Charles Schwab Investment Management Inc. Purchases New Position in Penguin Solutions, Inc. $PENG

Charles Schwab Investment Management Inc. acquired a new stake in shares of Penguin Solutions, Inc. (NASDAQ:PENG) during the 1st quarter, according to its most recent 13F filing with the SEC. The firm acquired 851,228 shares of the company’s stock, valued at approximately $14,786,000. Charles Schwab Investment Management Inc. owned approximately 1.61% of Penguin Solutions at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in PENG. Vanguard Group Inc. bought a new position in shares of Penguin Solutions during the 1st quarter worth approximately $111,458,000. Royce & Associates LP bought a new stake in shares of Penguin Solutions during the 1st quarter worth $14,020,000. Foundry Partners LLC bought a new stake in shares of Penguin Solutions during the 1st quarter worth $11,989,000. P.A.W. Capital Corp bought a new stake in Penguin Solutions in the first quarter worth about $7,816,000. Finally, Bank of New York Mellon Corp bought a new stake in Penguin Solutions in the first quarter worth about $5,959,000.

Penguin Solutions Trading Up 3.0%

Penguin Solutions stock opened at $24.35 on Friday. The stock has a market cap of $1.28 billion, a P/E ratio of -86.96 and a beta of 2.02. 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’s fifty day moving average price is $22.77 and its 200-day moving average price is $19.92. Penguin Solutions, Inc. has a fifty-two week low of $14.20 and a fifty-two week high of $25.94.

Penguin Solutions (NASDAQ:PENG) last announced 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. The business had revenue of $324,251 billion for the quarter, compared to analyst estimates of $330.82 million. Penguin Solutions had a positive return on equity of 13.27% and a negative net margin of 0.68%. Penguin Solutions has set its FY 2025 guidance at 1.750-1.850 EPS. Equities research analysts forecast that Penguin Solutions, Inc. will post 1.05 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, EVP Jack A. Pacheco sold 63,447 shares of the stock in a transaction dated 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 transaction, the executive vice president directly owned 227,231 shares in the company, valued at approximately $5,642,145.73. This represents a 21.83% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Penny Herscher sold 2,046 shares of the stock in a transaction on Tuesday, July 15th. The shares were sold at an average price of $25.42, for a total transaction of $52,009.32. Following the transaction, the director directly owned 18,222 shares in the company, valued at approximately $463,203.24. This represents a 10.09% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 66,175 shares of company stock worth $1,644,448. 2.60% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several analysts have issued reports on PENG shares. Needham & Company LLC boosted their target price on Penguin Solutions from $27.00 to $30.00 and gave the company a “buy” rating in a research note on Tuesday, July 22nd. JPMorgan Chase & Co. boosted their price objective on Penguin Solutions from $21.00 to $24.00 and gave the company a “neutral” rating in a research note on Thursday, July 17th. Loop Capital boosted their price objective on Penguin Solutions from $30.00 to $35.00 and gave the company a “buy” rating in a research note on Monday, July 14th. Rosenblatt Securities reissued a “buy” rating and issued a $27.00 price target on shares of Penguin Solutions in a research report on Monday, August 11th. Finally, JMP Securities reissued a “market outperform” rating and issued a $26.00 price target on shares of Penguin Solutions in a research report on Wednesday, July 9th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat, Penguin Solutions currently has a consensus rating of “Buy” and an average target price of $27.13.

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.