Penguin Solutions, Inc. $PENG Stock Sold by Virtus Advisers LLC

Virtus Advisers LLC reduced its position in shares of Penguin Solutions, Inc. (NASDAQ:PENG) by 32.0% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 26,306 shares of the company’s stock after selling 12,375 shares during the quarter. Virtus Advisers LLC’s holdings in Penguin Solutions were worth $1,439,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in PENG. Maverick Capital Ltd. bought a new stake in shares of Penguin Solutions during the first quarter worth approximately $771,000. California State Teachers Retirement System lifted its holdings in Penguin Solutions by 52.8% in the first quarter. California State Teachers Retirement System now owns 74,580 shares of the company’s stock valued at $1,313,000 after buying an additional 25,763 shares during the period. Bank of America Corp DE bought a new position in Penguin Solutions in the second quarter valued at approximately $8,777,000. Pacer Advisors Inc. boosted its stake in Penguin Solutions by 34.0% in the first quarter. Pacer Advisors Inc. now owns 261,776 shares of the company’s stock valued at $4,607,000 after acquiring an additional 66,460 shares during the last quarter. Finally, First Trust Advisors LP boosted its stake in Penguin Solutions by 241.3% in the first quarter. First Trust Advisors LP now owns 49,067 shares of the company’s stock valued at $864,000 after acquiring an additional 34,691 shares during the last quarter.

Wall Street Analyst Weigh In

PENG has been the subject of a number of analyst reports. Barclays lifted their target price on shares of Penguin Solutions from $40.00 to $60.00 and gave the stock an “underweight” rating in a report on Wednesday, October 7th. The Goldman Sachs Group reissued a “buy” rating and issued a $85.00 price target on shares of Penguin Solutions in a research note on Wednesday, October 7th. Zacks Research upgraded Penguin Solutions from a “hold” rating to a “strong-buy” rating in a research report on Friday, October 9th. Deutsche Bank set a $100.00 price objective on Penguin Solutions in a research note on Friday, October 9th. Finally, Rosenblatt Securities reiterated a “buy” rating and issued a $100.00 price objective on shares of Penguin Solutions in a report on Wednesday, November 4th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $87.50.

Insider Transactions at Penguin Solutions

In other news, SVP Anthony George Frey sold 4,631 shares of the firm’s stock in a transaction dated Thursday, October 29th. The stock was sold at an average price of $58.91, for a total transaction of $272,812.21. Following the sale, the senior vice president owned 77,853 shares of the company’s stock, valued at $4,586,320.23. This trade represents a 5.61% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Anne Kuykendall sold 738 shares of Penguin Solutions stock in a transaction dated Thursday, October 22nd. The shares were sold at an average price of $55.08, for a total value of $40,649.04. Following the transaction, the senior vice president owned 141,988 shares in the company, valued at $7,820,699.04. This trade represents a 0.52% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 16,011 shares of company stock valued at $847,239 over the last 90 days. 2.90% of the stock is owned by company insiders.

Penguin Solutions Trading Down 5.5%

Shares of NASDAQ PENG traded down $2.74 during midday trading on Friday, reaching $47.36. 1,397,508 shares of the stock were exchanged, compared to its average volume of 3,141,448. Penguin Solutions, Inc. has a 12 month low of $16.04 and a 12 month high of $89.86. The company has a market capitalization of $2.85 billion, a price-to-earnings ratio of 18.29, a P/E/G ratio of 0.59 and a beta of 2.87. The company has a debt-to-equity ratio of 1.37, a current ratio of 1.88 and a quick ratio of 1.25. The business has a 50-day simple moving average of $55.50 and a two-hundred day simple moving average of $45.20.

Penguin Solutions (NASDAQ:PENG) last released its quarterly earnings data on Tuesday, October 6th. The company reported $1.00 EPS for the quarter, beating analysts’ consensus estimates of $0.77 by $0.23. The business had revenue of $566.68 million during the quarter, compared to analysts’ expectations of $520.99 million. Penguin Solutions had a net margin of 10.43% and a return on equity of 36.71%. During the same quarter in the prior year, the company earned $0.11 EPS. Penguin Solutions has set its FY 2027 guidance at 3.750-5.15 EPS. As a group, equities research analysts expect that Penguin Solutions, Inc. will post 4.05 EPS for the current year.

Penguin Solutions Profile

Penguin Solutions, formerly known as SMART Global Holdings, provides computing and memory technologies for businesses and public-sector organizations. Its offerings include systems for artificial intelligence, high-performance computing and edge computing, as well as memory modules and storage products. The company’s portfolio includes Penguin Computing solutions for advanced computing and AI workloads, Stratus platforms designed for continuous availability, and SMART Modular memory and storage products.