Maverick Capital Ltd. Takes $771,000 Position in Penguin Solutions, Inc. $PENG

Maverick Capital Ltd. acquired a new position in shares of Penguin Solutions, Inc. (NASDAQ:PENG) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 43,794 shares of the company’s stock, valued at approximately $771,000.

A number of other institutional investors and hedge funds also recently modified their holdings of the company. Farther Finance Advisors LLC lifted its stake in Penguin Solutions by 187.0% in the 4th quarter. Farther Finance Advisors LLC now owns 1,452 shares of the company’s stock valued at $28,000 after purchasing an additional 946 shares during the last quarter. Kestra Advisory Services LLC acquired a new position in Penguin Solutions during the fourth quarter worth approximately $29,000. Raymond James Financial Inc. bought a new stake in Penguin Solutions in the second quarter valued at approximately $37,000. Allworth Financial LP raised its stake in Penguin Solutions by 41.4% in the third quarter. Allworth Financial LP now owns 1,792 shares of the company’s stock valued at $47,000 after buying an additional 525 shares during the period. Finally, Torren Management LLC bought a new stake in Penguin Solutions in the fourth quarter valued at approximately $48,000.

Penguin Solutions Stock Performance

PENG opened at $48.13 on Wednesday. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.54 and a quick ratio of 1.10. The business has a fifty day simple moving average of $63.14 and a 200 day simple moving average of $37.43. Penguin Solutions, Inc. has a 1 year low of $16.04 and a 1 year high of $89.86. The company has a market capitalization of $2.47 billion, a PE ratio of 34.13 and a beta of 2.83.

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

Insider Buying and Selling at Penguin Solutions

In other Penguin Solutions news, Director Maximiliane C. Straub sold 8,000 shares of the business’s stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $45.00, for a total value of $360,000.00. Following the completion of the sale, the director owned 58,975 shares of the company’s stock, valued at $2,653,875. The trade was a 11.94% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Sandeep Nayyar sold 12,893 shares of the stock in a transaction that occurred 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 transaction, the director owned 32,524 shares in the company, valued at approximately $1,466,507.16. The trade was a 28.39% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 59,678 shares of company stock valued at $2,935,614 in the last three months. 2.90% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on PENG. Citigroup reiterated an “outperform” rating on shares of Penguin Solutions in a research note on Wednesday, July 8th. Barclays cut Penguin Solutions from an “equal weight” rating to an “underweight” rating and set a $40.00 price target on the stock. in a research note on Monday, July 20th. Stifel Nicolaus raised their price target on Penguin Solutions from $66.00 to $75.00 and gave the company a “buy” rating in a report on Wednesday, July 8th. Zacks Research raised shares of Penguin Solutions from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, June 30th. Finally, Weiss Ratings upgraded shares of Penguin Solutions from a “hold (c-)” rating to a “hold (c)” rating in a report on Wednesday, July 8th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $63.33.

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.