rating in a report on Thursday, July 17th. Wall Street Zen downgraded Penguin Solutions from a "strong-buy" rating to a "buy" rating in a report on Saturday, July 12th. Rosenblatt Securities restated a "buy" rating and set a $27.00 target price on shares of Penguin Solutions in a report on Thursday, July 3rd. Loop Capital set a $35.00 price objective on shares of Penguin Solutions and gave the stock a "buy" rating in a report on Monday, July 14th. Finally, The Goldman Sachs Group upped their price objective on shares of Penguin Solutions from $22.50 to $25.00 and gave the stock a "buy" rating in a report on Wednesday, July 9th. One equities research analyst has rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Penguin Solutions has an average rating of "Buy" and a consensus target price of $27.13.

Penguin Solutions Stock Up 1.8%

NASDAQ:PENG traded up $0.45 on Wednesday, reaching $24.90. 1,286,624 shares of the stock traded hands, compared to its average volume of 915,412. The company has a market capitalization of $1.30 billion, a price-to-earnings ratio of -88.93 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. Penguin Solutions, Inc. has a 12 month low of $14.20 and a 12 month high of $25.94. The company's fifty day simple moving average is $20.53 and its 200 day simple moving average is $19.33.

Penguin Solutions (NASDAQ:PENG - Get Free Report) last posted its earnings results on Tuesday, July 8th. The company reported $0.47 earnings per share for the quarter, beating analysts' consensus estimates of $0.30 by $0.17. The company had revenue of $324,251 billion for 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%. Equities analysts predict that Penguin Solutions, Inc. will post 1.05 EPS for the current fiscal year.

Insider Buying and Selling at Penguin Solutions

In other news, Director Penny Herscher sold 2,046 shares of the stock in a transaction 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 sale, the director 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 sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Jack A. Pacheco sold 63,447 shares of the company's stock in a transaction dated Monday, July 21st. The stock was sold at an average price of $24.83, for a total transaction of $1,575,389.01. Following the completion of the transaction, the executive vice president owned 227,231 shares in the company, valued at approximately $5,642,145.73. The trade was a 21.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 66,175 shares of company stock worth $1,644,448 in the last three months. Insiders own 2.60% of the company's stock.

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.