Hsbc Holdings PLC Takes $3.17 Million Position in Penguin Solutions, Inc. $PENG

Hsbc Holdings PLC bought a new stake in Penguin Solutions, Inc. (NASDAQ:PENG) in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 189,244 shares of the company’s stock, valued at approximately $3,174,000. Hsbc Holdings PLC owned about 0.36% of Penguin Solutions as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the business. Wellington Management Group LLP acquired a new stake in shares of Penguin Solutions in the first quarter valued at about $13,531,000. Northern Trust Corp acquired a new stake in shares of Penguin Solutions in the first quarter valued at about $10,837,000. American Century Companies Inc. acquired a new stake in shares of Penguin Solutions in the first quarter valued at about $13,902,000. Fox Run Management L.L.C. acquired a new stake in shares of Penguin Solutions in the first quarter valued at about $877,000. Finally, Public Sector Pension Investment Board purchased a new stake in shares of Penguin Solutions in the first quarter valued at about $2,935,000.

Analyst Upgrades and Downgrades

PENG has been the subject of a number of analyst reports. Wall Street Zen lowered shares of Penguin Solutions from a “strong-buy” rating to a “buy” rating in a report on Saturday, July 12th. Rosenblatt Securities reissued a “buy” rating and issued a $27.00 price objective on shares of Penguin Solutions in a report on Monday, August 11th. Loop Capital upped their price objective on shares of Penguin Solutions from $30.00 to $35.00 and gave the company a “buy” rating in a report on Monday, July 14th. The Goldman Sachs Group upped their price objective on shares of Penguin Solutions from $22.50 to $25.00 and gave the company a “buy” rating in a report on Wednesday, July 9th. Finally, JMP Securities reissued a “market outperform” rating and issued a $26.00 price objective on shares of Penguin Solutions in a report on Wednesday, July 9th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $27.13.

Insider Activity

In related news, Director Penny Herscher sold 2,046 shares of the firm’s stock in a transaction that occurred on Tuesday, July 15th. The shares were sold at an average price of $25.42, for a total value of $52,009.32. Following the sale, the director owned 18,222 shares of the company’s stock, valued at $463,203.24. This trade represents a 10.09% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Jack A. Pacheco sold 63,447 shares of the firm’s stock in a transaction that occurred on Monday, July 21st. The shares were sold at an average price of $24.83, for a total transaction of $1,575,389.01. Following the completion of the sale, the executive vice president directly owned 227,231 shares in the company, valued at approximately $5,642,145.73. This trade represents a 21.83% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 66,175 shares of company stock worth $1,644,448 in the last three months. Corporate insiders own 2.60% of the company’s stock.

Penguin Solutions Trading Down 0.2%

Shares of PENG stock opened at $24.43 on Wednesday. The firm has a market cap of $1.28 billion, a PE ratio of -87.25 and a beta of 2.02. Penguin Solutions, Inc. has a 1-year low of $14.20 and a 1-year high of $25.94. The company has a debt-to-equity ratio of 1.08, a current ratio of 2.62 and a quick ratio of 2.24. The company has a 50-day moving average of $22.97 and a two-hundred day moving average of $19.97.

Penguin Solutions (NASDAQ:PENG) last issued its quarterly earnings results on Tuesday, July 8th. The company reported $0.47 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.30 by $0.17. The business had revenue of $324,251 billion for the quarter, compared to analysts’ expectations of $330.82 million. Penguin Solutions had a negative net margin of 0.68% and a positive return on equity of 13.27%. Penguin Solutions has set its FY 2025 guidance at 1.750-1.850 EPS. On average, analysts predict that Penguin Solutions, Inc. will post 1.05 EPS for the current year.

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.