Segall Bryant & Hamill LLC trimmed its position in Penguin Solutions, Inc. (NASDAQ:PENG - Free Report) by 24.9% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 156,366 shares of the company's stock after selling 51,761 shares during the quarter. Segall Bryant & Hamill LLC owned 0.31% of Penguin Solutions worth $2,752,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in PENG. William Blair Investment Management LLC bought a new stake in Penguin Solutions in the 4th quarter worth $18,290,000. Maverick Capital Ltd. purchased a new position in shares of Penguin Solutions in the first quarter valued at about $771,000. Fisher Asset Management LLC bought a new position in shares of Penguin Solutions during the fourth quarter valued at about $716,000. State of Alaska Department of Revenue raised its stake in shares of Penguin Solutions by 98.3% during the fourth quarter. State of Alaska Department of Revenue now owns 47,576 shares of the company's stock valued at $930,000 after acquiring an additional 23,582 shares during the last quarter. Finally, M&T Bank Corp raised its stake in shares of Penguin Solutions by 980.0% during the fourth quarter. M&T Bank Corp now owns 109,567 shares of the company's stock valued at $2,143,000 after acquiring an additional 99,422 shares during the last quarter.
Penguin Solutions Trading Up 10.0%
Shares of PENG opened at $57.84 on Wednesday. Penguin Solutions, Inc. has a 1-year low of $16.04 and a 1-year high of $89.86. The company has a current ratio of 1.54, a quick ratio of 1.10 and a debt-to-equity ratio of 0.65. The firm's 50-day moving average price is $63.15 and its 200-day moving average price is $38.55. The firm has a market capitalization of $2.96 billion, a price-to-earnings ratio of 41.02 and a beta of 2.87.
Penguin Solutions (NASDAQ:PENG - Get Free Report) last released its quarterly earnings results on Tuesday, July 7th. The company reported $0.84 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.63 by $0.21. Penguin Solutions had a net margin of 6.44% and a return on equity of 28.23%. The company had revenue of $478.71 million during the quarter, compared to the consensus estimate of $407.47 million. During the same period in the prior year, the firm earned $0.52 earnings per share. Sell-side analysts anticipate that Penguin Solutions, Inc. will post 2.08 EPS for the current year.
Analysts Set New Price Targets
Several analysts recently issued reports on the company. Needham & Company LLC raised their target price on Penguin Solutions from $60.00 to $80.00 and gave the stock a "buy" rating in a research note on Wednesday, July 8th. Weiss Ratings raised Penguin Solutions from a "hold (c-)" rating to a "hold (c)" rating in a research report on Wednesday, July 8th. Zacks Research upgraded Penguin Solutions from a "hold" rating to a "strong-buy" rating in a report on Tuesday, June 30th. Rosenblatt Securities lifted their price objective on Penguin Solutions from $65.00 to $75.00 and gave the stock a "buy" rating in a research report on Monday, July 6th. Finally, Citizens Jmp lifted their price objective on Penguin Solutions from $65.00 to $85.00 and gave the stock a "market outperform" rating in a research report on Wednesday, July 8th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, Penguin Solutions presently has a consensus rating of "Moderate Buy" and a consensus target price of $63.33.
View Our Latest Analysis on PENG
Insider Transactions at Penguin Solutions
In other news, Director Sandeep Nayyar sold 12,893 shares of the stock in a transaction that occurred on Monday, May 11th. The stock was sold at an average price of $45.09, for a total value of $581,345.37. Following the completion of the transaction, the director owned 32,524 shares of the company's stock, valued at approximately $1,466,507.16. This represents a 28.39% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Maximiliane C. Straub sold 8,000 shares of the stock in a transaction that occurred on Monday, May 11th. The stock was sold at an average price of $45.00, for a total value of $360,000.00. Following the completion of the transaction, the director directly owned 58,975 shares of the company's stock, valued at $2,653,875. This represents a 11.94% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 59,678 shares of company stock worth $2,935,614 over the last quarter. Insiders own 2.90% of the company's stock.
Penguin Solutions Profile
(
Free Report)
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.
Further Reading
Want to see what other hedge funds are holding PENG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Penguin Solutions, Inc. (NASDAQ:PENG - Free Report).
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