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

Shares of Penguin Solutions (NASDAQ:PENG) have earned a consensus recommendation of “Buy” from the six analysts that are covering the stock, MarketBeat.com reports. Five equities research analysts have rated the stock with a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $23.60.

A number of analysts recently commented on the company. Needham & Company LLC dropped their price target on Penguin Solutions from $35.00 to $25.00 and set a “buy” rating on the stock in a report on Wednesday, October 16th. Barclays dropped their price target on Penguin Solutions from $27.00 to $22.00 and set an “overweight” rating on the stock in a report on Wednesday, October 16th. JMP Securities assumed coverage on Penguin Solutions in a report on Monday, November 18th. They set an “outperform” rating and a $23.00 price target on the stock. Stifel Nicolaus dropped their price target on Penguin Solutions from $32.00 to $27.00 and set a “buy” rating on the stock in a report on Wednesday, October 16th. Finally, The Goldman Sachs Group started coverage on Penguin Solutions in a report on Friday, November 1st. They set a “buy” rating and a $21.00 price target on the stock.

Penguin Solutions Stock Up 2.0 %

Shares of NASDAQ:PENG opened at $20.00 on Wednesday. The stock has a market capitalization of $1.07 billion, a PE ratio of -20.00 and a beta of 1.74. 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 firm’s 50 day moving average is $17.49.

Penguin Solutions (NASDAQ:PENG) last announced its earnings results on Tuesday, October 15th. The company reported $0.23 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.27 by ($0.04). The company had revenue of $311.15 million for the quarter, compared to analysts’ expectations of $325.00 million. Penguin Solutions had a negative net margin of 4.48% and a positive return on equity of 8.05%. As a group, equities research analysts expect that Penguin Solutions will post 1.33 earnings per share for the current year.

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 on Monday, December 9th. The stock was sold at an average price of $20.05, for a total value of $267,346.70. Following the completion of the transaction, the chief operating officer now directly owns 235,960 shares in the company, valued at approximately $4,730,998. The trade was a 5.35 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Joseph Gates Clark sold 2,264 shares of Penguin Solutions stock in a transaction on Thursday, November 14th. The shares were sold at an average price of $17.50, for a total value of $39,620.00. Following the completion of the transaction, the insider now owns 95,999 shares of the company’s stock, valued at approximately $1,679,982.50. This trade represents a 2.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 2.40% of the company’s stock.

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.