Penguin Solutions, Inc. $PENG Shares Purchased by Hsbc Holdings PLC

Hsbc Holdings PLC boosted its stake in Penguin Solutions, Inc. (NASDAQ:PENG) by 8.0% in the fourth quarter, Holdings Channel.com reports. The fund owned 211,373 shares of the company’s stock after buying an additional 15,567 shares during the quarter. Hsbc Holdings PLC’s holdings in Penguin Solutions were worth $4,170,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently bought and sold shares of the company. Royal Bank of Canada purchased a new position in shares of Penguin Solutions during the first quarter worth about $7,250,000. Amundi purchased a new stake in shares of Penguin Solutions in the 1st quarter valued at about $373,000. AQR Capital Management LLC purchased a new stake in shares of Penguin Solutions in the 1st quarter valued at about $1,076,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new stake in shares of Penguin Solutions in the 1st quarter valued at about $538,000. Finally, Goldman Sachs Group Inc. acquired a new stake in shares of Penguin Solutions in the 1st quarter valued at about $3,259,000.

Penguin Solutions Stock Down 6.7%

Shares of Penguin Solutions stock opened at $62.28 on Friday. Penguin Solutions, Inc. has a one year low of $16.04 and a one year high of $77.40. The company has a market cap of $3.16 billion, a P/E ratio of 86.50 and a beta of 2.89. The company has a debt-to-equity ratio of 1.09, a quick ratio of 1.55 and a current ratio of 2.10. The firm has a fifty day moving average of $50.18 and a two-hundred day moving average of $30.36.

Penguin Solutions (NASDAQ:PENG) last issued its earnings results on Wednesday, April 1st. The company reported $0.52 earnings per share for the quarter, beating the consensus estimate of $0.43 by $0.09. Penguin Solutions had a net margin of 4.07% and a return on equity of 19.94%. The business had revenue of $343.00 million for the quarter, compared to the consensus estimate of $339.00 million. On average, analysts forecast that Penguin Solutions, Inc. will post 1.79 earnings per share for the current year.

Insider Activity

In other Penguin Solutions news, SVP Anne Kuykendall sold 4,000 shares of the business’s stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $64.38, for a total transaction of $257,520.00. Following the transaction, the senior vice president owned 120,794 shares in the company, valued at approximately $7,776,717.72. The trade was a 3.21% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Joseph Gates Clark sold 10,351 shares of the stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $58.87, for a total value of $609,363.37. Following the transaction, the senior vice president directly owned 66,425 shares of the company’s stock, valued at approximately $3,910,439.75. This trade represents a 13.48% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 83,120 shares of company stock worth $3,486,734 in the last three months. 2.90% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several research analysts have commented on PENG shares. Barclays lowered Penguin Solutions from an “overweight” rating to an “equal weight” rating and lifted their price target for the stock from $23.00 to $27.00 in a research report on Wednesday, April 22nd. Rosenblatt Securities increased their price objective on Penguin Solutions from $54.00 to $65.00 and gave the company a “buy” rating in a report on Tuesday, June 2nd. Wall Street Zen upgraded shares of Penguin Solutions from a “hold” rating to a “buy” rating in a research report on Sunday, May 17th. Zacks Research cut shares of Penguin Solutions from a “strong-buy” rating to a “hold” rating in a report on Monday, June 1st. Finally, Weiss Ratings downgraded shares of Penguin Solutions from a “hold (c)” rating to a “hold (c-)” rating in a research report on Wednesday, May 13th. Six research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $36.88.

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.