Penguin Solutions (NASDAQ:PENG) Trading Down 8.2% – Should You Sell?

Penguin Solutions, Inc. (NASDAQ:PENG) shares fell 8.2% during trading on Wednesday . The stock traded as low as $69.54 and last traded at $69.8110. 1,414,508 shares changed hands during trading, a decline of 32% from the average daily volume of 2,092,379 shares. The stock had previously closed at $76.01.

Analysts Set New Price Targets

Several research analysts have weighed in on PENG shares. Wall Street Zen upgraded Penguin Solutions from a “hold” rating to a “buy” rating in a research note on Sunday, May 17th. Rosenblatt Securities increased their price target on Penguin Solutions from $54.00 to $65.00 and gave the stock a “buy” rating in a report on Tuesday, June 2nd. Barclays lowered shares of Penguin Solutions from an “overweight” rating to an “equal weight” rating and lifted their price objective for the company from $23.00 to $27.00 in a research report on Wednesday, April 22nd. Zacks Research cut shares of Penguin Solutions from a “strong-buy” rating to a “hold” rating in a research note on Monday, June 1st. Finally, Stifel Nicolaus upped their price objective on shares of Penguin Solutions from $24.00 to $66.00 and gave the stock a “buy” rating in a research report on Tuesday, June 2nd. Six investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $36.88.

Penguin Solutions Stock Down 9.9%

The firm has a 50 day moving average of $52.00 and a two-hundred day moving average of $31.12. The stock has a market capitalization of $3.48 billion, a PE ratio of 95.27 and a beta of 2.89. The company has a current ratio of 2.10, a quick ratio of 1.55 and a debt-to-equity ratio of 1.09.

Penguin Solutions (NASDAQ:PENG) last posted its 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. Penguin Solutions had a return on equity of 19.94% and a net margin of 4.07%.The company had revenue of $343.00 million for the quarter, compared to the consensus estimate of $339.00 million. Equities research analysts anticipate that Penguin Solutions, Inc. will post 1.79 earnings per share for the current year.

Insider Buying and Selling at Penguin Solutions

In other Penguin Solutions news, Director Maximiliane C. Straub sold 3,000 shares of the company’s stock in a transaction dated Thursday, May 14th. The shares were sold at an average price of $49.00, for a total value of $147,000.00. Following the sale, the director owned 51,975 shares of the company’s stock, valued at $2,546,775. This represents a 5.46% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Anne Kuykendall sold 4,000 shares of the stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $64.38, for a total transaction of $257,520.00. Following the completion of the sale, the senior vice president owned 120,794 shares in the company, valued at $7,776,717.72. This represents a 3.21% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 83,120 shares of company stock valued at $3,486,734 in the last quarter. Insiders own 2.90% of the company’s stock.

Institutional Investors Weigh In On Penguin Solutions

Institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. raised its stake in Penguin Solutions by 0.4% in the 3rd quarter. Vanguard Group Inc. now owns 6,592,564 shares of the company’s stock valued at $173,253,000 after purchasing an additional 25,804 shares during the last quarter. State Street Corp boosted its stake in shares of Penguin Solutions by 3.2% during the 4th 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 last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Penguin Solutions by 4.2% during the 4th 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 last quarter. Invesco Ltd. grew its holdings in shares of 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 buying an additional 1,706,482 shares in the last quarter. Finally, Paradigm Capital Management Inc. NY grew its holdings in shares of Penguin Solutions by 73.8% during the first quarter. Paradigm Capital Management Inc. NY now owns 1,605,100 shares of the company’s stock worth $28,250,000 after buying an additional 681,700 shares in the last quarter.

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.