PENG (NASDAQ:PENG) Given Consensus Recommendation of “Buy” by Brokerages

PENG (NASDAQ:PENG) has received a consensus rating of “Buy” from the six analysts that are 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 12-month target price among analysts that have covered the stock in the last year is $23.60.

PENG has been the topic of a number of analyst reports. The Goldman Sachs Group initiated coverage on PENG in a research note on Friday, November 1st. They set a “buy” rating and a $21.00 price objective on the stock. JMP Securities started coverage on PENG in a research note on Monday, November 18th. They issued an “outperform” rating and a $23.00 price target on the stock. Needham & Company LLC decreased their price target on PENG from $35.00 to $25.00 and set a “buy” rating on the stock in a research note on Wednesday, October 16th. Citizens Jmp raised PENG to a “strong-buy” rating in a research note on Monday, November 18th. Finally, Barclays decreased their price target on PENG from $27.00 to $22.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 16th.

PENG Price Performance

PENG stock opened at $17.99 on Friday. The company has a current ratio of 2.65, a quick ratio of 2.19 and a debt-to-equity ratio of 1.65. The firm has a market capitalization of $958.69 million, a price-to-earnings ratio of -17.99 and a beta of 1.70. PENG has a fifty-two week low of $14.87 and a fifty-two week high of $29.81.

PENG (NASDAQ:PENG) last posted its earnings results on Tuesday, October 15th. The company reported $0.23 earnings per share for the quarter, missing the consensus estimate of $0.27 by ($0.04). The firm had revenue of $311.15 million during the quarter, compared to analyst estimates of $325.00 million. PENG had a negative net margin of 4.48% and a positive return on equity of 8.05%. Research analysts anticipate that PENG will post 1.33 earnings per share for the current fiscal year.

Insider Transactions at PENG

In related news, insider Joseph Gates Clark sold 2,264 shares of the firm’s stock in a transaction dated Thursday, November 14th. The stock was sold at an average price of $17.50, for a total transaction of $39,620.00. Following the sale, the insider now directly owns 95,999 shares in the company, valued at approximately $1,679,982.50. This trade represents a 2.30 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 2.40% of the company’s stock.

About PENG

SMART Global Holdings, Inc, a memory-focused company, engages in the designing and development of enterprise solutions in the United States, China, Europe, and internationally. It operates through Memory Solutions, Intelligent Platform Solutions, and LED Solutions segments. The company offers dynamic random access memory modules, solid-state and flash storage, and other advanced 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.