William Blair Investment Management LLC Makes New Investment in Penguin Solutions, Inc. $PENG

William Blair Investment Management LLC bought a new position in Penguin Solutions, Inc. (NASDAQ:PENG) during the 4th quarter, Holdings Channel.com reports. The fund bought 935,088 shares of the company’s stock, valued at approximately $18,290,000.

Other hedge funds have also recently modified their holdings of the company. Kennedy Capital Management LLC lifted 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 buying an additional 240,159 shares in the last quarter. State of Alaska Department of Revenue lifted 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 buying an additional 23,582 shares in the last quarter. Barclays PLC lifted its holdings in shares of Penguin Solutions by 46.9% in the third quarter. Barclays PLC now owns 1,055,189 shares of the company’s stock worth $27,730,000 after buying an additional 336,644 shares in the last quarter. American Century Companies Inc. lifted its holdings in shares of Penguin Solutions by 35.3% in the third quarter. American Century Companies Inc. now owns 1,294,279 shares of the company’s stock worth $34,014,000 after buying an additional 337,564 shares in the last quarter. Finally, LSV Asset Management lifted its holdings in shares of Penguin Solutions by 337.6% in the third quarter. LSV Asset Management now owns 569,368 shares of the company’s stock worth $14,963,000 after buying an additional 439,268 shares in the last quarter.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on PENG shares. Wall Street Zen raised shares of Penguin Solutions from a “hold” rating to a “buy” rating in a report on Sunday, May 17th. Weiss Ratings downgraded shares of Penguin Solutions from a “hold (c)” rating to a “hold (c-)” rating in a report on Wednesday, May 13th. Rosenblatt Securities reissued a “buy” rating and issued a $30.00 target price on shares of Penguin Solutions in a report on Monday, March 30th. Stifel Nicolaus lowered their target price on shares of Penguin Solutions from $27.00 to $24.00 and set a “buy” rating on the stock in a report on Thursday, April 2nd. Finally, Barclays downgraded shares of Penguin Solutions from an “overweight” rating to an “equal weight” rating and boosted their target price for the stock from $23.00 to $27.00 in a report on Wednesday, April 22nd. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $27.25.

Penguin Solutions Price Performance

Penguin Solutions stock opened at $53.21 on Tuesday. The company has a market cap of $2.70 billion, a price-to-earnings ratio of 73.90 and a beta of 2.66. The firm’s fifty day moving average is $29.40 and its 200 day moving average is $23.17. The company has a quick ratio of 1.55, a current ratio of 2.10 and a debt-to-equity ratio of 1.09. Penguin Solutions, Inc. has a 52-week low of $16.04 and a 52-week high of $54.28.

Penguin Solutions (NASDAQ:PENG) last released its quarterly earnings results on Wednesday, April 1st. The company reported $0.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.43 by $0.09. The company had revenue of $343.00 million for the quarter, compared to the consensus estimate of $339.00 million. Penguin Solutions had a net margin of 4.07% and a return on equity of 19.94%. Sell-side analysts forecast that Penguin Solutions, Inc. will post 1.66 EPS for the current fiscal year.

Insider Activity at Penguin Solutions

In related news, Director Sandeep Nayyar sold 7,107 shares of the company’s stock in a transaction on Tuesday, May 12th. The shares were sold at an average price of $43.48, for a total transaction of $309,012.36. Following the sale, the director owned 25,417 shares of the company’s stock, valued at $1,105,131.16. This represents a 21.85% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Joseph Gates Clark sold 5,000 shares of the company’s stock in a transaction on Friday, May 8th. The shares were sold at an average price of $39.99, for a total transaction of $199,950.00. Following the sale, the senior vice president directly owned 76,776 shares in the company, valued at approximately $3,070,272.24. The trade was a 6.11% 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 have sold a total of 68,769 shares of company stock valued at $2,473,051 over the last 90 days. 2.90% of the stock is owned by corporate insiders.

Penguin Solutions Company 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.