Key Points
- Insider sale: Penguin Solutions SVP Anne Kuykendall sold 4,000 shares at an average price of $50.58, generating $202,320. The transaction was conducted under a pre-arranged Rule 10b5-1 plan, leaving her with 112,994 shares.
- Strong quarterly results: The company reported quarterly EPS of $0.84, beating estimates of $0.63, while revenue of $478.71 million exceeded the $407.47 million consensus forecast.
- Analyst outlook remains positive: Penguin Solutions has a “Moderate Buy” consensus rating and an average price target of $63.33, with several firms recently raising their targets.
Penguin Solutions, Inc. (NASDAQ:PENG - Get Free Report) SVP Anne Kuykendall sold 4,000 shares of the stock in a transaction that occurred on Monday, August 24th. The shares were sold at an average price of $50.58, for a total transaction of $202,320.00. Following the sale, the senior vice president directly owned 112,994 shares of the company's stock, valued at approximately $5,715,236.52. This represents a 3.42% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Anne Kuykendall also recently made the following trade(s):
- On Monday, June 15th, Anne Kuykendall sold 4,000 shares of Penguin Solutions stock. The stock was sold at an average price of $64.38, for a total transaction of $257,520.00.
Penguin Solutions Stock Performance
PENG opened at $51.86 on Thursday. The business has a fifty day simple moving average of $61.21 and a 200-day simple moving average of $42.67. The firm has a market cap of $2.66 billion, a PE ratio of 36.78 and a beta of 2.87. Penguin Solutions, Inc. has a fifty-two week low of $16.04 and a fifty-two week high of $89.86. The company has a quick ratio of 1.10, a current ratio of 1.54 and a debt-to-equity ratio of 0.65.
Penguin Solutions (NASDAQ:PENG - Get Free Report) last released its quarterly earnings results on Tuesday, July 7th. The company reported $0.84 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.63 by $0.21. The business had revenue of $478.71 million for the quarter, compared to analyst estimates of $407.47 million. Penguin Solutions had a net margin of 6.44% and a return on equity of 28.23%. During the same quarter in the previous year, the business earned $0.52 earnings per share. As a group, equities analysts predict that Penguin Solutions, Inc. will post 2.08 EPS for the current fiscal year.
Wall Street Analysts Forecast Growth
PENG has been the topic of a number of research reports. Needham & Company LLC upped their target price on Penguin Solutions from $60.00 to $80.00 and gave the company a "buy" rating in a report on Wednesday, July 8th. Wall Street Zen downgraded shares of Penguin Solutions from a "strong-buy" rating to a "buy" rating in a research report on Sunday, July 26th. Citigroup reaffirmed an "outperform" rating on shares of Penguin Solutions in a research report on Wednesday, July 8th. Rosenblatt Securities increased their target price on shares of Penguin Solutions from $65.00 to $75.00 and gave the stock a "buy" rating in a research report on Monday, July 6th. Finally, Zacks Research raised shares of Penguin Solutions from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, June 30th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $63.33.
Check Out Our Latest Research Report on Penguin Solutions
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently modified their holdings of PENG. BlackRock Inc. bought a new position in shares of Penguin Solutions in the 2nd quarter valued at approximately $581,658,000. California State Teachers Retirement System boosted its holdings in shares of Penguin Solutions by 5,256.9% during the 2nd quarter. California State Teachers Retirement System now owns 3,995,162 shares of the company's stock worth $303,672,000 after buying an additional 3,920,582 shares during the period. Dimensional Fund Advisors LP bought a new stake in shares of Penguin Solutions during the 3rd quarter worth $60,264,000. Barrow Hanley Mewhinney & Strauss LLC acquired a new position in Penguin Solutions in the 2nd quarter valued at $150,192,000. Finally, Invesco Ltd. grew its stake in Penguin Solutions by 596.8% in the 4th quarter. Invesco Ltd. now owns 1,992,415 shares of the company's stock valued at $38,972,000 after buying an additional 1,706,482 shares during the last quarter.
About Penguin Solutions
(
Get Free Report)
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.
See Also
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
