Segall Bryant & Hamill LLC Sells 51,761 Shares of Penguin Solutions, Inc. $PENG

Segall Bryant & Hamill LLC trimmed its position in Penguin Solutions, Inc. (NASDAQ:PENG) by 24.9% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 156,366 shares of the company’s stock after selling 51,761 shares during the quarter. Segall Bryant & Hamill LLC owned 0.31% of Penguin Solutions worth $2,752,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in PENG. William Blair Investment Management LLC bought a new stake in Penguin Solutions in the 4th quarter worth $18,290,000. Maverick Capital Ltd. purchased a new position in shares of Penguin Solutions in the first quarter valued at about $771,000. Fisher Asset Management LLC bought a new position in shares of Penguin Solutions during the fourth quarter valued at about $716,000. State of Alaska Department of Revenue raised its stake in shares of 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 acquiring an additional 23,582 shares during the last quarter. Finally, M&T Bank Corp raised its stake in shares of Penguin Solutions by 980.0% during the fourth quarter. M&T Bank Corp now owns 109,567 shares of the company’s stock valued at $2,143,000 after acquiring an additional 99,422 shares during the last quarter.

Penguin Solutions Trading Up 10.0%

Shares of PENG opened at $57.84 on Wednesday. Penguin Solutions, Inc. has a 1-year low of $16.04 and a 1-year high of $89.86. The company has a current ratio of 1.54, a quick ratio of 1.10 and a debt-to-equity ratio of 0.65. The firm’s 50-day moving average price is $63.15 and its 200-day moving average price is $38.55. The firm has a market capitalization of $2.96 billion, a price-to-earnings ratio of 41.02 and a beta of 2.87.

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

Analysts Set New Price Targets

Several analysts recently issued reports on the company. Needham & Company LLC raised their target price on Penguin Solutions from $60.00 to $80.00 and gave the stock a “buy” rating in a research note on Wednesday, July 8th. Weiss Ratings raised Penguin Solutions from a “hold (c-)” rating to a “hold (c)” rating in a research report on Wednesday, July 8th. Zacks Research upgraded Penguin Solutions from a “hold” rating to a “strong-buy” rating in a report on Tuesday, June 30th. Rosenblatt Securities lifted their price objective on Penguin Solutions from $65.00 to $75.00 and gave the stock a “buy” rating in a research report on Monday, July 6th. Finally, Citizens Jmp lifted their price objective on Penguin Solutions from $65.00 to $85.00 and gave the stock a “market outperform” rating in a research report on Wednesday, July 8th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Penguin Solutions presently has a consensus rating of “Moderate Buy” and a consensus target price of $63.33.

Insider Transactions at Penguin Solutions

In other news, 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 value of $581,345.37. Following the completion of the transaction, the director owned 32,524 shares of the company’s stock, valued at approximately $1,466,507.16. This represents a 28.39% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Maximiliane C. Straub sold 8,000 shares of the 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 completion of the transaction, the director directly owned 58,975 shares of the company’s stock, valued at $2,653,875. This represents a 11.94% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 59,678 shares of company stock worth $2,935,614 over the last quarter. Insiders own 2.90% of the company’s stock.

Penguin Solutions 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.