Penguin Solutions, Inc. (NASDAQ:PENG) Receives Average Recommendation of “Moderate Buy” from Brokerages

Shares of Penguin Solutions, Inc. (NASDAQ:PENG) have earned an average recommendation of “Moderate Buy” from the ten research firms that are currently covering the stock, MarketBeat.com reports. Four investment analysts have rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $36.8750.

Several research analysts recently commented on PENG shares. Needham & Company LLC boosted their price objective on shares of Penguin Solutions from $25.00 to $27.00 and gave the stock a “buy” rating in a research note on Thursday, April 2nd. Weiss Ratings lowered shares of Penguin Solutions from a “hold (c)” rating to a “hold (c-)” rating in a research note on Wednesday, May 13th. Zacks Research lowered shares of Penguin Solutions from a “strong-buy” rating to a “hold” rating in a research note on Monday, June 1st. Wall Street Zen upgraded shares of Penguin Solutions from a “hold” rating to a “buy” rating in a research note on Sunday, May 17th. Finally, Stifel Nicolaus boosted their price objective on shares of Penguin Solutions from $24.00 to $66.00 and gave the stock a “buy” rating in a research note on Tuesday, June 2nd.

Insider Activity at Penguin Solutions

In other Penguin Solutions news, Director Sandeep Nayyar sold 12,893 shares of the company’s stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $45.09, for a total transaction of $581,345.37. Following the transaction, the director owned 32,524 shares in the company, valued at approximately $1,466,507.16. This represents a 28.39% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Joseph Gates Clark sold 12,546 shares of the company’s stock in a transaction that occurred on 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 owned 99,726 shares in the company, valued at $2,248,821.30. The trade was a 11.17% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 83,120 shares of company stock worth $3,486,734. 2.90% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the stock. Pacer Advisors Inc. increased its stake in Penguin Solutions by 34.0% during the 1st quarter. Pacer Advisors Inc. now owns 261,776 shares of the company’s stock valued at $4,607,000 after purchasing an additional 66,460 shares in the last quarter. California State Teachers Retirement System increased its stake in Penguin Solutions by 52.8% during the 1st quarter. California State Teachers Retirement System now owns 74,580 shares of the company’s stock valued at $1,313,000 after purchasing an additional 25,763 shares in the last quarter. Maverick Capital Ltd. acquired a new position in Penguin Solutions during the 1st quarter valued at approximately $771,000. Quantinno Capital Management LP increased its stake in Penguin Solutions by 16.6% during the 1st quarter. Quantinno Capital Management LP now owns 28,318 shares of the company’s stock valued at $498,000 after purchasing an additional 4,036 shares in the last quarter. Finally, Paradigm Capital Management Inc. NY increased its stake in Penguin Solutions by 73.8% during the 1st quarter. Paradigm Capital Management Inc. NY now owns 1,605,100 shares of the company’s stock valued at $28,250,000 after purchasing an additional 681,700 shares in the last quarter.

Penguin Solutions Trading Up 3.2%

NASDAQ PENG opened at $66.77 on Friday. The company has a quick ratio of 1.55, a current ratio of 2.10 and a debt-to-equity ratio of 1.09. The firm has a market cap of $3.39 billion, a PE ratio of 92.74 and a beta of 2.89. The company has a 50 day moving average price of $49.46 and a 200 day moving average price of $30.14. Penguin Solutions has a 52 week low of $16.04 and a 52 week high of $77.40.

Penguin Solutions (NASDAQ:PENG) last posted its quarterly earnings data on Wednesday, April 1st. The company reported $0.52 EPS for the quarter, topping the consensus estimate of $0.43 by $0.09. The firm had revenue of $343.00 million during the quarter, compared to analyst estimates of $339.00 million. Penguin Solutions had a net margin of 4.07% and a return on equity of 19.94%. As a group, sell-side analysts forecast that Penguin Solutions will post 1.79 EPS for the current fiscal year.

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.