Insider Selling: PENG (NASDAQ:PENG) Insider Sells $39,620.00 in Stock

PENG (NASDAQ:PENG) insider Joseph Gates Clark sold 2,264 shares of the stock in a transaction dated Thursday, November 14th. The shares were sold at an average price of $17.50, for a total transaction of $39,620.00. Following the sale, the insider now directly 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 transaction was disclosed in a legal filing with the SEC, which is available at this link.

PENG Trading Down 4.2 %

PENG stock opened at $16.42 on Monday. The company has a market capitalization of $875.02 million, a P/E ratio of -16.42 and a beta of 1.70. PENG has a 52 week low of $14.87 and a 52 week high of $29.81. The company has a quick ratio of 2.19, a current ratio of 2.65 and a debt-to-equity ratio of 1.65.

PENG (NASDAQ:PENG) last posted 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 company had revenue of $311.15 million during 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%. As a group, analysts predict that PENG will post 1.33 EPS for the current fiscal year.

Analysts Set New Price Targets

PENG has been the subject of several recent analyst reports. Barclays reduced their price objective on shares of PENG from $27.00 to $22.00 and set an “overweight” rating for the company in a research note on Wednesday, October 16th. The Goldman Sachs Group started coverage on PENG in a research report on Friday, November 1st. They set a “buy” rating and a $21.00 price target on the stock. Stifel Nicolaus lowered their price objective on PENG from $32.00 to $27.00 and set a “buy” rating for the company in a research report on Wednesday, October 16th. Finally, Needham & Company LLC dropped their target price on PENG from $35.00 to $25.00 and set a “buy” rating on the stock in a research note on Wednesday, October 16th.

PENG Company Profile

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.