Jack A. Pacheco Sells 6,666 Shares of Penguin Solutions (NASDAQ:PENG) Stock

Penguin Solutions (NASDAQ:PENG) COO Jack A. Pacheco sold 6,666 shares of the stock in a transaction on Thursday, December 26th. The stock was sold at an average price of $20.00, for a total value of $133,320.00. Following the sale, the chief operating officer now owns 235,960 shares in the company, valued at approximately $4,719,200. This represents a 2.75 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Penguin Solutions Trading Down 3.1 %

Shares of PENG stock traded down $0.61 during trading hours on Friday, hitting $19.37. 440,312 shares of the company’s stock were exchanged, compared to its average volume of 1,041,917. Penguin Solutions has a 12-month low of $14.87 and a 12-month high of $29.81. The stock has a market capitalization of $1.03 billion, a P/E ratio of -19.37 and a beta of 1.74. The stock has a 50 day simple moving average of $17.80. The company has a quick ratio of 2.19, a current ratio of 2.65 and a debt-to-equity ratio of 1.65.

Penguin Solutions (NASDAQ:PENG) last posted its quarterly earnings results on Tuesday, October 15th. The company reported $0.23 earnings per share for the quarter, missing the consensus estimate of $0.27 by ($0.04). Penguin Solutions had a positive return on equity of 8.05% and a negative net margin of 4.48%. The business had revenue of $311.15 million during the quarter, compared to the consensus estimate of $325.00 million. Equities analysts anticipate that Penguin Solutions will post 1.33 EPS for the current year.

Analysts Set New Price Targets

A number of brokerages recently issued reports on PENG. Needham & Company LLC dropped their price objective on Penguin Solutions from $35.00 to $25.00 and set a “buy” rating on the stock in a report on Wednesday, October 16th. Barclays reduced their price objective on shares of Penguin Solutions from $27.00 to $22.00 and set an “overweight” rating for the company in a research note on Wednesday, October 16th. Stifel Nicolaus cut their price target on shares of Penguin Solutions from $32.00 to $27.00 and set a “buy” rating for the company in a report on Wednesday, October 16th. The Goldman Sachs Group started coverage on Penguin Solutions in a research report on Friday, November 1st. They issued a “buy” rating and a $21.00 price objective on the stock. Finally, Rosenblatt Securities restated a “buy” rating and issued a $27.00 target price on shares of Penguin Solutions in a research note on Thursday, December 19th. Six investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Penguin Solutions currently has a consensus rating of “Buy” and a consensus target price of $24.17.

About Penguin Solutions

Penguin Solutions, Inc engages in the designing and development of enterprise solutions worldwide. It operates through three segments: Advanced Computing, Integrated Memory, and Optimized LED. It offers dynamic random access memory modules, solid-state and flash storage, and other advanced integrated memory solutions for networking and telecom, data analytics, artificial intelligence and machine learning applications; and supply chain services, including procurement, logistics, inventory management, temporary warehousing, programming, kitting, and packaging services.