Inspire Investing LLC Purchases 7,297 Shares of Penguin Solutions, Inc. $PENG

Inspire Investing LLC grew its holdings in shares of Penguin Solutions, Inc. (NASDAQ:PENG) by 26.3% during the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 34,997 shares of the company’s stock after buying an additional 7,297 shares during the quarter. Inspire Investing LLC owned 0.07% of Penguin Solutions worth $616,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. William Blair Investment Management LLC purchased a new stake in Penguin Solutions in the fourth quarter worth $18,290,000. Fisher Asset Management LLC purchased a new stake in shares of Penguin Solutions during the fourth quarter valued at $716,000. State of Alaska Department of Revenue grew its holdings in shares of Penguin Solutions by 98.3% in the fourth quarter. State of Alaska Department of Revenue now owns 47,576 shares of the company’s stock worth $930,000 after purchasing an additional 23,582 shares during the last quarter. Kennedy Capital Management LLC grew its holdings in shares of Penguin Solutions by 31.9% in the third quarter. Kennedy Capital Management LLC now owns 992,168 shares of the company’s stock worth $26,074,000 after purchasing an additional 240,159 shares during the last quarter. Finally, M&T Bank Corp increased its stake in 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 buying an additional 99,422 shares during the period.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. Rosenblatt Securities boosted their price objective on shares of Penguin Solutions from $54.00 to $65.00 and gave the company a “buy” rating in a research report on Tuesday, June 2nd. Zacks Research lowered Penguin Solutions from a “strong-buy” rating to a “hold” rating in a report on Monday, June 1st. Stifel Nicolaus increased their price objective on Penguin Solutions from $24.00 to $66.00 and gave the stock a “buy” rating in a research note on Tuesday, June 2nd. Weiss Ratings downgraded Penguin Solutions from a “hold (c)” rating to a “hold (c-)” rating in a research report on Wednesday, May 13th. Finally, Barclays lowered Penguin Solutions from an “overweight” rating to an “equal weight” rating and raised their price target for the company from $23.00 to $27.00 in a research note on Wednesday, April 22nd. Six equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $36.88.

Insider Transactions at Penguin Solutions

In related news, Director Maximiliane C. Straub sold 8,000 shares of the company’s stock in a transaction that occurred on Monday, May 11th. The stock was sold at an average price of $45.00, for a total value of $360,000.00. Following the sale, the director owned 58,975 shares in the company, valued at $2,653,875. This represents a 11.94% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Anne Kuykendall sold 4,000 shares of the stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $54.45, for a total transaction of $217,800.00. Following the completion of the transaction, the senior vice president owned 124,794 shares in the company, valued at approximately $6,795,033.30. This trade represents a 3.11% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 83,120 shares of company stock valued at $3,486,734 over the last three months. Company insiders own 2.90% of the company’s stock.

Penguin Solutions Stock Performance

PENG opened at $68.81 on Thursday. The company has a market cap of $3.49 billion, a P/E ratio of 95.57 and a beta of 2.82. The company has a quick ratio of 1.55, a current ratio of 2.10 and a debt-to-equity ratio of 1.09. The firm’s 50-day moving average price is $52.81 and its 200-day moving average price is $31.45. Penguin Solutions, Inc. has a 52-week low of $16.04 and a 52-week high of $77.40.

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, beating the consensus estimate 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, equities analysts anticipate that Penguin Solutions, Inc. will post 1.79 EPS 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.