Penguin Solutions Stock News

FREMONT, Calif.--(BUSINESS WIRE)--Penguin Solutions, Inc. (“Penguin Solutions,” “Penguin,” or the “Company”) (Nasdaq: PENG), the AI Factory Platform Company, today announced that it has entered into a definitive agreement to sell its Cree LED business (“Cree LED”) to Transom Capital Group (“Transom”), a leading operations-focused middle-market private equity firm. The planned divestiture reflec...

FREMONT, Calif.--(BUSINESS WIRE)--Penguin Solutions, Inc. (Nasdaq: PENG), the AI Factory Platform Company, today announced its participation at SC26, the international conference for high-performance computing (HPC), networking, storage, and analysis, taking place November 15-20, 2026, in Chicago.At booth #1723, Penguin Solutions will demonstrate innovations across its Full-Stack AI Factory Pla...

FREMONT, Calif.--(BUSINESS WIRE)--Penguin Solutions, Inc. (Nasdaq: PENG), the AI Factory Platform Company, today announced its newest SMART Modular DDR5 Multi-Ranked Dual In-line Memory Module (MRDIMM), expanding its portfolio of memory solutions designed for AI data centers. Running at industry-leading DDR5-12800 speeds, these new MRDIMMs address growing bandwidth demand created by the exponen...

FREMONT, Calif.--(BUSINESS WIRE)---- $PENG #AI--Penguin Solutions announced the grant of inducement equity awards to SVP & CFO, Stephen Cumming, with his employment with the Company on Oct 6, 2026.

Bank of America (BofA) has initiated coverage of Penguin Solutions (NASDAQ: PENG), a memory and AI infrastructure supplier, with a 'Buy' rating and a $100 price objective. The target equals 18 times the bank's forecast 2028 earnings per share of $5.43.

Penguin Solutions (NASDAQ:PENG) shares were up over 15% at $73.88 on Wednesday morning after the artificial intelligence (AI) infrastructure company reported record fourth-quarter results and raised its fiscal 2027 outlook.  The company reported fourth-quarter revenue of $567 million, up 68% from a year earlier, while operating income rose 458% to $69 million.

Penguin Solutions delivered the kind of quarter needed to defend a 228% stock rally, but the valuation question has not disappeared. The AI infrastructure company reported an 888% jump in quarterly net income to $93 million, while revenue rose 68% to a record $567 million.