Kennedy Capital Management LLC Acquires 116,168 Shares of Penguin Solutions, Inc. $PENG

Kennedy Capital Management LLC grew its holdings in shares of Penguin Solutions, Inc. (NASDAQ:PENG) by 11.7% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,108,336 shares of the company’s stock after purchasing an additional 116,168 shares during the quarter. Kennedy Capital Management LLC’s holdings in Penguin Solutions were worth $21,679,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Farther Finance Advisors LLC boosted its position in Penguin Solutions by 187.0% during the fourth quarter. Farther Finance Advisors LLC now owns 1,452 shares of the company’s stock worth $28,000 after purchasing an additional 946 shares during the period. Kestra Advisory Services LLC bought a new position in Penguin Solutions during the fourth quarter worth about $29,000. Raymond James Financial Inc. bought a new position in Penguin Solutions during the second quarter worth about $37,000. Jones Financial Companies Lllp boosted its position in Penguin Solutions by 4,131.7% during the third quarter. Jones Financial Companies Lllp now owns 1,735 shares of the company’s stock worth $45,000 after purchasing an additional 1,694 shares during the period. Finally, Allworth Financial LP boosted its position in Penguin Solutions by 41.4% during the third quarter. Allworth Financial LP now owns 1,792 shares of the company’s stock worth $47,000 after purchasing an additional 525 shares during the period.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. Needham & Company LLC increased their target price on shares of Penguin Solutions from $25.00 to $27.00 and gave the stock a “buy” rating in a research report on Thursday, April 2nd. Wall Street Zen upgraded shares of Penguin Solutions from a “hold” rating to a “buy” rating in a research report on Sunday, May 17th. Stifel Nicolaus increased their target price 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. Rosenblatt Securities increased their price target on shares of Penguin Solutions from $54.00 to $65.00 and gave the stock a “buy” rating in a report on Tuesday, June 2nd. Finally, Weiss Ratings downgraded shares of Penguin Solutions from a “hold (c)” rating to a “hold (c-)” rating in a report on Wednesday, May 13th. Six analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $36.88.

Insider Activity at Penguin Solutions

In related news, Director Sandeep Nayyar sold 7,107 shares of the firm’s stock in a transaction that occurred on Tuesday, May 12th. The shares were sold at an average price of $43.48, for a total value of $309,012.36. Following the sale, the director directly owned 25,417 shares of the company’s stock, valued at $1,105,131.16. This trade represents a 21.85% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Maximiliane C. Straub sold 3,000 shares of the firm’s stock in a transaction that occurred 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 directly owned 51,975 shares in the company, valued at $2,546,775. This represents a 5.46% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 83,120 shares of company stock valued at $3,300,214. Company insiders own 2.90% of the company’s stock.

Penguin Solutions Trading Down 0.3%

Shares of PENG opened at $64.13 on Friday. The firm’s 50 day simple moving average is $41.78 and its 200 day simple moving average is $27.26. The company has a market capitalization of $3.25 billion, a P/E ratio of 89.07 and a beta of 2.89. The company has a debt-to-equity ratio of 1.09, a current ratio of 2.10 and a quick ratio of 1.55. Penguin Solutions, Inc. has a 1-year low of $16.04 and a 1-year high of $73.24.

Penguin Solutions (NASDAQ:PENG) last announced 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. The business had revenue of $343.00 million for the quarter, compared to the consensus estimate of $339.00 million. Penguin Solutions had a net margin of 4.07% and a return on equity of 19.94%. Sell-side analysts forecast that Penguin Solutions, Inc. will post 1.79 earnings per share for the current fiscal year.

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.