Penguin Solutions, Inc. $PENG Shares Purchased by Hsbc Holdings PLC

Hsbc Holdings PLC raised its position in Penguin Solutions, Inc. (NASDAQ:PENG) by 8.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 211,373 shares of the company’s stock after purchasing an additional 15,567 shares during the quarter. Hsbc Holdings PLC owned 0.40% of Penguin Solutions worth $4,170,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in PENG. Dimensional Fund Advisors LP purchased a new position in shares of Penguin Solutions during the third quarter worth $60,264,000. Invesco Ltd. raised its holdings in shares of Penguin Solutions by 596.8% in the 4th quarter. Invesco Ltd. now owns 1,992,415 shares of the company’s stock valued at $38,972,000 after buying an additional 1,706,482 shares during the period. William Blair Investment Management LLC acquired a new position in Penguin Solutions during the 4th quarter worth about $18,290,000. Ophir Asset Management Pty Ltd lifted its stake in Penguin Solutions by 234.3% during the 4th quarter. Ophir Asset Management Pty Ltd now owns 1,211,612 shares of the company’s stock worth $23,699,000 after acquiring an additional 849,178 shares in the last quarter. Finally, ArrowMark Colorado Holdings LLC purchased a new position in Penguin Solutions during the 3rd quarter valued at about $15,789,000.

Analyst Ratings Changes

PENG has been the subject of several research reports. Needham & Company LLC lifted their target price on Penguin Solutions from $25.00 to $27.00 and gave the company a “buy” rating in a research report on Thursday, April 2nd. Weiss Ratings lowered shares of Penguin Solutions from a “hold (c)” rating to a “hold (c-)” rating in a research note on Wednesday, May 13th. Wall Street Zen upgraded shares of Penguin Solutions from a “hold” rating to a “buy” rating in a report on Sunday, May 17th. Rosenblatt Securities upped their target price on shares of Penguin Solutions from $54.00 to $65.00 and gave the stock a “buy” rating in a research note on Tuesday, June 2nd. Finally, Stifel Nicolaus increased their target price on shares of Penguin Solutions from $24.00 to $66.00 and gave the stock a “buy” rating in a report on Tuesday, June 2nd. Six investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $36.88.

Penguin Solutions Stock Performance

NASDAQ:PENG opened at $62.28 on Friday. The firm has a market capitalization of $3.16 billion, a PE ratio of 86.50 and a beta of 2.89. The business’s fifty day moving average price is $50.18 and its 200 day moving average price is $30.36. The company has a debt-to-equity ratio of 1.09, a current ratio of 2.10 and a quick ratio of 1.55. Penguin Solutions, Inc. has a 12 month low of $16.04 and a 12 month high of $77.40.

Penguin Solutions (NASDAQ:PENG) last posted its quarterly earnings results on Wednesday, April 1st. The company reported $0.52 earnings per share 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 analysts’ expectations of $339.00 million. Penguin Solutions had a return on equity of 19.94% and a net margin of 4.07%. On average, sell-side analysts anticipate that Penguin Solutions, Inc. will post 1.79 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 that occurred on Monday, June 15th. The stock was sold at an average price of $64.38, for a total value of $257,520.00. Following the completion of 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 ownership of the stock. The sale 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 Joseph Gates Clark sold 10,351 shares of the stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $58.87, for a total transaction of $609,363.37. Following the completion of the transaction, the senior vice president owned 66,425 shares in the company, valued at $3,910,439.75. This represents a 13.48% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 83,120 shares of company stock worth $3,486,734 over the last 90 days. Insiders own 2.90% of the company’s stock.

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.