Penguin Solutions Stock Hits Another All-Time High on Raised FY Guidance

Dow Jones06-03

By Kelly Cloonan

Shares of Penguin Solutions gained after the company boosted its fiscal year guidance, citing strong agentic AI-driven customer demand across its integrated memory and AI infrastructure businesses.

The stock climbed 19% to $70.88 on Tuesday, after touching an all-time high of $73.24 earlier in the trading session. The shares have rallied since March 27, when they close at $16.69 each, and have now more than tripled this year.

The memory and AI infrastructure provider said it expects both its sales and earnings per share figures for the fiscal year to be at the high end of its previous outlook ranges.

The company in April forecast fiscal-year sales growth of 7% to 17% and earnings per share of $1.30, plus or minus 15 cents.

Penguin Solutions also named Aaron Johnson as its chief financial officer on an interim basis, effective July 9.

Johnson succeeds CFO Nate Olmstead, who plans to step down on July 8 to pursue a new opportunity in a different industry, the company said. Johnson is currently Penguin Solutions' vice president of finance and accounting.

The company said it has started to search for a permanent CFO and is working with an executive search firm.

Write to Kelly Cloonan at kelly.cloonan@wsj.com

(END) Dow Jones Newswires

June 02, 2026 12:01 ET (16:01 GMT)

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

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