Inspire Investing LLC Boosts Holdings in Penguin Solutions, Inc. $PENG

Inspire Investing LLC raised its stake in shares of Penguin Solutions, Inc. (NASDAQ:PENG) by 26.3% in the first quarter, according to its most recent 13F filing with the SEC. The fund owned 34,997 shares of the company’s stock after buying an additional 7,297 shares during the period. Inspire Investing LLC’s holdings in Penguin Solutions were worth $616,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Dimensional Fund Advisors LP purchased a new position in Penguin Solutions during the third quarter valued at approximately $60,264,000. Invesco Ltd. boosted its position in Penguin Solutions by 596.8% in the 4th 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 in the last quarter. William Blair Investment Management LLC purchased a new stake in Penguin Solutions in the 4th quarter worth approximately $18,290,000. Ophir Asset Management Pty Ltd grew its stake in shares of Penguin Solutions by 234.3% during the 4th quarter. Ophir Asset Management Pty Ltd now owns 1,211,612 shares of the company’s stock worth $23,699,000 after purchasing an additional 849,178 shares during the period. Finally, ArrowMark Colorado Holdings LLC acquired a new stake in shares of Penguin Solutions during the 3rd quarter worth approximately $15,789,000.

Insider Transactions at Penguin Solutions

In other Penguin Solutions news, SVP Anne Kuykendall sold 4,000 shares of Penguin Solutions stock in a transaction 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 sale, the senior vice president owned 120,794 shares of the company’s stock, valued at $7,776,717.72. The trade was a 3.21% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Joseph Gates Clark sold 10,351 shares of Penguin Solutions stock in a transaction on Monday, June 1st. The stock was sold at an average price of $58.87, for a total transaction of $609,363.37. Following the sale, the senior vice president directly owned 66,425 shares in the company, valued at approximately $3,910,439.75. This trade represents a 13.48% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 83,120 shares of company stock valued at $3,486,734 over the last ninety days. Company insiders own 2.90% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently issued reports on the stock. Needham & Company LLC increased their price target on shares of Penguin Solutions from $25.00 to $27.00 and gave the stock a “buy” rating in a report on Thursday, April 2nd. Barclays cut 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 report on Wednesday, April 22nd. 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. Zacks Research lowered shares of Penguin Solutions from a “strong-buy” rating to a “hold” rating in a research note on Monday, June 1st. Finally, Wall Street Zen upgraded Penguin Solutions from a “hold” rating to a “buy” rating in a research report on Sunday, May 17th. Six analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $36.88.

Penguin Solutions Price Performance

NASDAQ:PENG opened at $68.81 on Thursday. Penguin Solutions, Inc. has a 12 month low of $16.04 and a 12 month high of $77.40. The stock has a 50 day moving average of $52.81 and a two-hundred day moving average of $31.45. The company has a current ratio of 2.10, a quick ratio of 1.55 and a debt-to-equity ratio of 1.09. The firm has a market cap of $3.49 billion, a P/E ratio of 95.57 and a beta of 2.82.

Penguin Solutions (NASDAQ:PENG) last released 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. The business had revenue of $343.00 million for 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%. On average, analysts expect that Penguin Solutions, Inc. will post 1.79 earnings per share for the current fiscal year.

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.