Penguin Solutions (PENG)
Market Price (9/20/2026): $53.1 | Market Cap: $2.7 BilSector: Information Technology | Industry: Semiconductors
Penguin Solutions (PENG)
Market Price (9/20/2026): $53.1Market Cap: $2.7 BilSector: Information TechnologyIndustry: Semiconductors
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
Megatrend and thematic driversMegatrends include Artificial Intelligence, and Cloud Computing. Themes include Data Centers & Infrastructure, AI Software Platforms, Show more. | Meaningful short interestShort Interest % of Basic SharesShort Interest % of Basic Shares = (Short Interest Quantity) / (Basic Shares Outstanding). A high fraction of short interest can indicate potential risk of a short squeeze. is 13% | Stock price has recently run up significantly6M Rtn6 month market price return is 204% Not cash flow generativeCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is -3.9%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -4.6% Valuation getting more expensiveP/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is 165% Key risksPENG key risks include [1] significant margin compression from intense competition in the AI infrastructure market, Show more. |
| Megatrend and thematic driversMegatrends include Artificial Intelligence, and Cloud Computing. Themes include Data Centers & Infrastructure, AI Software Platforms, Show more. |
| Meaningful short interestShort Interest % of Basic SharesShort Interest % of Basic Shares = (Short Interest Quantity) / (Basic Shares Outstanding). A high fraction of short interest can indicate potential risk of a short squeeze. is 13% |
| Stock price has recently run up significantly6M Rtn6 month market price return is 204% |
| Not cash flow generativeCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is -3.9%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -4.6% |
| Valuation getting more expensiveP/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is 165% |
| Key risksPENG key risks include [1] significant margin compression from intense competition in the AI infrastructure market, Show more. |
Qualitative Assessment
AI Analysis | Feedback
Updated on 9/17/2026
Penguin Solutions (PENG) stock has lost about 5% since 5/31/2026 because of the following key factors:
1. Analyst Downgrade and Price Target Reduction Impacted Sentiment.
On July 20, 2026, Barclays downgraded Penguin Solutions from an "Equal Weight" rating to "Underweight" and significantly reduced its price target for the stock to $40.00. This downgrade, coming after a period of strong performance and just after a positive earnings report, likely contributed to a shift in investor sentiment and put downward pressure on the stock.
2. Profit-Taking and Valuation Adjustments Followed Strong Q3 Fiscal 2026 Earnings.
Penguin Solutions reported record Q3 fiscal 2026 results on July 7, 2026, with an Earnings Per Share (EPS) of $0.84, significantly beating the consensus estimate of $0.63, and revenue of $478.71 million, exceeding the $407.47 million consensus. The stock initially surged by over 25% following this announcement. However, in the 69 days following this earnings release, the stock "drifted -34.8% lower", suggesting that investors engaged in significant profit-taking and re-evaluated the stock's valuation after its rapid ascent. Concerns about "weaker memory pricing, elevated working-capital requirements, dilution, and slower margin conversion" were also noted as risks.
Show more
Penguin Solutions (PENG) stock has lost about 5% since 5/31/2026 because of the following key factors:
1. Analyst Downgrade and Price Target Reduction Impacted Sentiment.
On July 20, 2026, Barclays downgraded Penguin Solutions from an "Equal Weight" rating to "Underweight" and significantly reduced its price target for the stock to $40.00. This downgrade, coming after a period of strong performance and just after a positive earnings report, likely contributed to a shift in investor sentiment and put downward pressure on the stock.
2. Profit-Taking and Valuation Adjustments Followed Strong Q3 Fiscal 2026 Earnings.
Penguin Solutions reported record Q3 fiscal 2026 results on July 7, 2026, with an Earnings Per Share (EPS) of $0.84, significantly beating the consensus estimate of $0.63, and revenue of $478.71 million, exceeding the $407.47 million consensus. The stock initially surged by over 25% following this announcement. However, in the 69 days following this earnings release, the stock "drifted -34.8% lower", suggesting that investors engaged in significant profit-taking and re-evaluated the stock's valuation after its rapid ascent. Concerns about "weaker memory pricing, elevated working-capital requirements, dilution, and slower margin conversion" were also noted as risks.
Show more
Updated on 9/17/2026
Penguin Solutions (PENG) stock has lost about 5% since 5/31/2026 because of the following key factors:
1. Analyst Downgrade and Price Target Reduction Impacted Sentiment.
On July 20, 2026, Barclays downgraded Penguin Solutions from an "Equal Weight" rating to "Underweight" and significantly reduced its price target for the stock to $40.00. This downgrade, coming after a period of strong performance and just after a positive earnings report, likely contributed to a shift in investor sentiment and put downward pressure on the stock.
2. Profit-Taking and Valuation Adjustments Followed Strong Q3 Fiscal 2026 Earnings.
Penguin Solutions reported record Q3 fiscal 2026 results on July 7, 2026, with an Earnings Per Share (EPS) of $0.84, significantly beating the consensus estimate of $0.63, and revenue of $478.71 million, exceeding the $407.47 million consensus. The stock initially surged by over 25% following this announcement. However, in the 69 days following this earnings release, the stock "drifted -34.8% lower", suggesting that investors engaged in significant profit-taking and re-evaluated the stock's valuation after its rapid ascent. Concerns about "weaker memory pricing, elevated working-capital requirements, dilution, and slower margin conversion" were also noted as risks.
3. Broader Tech Sector and AI-Specific Headwinds Created Downward Pressure.
The stock experienced a "jolt" from "AI slowdown call from top tech CEOs" on September 17, 2026. This company-specific news regarding its critical AI business coincided with a broader macroeconomic environment where "higher interest rates can put pressure on high-growth technology stocks and expensive AI valuations," as noted in September 2026. The overall monetary tightening environment, with the Federal Reserve raising interest rates, also contributed to "compressing valuation multiples across the tech sector." These combined factors likely dampened investor enthusiasm for growth stocks like Penguin Solutions, despite its strong underlying AI-driven demand.
Show less
Penguin Solutions (PENG) stock has lost about 5% since 5/31/2026 because of the following key factors:
1. Analyst Downgrade and Price Target Reduction Impacted Sentiment.
On July 20, 2026, Barclays downgraded Penguin Solutions from an "Equal Weight" rating to "Underweight" and significantly reduced its price target for the stock to $40.00. This downgrade, coming after a period of strong performance and just after a positive earnings report, likely contributed to a shift in investor sentiment and put downward pressure on the stock.
2. Profit-Taking and Valuation Adjustments Followed Strong Q3 Fiscal 2026 Earnings.
Penguin Solutions reported record Q3 fiscal 2026 results on July 7, 2026, with an Earnings Per Share (EPS) of $0.84, significantly beating the consensus estimate of $0.63, and revenue of $478.71 million, exceeding the $407.47 million consensus. The stock initially surged by over 25% following this announcement. However, in the 69 days following this earnings release, the stock "drifted -34.8% lower", suggesting that investors engaged in significant profit-taking and re-evaluated the stock's valuation after its rapid ascent. Concerns about "weaker memory pricing, elevated working-capital requirements, dilution, and slower margin conversion" were also noted as risks.
3. Broader Tech Sector and AI-Specific Headwinds Created Downward Pressure.
The stock experienced a "jolt" from "AI slowdown call from top tech CEOs" on September 17, 2026. This company-specific news regarding its critical AI business coincided with a broader macroeconomic environment where "higher interest rates can put pressure on high-growth technology stocks and expensive AI valuations," as noted in September 2026. The overall monetary tightening environment, with the Federal Reserve raising interest rates, also contributed to "compressing valuation multiples across the tech sector." These combined factors likely dampened investor enthusiasm for growth stocks like Penguin Solutions, despite its strong underlying AI-driven demand.
Show less
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Stock Movement Drivers
Fundamental Drivers
The -4.5% change in PENG stock from 5/31/2026 to 9/19/2026 was primarily driven by a -47.3% change in the company's P/E Multiple.| (LTM values as of) | 5312026 | 9192026 | Change |
|---|---|---|---|
| Stock Price ($) | 55.83 | 53.30 | -4.5% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 1,348 | 1,503 | 11.5% |
| Net Income Margin (%) | 4.1% | 6.4% | 58.5% |
| P/E Multiple | 53.3 | 28.1 | -47.3% |
| Shares Outstanding (Mil) | 52 | 51 | 2.5% |
| Cumulative Contribution | -4.5% |
Market Drivers
5/31/2026 to 9/19/2026| Return | Correlation | |
|---|---|---|
| PENG | -4.5% | |
| Market (SPY) | 0.9% | 54.9% |
| Sector (XLK) | -0.7% | 76.2% |
Fundamental Drivers
The 156.5% change in PENG stock from 2/28/2026 to 9/19/2026 was primarily driven by a 247.2% change in the company's Net Income Margin (%).| (LTM values as of) | 2282026 | 9192026 | Change |
|---|---|---|---|
| Stock Price ($) | 20.78 | 53.30 | 156.5% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 1,371 | 1,503 | 9.6% |
| Net Income Margin (%) | 1.9% | 6.4% | 247.2% |
| P/E Multiple | 43.2 | 28.1 | -35.0% |
| Shares Outstanding (Mil) | 53 | 51 | 3.7% |
| Cumulative Contribution | 156.5% |
Market Drivers
2/28/2026 to 9/19/2026| Return | Correlation | |
|---|---|---|
| PENG | 156.5% | |
| Market (SPY) | 11.6% | 55.2% |
| Sector (XLK) | 36.8% | 74.0% |
Fundamental Drivers
The 120.9% change in PENG stock from 8/31/2025 to 9/19/2026 was primarily driven by a 89.4% change in the company's P/S Multiple.| (LTM values as of) | 8312025 | 9192026 | Change |
|---|---|---|---|
| Stock Price ($) | 24.13 | 53.30 | 120.9% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 1,342 | 1,503 | 12.0% |
| P/S Multiple | 1.0 | 1.8 | 89.4% |
| Shares Outstanding (Mil) | 53 | 51 | 4.2% |
| Cumulative Contribution | 120.9% |
Market Drivers
8/31/2025 to 9/19/2026| Return | Correlation | |
|---|---|---|
| PENG | 120.9% | |
| Market (SPY) | 19.4% | 51.6% |
| Sector (XLK) | 45.1% | 65.6% |
Fundamental Drivers
The 106.3% change in PENG stock from 8/31/2023 to 9/19/2026 was primarily driven by a 61.5% change in the company's P/S Multiple.| (LTM values as of) | 8312023 | 9192026 | Change |
|---|---|---|---|
| Stock Price ($) | 25.83 | 53.30 | 106.3% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 1,139 | 1,503 | 32.0% |
| P/S Multiple | 1.1 | 1.8 | 61.5% |
| Shares Outstanding (Mil) | 49 | 51 | -3.2% |
| Cumulative Contribution | 106.3% |
Market Drivers
8/31/2023 to 9/19/2026| Return | Correlation | |
|---|---|---|
| PENG | 106.3% | |
| Market (SPY) | 75.6% | 49.1% |
| Sector (XLK) | 119.9% | 58.8% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| PENG Return | 89% | -58% | 27% | 1% | 2% | 169% | 179% |
| Peers Return | 62% | -8% | 144% | 49% | 28% | 148% | 1608% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | 12% | 103% |
Monthly Win Rates [3] | |||||||
| PENG Win Rate | 67% | 25% | 50% | 75% | 50% | 56% | |
| Peers Win Rate | 60% | 42% | 67% | 57% | 53% | 67% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 44% | |
Max Drawdowns [4] | |||||||
| PENG Max Drawdown | -27% | -65% | -55% | -49% | -40% | -46% | |
| Peers Max Drawdown | -20% | -46% | -23% | -47% | -44% | -29% | |
| S&P 500 Max Drawdown | -5% | -25% | -10% | -8% | -19% | -9% | |
[1] Cumulative total returns since the beginning of 2021
[2] Peers: SMCI, DELL, HPE, NVDA, AMD.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 9/18/2026 (YTD)
How Low Can It Go
| Event | PENG | S&P 500 |
|---|---|---|
| 2025 US Tariff Shock | ||
| % Loss | -34.6% | -18.8% |
| % Gain to Breakeven | 52.9% | 23.1% |
| Time to Breakeven | 92 days | 79 days |
| 2024 Yen Carry Trade Unwind | ||
| % Loss | -36.2% | -7.8% |
| % Gain to Breakeven | 56.8% | 8.5% |
| Time to Breakeven | 625 days | 18 days |
| Summer-Fall 2023 Five Percent Yield Shock | ||
| % Loss | -49.7% | -9.5% |
| % Gain to Breakeven | 98.8% | 10.5% |
| Time to Breakeven | 160 days | 24 days |
| 2023 SVB Regional Banking Crisis | ||
| % Loss | -18.1% | -6.7% |
| % Gain to Breakeven | 22.1% | 7.1% |
| Time to Breakeven | 22 days | 31 days |
| 2022 Inflation Shock & Fed Tightening | ||
| % Loss | -65.4% | -24.5% |
| % Gain to Breakeven | 189.0% | 32.4% |
| Time to Breakeven | 1294 days | 427 days |
| 2020 COVID-19 Crash | ||
| % Loss | -48.7% | -33.7% |
| % Gain to Breakeven | 95.0% | 50.9% |
| Time to Breakeven | 264 days | 140 days |
In The Past
Penguin Solutions's stock fell -34.6% during the 2025 US Tariff Shock. Such a loss loss requires a 52.9% gain to breakeven.
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Asset Allocation
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| Event | PENG | S&P 500 |
|---|---|---|
| 2025 US Tariff Shock | ||
| % Loss | -34.6% | -18.8% |
| % Gain to Breakeven | 52.9% | 23.1% |
| Time to Breakeven | 92 days | 79 days |
| 2024 Yen Carry Trade Unwind | ||
| % Loss | -36.2% | -7.8% |
| % Gain to Breakeven | 56.8% | 8.5% |
| Time to Breakeven | 625 days | 18 days |
| Summer-Fall 2023 Five Percent Yield Shock | ||
| % Loss | -49.7% | -9.5% |
| % Gain to Breakeven | 98.8% | 10.5% |
| Time to Breakeven | 160 days | 24 days |
| 2022 Inflation Shock & Fed Tightening | ||
| % Loss | -65.4% | -24.5% |
| % Gain to Breakeven | 189.0% | 32.4% |
| Time to Breakeven | 1294 days | 427 days |
| 2020 COVID-19 Crash | ||
| % Loss | -48.7% | -33.7% |
| % Gain to Breakeven | 95.0% | 50.9% |
| Time to Breakeven | 264 days | 140 days |
| Q4 2018 Fed Policy Error / Growth Scare | ||
| % Loss | -20.9% | -19.2% |
| % Gain to Breakeven | 26.4% | 23.8% |
| Time to Breakeven | 35 days | 105 days |
In The Past
Penguin Solutions's stock fell -34.6% during the 2025 US Tariff Shock. Such a loss loss requires a 52.9% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth.
Asset Allocation
Actively managed asset allocation strategies protect wealth. Learn more.
About Penguin Solutions (PENG)
Penguin Solutions (PENG) is a global technology company specializing in enterprise solutions, with a strong emphasis on memory and advanced computing. The company designs and develops products and services across three primary segments: Memory Solutions, Intelligent Platform Solutions, and LED Solutions. This diversified approach allows Penguin Solutions to address critical technology needs across a wide array of industries and applications worldwide.
The company's Memory Solutions segment provides essential components such as dynamic random access memory (DRAM) modules, solid-state drives (SSD), and other advanced flash storage, crucial for high-performance applications in networking, telecommunications, data analytics, and artificial intelligence. Its Intelligent Platform Solutions segment further extends its offerings with Penguin Computing, focused on high-performance computing (HPC) and AI solutions for core and cloud environments; Penguin Edge, providing edge computing for embedded and wireless applications; and Stratus, which delivers fault-tolerant computing solutions for data centers and the edge. Additionally, the LED Solutions segment manufactures blue and green LED chips and related materials under the well-known Cree LED brand.
Penguin Solutions serves a broad and diverse customer base globally, including original equipment manufacturers (OEMs), large enterprises, and government organizations. Its technology is deployed across key markets such as education, energy, financial services, manufacturing, and hyperscale data centers. The company's solutions are vital for enabling advanced computing, AI/ML, and high-performance data processing across the entire spectrum from core data centers to distributed edge environments.
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Here are 1-3 brief analogies to describe Penguin Solutions:
- Like Micron for advanced memory and storage components.
- Like HPE for specialized high-performance and edge computing solutions.
AI Analysis | Feedback
- Memory Solutions: Offers dynamic random access memory modules, solid-state and flash storage, and other advanced memory solutions.
- Supply Chain Services: Provides comprehensive services including procurement, logistics, inventory management, warehousing, programming, kitting, and packaging.
- Penguin Computing: Delivers High-Performance Computing (HPC) and AI solutions for technical computing in core and cloud environments.
- Penguin Edge: Offers edge computing solutions for embedded and wireless applications across various industries.
- Stratus Fault Tolerant Computing: Provides hardware and software services for simplified, protected, and autonomous fault-tolerant computing in data centers and at the edge.
- Cree LED Products: Manufactures LED-based products including blue and green LED chips and surface mount devices.
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Major Customers of Penguin Solutions (PENG)
Penguin Solutions primarily sells its products and services to other companies and government entities (Business-to-Business and Business-to-Government).
Based on the provided information, the company's major customers can be categorized as:
- Original Equipment Manufacturers (OEMs): These customers integrate Penguin Solutions' memory modules, solid-state storage, LED products, and computing components into their own end products.
- Enterprise Customers: This broad category encompasses businesses across various sectors that utilize Penguin Solutions' advanced memory solutions, HPC and AI solutions, and fault-tolerant computing. Specific markets mentioned include networking and telecom, data analytics, artificial intelligence and machine learning, core and cloud environments, health care, industrial, education, energy, financial services, hyperscale, and manufacturing.
- Government Entities: Public sector organizations and agencies are direct customers for Penguin Solutions' technical computing, AI, and edge computing solutions.
Specific names of individual customer companies are not disclosed in the provided background information.
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Kash Shaikh, President and Chief Executive Officer
Kash Shaikh joined Penguin Solutions as President and CEO effective February 2, 2026, bringing over 30 years of operational experience. He has a distinguished track record of driving growth, innovation, and customer-centric execution across enterprise software, SaaS, and AI data center infrastructure companies. Prior to joining Penguin Solutions, he served as President and Chief Executive Officer of Securonix, where he scaled the business, introduced agentic AI solutions, strengthened customer relationships, and led strategic organic and inorganic growth across international markets. Before Securonix, Shaikh was President and CEO of Virtana, where he led the company to sustained profitability and expanded its market presence. He also held leadership roles at Dell Technologies as General Manager of the Enterprise Solutions Business, and senior positions at Hewlett Packard Enterprise, Ruckus Wireless, Cisco, and Nortel Networks.
Nate Olmstead, Senior Vice President and Chief Financial Officer
Nate Olmstead was appointed Senior Vice President and Chief Financial Officer of Penguin Solutions in June 2024. He brings over 20 years of experience in building and leading finance teams at globally scaled technology companies. Before joining Penguin Solutions, Olmstead served as Chief Financial Officer for Logitech, a multinational technology company. He also held multiple senior finance roles at HP/HPE, including Investor Relations and Global Operations finance. Olmstead holds an MBA from Harvard Business School and a BA in Quantitative Economics from Stanford University.
Tony Frey, Senior Vice President and Chief Revenue Officer
Tony Frey joined Penguin Solutions as Senior Vice President and Chief Revenue Officer, effective August 25. He has over 25 years of global leadership experience in enterprise technology, with expertise across the full technology stack, including data management, cloud computing, and AI enablement. Previously, Frey served as Vice President of Global Strategic Accounts at NetApp and spent nine years in multiple Vice President enterprise sales roles at Informatica.
Ted Gillick, Senior Vice President of Strategy and Corporate Development
Ted Gillick assumed the role of Senior Vice President of Strategy and Corporate Development at Penguin Solutions, effective August 4. He possesses more than 20 years of experience in corporate development, investment banking, and strategic planning within the technology sector. Before joining Penguin Solutions, Gillick led global M&A efforts as Senior Vice President of Corporate Development at Dell Technologies. His prior experience also includes being a senior member of the corporate development team at Avid Technology and serving as an M&A investment banker at Lehman Brothers and Barclays Capital.
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Key Risks to Penguin Solutions (PENG)
- Margin Compression and Intense Competition in Semiconductor and AI Infrastructure Markets: Penguin Solutions operates in highly competitive industries, including memory and AI infrastructure, which are susceptible to significant margin pressures and the risk of hardware commoditization. The company's gross margins are noted as being among the lowest in the semiconductor industry, indicating limited pricing power in a crowded market. This intense competition, coupled with the cyclical nature of the memory market and rapid advancements in AI hardware, can severely impact revenue and profitability.
- Risks Related to the Rapidly Evolving Artificial Intelligence (AI) Landscape and Strategic Execution: As Penguin Solutions increasingly positions itself as a vertically integrated AI infrastructure provider, it faces considerable business risks associated with its substantial investments in AI. These challenges include navigating complex and fast-moving AI markets, intense competition, an uncertain regulatory environment, and potential intellectual property disputes. Successfully achieving returns on these AI initiatives and executing strategic partnerships, such as those for channel expansion, also presents significant execution risks that could affect revenue growth.
- Weak Structural Profitability and Financial Indicators: The company has demonstrated consistently low gross margins, which signals weak structural profitability and a potential inability to effectively procure raw materials or command higher prices. Additionally, Penguin Solutions has shown mediocre free cash flow generation, limiting its capacity for reinvestment and capital allocation to shareholders. The company's use of debt, coupled with its relatively low return on equity, also raises concerns about its financial flexibility and ability to manage obligations, especially if earnings trends continue to decline.
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The increasing sophistication and integration of High-Performance Computing (HPC), Artificial Intelligence (AI), and Edge computing solutions offered by hyperscale cloud providers directly threaten Penguin Solutions' Intelligent Platform Solutions segment. As cloud providers expand their managed services in these specialized domains, enterprises may increasingly opt to consume these capabilities as a service, reducing the need to acquire and manage dedicated hardware and software platforms from companies like Penguin Solutions.
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Penguin Solutions, Inc. (PENG) operates in several technology markets. The addressable markets for its main products and services are sized as follows:
Memory Solutions
- Dynamic Random Access Memory (DRAM) Modules: The global DRAM market size was valued at USD 121.83 billion in 2025 and is projected to grow to USD 223.7 billion by 2034.
- Solid-State Drives (SSDs): The global solid state drive market size accounted for USD 55.73 billion in 2025 and is predicted to reach approximately USD 304.73 billion by 2035.
- Flash Storage: The global flash storage market size was valued at USD 62.4 billion in 2024 and is projected to grow to USD 132.7 billion by 2032. The global enterprise flash storage market size was evaluated at USD 21.92 billion in 2024 and is predicted to reach around USD 48.03 billion by 2034.
Intelligent Platform Solutions
- High-Performance Computing (HPC) Solutions: The global high-performance computing market size is estimated at USD 59.85 billion in 2025 and is predicted to increase to approximately USD 141.62 billion by 2035. North America is expected to hold the largest revenue share, at 42%, in 2025.
- Artificial Intelligence (AI) Solutions: The global Artificial Intelligence (AI) market size was estimated at USD 371.71 billion in 2025 and is projected to reach USD 2,407.02 billion by 2032. North America is expected to dominate the AI market, accounting for a 43.05% market share in 2025. The global artificial intelligence (AI) software platform market size is estimated at USD 26.65 billion in 2025 and is expected to hit around USD 88.19 billion by 2034.
- Edge Computing Solutions: The total addressable market for edge computing is forecasted to reach USD 424 billion by 2030, globally. Other estimates indicate the global edge computing market size was calculated at USD 554.39 billion in 2025 and is predicted to increase to approximately USD 6,092.42 billion by 2035. North America is projected to lead this market.
- Fault-Tolerant Computing Solutions: The global fault-tolerant servers market size was estimated at USD 9.69 billion in 2025 and is projected to reach USD 14.82 billion by 2033. North America held a 35.8% revenue share of the global fault-tolerant servers market in 2025.
LED Solutions
- LED-based products (LED Chips): The global LED chip market size was valued at USD 34.6 billion in 2025 and is estimated to reach USD 82.7 billion by 2034. Asia Pacific currently dominates this market, holding a significant market share of over 41.0% in 2025. The global chip-on-board (COB) LED market size was valued at USD 3.34 billion in 2025 and is projected to grow to USD 10.73 billion by 2034.
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Penguin Solutions (PENG) is expected to drive future revenue growth over the next 2-3 years through several key initiatives and market trends:
* **Growth in the Integrated Memory Segment:** The company anticipates its Memory segment to be a primary driver of full-year net sales growth, with projected increases of 20% to 35% year-over-year. This growth is underpinned by strong demand, favorable supply conditions, and early leadership in CXL memory technology. The Integrated Memory business saw a 41% year-over-year increase in net sales in Q1 2026.
* **Expansion in Enterprise and Sovereign AI Markets:** Penguin Solutions is strategically focused on expanding its customer base beyond hyperscalers into the enterprise and sovereign AI sectors. In Q1 2026, the company reported new customer wins in the defense and education sectors, and its non-hyperscale AI business grew significantly, representing nearly 25% of total revenue. The company is also actively pursuing large-scale AI deployments with sovereign cloud customers internationally.
* **Development of Comprehensive AI Infrastructure Software and Services:** Penguin Solutions is investing in and developing a comprehensive AI infrastructure software stack, including cluster management, security, and orchestration layers. This focus on software and services, alongside hardware, aims to enhance its offerings and drive revenue. The company is also expanding key partnerships with major industry players like NVIDIA, CDW, Insight, and Dell to broaden its market reach and integrate its software into customized platforms.
* **Increasing Demand for High-Performance Memory Technologies:** The Integrated Memory business is experiencing heightened demand for its memory solutions, fueled by the industry's transition to DDR5 technology and the growing need for high-performance memory in AI computing applications.
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Share Repurchases
- From April 2022 through the third quarter of fiscal year 2024, the company, then SMART Global Holdings, utilized $72.3 million to repurchase 4.1 million shares.
- In the first quarter of fiscal year 2026 (ended November 28, 2025), Penguin Solutions repurchased approximately 791,000 shares for $15 million.
- As of October 6, 2025, a new $75 million stock repurchase authorization was approved, bringing total authorizations over the last four years to $225 million, with $96.5 million remaining available as of November 28, 2025.
Share Issuance
- In the third quarter of fiscal year 2023, the company's shares issued reached a high of $34.6 million.
- In August 2024, SMART Global Holdings priced $175.0 million in aggregate principal amount of convertible senior notes due 2030.
- For fiscal year 2025, the annual share issuance for Penguin Solutions was $8.8 million.
Inbound Investments
- In December 2024, SK Telecom completed a $200 million strategic investment in Penguin Solutions (then SMART Global Holdings) through the acquisition of 200,000 convertible preferred shares.
Outbound Investments
- In March 2021, SMART Global Holdings completed the acquisition of the Cree LED Products business unit.
- In 2022, Stratus Technologies was acquired by SGH, which subsequently rebranded to Penguin Solutions in October 2024.
Capital Expenditures
- Capital expenditures were $3.8 million in the third quarter of fiscal year 2024.
- For the first quarter of fiscal year 2026 (ended November 28, 2025), capital expenditures totaled $3 million.
- Cash capital expenditures for the fourth quarter of fiscal year 2024 were expected to be in the range of $4 million to $6 million.
Peer Outperformance in Semiconductors
PENG has outperformed 74% of its 54 Semiconductors peers over 5Y. Semiconductors ranks 7th of 12 industries in Information Technology by median 5Y return. The sector’s gains have largely come from elsewhere.
Share of Semiconductors constituents that PENG has outperformed, by holding period. Peers without a full price history over a given window are excluded from that window.
1Y
84%
of 64 industry peers · 93.6% return
3Y
71%
of 58 industry peers · 130.8% return
5Y
74%
of 54 industry peers · 122.2% return
No Semiconductors peer with a comparable growth profile has beaten PENG by more than 20pp over 5Y.
Median price return by industry across the Information Technology sector, ranked by 5Y. Semiconductors is PENG's own industry. Use this to see which corners of the sector have carried the returns.
| Industry | Names | 1Y med | 3Y med | 5Y med | Top 3 by 5Y |
|---|---|---|---|---|---|
| Electronic Manufacturing Services | 9 | 54.5% | 180.7% | 279.1% | TTMI 822% · FLEX 731% · SANM 430% |
| Technology Distributors | 9 | 30.1% | 71.5% | 98.4% | CLMB 331% · AVT 196% · SNX 151% |
| Semiconductor Materials & Equipment | 26 | 90.9% | 83.2% | 96.4% | AXTI 834% · AEHR 773% · KLAC 423% |
| Communications Equipment | 36 | 16.3% | 84.8% | 77.2% | AAOI 1409% · FEIM 1020% · LITE 998% |
| Electronic Components | 26 | 31.5% | 65.3% | 69.2% | CLS 3971% · BELFA 1358% · COHR 435% |
| Technology Hardware, Storage & Peripherals | 20 | 31.9% | 84.1% | 46.4% | DELL 1131% · STX 1102% · SMCI 976% |
| Semiconductors ← | 55 | 23.7% | 31.1% | 41.5% | POET 1815% · MU 1339% · NVDA 957% |
| Internet Services & Infrastructure | 6 | 7.5% | 48.1% | 31.0% | DOCN 63% · VRSN 44% · GDDY 38% |
| Electronic Equipment & Instruments | 26 | -16.0% | 6.8% | -9.4% | PI 233% · ACFN 113% · OSIS 113% |
| IT Consulting & Other Services | 28 | -24.6% | -13.5% | -28.8% | CHRN 537268% · APLD 1372% · TSSI 669% |
| Application Software | 122 | -30.5% | -15.1% | -44.4% | VIDA 176264% · INLX 5435% · PLTR 569% |
| Systems Software | 68 | -19.6% | 8.7% | -54.9% | QNC 542% · ZETA 395% · PANW 360% |
Median of constituents with a full price history over each window. Top names are unfiltered by size in this render.
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Peer Comparisons
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 141.52 |
| Mkt Cap | 223.8 |
| Rev LTM | 41,588 |
| Op Inc LTM | 4,886 |
| FCF LTM | 6,280 |
| FCF 3Y Avg | 3,484 |
| CFO LTM | 8,387 |
| CFO 3Y Avg | 5,201 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 44.3% |
| Rev Chg 3Y Avg | 21.8% |
| Rev Chg Q | 53.9% |
| QoQ Delta Rev Chg LTM | 12.1% |
| Op Inc Chg LTM | 104.5% |
| Op Inc Chg 3Y Avg | 82.0% |
| Op Mgn LTM | 8.7% |
| Op Mgn 3Y Avg | 7.5% |
| QoQ Delta Op Mgn LTM | 1.9% |
| CFO/Rev LTM | 12.0% |
| CFO/Rev 3Y Avg | 10.5% |
| FCF/Rev LTM | 7.8% |
| FCF/Rev 3Y Avg | 6.0% |
Segment Financials
Revenue by Segment| $ Mil | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Advanced Computing | 648 | 555 | 750 | 441 | 345 |
| Integrated Memory | 464 | 356 | 443 | 552 | 486 |
| Optimized LED | 256 | 260 | 248 | 403 | 225 |
| Total | 1,369 | 1,171 | 1,441 | 1,396 | 1,056 |
| $ Mil | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Advanced Computing | 115 | 95 | 111 | 49 | 30 |
| Integrated Memory | 44 | 22 | 74 | 79 | 20 |
| Optimized LED | 9 | 3 | -5 | 49 | 34 |
| Cost of sales-related restructuring | -1 | -2 | -7 | 0 | |
| Diligence, acquisition and integration expense | -2 | -9 | -21 | -7 | -5 |
| Restructuring charges | -2 | -7 | -7 | -0 | -3 |
| Other | -3 | -2 | -2 | -1 | 0 |
| Redomiciliation costs | -10 | ||||
| Impairment of goodwill | -16 | -19 | 0 | ||
| Amortization of acquisition-related intangibles | -35 | -39 | -45 | -24 | -20 |
| Share-based compensation expense | -41 | -43 | -39 | -37 | -31 |
| Change in fair value of contingent consideration | -29 | -41 | -32 | ||
| Flow through of inventory step up | -3 | 0 | -7 | ||
| Total | 58 | 18 | 9 | 67 | -16 |
Price Behavior
Price Behavior
| Market Price | $53.30 | |
| Market Cap ($ Bil) | 2.7 | |
| First Trading Date | 05/24/2017 | |
| Distance from 52W High | -34.5% | |
| 50 Days | 200 Days | |
| DMA Price | $55.37 | $37.86 |
| DMA Trend | up | down |
| Distance from DMA | -3.7% | 40.8% |
| 3M | 1YR | |
| Volatility | 111.2% | 83.2% |
| Downside Capture | 525.00 | 322.85 |
| Upside Capture | 355.12 | 349.67 |
| Correlation (SPY) | 53.8% | 51.7% |
PENG Betas & Captures as of 8/31/2026
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | 3.98 | 5.21 | 4.91 | 3.97 | 3.27 | 2.25 |
| Up Beta | 4.36 | 9.45 | 5.37 | 3.64 | 3.76 | 2.05 |
| Down Beta | 4.01 | 4.03 | 3.55 | 3.27 | 2.59 | 1.95 |
| Up Capture | 261% | 231% | 752% | 1401% | 1306% | 4956% |
| Bmk +ve Days | 10 | 21 | 32 | 68 | 138 | 427 |
| Stock +ve Days | 10 | 18 | 28 | 66 | 126 | 388 |
| Down Capture | 558% | 481% | 381% | 246% | 181% | 113% |
| Bmk -ve Days | 11 | 21 | 32 | 59 | 113 | 324 |
| Stock -ve Days | 11 | 24 | 36 | 61 | 125 | 358 |
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with PENG | |
|---|---|---|---|---|
| PENG | 103.4% | 83.1% | 1.21 | - |
| Sector ETF (XLK) | 40.5% | 26.4% | 1.25 | 65.6% |
| Equity (SPY) | 16.9% | 12.9% | 0.94 | 51.6% |
| Gold (GLD) | 19.1% | 29.3% | 0.60 | 15.7% |
| Commodities (DBC) | 46.3% | 20.6% | 1.73 | -1.4% |
| Real Estate (VNQ) | 4.9% | 13.6% | 0.10 | -0.8% |
| Bitcoin (BTCUSD) | -30.6% | 44.3% | -0.70 | 14.9% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 5-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with PENG | |
|---|---|---|---|---|
| PENG | 16.3% | 63.5% | 0.51 | - |
| Sector ETF (XLK) | 20.2% | 25.9% | 0.69 | 59.6% |
| Equity (SPY) | 12.9% | 17.2% | 0.57 | 51.9% |
| Gold (GLD) | 19.1% | 18.8% | 0.83 | 10.0% |
| Commodities (DBC) | 11.2% | 19.5% | 0.45 | 9.5% |
| Real Estate (VNQ) | 1.1% | 18.8% | -0.05 | 27.6% |
| Bitcoin (BTCUSD) | 12.5% | 52.5% | 0.42 | 19.4% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 10-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with PENG | |
|---|---|---|---|---|
| PENG | 22.6% | 64.4% | 0.62 | - |
| Sector ETF (XLK) | 24.4% | 25.0% | 0.88 | 53.4% |
| Equity (SPY) | 15.1% | 18.0% | 0.72 | 48.8% |
| Gold (GLD) | 12.1% | 16.4% | 0.61 | 9.9% |
| Commodities (DBC) | 8.3% | 18.1% | 0.37 | 14.5% |
| Real Estate (VNQ) | 4.4% | 20.7% | 0.18 | 29.6% |
| Bitcoin (BTCUSD) | 62.6% | 66.2% | 1.02 | 15.0% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Returns Analyses
Earnings Returns History
Updated 8/7/2026| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 7/7/2026 | 25.1% | 24.1% | -11.1% |
| 4/1/2026 | 13.4% | 25.2% | 71.2% |
| 1/6/2026 | -13.8% | -6.5% | -19.1% |
| 10/7/2025 | -16.0% | -16.4% | -17.8% |
| 7/8/2025 | 10.6% | 17.2% | 8.1% |
| 4/2/2025 | -10.3% | -4.8% | -3.3% |
| 1/8/2025 | 7.9% | 5.2% | 10.9% |
| 10/15/2024 | -23.5% | -23.6% | -16.1% |
| ... | |||
| SUMMARY STATS | |||
| # Positive | 11 | 10 | 8 |
| # Negative | 11 | 12 | 14 |
| Median Positive | 12.0% | 15.1% | 9.5% |
| Median Negative | -15.4% | -13.3% | -16.9% |
| Max Positive | 26.3% | 25.2% | 71.2% |
| Max Negative | -44.4% | -39.5% | -34.3% |
| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 7/7/2026 | 25.1% | 24.1% | -11.1% |
| 4/1/2026 | 13.4% | 25.2% | 71.2% |
| 1/6/2026 | -13.8% | -6.5% | -19.1% |
| 10/7/2025 | -16.0% | -16.4% | -17.8% |
| 7/8/2025 | 10.6% | 17.2% | 8.1% |
| 4/2/2025 | -10.3% | -4.8% | -3.3% |
| 1/8/2025 | 7.9% | 5.2% | 10.9% |
| 10/15/2024 | -23.5% | -23.6% | -16.1% |
| 7/9/2024 | 26.3% | 18.3% | -19.5% |
| 4/9/2024 | -24.1% | -24.9% | -26.2% |
| 10/12/2023 | -44.4% | -39.5% | -34.3% |
| 6/29/2023 | 8.9% | 3.5% | -0.1% |
| 1/3/2023 | 4.2% | 9.5% | 24.1% |
| 10/4/2022 | -7.1% | -21.7% | -18.5% |
| 6/29/2022 | -19.3% | -14.2% | -3.3% |
| 4/5/2022 | 4.6% | -2.0% | 2.7% |
| 1/4/2022 | -15.4% | -9.5% | -25.4% |
| 10/12/2021 | 18.1% | 18.6% | 31.0% |
| 7/6/2021 | 17.8% | 12.9% | 2.7% |
| 4/6/2021 | 12.0% | 11.5% | -2.9% |
| 1/5/2021 | -0.8% | -4.3% | 2.0% |
| 10/1/2020 | -12.0% | -12.4% | -6.7% |
| SUMMARY STATS | |||
| # Positive | 11 | 10 | 8 |
| # Negative | 11 | 12 | 14 |
| Median Positive | 12.0% | 15.1% | 9.5% |
| Median Negative | -15.4% | -13.3% | -16.9% |
| Max Positive | 26.3% | 25.2% | 71.2% |
| Max Negative | -44.4% | -39.5% | -34.3% |
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 05/31/2026 | 07/07/2026 | 10-Q |
| 02/28/2026 | 04/01/2026 | 10-Q |
| 11/30/2025 | 01/06/2026 | 10-Q |
| 08/31/2025 | 10/21/2025 | 10-K |
| 05/31/2025 | 07/08/2025 | 10-Q |
| 02/28/2025 | 04/02/2025 | 10-Q |
| 11/30/2024 | 01/08/2025 | 10-Q |
| 08/31/2024 | 10/24/2024 | 10-K |
| 05/31/2024 | 07/09/2024 | 10-Q |
| 02/29/2024 | 04/09/2024 | 10-Q |
| 11/30/2023 | 01/09/2024 | 10-Q |
| 08/31/2023 | 10/20/2023 | 10-K |
| 05/31/2023 | 06/30/2023 | 10-Q |
| 02/28/2023 | 04/04/2023 | 10-Q |
| 11/30/2022 | 01/03/2023 | 10-Q |
| 08/31/2022 | 10/14/2022 | 10-K |
| Report Date | Filing Date | Filing |
|---|---|---|
| 05/31/2026 | 07/07/2026 | 10-Q |
| 02/28/2026 | 04/01/2026 | 10-Q |
| 11/30/2025 | 01/06/2026 | 10-Q |
| 08/31/2025 | 10/21/2025 | 10-K |
| 05/31/2025 | 07/08/2025 | 10-Q |
| 02/28/2025 | 04/02/2025 | 10-Q |
| 11/30/2024 | 01/08/2025 | 10-Q |
| 08/31/2024 | 10/24/2024 | 10-K |
| 05/31/2024 | 07/09/2024 | 10-Q |
| 02/29/2024 | 04/09/2024 | 10-Q |
| 11/30/2023 | 01/09/2024 | 10-Q |
| 08/31/2023 | 10/20/2023 | 10-K |
| 05/31/2023 | 06/30/2023 | 10-Q |
| 02/28/2023 | 04/04/2023 | 10-Q |
| 11/30/2022 | 01/03/2023 | 10-Q |
| 08/31/2022 | 10/14/2022 | 10-K |
| 05/31/2022 | 06/30/2022 | 10-Q |
| 02/28/2022 | 04/05/2022 | 10-Q |
| 11/30/2021 | 01/04/2022 | 10-Q |
| 08/31/2021 | 10/25/2021 | 10-K |
| 05/31/2021 | 07/06/2021 | 10-Q |
| 02/28/2021 | 04/06/2021 | 10-Q |
| 11/30/2020 | 01/05/2021 | 10-Q |
| 08/31/2020 | 10/22/2020 | 10-K |
| 05/31/2020 | 07/07/2020 | 10-Q |
| 02/29/2020 | 04/07/2020 | 10-Q |
| 11/30/2019 | 12/20/2019 | 10-Q |
| 08/31/2019 | 11/06/2019 | 10-K |
Recent Forward Guidance
Updated 7/27/2026Latest: Q3 2026 Earnings Reported 7/7/2026
| Forward Guidance | Guidance Change | |||||||
|---|---|---|---|---|---|---|---|---|
| Metric | Source | Low | Mid | High | % Chg | % Delta | Change | Prior |
| 2026 Net sales growth | Reported | 20.0% | 22.0% | 24.0% | 10.0% | Raised | Guidance: 12.0% for 2026 | |
| 2026 Gross margin | Reported | 26.0% | 26.5% | 27.0% | 0.5% | Raised | Guidance: 26.0% for 2026 | |
| 2026 Operating expenses | Reported | 298.00 Mil | 303.00 Mil | 308.00 Mil | -2.3% | Lowered | Guidance: 310.00 Mil for 2026 | |
| 2026 Diluted earnings per share | Reported | 1.92 | 1.97 | 2.02 | 51.5% | Raised | Guidance: 1.3 for 2026 | |
Prior: Q2 2026 Earnings Reported 4/1/2026
| Forward Guidance | Guidance Change | |||||||
|---|---|---|---|---|---|---|---|---|
| Metric | Source | Low | Mid | High | % Chg | % Delta | Change | Prior |
| 2026 Revenue Growth | Reported | 7.0% | 12.0% | 6.0% | Raised | Guidance: 6.0% for 2026 | ||
| 2026 Gross Margin | Reported | 25.5% | 26.0% | -1.0% | Lowered | Guidance: 27.0% for 2026 | ||
| 2026 Operating Expenses | Reported | 305.00 Mil | 310.00 Mil | 1.0% | Raised | Guidance: 307.00 Mil for 2026 | ||
| 2026 EPS | Reported | 1.15 | 1.3 | 52.9% | Raised | Guidance: 0.85 for 2026 | ||
Q1 2026 Earnings Reported 1/6/2026
| Forward Guidance | Guidance Change | |||||||
|---|---|---|---|---|---|---|---|---|
| Metric | Source | Low | Mid | High | % Chg | % Delta | Change | Prior |
| 2026 Revenue Growth | Reported | -4.0% | 6.0% | 0.0% | Affirmed | Guidance: 6.0% for 2026 | ||
| 2026 GAAP Gross Margin | Reported | 26.0% | 27.0% | 28.0% | -0.5% | Lowered | Guidance: 27.5% for 2026 | |
| 2026 Non-GAAP Gross Margin | Reported | 28.0% | 29.0% | 30.0% | ||||
| 2026 GAAP Operating Expenses | Reported | 297.00 Mil | 307.00 Mil | 317.00 Mil | -1.6% | Lowered | Guidance: 312.00 Mil for 2026 | |
| 2026 Non-GAAP Operating Expenses | Reported | 240.00 Mil | 250.00 Mil | 260.00 Mil | ||||
| 2026 GAAP Diluted EPS | Reported | 0.6 | 0.85 | 1.1 | -4.5% | Lowered | Guidance: 0.89 for 2026 | |
| 2026 Non-GAAP Diluted EPS | Reported | 1.75 | 2 | 2.25 | ||||
Q4 2025 Earnings Reported 10/7/2025
| Forward Guidance | Guidance Change | |||||||
|---|---|---|---|---|---|---|---|---|
| Metric | Source | Low | Mid | High | % Chg | % Delta | Change | Prior |
| 2026 Net sales | Reported | -0.04 | 0.06 | 0.16 | -11.0% | Lower New | Actual: 0.17 for 2025 | |
| 2026 Gross margin | Reported | 26.5% | 27.5% | 28.5% | -1.5% | Lower New | Actual: 29.0% for 2025 | |
| 2026 Operating expenses | Reported | 302.00 Mil | 312.00 Mil | 322.00 Mil | -8.2% | Lower New | Actual: 340.00 Mil for 2025 | |
| 2026 Diluted earnings per share | Reported | 0.64 | 0.89 | 1.14 | 2125.0% | Higher New | Actual: 0.04 for 2025 | |
Insider Activity
Updated 8/26/2026| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Kuykendall, Anne | SVP and Chief Legal Officer | Direct | Sell | 8262026 | 50.58 | 4,000 | 202,301 | 5,714,705 | Form |
| 2 | Clark, Joseph Gates | SVP and Pres, Optimized LED | Direct | Sell | 7272026 | 57.47 | 1,327 | 76,263 | 3,623,828 | Form |
| 3 | Kuykendall, Anne | SVP and Chief Legal Officer | Direct | Sell | 7222026 | 56.12 | 739 | 41,473 | 6,565,703 | Form |
| 4 | Kuykendall, Anne | SVP and Chief Legal Officer | Direct | Sell | 6162026 | 64.38 | 4,000 | 257,501 | 7,776,153 | Form |
| 5 | Clark, Joseph Gates | SVP and Pres, Optimized LED | Direct | Sell | 6022026 | 58.87 | 10,351 | 609,413 | 3,910,761 | Form |
| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Kuykendall, Anne | SVP and Chief Legal Officer | Direct | Sell | 8262026 | 50.58 | 4,000 | 202,301 | 5,714,705 | Form |
| 2 | Clark, Joseph Gates | SVP and Pres, Optimized LED | Direct | Sell | 7272026 | 57.47 | 1,327 | 76,263 | 3,623,828 | Form |
| 3 | Kuykendall, Anne | SVP and Chief Legal Officer | Direct | Sell | 7222026 | 56.12 | 739 | 41,473 | 6,565,703 | Form |
| 4 | Kuykendall, Anne | SVP and Chief Legal Officer | Direct | Sell | 6162026 | 64.38 | 4,000 | 257,501 | 7,776,153 | Form |
| 5 | Clark, Joseph Gates | SVP and Pres, Optimized LED | Direct | Sell | 6022026 | 58.87 | 10,351 | 609,413 | 3,910,761 | Form |
| 6 | Kuykendall, Anne | SVP and Chief Legal Officer | Direct | Sell | 5282026 | 54.45 | 4,000 | 217,794 | 6,794,839 | Form |
| 7 | Straub, Maximiliane C | Direct | Sell | 5182026 | 49.00 | 3,000 | 147,000 | 2,546,775 | Form | |
| 8 | Clark, Joseph Gates | SVP and Pres, Optimized LED | Direct | Sell | 5122026 | 39.99 | 5,000 | 199,950 | 3,070,272 | Form |
| 9 | Clark, Joseph Gates | SVP and Pres, Optimized LED | Direct | Sell | 5072026 | 34.75 | 5,000 | 173,750 | 2,841,716 | Form |
| 10 | Clark, Joseph Gates | SVP and Pres, Optimized LED | Direct | Sell | 4272026 | 29.75 | 5,000 | 148,750 | 2,581,586 | Form |
| 11 | Clark, Joseph Gates | SVP and Pres, Optimized LED | Direct | Sell | 4272026 | 27.62 | 1,485 | 41,016 | 2,534,853 | Form |
| 12 | Kuykendall, Anne | SVP and Chief Legal Officer | Direct | Sell | 4222026 | 27.92 | 738 | 20,605 | 3,595,928 | Form |
| 13 | Clark, Joseph Gates | SVP and Pres, Optimized LED | Direct | Sell | 4202026 | 26.82 | 5,000 | 134,100 | 2,562,624 | Form |
| 14 | Clark, Joseph Gates | SVP and Pres, Optimized LED | Direct | Sell | 4102026 | 22.55 | 12,546 | 282,882 | 2,248,582 | Form |
| 15 | Kuykendall, Anne | SVP and Chief Legal Officer | Direct | Sell | 3172026 | 17.75 | 4,000 | 70,981 | 2,330,868 | Form |
| 16 | Kuykendall, Anne | SVP and Chief Legal Officer | Direct | Sell | 2272026 | 20.80 | 4,000 | 83,203 | 2,815,430 | Form |
| 17 | Clark, Joseph Gates | SVP and Pres, Optimized LED | Direct | Sell | 2252026 | 20.07 | 10,046 | 201,597 | 2,253,007 | Form |
| 18 | Clark, Joseph Gates | SVP and Pres, Optimized LED | Direct | Sell | 2122026 | 19.03 | 1,346 | 25,614 | 2,327,712 | Form |
Investor Activity (13F)
Updated Sep 20, 202613F holdings as of Mar 31, 2026 (Q1 2026)
Active managers (13F portfolio over $250M, at least 3 holdings) with a position over $5M that is either over 10% of their portfolio or held in a concentrated book of 50 or fewer total positions. Index/ETF, sovereign, bank, community-bank and charitable/donor-advised filers are excluded.
Industry Resources
| Information Technology Resources |
| TechCrunch |
| Wired |
| CIO |
| MIT Technology Review |
| Gartner Insights |
| Ars Technica |
| Semiconductors Resources |
| EE Times |
| Semiconductor Engineering |
| Semiconductor Digest |
External Quote Links
| Y Finance | Barrons |
| TradingView | Morningstar |
| SeekingAlpha | ValueLine |
| Motley Fool | Robinhood |
| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |
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Core Cache Last Updated: 9/19/2026