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In recent activity reported to the SEC, Jack A. Pacheco, Executive Vice President and Chief Operating Officer at Penguin Solutions, Inc. (NASDAQ:PENG), executed a notable stock transaction. With the company currently valued at $1.1 billion and showing strong return over the last three months, Pacheco sold 6,667 ordinary shares at an average price of $22.138 per share, resulting in a total sale value of approximately $147,594. This transaction was conducted under a pre-established Rule 10b5-1 trading plan. According to InvestingPro analysis, the stock appears undervalued based on its Fair Value assessment.
Additionally, Pacheco exercised stock options to acquire 6,667 ordinary shares at a price of $9.195 per share, totaling $61,303. Following these transactions, Pacheco holds 231,548 shares of Penguin Solutions. While the company’s stock has shown price volatility, analysts maintain a bullish outlook with price targets ranging from $23 to $30.
The sale was executed in multiple trades, with prices ranging from $21.88 to $22.45. The weighted average sale price was reported as $22.138. InvestingPro subscribers can access 8 additional key insights about Penguin Solutions, including detailed financial health metrics and growth forecasts in the comprehensive Pro Research Report.
In other recent news, Penguin Solutions reported strong first-quarter financial results, surpassing Wall Street expectations. The company posted adjusted earnings per share of $0.49, exceeding the analyst consensus of $0.39, and achieved revenue of $341 million, which outperformed the estimated $320.17 million. This marks a 24.4% increase year-over-year, with the Advanced Computing segment contributing significantly with a 49% rise in revenue to $177.4 million. In addition, the Integrated Memory segment saw a 12.9% increase in revenue, while the Optimized LED segment experienced a 4% decline. Needham analysts maintained a ’Buy’ rating on Penguin Solutions, raising the price target to $27, citing the Advanced Computing segment’s potential for further growth. Furthermore, Cree (NYSE:WOLF) LED, a brand under Penguin Solutions, launched new XLamp XP-L Photo Red S Line LEDs, enhancing efficiency and lifespan for horticulture lighting. The company also held its 2025 Annual General Meeting, where shareholders approved executive compensation and elected new board members. Penguin Solutions reaffirmed its full-year fiscal 2025 outlook, projecting revenue growth of 15% year-over-year.
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