Penguin Solutions (NASDAQ:PENG) Releases Earnings Results, Beats Expectations By $0.19 EPS

Penguin Solutions (NASDAQ:PENG) issued its quarterly earnings results on Wednesday. The company reported $0.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.33 by $0.19, Briefing.com reports. Penguin Solutions had a positive return on equity of 11.70% and a negative net margin of 2.21%. The business had revenue of $365.52 million during the quarter, compared to analyst estimates of $344.44 million. The company’s revenue was up 28.3% compared to the same quarter last year. Penguin Solutions updated its FY25 guidance to $1.50-1.70 EPS and its FY 2025 guidance to 1.500-1.700 EPS.

Penguin Solutions Stock Up 4.5 %

NASDAQ PENG opened at $18.05 on Thursday. The company has a market cap of $961.90 million, a price-to-earnings ratio of -34.71 and a beta of 1.83. Penguin Solutions has a 52 week low of $14.87 and a 52 week high of $22.67. The company has a debt-to-equity ratio of 1.61, a quick ratio of 1.75 and a current ratio of 2.33. The stock’s 50 day moving average price is $19.55.

Wall Street Analysts Forecast Growth

PENG has been the topic of several recent analyst reports. Rosenblatt Securities reiterated a “buy” rating and set a $27.00 price objective on shares of Penguin Solutions in a research report on Thursday. Loop Capital started coverage on Penguin Solutions in a research note on Tuesday, January 7th. They issued a “buy” rating and a $30.00 price objective for the company. Needham & Company LLC restated a “buy” rating and issued a $27.00 target price on shares of Penguin Solutions in a report on Thursday. JPMorgan Chase & Co. started coverage on Penguin Solutions in a report on Monday. They set a “neutral” rating and a $20.00 price objective for the company. Finally, Barclays lifted their price objective on shares of Penguin Solutions from $22.00 to $23.00 and gave the company an “overweight” rating in a report on Thursday, January 9th. One equities research analyst has rated the stock with a hold rating, six have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $24.75.

Insiders Place Their Bets

In related news, EVP Jack A. Pacheco sold 3,219 shares of the business’s stock in a transaction on Monday, March 24th. The stock was sold at an average price of $20.00, for a total transaction of $64,380.00. Following the transaction, the executive vice president now directly owns 231,548 shares in the company, valued at $4,630,960. The trade was a 1.37 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Joseph Gates Clark sold 2,131 shares of the stock in a transaction dated Thursday, January 23rd. The shares were sold at an average price of $20.94, for a total value of $44,623.14. Following the completion of the sale, the senior vice president now owns 89,469 shares of the company’s stock, valued at approximately $1,873,480.86. This trade represents a 2.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 18,684 shares of company stock valued at $393,617. 2.60% of the stock is currently owned by 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.