Penguin Solutions’ (PENG) “Buy” Rating Reaffirmed at Rosenblatt Securities

Penguin Solutions (NASDAQ:PENG)‘s stock had its “buy” rating reissued by investment analysts at Rosenblatt Securities in a research report issued to clients and investors on Wednesday, Benzinga reports. They presently have a $100.00 price target on the stock. Rosenblatt Securities‘s price target would indicate a potential upside of 88.01% from the stock’s previous close.

A number of other equities analysts also recently weighed in on the stock. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $85.00 target price on shares of Penguin Solutions in a research note on Wednesday, October 7th. Stifel Nicolaus increased their price target on shares of Penguin Solutions from $75.00 to $85.00 and gave the company a “buy” rating in a research note on Wednesday, October 7th. Needham & Company LLC raised their price target on shares of Penguin Solutions from $80.00 to $85.00 and gave the company a “buy” rating in a report on Wednesday, October 7th. Citigroup restated an “outperform” rating on shares of Penguin Solutions in a research report on Wednesday, July 8th. Finally, Weiss Ratings raised Penguin Solutions from a “hold (c)” rating to a “hold (c+)” rating in a report on Friday, October 16th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $87.50.

Penguin Solutions Price Performance

Shares of PENG stock opened at $53.19 on Wednesday. Penguin Solutions has a 52 week low of $16.04 and a 52 week high of $89.86. The stock has a market capitalization of $3.20 billion, a PE ratio of 19.79, a PEG ratio of 0.56 and a beta of 2.87. The company has a debt-to-equity ratio of 1.37, a quick ratio of 1.25 and a current ratio of 1.88. The stock’s fifty day moving average is $56.15 and its 200-day moving average is $44.18.

Penguin Solutions (NASDAQ:PENG) last released its quarterly earnings results on Tuesday, October 6th. The company reported $1.00 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.77 by $0.23. The business had revenue of $566.68 million during the quarter, compared to analysts’ expectations of $520.99 million. Penguin Solutions had a return on equity of 36.71% and a net margin of 10.43%. During the same period in the previous year, the business posted $0.11 earnings per share. Penguin Solutions has set its FY 2027 guidance at 3.750-5.15 EPS. Equities research analysts expect that Penguin Solutions will post 4.05 EPS for the current fiscal year.

Insider Buying and Selling at Penguin Solutions

In other news, SVP Anne Kuykendall sold 4,000 shares of the firm’s stock in a transaction dated Monday, August 24th. The shares were sold at an average price of $50.58, for a total value of $202,320.00. Following the transaction, the senior vice president owned 112,994 shares of the company’s stock, valued at approximately $5,715,236.52. This trade represents a 3.42% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Anthony George Frey sold 4,631 shares of Penguin Solutions stock in a transaction that occurred on Thursday, October 29th. The stock was sold at an average price of $58.91, for a total transaction of $272,812.21. Following the sale, the senior vice president owned 77,853 shares of the company’s stock, valued at approximately $4,586,320.23. This represents a 5.61% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 10,238 shares of company stock worth $560,552. Company insiders own 2.90% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Parallel Advisors LLC grew its holdings in shares of Penguin Solutions by 596.9% in the 3rd quarter. Parallel Advisors LLC now owns 1,338 shares of the company’s stock valued at $73,000 after buying an additional 1,146 shares during the period. CenterBook Partners LP lifted its holdings in Penguin Solutions by 317.1% during the third quarter. CenterBook Partners LP now owns 24,030 shares of the company’s stock worth $1,314,000 after acquiring an additional 18,269 shares in the last quarter. Oregon Public Employees Retirement Fund lifted its holdings in Penguin Solutions by 10.6% during the third quarter. Oregon Public Employees Retirement Fund now owns 11,525 shares of the company’s stock worth $630,000 after acquiring an additional 1,100 shares in the last quarter. IPG Investment Advisors LLC grew its stake in Penguin Solutions by 118.1% in the third quarter. IPG Investment Advisors LLC now owns 6,352 shares of the company’s stock valued at $347,000 after acquiring an additional 3,439 shares during the period. Finally, Vise Technologies Inc. grew its stake in Penguin Solutions by 71.8% in the third quarter. Vise Technologies Inc. now owns 8,480 shares of the company’s stock valued at $464,000 after acquiring an additional 3,545 shares during the period.

About Penguin Solutions

Penguin Solutions, Inc provides technology products and services for data center, cloud, artificial intelligence, high-performance computing, edge computing and embedded applications. The company designs and delivers memory products, computing platforms and integrated infrastructure intended to help organizations manage demanding workloads and deploy specialized technology environments.

Its offerings include memory modules and other memory-related products, high-performance computing systems, servers, storage and networking solutions, and software and services for infrastructure management.