Penguin Solutions, Inc. (NASDAQ:PENG) Director Penny Herscher Sells 2,046 Shares

Penguin Solutions, Inc. (NASDAQ:PENG) Director Penny Herscher sold 2,046 shares of the business’s stock in a transaction dated Tuesday, July 15th. The stock was sold at an average price of $25.42, for a total transaction of $52,009.32. Following the transaction, the director owned 18,222 shares in the company, valued at approximately $463,203.24. The trade was a 10.09% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Penny Herscher also recently made the following trade(s):

• On Thursday, July 17th, Penny Herscher sold 682 shares of Penguin Solutions stock. The shares were sold at an average price of $25.00, for a total transaction of $17,050.00.

Penguin Solutions Trading Down 1.8%

Shares of NASDAQ PENG opened at $24.43 on Friday. Penguin Solutions, Inc. has a fifty-two week low of $14.20 and a fifty-two week high of $25.94. The firm has a market capitalization of $1.28 billion, a P/E ratio of -87.25 and a beta of 1.98. The company has a debt-to-equity ratio of 1.08, a current ratio of 2.62 and a quick ratio of 2.24. The company’s 50 day simple moving average is $20.21 and its 200 day simple moving average is $19.22.

Penguin Solutions (NASDAQ:PENG) last released its earnings results on Tuesday, July 8th. The company reported $0.47 earnings per share for the quarter, beating the consensus estimate of $0.30 by $0.17. Penguin Solutions had a positive return on equity of 13.27% and a negative net margin of 0.68%. The firm had revenue of $324,251 billion for the quarter, compared to analyst estimates of $330.82 million. On average, analysts predict that Penguin Solutions, Inc. will post 1.05 EPS for the current year.

Institutional Investors Weigh In On Penguin Solutions

Large investors have recently made changes to their positions in the stock. Robeco Institutional Asset Management B.V. bought a new position in shares of Penguin Solutions during the 2nd quarter worth approximately $1,122,000. State of Alaska Department of Revenue grew its position in Penguin Solutions by 6.3% in the second quarter. State of Alaska Department of Revenue now owns 31,383 shares of the company’s stock valued at $621,000 after purchasing an additional 1,855 shares in the last quarter. North Star Investment Management Corp. bought a new position in Penguin Solutions in the second quarter valued at $1,550,000. GAMMA Investing LLC acquired a new stake in Penguin Solutions in the 2nd quarter valued at $158,000. Finally, UMB Bank n.a. bought a new stake in Penguin Solutions during the 2nd quarter worth about $44,000.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on PENG. The Goldman Sachs Group upped their price target on Penguin Solutions from $22.50 to $25.00 and gave the company a “buy” rating in a research report on Wednesday, July 9th. JMP Securities reaffirmed a “market outperform” rating and issued a $26.00 target price on shares of Penguin Solutions in a report on Wednesday, July 9th. Loop Capital set a $35.00 target price on shares of Penguin Solutions and gave the stock a “buy” rating in a research report on Monday. JPMorgan Chase & Co. boosted their price target on shares of Penguin Solutions from $21.00 to $24.00 and gave the company a “neutral” rating in a research report on Thursday. Finally, Wall Street Zen cut shares of Penguin Solutions from a “strong-buy” rating to a “buy” rating in a research note on Saturday, July 12th. One equities research analyst has rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Penguin Solutions currently has an average rating of “Buy” and an average price target of $26.75.

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.