Penguin Solutions (NASDAQ:PENG) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Penguin Solutions (NASDAQ:PENG) from a buy rating to a strong-buy rating in a report published on Saturday morning.

PENG has been the topic of a number of other reports. Citizens Jmp upped their price target on Penguin Solutions from $65.00 to $85.00 and gave the company a “market outperform” rating in a research report on Wednesday, July 8th. Barclays lifted their price objective on Penguin Solutions from $27.00 to $40.00 and gave the company an “equal weight” rating in a report on Thursday, July 9th. Zacks Research raised shares of Penguin Solutions from a “hold” rating to a “strong-buy” rating in a report on Tuesday, June 30th. Stifel Nicolaus upped their target price on shares of Penguin Solutions from $66.00 to $75.00 and gave the stock a “buy” rating in a report on Wednesday, July 8th. Finally, Rosenblatt Securities increased their target price on shares of Penguin Solutions from $65.00 to $75.00 and gave the stock a “buy” rating in a research report on Monday, July 6th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Penguin Solutions presently has a consensus rating of “Moderate Buy” and a consensus price target of $63.33.

Penguin Solutions Stock Down 11.9%

NASDAQ PENG opened at $53.23 on Friday. Penguin Solutions has a 1-year low of $16.04 and a 1-year high of $89.86. The company has a market capitalization of $2.73 billion, a price-to-earnings ratio of 37.75 and a beta of 2.83. The stock’s 50 day moving average is $62.15 and its two-hundred day moving average is $35.95. The company has a current ratio of 1.54, a quick ratio of 1.10 and a debt-to-equity ratio of 0.65.

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

Insiders Place Their Bets

In other Penguin Solutions news, SVP Anne Kuykendall sold 4,000 shares of the business’s stock in a transaction on Monday, June 15th. The stock was sold at an average price of $64.38, for a total value of $257,520.00. Following the transaction, the senior vice president owned 120,794 shares of the company’s stock, valued at approximately $7,776,717.72. The trade was a 3.21% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Maximiliane C. Straub sold 3,000 shares of the stock in a transaction on Thursday, May 14th. The stock was sold at an average price of $49.00, for a total value of $147,000.00. Following the sale, the director owned 51,975 shares in the company, valued at $2,546,775. The trade was a 5.46% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 65,574 shares of company stock valued at $3,069,722. Company insiders own 2.90% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Royal Bank of Canada bought a new stake in Penguin Solutions during the 1st quarter worth about $7,250,000. Amundi bought a new position in shares of Penguin Solutions in the first quarter worth about $373,000. AQR Capital Management LLC acquired a new position in shares of Penguin Solutions during the first quarter worth approximately $1,076,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in shares of Penguin Solutions during the first quarter worth approximately $538,000. Finally, Goldman Sachs Group Inc. bought a new stake in shares of Penguin Solutions during the first quarter valued at approximately $3,259,000.

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.