Penguin Solutions (NASDAQ:PENG) Rating Increased to Strong-Buy at Loop Capital

Penguin Solutions (NASDAQ:PENG) was upgraded by equities researchers at Loop Capital to a “strong-buy” rating in a research note issued on Monday,Zacks.com reports.

Other equities analysts have also recently issued research reports about the stock. Stifel Nicolaus reduced their price objective on shares of Penguin Solutions from $32.00 to $27.00 and set a “buy” rating for the company in a research note on Wednesday, October 16th. JMP Securities began coverage on shares of Penguin Solutions in a research report on Monday, November 18th. They set an “outperform” rating and a $23.00 price target for the company. The Goldman Sachs Group began coverage on shares of Penguin Solutions in a research note on Friday, November 1st. They issued a “buy” rating and a $21.00 price target for the company. Needham & Company LLC lowered their price objective on shares of Penguin Solutions from $35.00 to $25.00 and set a “buy” rating on the stock in a research report on Wednesday, October 16th. Finally, Citizens Jmp upgraded shares of Penguin Solutions to a “strong-buy” rating in a research report on Monday, November 18th. Six equities research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $25.00.

Penguin Solutions Price Performance

Penguin Solutions stock opened at $19.84 on Monday. The company has a market capitalization of $1.06 billion, a price-to-earnings ratio of -19.84 and a beta of 1.69. Penguin Solutions has a one year low of $14.87 and a one year high of $29.81. 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 stock has a fifty day moving average of $18.42.

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

Insider Activity at Penguin Solutions

In related news, COO Jack A. Pacheco sold 13,334 shares of the stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $20.05, for a total transaction of $267,346.70. Following the completion of the sale, the chief operating officer now directly owns 235,960 shares in the company, valued at $4,730,998. This represents a 5.35 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, 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 transaction of $39,620.00. Following the completion of the transaction, the insider now owns 95,999 shares in the company, valued at $1,679,982.50. This represents a 2.30 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 22,264 shares of company stock valued at $440,287. Insiders own 2.60% of the company’s stock.

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.