American Century Companies Inc. Takes Position in Penguin Solutions, Inc. $PENG

American Century Companies Inc. bought a new stake in shares of Penguin Solutions, Inc. (NASDAQ:PENG) in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 800,354 shares of the company’s stock, valued at approximately $13,902,000. American Century Companies Inc. owned 1.52% of Penguin Solutions at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the stock. Crews Bank & Trust purchased a new stake in shares of Penguin Solutions during the first quarter valued at $28,000. IFP Advisors Inc purchased a new stake in shares of Penguin Solutions during the first quarter valued at $39,000. CWM LLC purchased a new stake in shares of Penguin Solutions during the first quarter valued at $39,000. PNC Financial Services Group Inc. purchased a new stake in shares of Penguin Solutions during the first quarter valued at $62,000. Finally, KLP Kapitalforvaltning AS purchased a new stake in shares of Penguin Solutions during the first quarter valued at $167,000.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Loop Capital upped their price objective on shares of Penguin Solutions from $30.00 to $35.00 and gave the stock a “buy” rating in a research note on Monday, July 14th. The Goldman Sachs Group upped their price objective on shares of Penguin Solutions from $22.50 to $25.00 and gave the stock a “buy” rating in a research note on Wednesday, July 9th. JMP Securities reaffirmed a “market outperform” rating and issued a $26.00 price objective on shares of Penguin Solutions in a research note on Wednesday, July 9th. Wall Street Zen lowered shares of Penguin Solutions from a “strong-buy” rating to a “buy” rating in a research note on Saturday, July 12th. Finally, Rosenblatt Securities reaffirmed a “buy” rating and issued a $27.00 price objective on shares of Penguin Solutions in a research note on Monday, August 11th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, Penguin Solutions currently has a consensus rating of “Buy” and a consensus target price of $27.13.

Penguin Solutions Stock Performance

PENG stock opened at $24.47 on Tuesday. The firm has a market cap of $1.28 billion, a price-to-earnings ratio of -87.39 and a beta of 2.02. The firm has a 50-day simple moving average of $22.87 and a two-hundred day simple moving average of $19.93. Penguin Solutions, Inc. has a one year low of $14.20 and a one year high of $25.94. The company has a debt-to-equity ratio of 1.08, a quick ratio of 2.24 and a current ratio of 2.62.

Penguin Solutions (NASDAQ:PENG) last announced its quarterly earnings data on Tuesday, July 8th. The company reported $0.47 EPS for the quarter, beating the consensus estimate of $0.30 by $0.17. The firm had revenue of $324,251 billion during the quarter, compared to analyst estimates of $330.82 million. Penguin Solutions had a negative net margin of 0.68% and a positive return on equity of 13.27%. Penguin Solutions has set its FY 2025 guidance at 1.750-1.850 EPS. On average, equities analysts forecast that Penguin Solutions, Inc. will post 1.05 EPS for the current fiscal year.

Insider Activity at Penguin Solutions

In related news, Director Penny Herscher sold 2,046 shares of the stock in a transaction that occurred on Tuesday, July 15th. The shares were sold at an average price of $25.42, for a total value of $52,009.32. Following the completion of the transaction, the director directly owned 18,222 shares of the company’s stock, valued at $463,203.24. This trade represents a 10.09% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Jack A. Pacheco sold 63,447 shares of the stock in a transaction that occurred on Monday, July 21st. The shares were sold at an average price of $24.83, for a total transaction of $1,575,389.01. Following the completion of the transaction, the executive vice president directly owned 227,231 shares of the company’s stock, valued at $5,642,145.73. The trade was a 21.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 66,175 shares of company stock valued at $1,644,448 over the last ninety days. 2.60% of the stock is currently owned by insiders.

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.