South Dakota Investment Council Invests $1.14 Million in Penguin Solutions, Inc. (NASDAQ:PENG)

South Dakota Investment Council acquired a new position in Penguin Solutions, Inc. (NASDAQ:PENG - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 65,792 shares of the company's stock, valued at approximately $1,143,000. South Dakota Investment Council owned about 0.12% of Penguin Solutions at the end of the most recent reporting period.

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

Insider Buying and Selling at Penguin Solutions

In other Penguin Solutions news, Director Penny Herscher sold 2,046 shares of the firm's 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 $463,203.24. This trade represents a 10.09% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Jack A. Pacheco sold 63,447 shares of the firm's stock in a transaction on 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 sale, the executive vice president directly owned 227,231 shares in the company, valued at approximately $5,642,145.73. This trade represents a 21.83% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 66,175 shares of company stock worth $1,644,448. 2.60% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. Wall Street Zen lowered shares of Penguin Solutions from a "strong-buy" rating to a "buy" rating in a research report on Saturday, July 12th. The Goldman Sachs Group raised their target price on shares of Penguin Solutions from $22.50 to $25.00 and gave the company a "buy" rating in a research report on Wednesday, July 9th. JPMorgan Chase & Co. raised their price target on shares of Penguin Solutions from $21.00 to $24.00 and gave the company a "neutral" rating in a research note on Thursday, July 17th. Needham & Company LLC raised their price target on shares of Penguin Solutions from $27.00 to $30.00 and gave the company a "buy" rating in a research note on Tuesday. Finally, JMP Securities reaffirmed a "market outperform" rating and set a $26.00 price target on shares of Penguin Solutions in a research note on Wednesday, July 9th. One investment 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. Based on data from MarketBeat, Penguin Solutions currently has a consensus rating of "Buy" and a consensus price target of $27.13.

Penguin Solutions Price Performance

Penguin Solutions stock traded down $0.27 during midday trading on Thursday, reaching $24.64. 291,696 shares of the stock were exchanged, compared to its average volume of 872,695. The company's fifty day moving average is $20.53 and its 200-day moving average is $19.33. The company has a debt-to-equity ratio of 1.08, a quick ratio of 2.24 and a current ratio of 2.62. The firm has a market cap of $1.29 billion, a PE ratio of -87.64 and a beta of 1.98. 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 posted its earnings results on Tuesday, July 8th. The company reported $0.47 earnings per share for the quarter, topping analysts' consensus estimates of $0.30 by $0.17. Penguin Solutions had a negative net margin of 0.68% and a positive return on equity of 13.27%. The business had revenue of $324,251 billion for the quarter, compared to analyst estimates of $330.82 million. On average, sell-side 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.