Penguin Solutions (NASDAQ:PENG) Sets New 1-Year High – What’s Next?

Penguin Solutions, Inc. (NASDAQ:PENG)’s share price reached a new 52-week high on Monday . The stock traded as high as $31.89 and last traded at $31.3080, with a volume of 166635 shares changing hands. The stock had previously closed at $31.24.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on PENG shares. Stifel Nicolaus dropped their price objective on shares of Penguin Solutions from $27.00 to $24.00 and set a “buy” rating on the stock in a report on Thursday, April 2nd. Wall Street Zen raised Penguin Solutions from a “hold” rating to a “buy” rating in a research note on Saturday, February 21st. Needham & Company LLC increased their price objective on Penguin Solutions from $25.00 to $27.00 and gave the stock a “buy” rating in a report on Thursday, April 2nd. The Goldman Sachs Group began coverage on Penguin Solutions in a research note on Tuesday, January 13th. They issued a “buy” rating and a $25.00 target price on the stock. Finally, Barclays cut shares of Penguin Solutions from an “overweight” rating to an “equal weight” rating and raised their price target for the stock from $23.00 to $27.00 in a research note on Wednesday, April 22nd. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $27.25.

Penguin Solutions Stock Up 3.9%

The company has a debt-to-equity ratio of 1.09, a current ratio of 2.10 and a quick ratio of 1.55. The firm has a 50-day moving average of $21.47 and a 200 day moving average of $20.69. The stock has a market capitalization of $1.65 billion, a price-to-earnings ratio of 45.06 and a beta of 2.66.

Penguin Solutions (NASDAQ:PENG) last announced its quarterly earnings data on Wednesday, April 1st. The company reported $0.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.43 by $0.09. Penguin Solutions had a return on equity of 19.94% and a net margin of 4.07%.The company had revenue of $343.00 million for the quarter, compared to analysts’ expectations of $339.00 million. As a group, sell-side analysts forecast that Penguin Solutions, Inc. will post 1.66 earnings per share for the current fiscal year.

Insider Activity

In other news, SVP Joseph Gates Clark sold 12,546 shares of the business’s stock in a transaction dated Thursday, April 9th. The shares were sold at an average price of $22.55, for a total transaction of $282,912.30. Following the transaction, the senior vice president directly owned 99,726 shares in the company, valued at $2,248,821.30. The trade was a 11.17% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Anne Kuykendall sold 4,000 shares of the business’s stock in a transaction dated Monday, March 16th. The stock was sold at an average price of $17.75, for a total transaction of $71,000.00. Following the transaction, the senior vice president owned 131,352 shares in the company, valued at $2,331,498. This represents a 2.96% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 30,115 shares of company stock worth $723,997 over the last 90 days. 2.90% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. CWA Asset Management Group LLC increased its stake in shares of Penguin Solutions by 115.0% during the 3rd quarter. CWA Asset Management Group LLC now owns 173,406 shares of the company’s stock worth $4,557,000 after purchasing an additional 92,737 shares during the last quarter. Kennedy Capital Management LLC boosted its position in Penguin Solutions by 31.9% during the third quarter. Kennedy Capital Management LLC now owns 992,168 shares of the company’s stock worth $26,074,000 after purchasing an additional 240,159 shares during the period. SG Americas Securities LLC bought a new position in Penguin Solutions during the third quarter worth $3,920,000. Barclays PLC boosted its position in Penguin Solutions by 46.9% during the third quarter. Barclays PLC now owns 1,055,189 shares of the company’s stock worth $27,730,000 after purchasing an additional 336,644 shares during the period. Finally, American Century Companies Inc. boosted its position in Penguin Solutions by 35.3% during the third quarter. American Century Companies Inc. now owns 1,294,279 shares of the company’s stock worth $34,014,000 after purchasing an additional 337,564 shares during the period.

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.