Paradigm Capital Management Inc. NY Has $28.25 Million Stock Position in Penguin Solutions, Inc. $PENG

Paradigm Capital Management Inc. NY lifted its position in Penguin Solutions, Inc. (NASDAQ:PENG) by 73.8% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,605,100 shares of the company’s stock after buying an additional 681,700 shares during the quarter. Penguin Solutions comprises approximately 1.1% of Paradigm Capital Management Inc. NY’s holdings, making the stock its 22nd largest position. Paradigm Capital Management Inc. NY’s holdings in Penguin Solutions were worth $28,250,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Farther Finance Advisors LLC grew its stake in Penguin Solutions by 187.0% in the 4th quarter. Farther Finance Advisors LLC now owns 1,452 shares of the company’s stock valued at $28,000 after buying an additional 946 shares during the last quarter. Kestra Advisory Services LLC bought a new position in Penguin Solutions in the 4th quarter worth $29,000. Raymond James Financial Inc. acquired a new position in Penguin Solutions during the 2nd quarter worth $37,000. Allworth Financial LP lifted its position in Penguin Solutions by 41.4% during the 3rd quarter. Allworth Financial LP now owns 1,792 shares of the company’s stock worth $47,000 after acquiring an additional 525 shares during the last quarter. Finally, Torren Management LLC bought a new stake in Penguin Solutions during the fourth quarter valued at about $48,000.

Penguin Solutions Price Performance

Shares of Penguin Solutions stock opened at $53.85 on Friday. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.54 and a quick ratio of 1.10. The company has a market cap of $2.76 billion, a PE ratio of 38.19 and a beta of 2.83. The firm has a fifty day moving average price of $62.97 and a two-hundred day moving average price of $36.89. Penguin Solutions, Inc. has a fifty-two week low of $16.04 and a fifty-two week high of $89.86.

Penguin Solutions (NASDAQ:PENG) last posted its quarterly earnings data on Tuesday, July 7th. The company reported $0.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.63 by $0.21. The company had revenue of $478.71 million for the quarter, compared to the consensus estimate 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 firm posted $0.52 EPS. Analysts expect that Penguin Solutions, Inc. will post 2.08 EPS for the current year.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on PENG shares. Citizens Jmp raised their price target on Penguin Solutions from $65.00 to $85.00 and gave the company a “market outperform” rating in a research report 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. Needham & Company LLC increased their target price on Penguin Solutions from $60.00 to $80.00 and gave the company a “buy” rating in a research note on Wednesday, July 8th. Zacks Research upgraded Penguin Solutions from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, June 30th. Finally, Citigroup reaffirmed an “outperform” rating on shares of Penguin Solutions in a report on Wednesday, July 8th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $63.33.

Insider Transactions at Penguin Solutions

In related news, SVP Anne Kuykendall sold 4,000 shares of Penguin Solutions stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $64.38, for a total transaction of $257,520.00. Following the sale, the senior vice president directly owned 120,794 shares of the company’s stock, valued at $7,776,717.72. This trade represents a 3.21% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Sandeep Nayyar sold 7,107 shares of the business’s stock in a transaction dated Tuesday, May 12th. The shares were sold at an average price of $43.48, for a total value of $309,012.36. Following the transaction, the director owned 25,417 shares in the company, valued at $1,105,131.16. This represents a 21.85% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 58,351 shares of company stock valued at $2,859,351 in the last ninety days. 2.90% of the stock is owned by corporate insiders.

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.