Penguin Solutions (NASDAQ:PENG) Receives Average Recommendation of “Buy” from Analysts

Penguin Solutions (NASDAQ:PENG) has earned a consensus recommendation of “Buy” from the eight brokerages that are currently covering the stock, Marketbeat reports. Six analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $25.43.

Several analysts have issued reports on PENG shares. Rosenblatt Securities reissued a “buy” rating and set a $27.00 target price on shares of Penguin Solutions in a research note on Thursday, December 19th. Loop Capital initiated coverage on Penguin Solutions in a research report on Tuesday, January 7th. They set a “buy” rating and a $30.00 price objective for the company. Barclays increased their price target on shares of Penguin Solutions from $22.00 to $23.00 and gave the stock an “overweight” rating in a research report on Thursday. The Goldman Sachs Group initiated coverage on shares of Penguin Solutions in a report on Friday, November 1st. They set a “buy” rating and a $21.00 price target on the stock. Finally, Stifel Nicolaus cut their price objective on Penguin Solutions from $32.00 to $27.00 and set a “buy” rating for the company in a report on Wednesday, October 16th.

Insider Buying and Selling at Penguin Solutions

In other news, COO Jack A. Pacheco sold 13,334 shares of Penguin Solutions stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $20.05, for a total value of $267,346.70. Following the transaction, the chief operating officer now owns 235,960 shares of the company’s stock, valued at $4,730,998. This trade represents a 5.35 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Joseph Gates Clark sold 2,264 shares of the firm’s stock in a transaction on Thursday, November 14th. The shares were sold at an average price of $17.50, for a total transaction of $39,620.00. Following the completion of the transaction, the insider now owns 95,999 shares in the company, 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. Insiders have sold a total of 22,264 shares of company stock worth $440,287 over the last three months. Corporate insiders own 2.60% of the company’s stock.

Penguin Solutions Trading Up 7.9 %

Shares of PENG opened at $20.65 on Friday. The business has a 50-day moving average of $18.67. The company has a debt-to-equity ratio of 1.65, a current ratio of 2.65 and a quick ratio of 2.19. The stock has a market cap of $1.10 billion, a PE ratio of -20.65 and a beta of 1.69. Penguin Solutions has a 1-year low of $14.87 and a 1-year high of $29.81.

Penguin Solutions (NASDAQ:PENG) last released its earnings results on Tuesday, October 15th. The company reported $0.23 earnings per share for the quarter, missing the consensus estimate of $0.27 by ($0.04). The firm had revenue of $311.15 million during the quarter, compared to analysts’ expectations 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 predict that Penguin Solutions will post 1.33 earnings per share 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.