Penguin Solutions (NASDAQ:PENG) Price Target Raised to $23.00

Penguin Solutions (NASDAQ:PENG) had its price objective lifted by Barclays from $22.00 to $23.00 in a research report released on Thursday,Benzinga reports. The firm currently has an overweight rating on the stock.

PENG has been the topic of a number of other research reports. Loop Capital assumed coverage on Penguin Solutions in a research report on Tuesday, January 7th. They set a “buy” rating and a $30.00 price objective on the stock. Rosenblatt Securities restated a “buy” rating and set a $27.00 price target on shares of Penguin Solutions in a report on Thursday, December 19th. The Goldman Sachs Group initiated coverage on shares of Penguin Solutions in a report on Friday, November 1st. They issued a “buy” rating and a $21.00 price objective for the company. Citizens Jmp raised shares of Penguin Solutions to a “strong-buy” rating in a report on Monday, November 18th. Finally, JMP Securities initiated coverage on shares of Penguin Solutions in a research note on Monday, November 18th. They set an “outperform” rating and a $23.00 price target for the company. Six investment analysts have rated the stock with a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, Penguin Solutions has a consensus rating of “Buy” and an average target price of $25.43.

Penguin Solutions Trading Up 7.9 %

Shares of NASDAQ PENG opened at $20.65 on Thursday. The firm has a market capitalization of $1.10 billion, a P/E ratio of -20.65 and a beta of 1.69. The company has a debt-to-equity ratio of 1.65, a quick ratio of 2.19 and a current ratio of 2.65. Penguin Solutions has a 12 month low of $14.87 and a 12 month high of $29.81. The business’s 50-day simple moving average is $18.67.

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

Insider Transactions at Penguin Solutions

In related news, COO Jack A. Pacheco sold 13,334 shares of the company’s stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $20.05, for a total transaction of $267,346.70. Following the sale, the chief operating officer now owns 235,960 shares in the company, valued at $4,730,998. This represents a 5.35 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, 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 value of $39,620.00. Following the completion of the sale, the insider now owns 95,999 shares of the company’s stock, valued at approximately $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. Insiders sold a total of 22,264 shares of company stock worth $440,287 over the last three months. 2.60% of the stock is owned by company insiders.

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.