Penguin Solutions, Inc. (NASDAQ:PENG) Given Consensus Recommendation of “Moderate Buy” by Analysts

Shares of Penguin Solutions, Inc. (NASDAQ:PENG) have been given an average recommendation of “Moderate Buy” by the nine brokerages that are currently covering the firm, Marketbeat.com reports. One analyst has rated the stock with a sell rating, one has given a hold rating, six have issued a buy rating and one has issued a strong buy rating on the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $63.3333.

PENG has been the topic of several research reports. Stifel Nicolaus upped their target price on Penguin Solutions from $66.00 to $75.00 and gave the company a “buy” rating in a research report on Wednesday, July 8th. Zacks Research raised Penguin Solutions from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, June 30th. Wall Street Zen lowered Penguin Solutions from a “strong-buy” rating to a “buy” rating in a report on Sunday, July 26th. Weiss Ratings upgraded Penguin Solutions from a “hold (c-)” rating to a “hold (c)” rating in a research note on Wednesday, July 8th. Finally, Citigroup reaffirmed an “outperform” rating on shares of Penguin Solutions in a report on Wednesday, July 8th.

Insider Buying and Selling

In other Penguin Solutions news, SVP Anne Kuykendall sold 4,000 shares of Penguin Solutions stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $64.38, for a total transaction of $257,520.00. Following the completion of the sale, the senior vice president directly owned 120,794 shares in the company, valued at approximately $7,776,717.72. The trade was a 3.21% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Joseph Clark sold 1,327 shares of the company’s stock in a transaction on Thursday, July 23rd. The shares were sold at an average price of $57.47, for a total transaction of $76,262.69. Following the completion of the sale, the senior vice president directly owned 63,056 shares in the company, valued at $3,623,828.32. This trade represents a 2.06% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 9,327 shares of company stock valued at $536,103 over the last three months. 2.90% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Penguin Solutions

A number of institutional investors have recently modified their holdings of the stock. William Blair Investment Management LLC acquired a new stake in shares of Penguin Solutions during the 4th quarter valued at about $18,290,000. Maverick Capital Ltd. acquired a new stake in Penguin Solutions in the first quarter valued at approximately $771,000. California State Teachers Retirement System grew its holdings in Penguin Solutions by 52.8% in the first 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 during the period. Fisher Asset Management LLC purchased a new stake in shares of Penguin Solutions in the fourth quarter valued at approximately $716,000. Finally, Pacer Advisors Inc. raised its stake in shares of Penguin Solutions by 34.0% during the 1st quarter. Pacer Advisors Inc. now owns 261,776 shares of the company’s stock worth $4,607,000 after buying an additional 66,460 shares during the period.

Penguin Solutions Stock Up 2.2%

PENG stock opened at $48.63 on Friday. The stock has a market capitalization of $2.49 billion, a PE ratio of 34.49 and a beta of 2.86. Penguin Solutions has a 52 week low of $16.04 and a 52 week high of $89.86. The company has a quick ratio of 1.10, a current ratio of 1.54 and a debt-to-equity ratio of 0.65. The firm has a 50 day moving average of $59.09 and a 200 day moving average of $43.95.

Penguin Solutions (NASDAQ:PENG) last issued its quarterly earnings results on Tuesday, July 7th. The company reported $0.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.63 by $0.21. Penguin Solutions had a net margin of 6.44% and a return on equity of 28.23%. The business had revenue of $478.71 million for the quarter, compared to analyst estimates of $407.47 million. During the same quarter in the prior year, the business posted $0.52 EPS. Sell-side analysts forecast that Penguin Solutions will post 2.08 earnings per share for the current 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.