Penguin Solutions (NASDAQ:PENG) Sets New 12-Month High Following Analyst Upgrade

Penguin Solutions, Inc. (NASDAQ:PENG) shares hit a new 52-week high during mid-day trading on Monday after Stifel Nicolaus raised their price target on the stock from $27.00 to $31.00. Stifel Nicolaus currently has a buy rating on the stock. Penguin Solutions traded as high as $29.29 and last traded at $29.24, with a volume of 150604 shares trading hands. The stock had previously closed at $27.75.

Several other equities research analysts have also recently commented on PENG. Wall Street Zen cut Penguin Solutions from a “strong-buy” rating to a “buy” rating in a research note on Saturday, July 12th. Loop Capital raised their price target on Penguin Solutions from $30.00 to $35.00 and gave the company a “buy” rating in a research report on Monday, July 14th. JPMorgan Chase & Co. increased their price objective on Penguin Solutions from $21.00 to $24.00 and gave the company a “neutral” rating in a research note on Thursday, July 17th. Needham & Company LLC raised their price target on Penguin Solutions from $27.00 to $30.00 and gave the stock a “buy” rating in a research note on Tuesday, July 22nd. Finally, Rosenblatt Securities lifted their price objective on Penguin Solutions from $27.00 to $36.00 and gave the company a “buy” rating in a research note on Wednesday, October 1st. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $28.75.

Insider Activity

In other Penguin Solutions news, EVP Jack A. Pacheco sold 63,447 shares of the stock in a transaction dated Monday, July 21st. The stock was sold at an average price of $24.83, for a total value of $1,575,389.01. Following the completion of the sale, the executive vice president directly owned 227,231 shares in the company, valued at $5,642,145.73. This represents a 21.83% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Penny Herscher sold 2,046 shares of the stock in a transaction dated Tuesday, July 15th. The stock was sold at an average price of $25.42, for a total value of $52,009.32. Following the completion of the sale, the director owned 18,222 shares of the company’s stock, valued at $463,203.24. This trade represents a 10.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 66,175 shares of company stock valued at $1,644,448 over the last 90 days. Corporate insiders own 2.60% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. New York State Teachers Retirement System acquired a new position in shares of Penguin Solutions during the first quarter worth about $248,000. Allspring Global Investments Holdings LLC acquired a new position in Penguin Solutions during the first quarter valued at approximately $779,000. Cambridge Investment Research Advisors Inc. acquired a new position in Penguin Solutions during the first quarter valued at approximately $188,000. Principal Financial Group Inc. acquired a new position in Penguin Solutions during the first quarter valued at approximately $4,608,000. Finally, Charles Schwab Investment Management Inc. acquired a new position in Penguin Solutions during the first quarter valued at approximately $14,786,000.

Penguin Solutions Stock Up 5.4%

The stock has a market capitalization of $1.53 billion, a price-to-earnings ratio of -103.55 and a beta of 2.20. The firm has a 50-day moving average of $25.00 and a 200 day moving average of $21.19. The company has a debt-to-equity ratio of 1.08, a current ratio of 2.62 and a quick ratio of 2.24.

Penguin Solutions (NASDAQ:PENG) last released its quarterly earnings data on Tuesday, July 8th. The company reported $0.47 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.30 by $0.17. Penguin Solutions had a positive return on equity of 13.27% and a negative net margin of 0.68%.The company had revenue of $324.25 million during the quarter, compared to analysts’ expectations of $330.82 million. Penguin Solutions has set its FY 2025 guidance at 1.750-1.850 EPS. As a group, sell-side analysts forecast that Penguin Solutions, Inc. will post 1.05 earnings per share for the current fiscal year.

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.