Penguin Solutions, Inc. (NASDAQ:PENG – Get Free Report)’s share price reached a new 52-week high on Monday . The company traded as high as $46.75 and last traded at $44.6950, with a volume of 478948 shares trading hands. The stock had previously closed at $44.23.
Analyst Ratings Changes
A number of research firms have recently weighed in on PENG. Weiss Ratings raised shares of Penguin Solutions from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Monday, April 6th. Wall Street Zen downgraded shares of Penguin Solutions from a “buy” rating to a “hold” rating in a research report on Saturday. Rosenblatt Securities reissued a “buy” rating and set a $30.00 target price on shares of Penguin Solutions in a research report on Monday, March 30th. The Goldman Sachs Group began coverage on shares of Penguin Solutions in a research report on Tuesday, January 13th. They set a “buy” rating and a $25.00 target price for the company. Finally, Barclays downgraded shares of Penguin Solutions from an “overweight” rating to an “equal weight” rating and increased their target price for the company from $23.00 to $27.00 in a research report on Wednesday, April 22nd. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $27.25.
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Penguin Solutions Stock Performance
Penguin Solutions (NASDAQ:PENG – Get Free Report) last released its quarterly earnings data on Wednesday, April 1st. The company reported $0.52 EPS for the quarter, topping the consensus estimate of $0.43 by $0.09. The company had revenue of $343.00 million during the quarter, compared to the consensus estimate of $339.00 million. Penguin Solutions had a net margin of 4.07% and a return on equity of 19.94%. As a group, equities analysts anticipate that Penguin Solutions, Inc. will post 1.66 earnings per share for the current year.
Insider Activity at Penguin Solutions
In related news, SVP Joseph Gates Clark sold 12,546 shares of the firm’s stock in a transaction that occurred on Thursday, April 9th. The shares were sold at an average price of $22.55, for a total value of $282,912.30. Following the completion of the transaction, the senior vice president directly owned 99,726 shares of the company’s stock, valued at approximately $2,248,821.30. This trade represents a 11.17% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible 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, March 16th. The shares were sold at an average price of $17.75, for a total transaction of $71,000.00. Following the completion of the transaction, the senior vice president directly owned 131,352 shares of the company’s stock, valued at approximately $2,331,498. The trade was a 2.96% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 33,769 shares of company stock valued at $898,333. 2.90% of the stock is owned by insiders.
Institutional Inflows and Outflows
Several large investors have recently bought and sold shares of PENG. Dimensional Fund Advisors LP bought a new position in Penguin Solutions in the 3rd quarter valued at $60,264,000. Invesco Ltd. boosted its holdings in Penguin Solutions by 596.8% in the 4th quarter. Invesco Ltd. now owns 1,992,415 shares of the company’s stock valued at $38,972,000 after purchasing an additional 1,706,482 shares during the period. William Blair Investment Management LLC bought a new position in Penguin Solutions in the 4th quarter valued at $18,290,000. Ophir Asset Management Pty Ltd boosted its holdings in Penguin Solutions by 234.3% in the 4th quarter. Ophir Asset Management Pty Ltd now owns 1,211,612 shares of the company’s stock valued at $23,699,000 after purchasing an additional 849,178 shares during the period. Finally, ArrowMark Colorado Holdings LLC bought a new position in Penguin Solutions in the 3rd quarter valued at $15,789,000.
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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