Add as a preferred source on GooglePenguin Solutions Stock Closes 2.9% Higher Amid Takeover Talk
The stock reached $55.74 during the session, while fiscal fourth-quarter net sales increased 68% year over year.
Penguin Solutions shares closed 2.9% higher Friday, Oct. 23, as traders circulated takeover speculation linked to an alert attributed to Ben Harrington, but no prospective buyer was identified.
The stock ended at $53.41, up $1.50 from the previous session, after reaching $55.74. No offer price, transaction terms or timetable were confirmed.
In an Oct. 6 earnings release, Penguin reported $567 million in net sales for its fiscal fourth quarter, which ended Aug. 28. That was a 68% increase from the year-earlier quarter. Fiscal 2026 net sales rose 26% to $1.73 billion.
President and CEO Kash Shaikh said, “As we enter fiscal 2027, our memory business remains strong, and our AI Infrastructure business is accelerating further.” The release also said Penguin launched its AI Factory Platform and raised its fiscal 2027 outlook.
John Kim
John Kim reports on the digital-asset business for TokenPost. Send corrections or tips to info@tokenpost.com.