Penguin Solutions (NASDAQ:PENG) Director Sandeep Nayyar Sells 7,107 Shares

Penguin Solutions, Inc. (NASDAQ:PENG) Director Sandeep Nayyar sold 7,107 shares of the firm’s stock in a transaction dated Tuesday, May 12th. The shares were sold at an average price of $43.48, for a total transaction of $309,012.36. Following the completion of the transaction, the director directly owned 25,417 shares in the company, valued at approximately $1,105,131.16. This represents a 21.85% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

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

• On Monday, May 11th, Sandeep Nayyar sold 12,893 shares of Penguin Solutions stock. The stock was sold at an average price of $45.09, for a total transaction of $581,345.37.

Penguin Solutions Stock Performance

Shares of NASDAQ:PENG opened at $48.27 on Thursday. Penguin Solutions, Inc. has a 1 year low of $16.04 and a 1 year high of $53.27. The stock has a market capitalization of $2.45 billion, a price-to-earnings ratio of 67.04 and a beta of 2.66. The company has a debt-to-equity ratio of 1.09, a current ratio of 2.10 and a quick ratio of 1.55. The company’s 50 day simple moving average is $24.55 and its 200 day simple moving average is $21.68.

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 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 firm had revenue of $343.00 million for the quarter, compared to the consensus estimate of $339.00 million. As a group, research analysts predict that Penguin Solutions, Inc. will post 1.66 EPS for the current fiscal year.

Institutional Trading of Penguin Solutions

Hedge funds and other institutional investors have recently made changes to their positions in the company. Sei Investments Co. raised its holdings in Penguin Solutions by 21.9% in the 1st quarter. Sei Investments Co. now owns 173,981 shares of the company’s stock valued at $3,062,000 after buying an additional 31,212 shares during the last quarter. Lido Advisors LLC increased its position in Penguin Solutions by 23.2% in the 1st quarter. Lido Advisors LLC now owns 14,943 shares of the company’s stock valued at $263,000 after acquiring an additional 2,817 shares during the period. State of Wyoming acquired a new position in Penguin Solutions in the 1st quarter valued at approximately $81,000. First Trust Advisors LP raised its stake in shares of Penguin Solutions by 241.3% during the first quarter. First Trust Advisors LP now owns 49,067 shares of the company’s stock valued at $864,000 after acquiring an additional 34,691 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC grew its stake in shares of Penguin Solutions by 11.6% in the first quarter. Allspring Global Investments Holdings LLC now owns 33,940 shares of the company’s stock worth $619,000 after purchasing an additional 3,518 shares during the last quarter.

Wall Street Analyst Weigh In

A number of research firms have recently commented on PENG. Rosenblatt Securities reissued a “buy” rating and issued a $30.00 target price on shares of Penguin Solutions in a report on Monday, March 30th. Wall Street Zen cut shares of Penguin Solutions from a “buy” rating to a “hold” rating in a research report on Saturday, May 9th. Needham & Company LLC increased their price objective on shares of Penguin Solutions from $25.00 to $27.00 and gave the company a “buy” rating in a research note on Thursday, April 2nd. Weiss Ratings upgraded shares of Penguin Solutions from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Monday, April 6th. Finally, Zacks Research raised shares of Penguin Solutions from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, April 7th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $27.25.

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.