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

Penguin Solutions (NASDAQ:PENG) has been assigned an average recommendation of “Buy” from the seven research firms that are currently covering the company, Marketbeat.com reports. Six research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $24.17.

Several equities research analysts have commented on the stock. Barclays decreased their target price on shares of Penguin Solutions from $27.00 to $22.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 16th. Citizens Jmp raised shares of Penguin Solutions to a “strong-buy” rating in a report on Monday, November 18th. JMP Securities started coverage on shares of Penguin Solutions in a report on Monday, November 18th. They issued an “outperform” rating and a $23.00 target price for the company. Needham & Company LLC lowered their price target on Penguin Solutions from $35.00 to $25.00 and set a “buy” rating on the stock in a report on Wednesday, October 16th. Finally, Rosenblatt Securities reaffirmed a “buy” rating and issued a $27.00 price objective on shares of Penguin Solutions in a research note on Thursday.

Insiders Place Their Bets

In related news, COO Jack A. Pacheco sold 13,334 shares of the company’s stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $20.05, for a total transaction of $267,346.70. Following the transaction, the chief operating officer now owns 235,960 shares of the company’s stock, valued at approximately $4,730,998. This represents a 5.35 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Joseph Gates Clark sold 2,264 shares of Penguin Solutions 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 directly owns 95,999 shares of the company’s stock, valued at $1,679,982.50. The trade was a 2.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.40% of the stock is currently owned by company insiders.

Penguin Solutions Stock Up 0.8 %

Shares of NASDAQ:PENG opened at $18.51 on Wednesday. Penguin Solutions has a fifty-two week low of $14.87 and a fifty-two week high of $29.81. The company has a current ratio of 2.65, a quick ratio of 2.19 and a debt-to-equity ratio of 1.65. The company has a 50-day moving average price of $17.62. The stock has a market capitalization of $986.40 million, a P/E ratio of -18.51 and a beta of 1.74.

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

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.