Rhumbline Advisers Makes New Investment in Penguin Solutions, Inc. $PENG

Rhumbline Advisers purchased a new position in Penguin Solutions, Inc. (NASDAQ:PENG) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 151,908 shares of the company’s stock, valued at approximately $2,639,000. Rhumbline Advisers owned 0.29% of Penguin Solutions at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. New York State Teachers Retirement System bought a new position in Penguin Solutions in the first quarter worth approximately $248,000. Allspring Global Investments Holdings LLC bought a new stake in shares of Penguin Solutions during the 1st quarter valued at $779,000. Cambridge Investment Research Advisors Inc. bought a new stake in shares of Penguin Solutions during the 1st quarter valued at $188,000. Principal Financial Group Inc. bought a new stake in shares of Penguin Solutions during the 1st quarter valued at $4,608,000. Finally, Charles Schwab Investment Management Inc. bought a new stake in shares of Penguin Solutions during the 1st quarter valued at $14,786,000.

Insider Activity

In other news, Director Penny Herscher sold 2,046 shares of the business’s stock in a transaction dated 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 sale, the director owned 18,222 shares in the company, valued at approximately $463,203.24. The trade was a 10.09% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Jack A. Pacheco sold 63,447 shares of the business’s stock in a transaction dated 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 sale, the executive vice president owned 227,231 shares of the company’s stock, valued at approximately $5,642,145.73. This represents a 21.83% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 66,175 shares of company stock valued at $1,644,448. Company insiders own 2.60% of the company’s stock.

Penguin Solutions Price Performance

PENG stock opened at $26.33 on Wednesday. The stock has a market cap of $1.38 billion, a PE ratio of -94.03 and a beta of 2.13. The company has a current ratio of 2.62, a quick ratio of 2.24 and a debt-to-equity ratio of 1.08. Penguin Solutions, Inc. has a 12 month low of $14.20 and a 12 month high of $26.53. The company has a 50-day moving average price of $24.35 and a 200 day moving average price of $20.37.

Penguin Solutions (NASDAQ:PENG) last released its quarterly earnings data on Tuesday, July 8th. The company reported $0.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.30 by $0.17. The company had revenue of $324.25 million during the quarter, compared to analysts’ expectations 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. Equities research analysts anticipate that Penguin Solutions, Inc. will post 1.05 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on PENG. Wall Street Zen downgraded shares of Penguin Solutions from a “strong-buy” rating to a “buy” rating in a research report on Saturday, July 12th. Loop Capital raised their price objective on shares of Penguin Solutions from $30.00 to $35.00 and gave the company a “buy” rating in a research report on Monday, July 14th. Rosenblatt Securities restated a “buy” rating and set a $27.00 price objective on shares of Penguin Solutions in a research report on Monday, August 11th. The Goldman Sachs Group raised their price objective on shares of Penguin Solutions from $22.50 to $25.00 and gave the company a “buy” rating in a research report on Wednesday, July 9th. Finally, JPMorgan Chase & Co. raised their price objective on shares of Penguin Solutions from $21.00 to $24.00 and gave the company a “neutral” rating in a research report on Thursday, July 17th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, Penguin Solutions currently has a consensus rating of “Moderate Buy” and a consensus price target 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.