Sei Investments Co. Increases Stake in Penguin Solutions, Inc. $PENG

Sei Investments Co. lifted its position in Penguin Solutions, Inc. (NASDAQ:PENG) by 21.9% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 173,981 shares of the company’s stock after acquiring an additional 31,212 shares during the quarter. Sei Investments Co. owned 0.34% of Penguin Solutions worth $3,062,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the business. Farther Finance Advisors LLC increased its position in Penguin Solutions by 187.0% during the 4th quarter. Farther Finance Advisors LLC now owns 1,452 shares of the company’s stock valued at $28,000 after purchasing an additional 946 shares during the period. Kestra Advisory Services LLC purchased a new stake in shares of Penguin Solutions in the 4th quarter worth approximately $29,000. Raymond James Financial Inc. bought a new position in shares of Penguin Solutions during the second quarter valued at approximately $37,000. Torren Management LLC bought a new position in shares of Penguin Solutions during the fourth quarter valued at approximately $48,000. Finally, Advisory Services Network LLC purchased a new position in Penguin Solutions during the third quarter valued at approximately $50,000.

Penguin Solutions Price Performance

Shares of PENG opened at $58.43 on Friday. The company has a market cap of $2.99 billion, a price-to-earnings ratio of 41.44 and a beta of 2.87. Penguin Solutions, Inc. has a twelve month low of $16.04 and a twelve month 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. The company has a 50 day moving average of $63.27 and a two-hundred day moving average of $39.19.

Penguin Solutions (NASDAQ:PENG) last issued its quarterly earnings results on Tuesday, July 7th. The company reported $0.84 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.63 by $0.21. Penguin Solutions had a return on equity of 28.23% and a net margin of 6.44%.The business had revenue of $478.71 million for the quarter, compared to the consensus estimate of $407.47 million. During the same period in the prior year, the firm posted $0.52 earnings per share. As a group, analysts predict that Penguin Solutions, Inc. will post 2.08 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, SVP Anne Kuykendall sold 4,000 shares of the company’s 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 transaction, the senior vice president directly owned 120,794 shares of the company’s stock, valued at $7,776,717.72. This represents a 3.21% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Sandeep Nayyar sold 12,893 shares of the firm’s stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $45.09, for a total value of $581,345.37. Following the completion of the sale, the director directly owned 32,524 shares of the company’s stock, valued at approximately $1,466,507.16. This represents a 28.39% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 54,678 shares of company stock valued at $2,735,664 in the last 90 days. Corporate insiders own 2.90% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on PENG. Citizens Jmp upped their target price on Penguin Solutions from $65.00 to $85.00 and gave the stock a “market outperform” rating in a report on Wednesday, July 8th. Citigroup reiterated an “outperform” rating on shares of Penguin Solutions in a report on Wednesday, July 8th. Needham & Company LLC boosted their price target on Penguin Solutions from $60.00 to $80.00 and gave the stock a “buy” rating in a research report 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, Rosenblatt Securities raised their price objective on Penguin Solutions from $65.00 to $75.00 and gave the company a “buy” rating in a research report on Monday, July 6th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Penguin Solutions presently has a consensus rating of “Moderate Buy” and a consensus price target of $63.33.

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.