Penguin Solutions, Inc. (NASDAQ:PENG) Director Penny Herscher Sells 682 Shares

Penguin Solutions, Inc. (NASDAQ:PENG - Get Free Report) Director Penny Herscher sold 682 shares of the firm's stock in a transaction dated Thursday, July 17th. The shares were sold at an average price of $25.00, for a total transaction of $17,050.00. Following the completion of the transaction, the director directly owned 17,540 shares in the company, valued at $438,500. This represents a 3.74% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link.

Penny Herscher also recently made the following trade(s):

• On Tuesday, July 15th, Penny Herscher sold 2,046 shares of Penguin Solutions stock. The shares were sold at an average price of $25.42, for a total transaction of $52,009.32.

Penguin Solutions Stock Up 3.0%

Shares of PENG traded up $0.72 during mid-day trading on Monday, reaching $25.15. The company's stock had a trading volume of 308,531 shares, compared to its average volume of 909,941. Penguin Solutions, Inc. has a 12-month low of $14.20 and a 12-month high of $25.94. The stock has a market cap of $1.32 billion, a PE ratio of -89.60 and a beta of 1.98. The company has a debt-to-equity ratio of 1.08, a current ratio of 2.62 and a quick ratio of 2.24. The company's 50 day moving average is $20.21 and its 200 day moving average is $19.22.

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, beating analysts' consensus estimates of $0.30 by $0.17. Penguin Solutions had a positive return on equity of 13.27% and a negative net margin of 0.68%. The business had revenue of $324,251 billion for the quarter, compared to the consensus estimate of $330.82 million. Equities analysts anticipate that Penguin Solutions, Inc. will post 1.05 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. Wall Street Zen downgraded shares of Penguin Solutions from a "strong-buy" rating to a "buy" rating in a research note on Saturday, July 12th. JPMorgan Chase & Co. lifted their target price on shares of Penguin Solutions from $21.00 to $24.00 and gave the stock a "neutral" rating in a research note on Thursday. Loop Capital set a $35.00 target price on shares of Penguin Solutions and gave the stock a "buy" rating in a research note on Monday, July 14th. Rosenblatt Securities reaffirmed a "buy" rating and set a $27.00 target price on shares of Penguin Solutions in a research note on Thursday, July 3rd. Finally, Needham & Company LLC reaffirmed a "buy" rating and set a $27.00 target price on shares of Penguin Solutions in a research note on Wednesday, July 9th. One research analyst has rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Penguin Solutions currently has a consensus rating of "Buy" and a consensus price target of $26.75.

Institutional Trading of Penguin Solutions

Institutional investors and hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. purchased a new position in shares of Penguin Solutions in the 1st quarter valued at approximately $111,458,000. Alliancebernstein L.P. purchased a new position in Penguin Solutions during the first quarter worth about $28,919,000. Paradigm Capital Management Inc. NY purchased a new position in Penguin Solutions during the first quarter worth about $19,545,000. Think Investments LP purchased a new position in Penguin Solutions during the first quarter worth about $15,713,000. Finally, Charles Schwab Investment Management Inc. purchased a new position in Penguin Solutions during the first quarter worth about $14,786,000.

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.