Penguin Solutions (NASDAQ:PENG) Director Sandeep Nayyar Sells 12,893 Shares

Penguin Solutions, Inc. (NASDAQ:PENG) Director Sandeep Nayyar sold 12,893 shares of the stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $45.09, for a total transaction of $581,345.37. Following the completion of the sale, the director owned 32,524 shares in the company, valued at $1,466,507.16. This represents a 28.39% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Sandeep Nayyar also recently made the following trade(s):

• On Tuesday, May 12th, Sandeep Nayyar sold 7,107 shares of Penguin Solutions stock. The stock was sold at an average price of $43.48, for a total transaction of $309,012.36.

Penguin Solutions Trading Up 9.4%

NASDAQ PENG traded up $4.14 during mid-day trading on Wednesday, reaching $48.27. 9,070,584 shares of the stock were exchanged, compared to its average volume of 1,687,478. Penguin Solutions, Inc. has a 1-year low of $16.04 and a 1-year high of $53.27. The business’s fifty day simple moving average is $23.98 and its 200 day simple moving average is $21.49. The stock has a market capitalization of $2.45 billion, a PE ratio of 67.04 and a beta of 2.66. The company has a debt-to-equity ratio of 1.09, a quick ratio of 1.55 and a current ratio of 2.10.

Penguin Solutions (NASDAQ:PENG) last announced its earnings results on Wednesday, April 1st. The company reported $0.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.43 by $0.09. Penguin Solutions had a net margin of 4.07% and a return on equity of 19.94%. The firm had revenue of $343.00 million for the quarter, compared to analyst estimates of $339.00 million. On average, research analysts anticipate that Penguin Solutions, Inc. will post 1.66 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on PENG. Rosenblatt Securities restated a “buy” rating and set a $30.00 target price on shares of Penguin Solutions in a research report on Monday, March 30th. Zacks Research upgraded shares of Penguin Solutions from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, April 7th. Needham & Company LLC raised their target price on shares of Penguin Solutions from $25.00 to $27.00 and gave the stock a “buy” rating in a research report on Thursday, April 2nd. Barclays lowered shares of Penguin Solutions from an “overweight” rating to an “equal weight” rating and raised their target price for the stock from $23.00 to $27.00 in a research report on Wednesday, April 22nd. Finally, Wall Street Zen lowered shares of Penguin Solutions from a “buy” rating to a “hold” rating in a research report on Saturday. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $27.25.

Hedge Funds Weigh In On Penguin Solutions

A number of large investors have recently bought and sold shares of the stock. Vanguard Group Inc. raised its stake in Penguin Solutions by 0.4% during the third quarter. Vanguard Group Inc. now owns 6,592,564 shares of the company’s stock worth $173,253,000 after purchasing an additional 25,804 shares during the period. State Street Corp raised its stake in Penguin Solutions by 3.2% during the fourth quarter. State Street Corp now owns 2,957,938 shares of the company’s stock worth $57,857,000 after purchasing an additional 91,805 shares during the period. Dimensional Fund Advisors LP raised its stake in Penguin Solutions by 4.2% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,388,748 shares of the company’s stock worth $46,726,000 after purchasing an additional 95,585 shares during the period. Invesco Ltd. raised its stake in Penguin Solutions by 596.8% during the fourth quarter. Invesco Ltd. now owns 1,992,415 shares of the company’s stock worth $38,972,000 after purchasing an additional 1,706,482 shares during the period. Finally, American Century Companies Inc. raised its stake in Penguin Solutions by 35.3% during the third quarter. American Century Companies Inc. now owns 1,294,279 shares of the company’s stock worth $34,014,000 after purchasing an additional 337,564 shares during the period.

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.