Shares of Penguin Solutions, Inc. (NASDAQ:PENG – Get Free Report) dropped 8.5% on Thursday. The stock traded as low as $58.90 and last traded at $61.86. 6,850,390 shares were traded during trading, an increase of 168% from the average daily volume of 2,555,532 shares. The stock had previously closed at $67.59.
Wall Street Analyst Weigh In
A number of research firms have issued reports on PENG. Stifel Nicolaus boosted their target price on Penguin Solutions from $75.00 to $85.00 and gave the company a “buy” rating in a research note on Wednesday, October 7th. The Goldman Sachs Group reiterated a “buy” rating and set a $85.00 price objective on shares of Penguin Solutions in a report on Wednesday, October 7th. Needham & Company LLC boosted their price objective on Penguin Solutions from $80.00 to $85.00 and gave the company a “buy” rating in a research report on Wednesday, October 7th. Deutsche Bank Aktiengesellschaft set a $100.00 price objective on Penguin Solutions in a research report on Friday, October 9th. Finally, Citizens Jmp increased their target price on Penguin Solutions from $65.00 to $85.00 and gave the stock a “market outperform” rating in a research note on Wednesday, July 8th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $87.50.
View Our Latest Stock Report on Penguin Solutions
Penguin Solutions Price Performance
The stock has a market cap of $2.93 billion, a P/E ratio of 22.05, a PEG ratio of 0.73 and a beta of 2.86. The company has a 50 day simple moving average of $56.43 and a 200 day simple moving average of $52.31. The company has a current ratio of 1.88, a quick ratio of 1.25 and a debt-to-equity ratio of 1.37.
Penguin Solutions (NASDAQ:PENG – Get Free Report) last released its quarterly earnings results on Tuesday, October 6th. The company reported $1.00 earnings per share for the quarter, topping analysts’ consensus estimates of $0.77 by $0.23. The firm had revenue of $566.68 million during the quarter, compared to the consensus estimate of $520.99 million. Penguin Solutions had a return on equity of 36.71% and a net margin of 10.43%. During the same quarter in the prior year, the firm posted $0.11 EPS. Penguin Solutions has set its FY 2027 guidance at 3.750-5.15 EPS. Sell-side analysts forecast that Penguin Solutions, Inc. will post 4.05 earnings per share for the current fiscal year.
Insiders Place Their Bets
In related news, SVP Joseph Clark sold 1,327 shares of the stock in a transaction on Thursday, July 23rd. The shares were sold at an average price of $57.47, for a total transaction of $76,262.69. Following the completion of the transaction, the senior vice president owned 63,056 shares in the company, valued at approximately $3,623,828.32. This represents a 2.06% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Anne Kuykendall sold 4,000 shares of the firm’s stock in a transaction on Monday, August 24th. The shares were sold at an average price of $50.58, for a total transaction of $202,320.00. Following the completion of the transaction, the senior vice president directly owned 112,994 shares of the company’s stock, valued at approximately $5,715,236.52. This trade represents a 3.42% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 2.90% of the company’s stock.
Hedge Funds Weigh In On Penguin Solutions
A number of large investors have recently modified their holdings of the business. Maverick Capital Ltd. acquired a new stake in shares of Penguin Solutions in the first quarter valued at about $771,000. California State Teachers Retirement System raised its holdings in Penguin Solutions by 52.8% during the first quarter. California State Teachers Retirement System now owns 74,580 shares of the company’s stock worth $1,313,000 after acquiring an additional 25,763 shares in the last quarter. Pacer Advisors Inc. boosted its position in Penguin Solutions by 34.0% during the first quarter. Pacer Advisors Inc. now owns 261,776 shares of the company’s stock valued at $4,607,000 after purchasing an additional 66,460 shares during the last quarter. First Trust Advisors LP boosted its position in Penguin Solutions by 241.3% during the first quarter. First Trust Advisors LP now owns 49,067 shares of the company’s stock valued at $864,000 after purchasing an additional 34,691 shares during the last quarter. Finally, Bank of America Corp DE acquired a new position in Penguin Solutions during the second quarter valued at approximately $8,777,000.
About Penguin Solutions
Penguin Solutions, Inc provides intelligent infrastructure solutions for artificial intelligence, high-performance computing, enterprise data centers and other demanding technology environments. The company combines specialized hardware, software and professional services to help organizations design, deploy and manage complex computing infrastructure.
Its offerings include AI and high-performance computing systems, servers, storage and networking infrastructure, as well as software and services for infrastructure management, optimization and support.
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