Royce & Associates LP Trims Position in Penguin Solutions, Inc. $PENG

Royce & Associates LP trimmed its position in shares of Penguin Solutions, Inc. (NASDAQ:PENG) by 9.0% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 827,326 shares of the company’s stock after selling 82,134 shares during the quarter. Royce & Associates LP’s holdings in Penguin Solutions were worth $16,182,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. William Blair Investment Management LLC acquired a new stake in Penguin Solutions during the fourth quarter valued at $18,290,000. Kennedy Capital Management LLC grew its position in Penguin Solutions by 31.9% during the third quarter. Kennedy Capital Management LLC now owns 992,168 shares of the company’s stock valued at $26,074,000 after buying an additional 240,159 shares during the period. State of Alaska Department of Revenue grew its position in 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 buying an additional 23,582 shares during the period. Barclays PLC grew its position in Penguin Solutions by 46.9% during the third quarter. Barclays PLC now owns 1,055,189 shares of the company’s stock valued at $27,730,000 after buying an additional 336,644 shares during the period. Finally, American Century Companies Inc. grew its position in Penguin Solutions by 35.3% during the third quarter. American Century Companies Inc. now owns 1,294,279 shares of the company’s stock valued at $34,014,000 after buying an additional 337,564 shares during the period.

Penguin Solutions Price Performance

Penguin Solutions stock opened at $54.95 on Wednesday. Penguin Solutions, Inc. has a 52-week low of $16.04 and a 52-week high of $55.65. The firm has a market capitalization of $2.79 billion, a price-to-earnings ratio of 76.32 and a beta of 2.66. The company has a fifty day simple moving average of $30.14 and a 200-day simple moving average of $23.40. The company has a quick ratio of 1.55, a current ratio of 2.10 and a debt-to-equity ratio of 1.09.

Penguin Solutions (NASDAQ:PENG) last released its earnings results on Wednesday, April 1st. The company reported $0.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $339.00 million. On average, equities analysts anticipate that Penguin Solutions, Inc. will post 1.66 EPS for the current fiscal year.

Insider Transactions at Penguin Solutions

In other news, Director Maximiliane C. Straub sold 3,000 shares of the company’s stock in a transaction on Thursday, May 14th. The shares were sold at an average price of $49.00, for a total transaction of $147,000.00. Following the completion of 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Joseph Gates Clark sold 5,000 shares of the company’s stock in a transaction on Friday, May 8th. The stock was sold at an average price of $39.99, for a total transaction of $199,950.00. Following the sale, the senior vice president directly owned 76,776 shares of the company’s stock, valued at $3,070,272.24. The trade was a 6.11% decrease in their position. 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 68,769 shares of company stock valued at $2,473,051 over the last 90 days. 2.90% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several research firms recently commented on PENG. Needham & Company LLC raised their price target on shares of Penguin Solutions from $25.00 to $27.00 and gave the company a “buy” rating in a research report on Thursday, April 2nd. Zacks Research upgraded Penguin Solutions from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, April 7th. Weiss Ratings cut Penguin Solutions from a “hold (c)” rating to a “hold (c-)” rating in a research report on Wednesday, May 13th. Stifel Nicolaus cut their price objective on Penguin Solutions from $27.00 to $24.00 and set a “buy” rating for the company in a research report on Thursday, April 2nd. Finally, Rosenblatt Securities restated a “buy” rating and issued a $30.00 price objective on shares of Penguin Solutions in a research report on Monday, March 30th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $27.25.

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.