Penguin Solutions (NASDAQ:PENG) Given Average Rating of “Buy” by Brokerages

Shares of Penguin Solutions (NASDAQ:PENG) have been given an average recommendation of “Buy” by the eight analysts that are presently covering the company, Marketbeat Ratings reports. Six equities research analysts have rated the stock with a buy recommendation and two have given a strong buy recommendation to the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $25.43.

Several equities analysts have recently commented on PENG shares. JMP Securities initiated coverage on Penguin Solutions in a report on Monday, November 18th. They set an “outperform” rating and a $23.00 target price for the company. Stifel Nicolaus dropped their target price on Penguin Solutions from $32.00 to $27.00 and set a “buy” rating on the stock in a research report on Wednesday, October 16th. Citizens Jmp upgraded Penguin Solutions to a “strong-buy” rating in a research note on Monday, November 18th. Rosenblatt Securities restated a “buy” rating and set a $27.00 price target on shares of Penguin Solutions in a research report on Thursday, December 19th. Finally, Needham & Company LLC boosted their target price on shares of Penguin Solutions from $25.00 to $27.00 and gave the company a “buy” rating in a research note on Thursday.

Penguin Solutions Price Performance

Shares of PENG opened at $20.65 on Friday. The company has a market capitalization of $1.10 billion, a PE ratio of -20.65 and a beta of 1.69. The stock’s fifty day moving average price is $18.67. The company has a debt-to-equity ratio of 1.65, a current ratio of 2.65 and a quick ratio of 2.19. Penguin Solutions has a 12-month low of $14.87 and a 12-month high of $29.81.

Penguin Solutions (NASDAQ:PENG) last posted its quarterly earnings results on Tuesday, October 15th. The company reported $0.23 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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. As a group, research analysts anticipate that Penguin Solutions will post 1.33 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider Joseph Gates Clark sold 2,264 shares of the company’s stock in a transaction on Thursday, November 14th. The stock was sold at an average price of $17.50, for a total value of $39,620.00. Following the completion of the sale, the insider now owns 95,999 shares in the company, valued at $1,679,982.50. This represents a 2.30 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, COO Jack A. Pacheco sold 6,666 shares of Penguin Solutions stock in a transaction dated Thursday, December 26th. The stock was sold at an average price of $20.00, for a total value of $133,320.00. Following the transaction, the chief operating officer now directly owns 235,960 shares in the company, valued at approximately $4,719,200. The trade was a 2.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 22,264 shares of company stock worth $440,287. 2.60% of the stock is owned by corporate insiders.

Penguin Solutions Company Profile

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.