Welcome to our dedicated page for Penguin Solutions news (Ticker: PENG), a resource for investors and traders seeking the latest updates and insights on Penguin Solutions stock.
Penguin Solutions, Inc. (Nasdaq: PENG) generates news across high-performance computing, AI infrastructure, integrated memory, and LED technologies. Company announcements highlight developments in its Advanced Computing, Integrated Memory, and Optimized LED segments, giving investors and technology professionals insight into how Penguin Solutions evolves its product and solution portfolio.
Recent news has included financial results and business outlook updates, where Penguin Solutions reports net sales by segment and discusses its use of GAAP and non-GAAP financial measures. These releases also describe strategic actions such as a stock repurchase authorization approved by the company’s Audit Committee.
In the Advanced Computing area, news items cover the OriginAI solution portfolio and ICE ClusterWare cluster management software. Penguin Solutions has announced support for the latest NVIDIA GPUs within OriginAI architectures and has introduced ICE ClusterWare software 13.0 with features such as anomaly detection, auto-remediation, and network-isolated multi-tenancy to support AI and HPC environments.
Within Integrated Memory, press releases describe SMART Modular DDR5 SODIMM and CSODIMM memory modules and a CXL NV-CMM E3.S 2T non-volatile memory module, aimed at applications such as high-performance computing, industrial and edge systems, telecom, networking, and data centers. In the Optimized LED segment, Cree LED, a Penguin Solutions brand, issues news about LED chips, components, Level 2 PCBA solutions, and partnerships in lighting and horticulture applications.
Visitors to this news page can review company press releases, product introductions, segment updates, and other corporate announcements related to PENG, providing context on Penguin Solutions’ activities in computing, memory, and LED markets.
Penguin Solutions (NASDAQ: PENG), formerly SMART Global Holdings, reported its Q4 and full-year fiscal 2024 results. The company's name change reflects its focus on AI infrastructure, advanced memory solutions, and high-performance computing. Key highlights include:
- FY2024 net sales of $1.2 billion, down from $1.4 billion in FY2023
- Q4 FY2024 net sales of $311 million, down 1.7% year-over-year
- FY2024 GAAP EPS of $(0.85), compared to $0.15 in FY2023
- Q4 FY2024 GAAP EPS of $(0.46), versus $1.17 in the year-ago quarter
- Non-GAAP EPS for FY2024 of $1.25, down from $2.52 in FY2023
The company reported its third consecutive quarter of sequential top-line growth in Q4. For FY2025, Penguin Solutions projects 15% YoY growth in net sales (±5%) and non-GAAP diluted EPS of $1.70 (±$0.20).
Penguin Solutions, Inc. (Nasdaq: PENG) has completed its brand transition from SGH - SMART Global Holdings, Inc., evolving into a comprehensive end-to-end infrastructure solution provider. Building on 25 years of high-performance computing (HPC) expertise, Penguin Solutions now designs, builds, deploys, and manages next-generation enterprise infrastructure for AI and beyond.
The transition unifies the company's business lines, creating new opportunities for innovation in designing and delivering comprehensive solutions—from core to cloud to edge—for next-generation applications. Penguin Solutions offers customized solutions addressing specific enterprise needs and complex business problems.
Mark Adams, president and CEO of Penguin Solutions, emphasized that this brand unification highlights their transformation into an enterprise solutions company focused on overcoming complex infrastructure deployment challenges. The Cree LED brand, another SGH business unit, will continue to operate under its current name.