Penguin Solutions
Builds AI computing infrastructure alongside fault-tolerant systems, specialty memory, and LED components.
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Profile
Builds and manages AI and high-performance computing infrastructure, sells Stratus fault-tolerant systems, supplies SMART Modular memory and storage products, and offers Cree LED components. Revenue spans product sales and services across its operating segments, with results tied to large deployment timing, component suppliers, memory and LED demand, and a concentrated customer base.
Designs, builds, deploys, and manages AI and high-performance computing infrastructure through Advanced Computing, combining OriginAI architectures, ICE ClusterWare software, expert services, and Stratus fault-tolerant platforms for data centers and edge sites.
Integrated Memory supplies SMART Modular DRAM, flash storage, CXL memory, ruggedized modules, and supply-chain services, while Optimized LED sells Cree LED components for lighting, video displays, and specialty applications. Operations span the Americas, Europe, and Asia, with most employees in the United States, China, and Malaysia.
Combines prevalidated architectures, cluster-management software, deployment expertise, and managed services to move customized systems into production and keep them optimized. The model depends on third-party compute, networking, storage, memory, and LED suppliers, a limited set of key vendors and customers, technology spending, government appropriations, and project timing.
Company facts
Key statistics
Year to date +144% · Average volume (30d) 2.2M
Analysts
Ratings
Target range
Latest analyst notes
| Date | Firm | Action | Prior rating | Rating | Prior target | Target |
|---|---|---|---|---|---|---|
| Jul 20, 2026 | Barclays | Downgrade | Overweight | Underweight | ||
| Jul 9, 2026 | Barclays | Reiterate | Equal Weight | $23 | $40 | |
| Jul 8, 2026 | Needham | Reiterate | Buy | $25 | $80 | |
| Jul 8, 2026 | Stifel Nicolaus | Target | $66 | $75 | ||
| Jun 2, 2026 | Stifel Nicolaus | Target | $31 | $66 |
Earnings
EPS
Revenue
History
| Report date | EPS est | EPS | Surprise | Revenue est | Revenue | Surprise | Next session |
|---|---|---|---|---|---|---|---|
| Jul 7, 2026Q3 FY26 | $0.54 | $0.84 | +55.8% | $407.5M | $478.7M | +17.5% | +25.13% |
| Apr 1, 2026Q2 FY26 | $0.43 | $0.52 | +20.9% | $339.0M | $343.0M | +1.2% | +13.37% |
| Jan 6, 2026Q1 FY26 | $0.41 | $0.49 | +19.5% | $338.4M | $343.1M | +1.4% | −13.78% |
| Oct 7, 2025Q4 FY25 | $0.37 | $0.43 | +14.8% | $342.1M | $337.9M | −1.2% | −16.00% |
Financial highlights
| 12 quarters | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | |
|---|---|---|---|---|---|---|---|
| Revenue | $365.5M | $324.3M | $337.9M | $343.1M | $343.0M | $478.7M | |
| Gross profit | $104.7M | $95.1M | $96.7M | $95.6M | $93.7M | $133.2M | |
| Operating income | $18.5M | $9.8M | $12.4M | $23.8M | $25.7M | $50.9M | |
| Net income | $8.1M | $2.7M | $9.4M | $5.0M | $37.5M | $44.7M | |
| Diluted EPS | $0.09 | −$0.01 | $0.10 | $0.04 | $0.58 | $0.68 | |
| Gross margin | 28.7% | 29.3% | 28.6% | 27.9% | 27.3% | 27.8% | |
| Operating margin | 5.1% | 3.0% | 3.7% | 6.9% | 7.5% | 10.6% |
Fiscal years (4-quarter sums)FY21 $1.50B · FY22 $1.82B · FY23 $1.44B · FY24 $1.17B · FY25 $1.37B
Revenue by geography · FY25
Balance sheet, May 29, 2026Cash & short-term investments $440.3M · Total debt $502.5M · Total assets $2.19B · Shareholders' equity $439.1M
Dividends
No dividends on record.
Ownership
A 13F quarter can total more than the shares outstanding — sub-advisers file the same block twice, and a filer's own share count can be a quarter stale. No split is drawn from it.
Shares outstanding 51.24M · Float 48.98M · 95.6% free float
Top shareholders13F · 13D/G · Form 4
| Holder | Shares | % outstanding | Form | Filed |
|---|---|---|---|---|
| BlackRock, Inc. | 7.65M | 14.93% | 13F | Aug 7, 2026 |
| FMR LLC | 6.17M | 12.03% | 13F | Aug 13, 2026 |
| Astra AI Infra LLC | 6.10M | 10.30% | 13D | Jul 28, 2026 |
| Bank of Nova Scotia | 4.44M | 8.52% | 13G | Jul 15, 2026 |
| Invesco Ltd. | 3.99M | 7.60% | 13G | Aug 13, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Aug 24, 2026 | Anne Kuykendall | officer: SVP and Chief Legal Officer | −4,000 | $50.58 |
| Jul 23, 2026 | Joseph Gates Clark | officer: SVP and Pres, Optimized LED | −1,327 | $57.47 |
| Jul 22, 2026 | Anne Kuykendall | officer: SVP and Chief Legal Officer | −739 | $56.12 |
| Jun 15, 2026 | Anne Kuykendall | officer: SVP and Chief Legal Officer | −4,000 | $64.38 |
| Jun 1, 2026 | Joseph Gates Clark | officer: SVP and Pres, Optimized LED | −10,351 | $58.87 |
Peers
- Super Micro Computer
Rack-scale AI and HPC systems overlap advanced computing
- Dell Technologies
Enterprise AI infrastructure and services overlap OriginAI
- Hewlett Packard Enterprise
HPC and AI supercomputing systems contest advanced computing
- Micron Technology
Data-center memory and SSDs overlap integrated memory
CompareAfter-hours close
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Penguin Solutions | $49.26 | −0.59% | $2.54B | 35.5 | 15.6 | 1.7 | +47.6% |
| Super Micro Computer | $37.08 | 0.00% | $23.99B | 11.4 | 8.5 | 0.6 | +93.2% |
| Dell Technologies | $456.09 | +0.00% | $302.80B | 36.2 | 23.7 | 2.3 | +87.5% |
| Hewlett Packard Enterprise | $52.56 | +0.50% | $69.26B | 49.8 | 13.4 | 1.8 | +40.0% |
| Micron Technology | $931.00 | −0.20% | $1.05T | 21.1 | 6.5 | 11.7 | +345.7% |
| Median | 28.7 | 10.9 | 2.0 | +90.4% |