Segall Bryant & Hamill LLC Sells 51,761 Shares of Penguin Solutions, Inc. $PENG

Segall Bryant & Hamill LLC trimmed its holdings in Penguin Solutions, Inc. (NASDAQ:PENG) by 24.9% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 156,366 shares of the company’s stock after selling 51,761 shares during the quarter. Segall Bryant & Hamill LLC’s holdings in Penguin Solutions were worth $2,752,000 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. William Blair Investment Management LLC purchased a new stake in Penguin Solutions in the fourth quarter worth about $18,290,000. Maverick Capital Ltd. bought a new position in shares of Penguin Solutions during the first quarter valued at approximately $771,000. Fisher Asset Management LLC purchased a new position in shares of Penguin Solutions during the fourth quarter valued at approximately $716,000. State of Alaska Department of Revenue lifted its holdings in shares of Penguin Solutions by 98.3% during the fourth quarter. State of Alaska Department of Revenue now owns 47,576 shares of the company’s stock valued at $930,000 after purchasing an additional 23,582 shares during the last quarter. Finally, M&T Bank Corp boosted its position in shares of Penguin Solutions by 980.0% in the 4th quarter. M&T Bank Corp now owns 109,567 shares of the company’s stock worth $2,143,000 after purchasing an additional 99,422 shares in the last quarter.

Insiders Place Their Bets

In other Penguin Solutions news, Director Sandeep Nayyar sold 12,893 shares of the stock in a transaction on Monday, May 11th. The stock was sold at an average price of $45.09, for a total transaction of $581,345.37. Following the sale, the director directly owned 32,524 shares in the company, valued at approximately $1,466,507.16. This trade represents a 28.39% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Joseph Gates Clark sold 10,351 shares of the stock in a transaction on Monday, June 1st. The shares were sold at an average price of $58.87, for a total value of $609,363.37. Following the sale, the senior vice president owned 66,425 shares in the company, valued at approximately $3,910,439.75. This represents a 13.48% 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. Over the last 90 days, insiders sold 59,678 shares of company stock valued at $2,935,614. Insiders own 2.90% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on PENG. Zacks Research upgraded Penguin Solutions from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, June 30th. Citizens Jmp lifted their price objective on Penguin Solutions from $65.00 to $85.00 and gave the company a “market outperform” rating in a research note on Wednesday, July 8th. Weiss Ratings raised Penguin Solutions from a “hold (c-)” rating to a “hold (c)” rating in a report on Wednesday, July 8th. Wall Street Zen cut Penguin Solutions from a “strong-buy” rating to a “buy” rating in a research note on Sunday, July 26th. Finally, Needham & Company LLC increased their target price on Penguin Solutions from $60.00 to $80.00 and gave the stock a “buy” rating in a research note on Wednesday, July 8th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Penguin Solutions has an average rating of “Moderate Buy” and a consensus target price of $63.33.

Penguin Solutions Trading Up 10.0%

Shares of NASDAQ PENG opened at $57.84 on Wednesday. The firm’s 50 day moving average price is $63.15 and its 200-day moving average price is $38.55. The company has a market cap of $2.96 billion, a PE ratio of 41.02 and a beta of 2.87. Penguin Solutions, Inc. has a 52-week low of $16.04 and a 52-week high of $89.86. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.10 and a current ratio of 1.54.

Penguin Solutions (NASDAQ:PENG) last posted its quarterly earnings results on Tuesday, July 7th. The company reported $0.84 EPS for the quarter, beating analysts’ consensus estimates of $0.63 by $0.21. The firm had revenue of $478.71 million for the quarter, compared to analysts’ expectations of $407.47 million. Penguin Solutions had a net margin of 6.44% and a return on equity of 28.23%. During the same quarter in the prior year, the company posted $0.52 earnings per share. On average, equities research analysts expect that Penguin Solutions, Inc. will post 2.08 EPS for the current fiscal year.

Penguin Solutions 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.