Penguin Solutions (PENG) Expected to Announce Earnings on Wednesday

Penguin Solutions (NASDAQ:PENG) will likely be releasing its earnings data after the market closes on Wednesday, April 2nd. Analysts expect Penguin Solutions to post earnings of $0.33 per share and revenue of $344.44 million for the quarter.

Penguin Solutions Trading Down 0.5 %

Shares of NASDAQ:PENG opened at $17.37 on Tuesday. The company has a debt-to-equity ratio of 1.61, a current ratio of 2.33 and a quick ratio of 1.75. The firm has a 50 day moving average of $19.68. Penguin Solutions has a 12-month low of $14.87 and a 12-month high of $22.67. The firm has a market capitalization of $925.66 million, a P/E ratio of -33.40 and a beta of 1.70.

Analyst Ratings Changes

Several analysts have commented on the company. Loop Capital started coverage on Penguin Solutions in a report on Tuesday, January 7th. They issued a “buy” rating and a $30.00 price objective on the stock. Needham & Company LLC upped their price objective on shares of Penguin Solutions from $25.00 to $27.00 and gave the company a “buy” rating in a research note on Thursday, January 9th. JPMorgan Chase & Co. started coverage on shares of Penguin Solutions in a research note on Monday. They issued a “neutral” rating and a $20.00 target price on the stock. Rosenblatt Securities restated a “buy” rating and issued a $27.00 price target on shares of Penguin Solutions in a research report on Thursday, December 19th. Finally, Barclays lifted their price objective on Penguin Solutions from $22.00 to $23.00 and gave the stock an “overweight” rating in a research report on Thursday, January 9th. One research analyst has rated the stock with a hold rating, six have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Buy” and an average price target of $24.75.

Insider Buying and Selling

In other Penguin Solutions news, SVP Joseph Gates Clark sold 2,131 shares of the company’s stock in a transaction on Thursday, January 23rd. The stock was sold at an average price of $20.94, for a total transaction of $44,623.14. Following the transaction, the senior vice president now directly owns 89,469 shares in the company, valued at $1,873,480.86. This represents a 2.33 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Jack A. Pacheco sold 6,667 shares of Penguin Solutions stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $22.14, for a total value of $147,607.38. Following the completion of the sale, the chief operating officer now directly owns 231,548 shares of the company’s stock, valued at $5,126,472.72. The trade was a 2.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 18,684 shares of company stock valued at $393,617. 2.60% of the stock is currently owned by insiders.

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.