Foundry Partners LLC Takes $11.99 Million Position in Penguin Solutions, Inc. (NASDAQ:PENG)

Foundry Partners LLC purchased a new stake in Penguin Solutions, Inc. (NASDAQ:PENG) during the first quarter, HoldingsChannel.com reports. The firm purchased 690,214 shares of the company’s stock, valued at approximately $11,989,000.

A number of other large investors also recently made changes to their positions in PENG. Crews Bank & Trust acquired a new stake in Penguin Solutions during the 1st quarter worth $28,000. CWM LLC acquired a new stake in shares of Penguin Solutions in the 1st quarter valued at about $39,000. Cambridge Investment Research Advisors Inc. bought a new position in shares of Penguin Solutions in the 1st quarter valued at about $188,000. Oregon Public Employees Retirement Fund bought a new position in shares of Penguin Solutions in the 1st quarter valued at about $212,000. Finally, New York State Teachers Retirement System bought a new position in shares of Penguin Solutions in the 1st quarter valued at about $248,000.

Insider Activity

In other news, Director Penny Herscher sold 2,046 shares of the stock in a transaction dated Tuesday, July 15th. The shares were 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 of the company’s stock, valued at $463,203.24. This represents a 10.09% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 2.60% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on PENG shares. Needham & Company LLC restated a “buy” rating and set a $27.00 price objective on shares of Penguin Solutions in a report on Wednesday, July 9th. The Goldman Sachs Group boosted their price objective on Penguin Solutions from $22.50 to $25.00 and gave the stock a “buy” rating in a report on Wednesday, July 9th. Rosenblatt Securities restated a “buy” rating and set a $27.00 price objective on shares of Penguin Solutions in a report on Thursday, July 3rd. JPMorgan Chase & Co. boosted their price target on Penguin Solutions from $21.00 to $24.00 and gave the company a “neutral” rating in a research note on Thursday. Finally, JMP Securities reiterated a “market outperform” rating and issued a $26.00 price target on shares of Penguin Solutions in a research note on Wednesday, July 9th. One investment 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. Based on data from MarketBeat.com, Penguin Solutions presently has an average rating of “Buy” and a consensus price target of $26.75.

Penguin Solutions Stock Down 1.8%

Shares of PENG opened at $24.43 on Friday. Penguin Solutions, Inc. has a one year low of $14.20 and a one year high of $25.94. The company has a market cap 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 firm has a 50 day simple moving average of $20.21 and a two-hundred day simple moving average of $19.22.

Penguin Solutions (NASDAQ:PENG) last posted its quarterly earnings data on Tuesday, July 8th. The company reported $0.47 earnings per share for the quarter, beating analysts’ consensus estimates of $0.30 by $0.17. The business had revenue of $324,251 billion during the quarter, compared to the consensus estimate of $330.82 million. Penguin Solutions had a positive return on equity of 13.27% and a negative net margin of 0.68%. Research analysts forecast that Penguin Solutions, Inc. will post 1.05 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.