Penguin Solutions (NASDAQ:PENG) Given Average Rating of “Buy” by Analysts

Shares of Penguin Solutions (NASDAQ:PENG) have earned a consensus recommendation of “Buy” from the six research firms that are currently covering the company, MarketBeat.com reports. Five research analysts have rated the stock with a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $23.60.

A number of brokerages have recently issued reports on PENG. JMP Securities began coverage on Penguin Solutions in a research report on Monday, November 18th. They set an “outperform” rating and a $23.00 price objective for the company. Stifel Nicolaus lowered their price objective on Penguin Solutions from $32.00 to $27.00 and set a “buy” rating for the company in a research report on Wednesday, October 16th. Needham & Company LLC lowered their price objective on Penguin Solutions from $35.00 to $25.00 and set a “buy” rating for the company in a research report on Wednesday, October 16th. Barclays lowered their price objective on Penguin Solutions from $27.00 to $22.00 and set an “overweight” rating for the company in a research report on Wednesday, October 16th. Finally, The Goldman Sachs Group assumed coverage on Penguin Solutions in a research note on Friday, November 1st. They set a “buy” rating and a $21.00 target price for the company.

Penguin Solutions Trading Up 2.0 %

Penguin Solutions stock opened at $20.00 on Wednesday. The company has a quick ratio of 2.19, a current ratio of 2.65 and a debt-to-equity ratio of 1.65. The company has a market capitalization of $1.07 billion, a P/E ratio of -20.00 and a beta of 1.74. Penguin Solutions has a 12 month low of $14.87 and a 12 month high of $29.81. The company has a 50-day moving average price of $17.49.

Penguin Solutions (NASDAQ:PENG) last issued its quarterly earnings data on Tuesday, October 15th. The company reported $0.23 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.04). Penguin Solutions had a positive return on equity of 8.05% and a negative net margin of 4.48%. The company had revenue of $311.15 million for the quarter, compared to the consensus estimate of $325.00 million. As a group, analysts predict that Penguin Solutions will post 1.33 earnings per share for the current fiscal year.

Insider Buying and Selling at Penguin Solutions

In other Penguin Solutions news, insider Joseph Gates Clark sold 2,264 shares of the firm’s stock in a transaction that occurred on Thursday, November 14th. The stock was sold at an average price of $17.50, for a total value of $39,620.00. Following the completion of the sale, the insider now owns 95,999 shares of the company’s stock, valued at approximately $1,679,982.50. This trade represents a 2.30 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, COO Jack A. Pacheco sold 13,334 shares of the firm’s stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $20.05, for a total value of $267,346.70. Following the completion of the sale, the chief operating officer now directly owns 235,960 shares of the company’s stock, valued at $4,730,998. This trade represents a 5.35 % decrease in their position. The disclosure for this sale can be found here. Insiders own 2.40% of the company’s stock.

About Penguin Solutions

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.