Penguin Solutions, Inc. $PENG Shares Bought by State of Alaska Department of Revenue

State of Alaska Department of Revenue grew its stake in shares of Penguin Solutions, Inc. (NASDAQ:PENG) by 98.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 47,576 shares of the company’s stock after purchasing an additional 23,582 shares during the quarter. State of Alaska Department of Revenue owned 0.09% of Penguin Solutions worth $930,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Raymond James Financial Inc. acquired a new position in shares of Penguin Solutions during the second quarter worth about $37,000. Strs Ohio acquired a new position in shares of Penguin Solutions during the third quarter worth about $42,000. Jones Financial Companies Lllp lifted its stake in shares of Penguin Solutions by 4,131.7% during the third quarter. Jones Financial Companies Lllp now owns 1,735 shares of the company’s stock worth $45,000 after purchasing an additional 1,694 shares in the last quarter. Allworth Financial LP grew its position in Penguin Solutions by 41.4% in the third quarter. Allworth Financial LP now owns 1,792 shares of the company’s stock valued at $47,000 after acquiring an additional 525 shares in the last quarter. Finally, Federated Hermes Inc. grew its position in Penguin Solutions by 803.9% in the third quarter. Federated Hermes Inc. now owns 1,862 shares of the company’s stock valued at $49,000 after acquiring an additional 1,656 shares in the last quarter.

Penguin Solutions Trading Down 1.2%

PENG opened at $27.58 on Thursday. The stock has a market capitalization of $1.40 billion, a PE ratio of 38.31 and a beta of 2.23. The firm’s fifty day moving average price is $20.28 and its 200 day moving average price is $20.49. The company has a debt-to-equity ratio of 1.09, a current ratio of 2.10 and a quick ratio of 1.55. Penguin Solutions, Inc. has a 12-month low of $16.04 and a 12-month high of $29.80.

Penguin Solutions (NASDAQ:PENG) last posted its quarterly earnings results on Wednesday, April 1st. The company reported $0.52 EPS for the quarter, topping analysts’ consensus estimates of $0.43 by $0.09. The business had revenue of $343.00 million during the quarter, compared to the consensus estimate of $339.00 million. Penguin Solutions had a return on equity of 19.94% and a net margin of 4.07%. As a group, research analysts expect that Penguin Solutions, Inc. will post 1.66 EPS for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have commented on PENG. Weiss Ratings upgraded shares of Penguin Solutions from a “sell (d+)” rating to a “hold (c-)” rating in a report on Monday, April 6th. Rosenblatt Securities reiterated a “buy” rating and issued a $30.00 price objective on shares of Penguin Solutions in a report on Monday, March 30th. Zacks Research upgraded Penguin Solutions from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, April 7th. Wall Street Zen upgraded Penguin Solutions from a “hold” rating to a “buy” rating in a research note on Saturday, February 21st. Finally, Needham & Company LLC raised their price objective on Penguin Solutions from $25.00 to $27.00 and gave the company a “buy” rating in a research note on Thursday, April 2nd. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $27.25.

Insider Activity at Penguin Solutions

In other news, SVP Joseph Gates Clark sold 5,000 shares of Penguin Solutions stock in a transaction dated Thursday, April 16th. The shares were sold at an average price of $26.82, for a total value of $134,100.00. Following the completion of the transaction, the senior vice president directly owned 95,549 shares of the company’s stock, valued at approximately $2,562,624.18. The trade was a 4.97% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, SVP Anne Kuykendall sold 4,000 shares of Penguin Solutions stock in a transaction dated 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 $2,331,498. This trade represents a 2.96% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 23,630 shares of company stock worth $534,232. Corporate insiders own 2.90% of the company’s stock.

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.