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 company’s 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 of the company’s stock, valued at approximately $4,719,200. The trade was a 2.75 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Penguin Solutions Stock Down 3.1 %

PENG stock opened at $19.37 on Friday. The business’s 50 day simple moving average is $17.88. Penguin Solutions has a 52-week low of $14.87 and a 52-week high of $29.81. The stock has a market cap of $1.03 billion, a P/E ratio of -19.37 and a beta of 1.74. 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 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). Penguin Solutions had a positive return on equity of 8.05% and a negative net margin of 4.48%. The company had revenue of $311.15 million during the quarter, compared to the consensus estimate of $325.00 million. As a group, sell-side analysts anticipate that Penguin Solutions will post 1.33 EPS for the current year.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on PENG. Rosenblatt Securities restated a “buy” rating and set a $27.00 target price on shares of Penguin Solutions in a report on Thursday, December 19th. Citizens Jmp raised Penguin Solutions to a “strong-buy” rating in a research report on Monday, November 18th. The Goldman Sachs Group began coverage on Penguin Solutions in a report on Friday, November 1st. They set a “buy” rating and a $21.00 target price on the stock. Stifel Nicolaus decreased their price target on Penguin Solutions from $32.00 to $27.00 and set a “buy” rating for the company in a report on Wednesday, October 16th. Finally, Needham & Company LLC lowered their price objective on shares of Penguin Solutions from $35.00 to $25.00 and set a “buy” rating for the company in a research report on Wednesday, October 16th. Six investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Penguin Solutions currently has a consensus rating of “Buy” and an average target price of $24.17.

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.