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Penguin Solutions advances after SK Hynix discloses stake

By Reuters News

** Shares of AI data center infrastructure provider Penguin solutions PENG.O jump 14.3% to $54.33

** Stock set for biggest one-day jump since July 30

** South Korean chipmaker SK Hynix 000660.KS, reports $377 mln, or 9.1% stake in PENG, as of October 29 - SEC filing

** A 9.1% stake would make SK Hynix the second biggest shareholder in PENG, after BlackRock Institutional Trust that has a 11.6% stake, as of June 30 - LSEG data

** PENG has 60.24 mln shares outstanding, and a market capitalization of $2.86 bln as of last close - LSEG

** 8 of 9 analysts rate stock "buy" or higher and 1 "sell" their median PT is $85 - data compiled by LSEG

** Up to last close, stock more than doubled YTD

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