Penguin Solutions (NASDAQ:PENG) Given Average Recommendation of “Buy” by Brokerages

Penguin Solutions (NASDAQ:PENG) has earned a consensus rating of “Buy” from the seven brokerages that are presently covering the firm, Marketbeat reports. Six investment analysts have rated the stock with a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $24.17.

PENG has been the topic of several research analyst reports. Citizens Jmp upgraded shares of Penguin Solutions to a “strong-buy” rating in a research report on Monday, November 18th. JMP Securities assumed coverage on Penguin Solutions in a research note on Monday, November 18th. They set an “outperform” rating and a $23.00 price objective for the company. Stifel Nicolaus decreased their target price on Penguin Solutions from $32.00 to $27.00 and set a “buy” rating on the stock in a research report on Wednesday, October 16th. Needham & Company LLC reduced their price objective on Penguin Solutions from $35.00 to $25.00 and set a “buy” rating for the company in a research note on Wednesday, October 16th. Finally, Barclays lowered their target price on shares of Penguin Solutions from $27.00 to $22.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 16th.

Insider Activity

In other Penguin Solutions news, COO Jack A. Pacheco sold 13,334 shares of Penguin Solutions stock in a transaction on Monday, December 9th. The stock was sold at an average price of $20.05, for a total value of $267,346.70. Following the sale, the chief operating officer now owns 235,960 shares in the company, valued at $4,730,998. The trade was a 5.35 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Joseph Gates Clark sold 2,264 shares of the stock in a transaction 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 transaction, the insider now owns 95,999 shares of the company’s stock, valued at approximately $1,679,982.50. This represents a 2.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 2.40% of the company’s stock.

Penguin Solutions Trading Up 0.2 %

Shares of PENG stock opened at $19.47 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. Penguin Solutions has a 12-month low of $14.87 and a 12-month high of $29.81. The business’s 50 day simple moving average is $17.65. The stock has a market capitalization of $1.04 billion, a P/E ratio of -19.47 and a beta of 1.74.

Penguin Solutions (NASDAQ:PENG) last announced its earnings results 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). The business had revenue of $311.15 million for the quarter, compared to analysts’ expectations of $325.00 million. Penguin Solutions had a negative net margin of 4.48% and a positive return on equity of 8.05%. On average, research analysts predict that Penguin Solutions will post 1.33 earnings per share for the current fiscal 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.