Penguin Solutions Shares Gain on Boost to Outlook

Dow Jones04-02

By Katherine Hamilton

Shares of Penguin Solutions shares rose after raising its full-year outlook, driven by soaring demand for memory.

The stock rallied 13% to $20.60 in after-hours trading Wednesday. Through the close, the stock has lost 7% of its value this year.

The high-performance computing provider now expects full-year sales to increase 12% at the midpoint, up from the 6% growth it was previously anticipating.

It is also guiding for annual adjusted earnings per share of $2.15 at the midpoint, plus or minus 15 cents. That is an increase from the prior outlook of $2.00, plus or minus 25 cents.

Chief Executive Kash Shaikh said the increased outlook reflects strong demand for memory.

"Memory is a critical scaling factor for AI inference, and that aligns with one of our core strengths," Shaikh said.

Sales in the second quarter, which ended in February, were $343 million, ahead of the $339 million analysts polled by FactSet expected.

Adjusted earnings were 52 cents a share, 10 cents above Wall Street's estimates for 42 cents.

Integrated memory sales jumped 63%, while revenue in advanced computing and optimized LED revenue declined.

Write to Katherine Hamilton at katherine.hamilton@wsj.com

(END) Dow Jones Newswires

April 01, 2026 17:17 ET (21:17 GMT)

Copyright (c) 2026 Dow Jones & Company, Inc.

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Through the close, the stock has lost 7% of its value this year. \n\n\n  The high-performance computing provider now expects full-year sales to increase 12% at the midpoint, up from the 6% growth it was previously anticipating. \n\n\n  It is also guiding for annual adjusted earnings per share of $2.15 at the midpoint, plus or minus 15 cents. 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