Penguin Solutions, Inc. (NASDAQ:PENG) Director Penny Herscher Sells 2,046 Shares

Penguin Solutions, Inc. (NASDAQ:PENG - Get Free Report) 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 transaction, the director directly owned 18,222 shares of the company's stock, valued at approximately $463,203.24. The trade was a 10.09% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.

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

• On Thursday, July 17th, Penny Herscher sold 682 shares of Penguin Solutions stock. The stock was sold at an average price of $25.00, for a total transaction of $17,050.00.

Penguin Solutions Trading Up 1.0%

NASDAQ PENG traded up $0.25 during mid-day trading on Thursday, reaching $24.88. 988,619 shares of the stock were exchanged, compared to its average volume of 912,785. Penguin Solutions, Inc. has a one year low of $14.20 and a one year high of $25.94. The stock has a 50 day simple moving average of $20.07 and a 200-day simple moving average of $19.18. The stock has a market cap of $1.30 billion, a P/E ratio of -88.85 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.

Penguin Solutions (NASDAQ:PENG - Get Free Report) last posted its quarterly earnings results on Tuesday, July 8th. The company reported $0.47 earnings per share for the quarter, beating the consensus estimate 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 firm had revenue of $324,251 billion during the quarter, compared to the consensus estimate of $330.82 million. On average, analysts anticipate that Penguin Solutions, Inc. will post 1.05 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on PENG shares. Rosenblatt Securities reissued a "buy" rating and set a $27.00 price target on shares of Penguin Solutions in a research report on Thursday, July 3rd. Needham & Company LLC reaffirmed a "buy" rating and issued a $27.00 target price on shares of Penguin Solutions in a report on Wednesday, July 9th. The Goldman Sachs Group upped their target price on shares of Penguin Solutions from $22.50 to $25.00 and gave the company a "buy" rating in a report on Wednesday, July 9th. JMP Securities reaffirmed a "market outperform" rating and issued a $26.00 target price on shares of Penguin Solutions in a report on Wednesday, July 9th. Finally, Wall Street Zen cut shares of Penguin Solutions from a "strong-buy" rating to a "buy" rating in a report on Saturday, July 12th. One investment analyst has rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Penguin Solutions has a consensus rating of "Buy" and a consensus price target of $26.75.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in PENG. New York State Teachers Retirement System bought a new stake in Penguin Solutions in the first quarter worth about $248,000. Allspring Global Investments Holdings LLC bought a new stake in shares of Penguin Solutions in the first quarter valued at approximately $779,000. Cambridge Investment Research Advisors Inc. bought a new stake in shares of Penguin Solutions in the first quarter valued at approximately $188,000. Amalgamated Bank bought a new stake in shares of Penguin Solutions in the first quarter valued at approximately $264,000. Finally, Peregrine Capital Management LLC bought a new stake in Penguin Solutions during the 1st quarter worth approximately $4,616,000.

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.

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