PENG (NASDAQ:PENG) Receives $23.60 Average PT from Brokerages

PENG (NASDAQ:PENG) has earned a consensus rating of “Buy” from the six analysts that are currently covering the company, Marketbeat Ratings reports. Five investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $23.60.

A number of equities analysts have recently commented on the company. Barclays lowered their price objective on PENG from $27.00 to $22.00 and set an “overweight” rating for the company in a research report on Wednesday, October 16th. Citizens Jmp raised PENG to a “strong-buy” rating in a report on Monday, November 18th. JMP Securities began coverage on PENG in a report on Monday, November 18th. They issued an “outperform” rating and a $23.00 price target for the company. Needham & Company LLC lowered their price target on PENG from $35.00 to $25.00 and set a “buy” rating for the company in a report on Wednesday, October 16th. Finally, Stifel Nicolaus decreased their price objective on PENG from $32.00 to $27.00 and set a “buy” rating for the company in a report on Wednesday, October 16th.

Insider Activity

In other news, insider Joseph Gates Clark sold 2,264 shares of the company’s stock in a transaction that occurred on Thursday, November 14th. The stock was sold at an average price of $17.50, for a total transaction 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 2.40% of the company’s stock.

PENG Stock Performance

Shares of PENG opened at $17.99 on Friday. The stock has a market capitalization of $958.69 million, a P/E ratio of -17.99 and a beta of 1.70. PENG has a 12-month low of $14.87 and a 12-month high of $29.81. The company has a debt-to-equity ratio of 1.65, a quick ratio of 2.19 and a current ratio of 2.65.

PENG (NASDAQ:PENG) last issued 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). The business had revenue of $311.15 million for the quarter, compared to analysts’ expectations of $325.00 million. PENG had a positive return on equity of 8.05% and a negative net margin of 4.48%. On average, analysts forecast that PENG will post 1.33 earnings per share for the current fiscal year.

About PENG

SMART Global Holdings, Inc, a memory-focused company, engages in the designing and development of enterprise solutions in the United States, China, Europe, and internationally. It operates through Memory Solutions, Intelligent Platform Solutions, and LED Solutions segments. The company offers dynamic random access memory modules, solid-state and flash storage, and other advanced 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.