Penguin Solutions (NASDAQ:PENG) Receives Average Recommendation of “Buy” from Analysts

Shares of Penguin Solutions (NASDAQ:PENG) have been given a consensus rating of “Buy” by the nine research firms that are presently covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a hold rating, six have issued a buy rating and two have issued a strong buy rating on the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $24.94.

PENG has been the topic of several research analyst reports. JPMorgan Chase & Co. assumed coverage on shares of Penguin Solutions in a research note on Monday, March 31st. They issued a “neutral” rating and a $20.00 price objective on the stock. The Goldman Sachs Group decreased their price target on shares of Penguin Solutions from $26.00 to $22.50 and set a “buy” rating on the stock in a research report on Thursday, April 3rd. Wall Street Zen raised shares of Penguin Solutions from a “buy” rating to a “strong-buy” rating in a research report on Thursday. Rosenblatt Securities reiterated a “buy” rating and issued a $27.00 target price on shares of Penguin Solutions in a research note on Thursday, April 17th. Finally, Needham & Company LLC reissued a “buy” rating and set a $27.00 target price on shares of Penguin Solutions in a research report on Thursday, April 3rd.

Insider Transactions at Penguin Solutions

In other news, EVP Jack A. Pacheco sold 3,219 shares of the company’s stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $20.00, for a total value of $64,380.00. Following the sale, the executive vice president now directly owns 231,548 shares in the company, valued at approximately $4,630,960. This represents a 1.37% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 2.60% of the stock is owned by insiders.

Hedge Funds Weigh In On Penguin Solutions

Several hedge funds and other institutional investors have recently modified their holdings of PENG. Crews Bank & Trust acquired a new position in Penguin Solutions during the first quarter worth $28,000. IFP Advisors Inc acquired a new stake in shares of Penguin Solutions in the 1st quarter valued at $39,000. CWM LLC bought a new stake in shares of Penguin Solutions in the 1st quarter worth about $39,000. Virtus Advisers LLC acquired a new stake in shares of Penguin Solutions during the 1st quarter worth about $43,000. Finally, PNC Financial Services Group Inc. acquired a new stake in shares of Penguin Solutions during the 1st quarter worth about $62,000.

Penguin Solutions Trading Down 2.2%

Shares of NASDAQ:PENG opened at $17.64 on Friday. The company has a debt-to-equity ratio of 1.61, a quick ratio of 1.75 and a current ratio of 2.33. The stock’s 50-day moving average is $17.45 and its 200-day moving average is $18.67. The company has a market cap of $931.41 million, a P/E ratio of -33.92 and a beta of 2.00. Penguin Solutions has a 52-week low of $14.20 and a 52-week high of $22.67.

Penguin Solutions (NASDAQ:PENG) last released its earnings results on Wednesday, April 2nd. The company reported $0.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.33 by $0.19. Penguin Solutions had a positive return on equity of 11.70% and a negative net margin of 2.21%. The firm had revenue of $365.52 million for the quarter, compared to analyst estimates of $344.44 million. The business’s revenue for the quarter was up 28.3% compared to the same quarter last year. Equities research analysts predict that Penguin Solutions will post 1.05 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.