Penguin Solutions’ (PENG) “Market Outperform” Rating Reiterated at JMP Securities

JMP Securities restated their market outperform rating on shares of Penguin Solutions (NASDAQ:PENG) in a research report sent to investors on Wednesday,Benzinga reports. The firm currently has a $26.00 target price on the stock.

A number of other research analysts also recently commented on PENG. JPMorgan Chase & Co. boosted their price objective on shares of Penguin Solutions from $21.00 to $24.00 and gave the company a “neutral” rating in a research report on Thursday, July 17th. Loop Capital boosted their price objective on shares of Penguin Solutions from $30.00 to $35.00 and gave the company a “buy” rating in a research report on Monday, July 14th. Rosenblatt Securities lowered their price target on shares of Penguin Solutions from $36.00 to $30.00 and set a “buy” rating on the stock in a report on Wednesday. Wall Street Zen cut shares of Penguin Solutions from a “strong-buy” rating to a “buy” rating in a report on Saturday, July 12th. Finally, Stifel Nicolaus boosted their target price on Penguin Solutions from $27.00 to $31.00 and gave the company a “buy” rating in a research note on Monday, October 6th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Penguin Solutions has a consensus rating of “Moderate Buy” and a consensus price target of $28.00.

Penguin Solutions Price Performance

NASDAQ:PENG opened at $21.16 on Wednesday. The company has a quick ratio of 2.24, a current ratio of 2.25 and a debt-to-equity ratio of 1.09. The business’s 50-day moving average price is $25.04 and its 200 day moving average price is $21.34. Penguin Solutions has a 52-week low of $14.20 and a 52-week high of $29.80. The firm has a market cap of $1.11 billion, a P/E ratio of 72.97 and a beta of 2.20.

Penguin Solutions (NASDAQ:PENG) last released its earnings results on Tuesday, July 8th. The company reported $0.47 EPS for the quarter, topping analysts’ consensus estimates of $0.30 by $0.17. Penguin Solutions had a net margin of 1.82% and a return on equity of 14.45%. The business had revenue of $324.25 million for the quarter, compared to the consensus estimate of $330.82 million. As a group, sell-side analysts predict that Penguin Solutions will post 1.05 earnings per share for the current fiscal year.

Insider Activity at Penguin Solutions

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

Institutional Investors Weigh In On Penguin Solutions

A number of large investors have recently bought and sold shares of PENG. Osaic Holdings Inc. lifted its position in Penguin Solutions by 20.8% during the 2nd quarter. Osaic Holdings Inc. now owns 3,583 shares of the company’s stock worth $71,000 after buying an additional 617 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its stake in shares of Penguin Solutions by 6.2% in the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 13,545 shares of the company’s stock worth $268,000 after acquiring an additional 792 shares during the last quarter. Inspire Investing LLC raised its stake in shares of Penguin Solutions by 3.6% in the second quarter. Inspire Investing LLC now owns 24,293 shares of the company’s stock worth $481,000 after acquiring an additional 835 shares during the last quarter. Crews Bank & Trust acquired a new position in shares of Penguin Solutions during the first quarter worth approximately $28,000. Finally, CWM LLC grew its stake in shares of Penguin Solutions by 82.1% during the second quarter. CWM LLC now owns 4,111 shares of the company’s stock valued at $81,000 after purchasing an additional 1,854 shares during the last quarter.

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.